Seed to Sale Compliance for Cannabis and CryptocurrencyMay 8, 2019
The cannabis industry is changing dynamically, and entrepreneurs are working on different ways to enter into the CBD industry; however, it is questionable as to whether the cryptocurrency will be the next innovative payment system for Cannabis.
CBD products are being sold widely on the internet. CBD infused healing balms, creams and gummies are sold across offline and online stores. The UK legalized CBD oil in the past year, and it is not legal in several states in the US. The market is exploding than ever before.
The integration of the health and wellness industry and Silicon Valley are mainly focused on new and improved ways in which technology could be used to help health care systems across the world.
There are a couple of cannabis-focused cryptocurrencies in existence, which are focused on innovative ways of problem solving and technology in the process of seed to sale compliance. Convenient sales processes with cryptocurrency integrated payment gateways will improve the market strength by strength.
Price trends are an expression of crowd psychology. The numbers of tweets and the sentiment reflected in the tweet like a positive or negative opinion can influence the price of the cryptocurrencies. It has been seen that the numbers of tweets and Google searches tend to increase before the price can increase. To be clear the sentiment expressed in the tweet or Google searches moves the markets. Many times, the noise in Twitter is more than the actual conversation.
Nearly 21 million bots in twitter post factual information about spam, advertisements, and price. Considering this we need to assume that very fewer numbers of human beings discuss Bitcoin or Ethereum.
Another trend is where “People who tweet about cryptocurrencies even when their prices drop have an interest in them beyond investment opportunity making the tweets biased towards positive.”
However, by applying different modeling techniques, researchers have to state that it is not possible to completely rule out sentiment analysis.
It is true that the search spikes increase before a price spike can happen. By applying machine learning techniques, it was seen that Google trends and the tweet data do correlate with each other. Thus, social media is a great took to identify the chats of individuals.
Twitter represents the collective mood if investors. Twitter hype index is used to optimize the technical results in helping to remove the hype numbers in the data to a great extent.