A member of Reddit has just launched today an app that uses Reddit and Twitter data to estimate potential FOMO and FUD situations.
By collecting social data such as the numbers of mentions on social networks or the percentages of new Twitter followers on a given time frame, the developer hopes to help those building their own market predictions.
The logic behind his system is that large price moves in a coin are preceded by similarly noticeable levels of online interaction, either on Twitter, Reddit or both.
Even though this app is still ongoing development, Chepicap has tried it the Android version and it seems pretty functional in so far. It also counts with a useful notification system for large price moves, among a few other functionalities. Good news as well for those concerned about privacy, as the app gives the option of using it without registering, and it does not asks for any permissions from the phone.
Most comments on Reddit were largely possitive towards the latest gift from a member of the community, although some did requested for changes in the app: