It has been over a decade when cryptocurrency came into being. Now, just in 12 years of existence, digital currency has taken the financial world to another level. The value of these cryptocurrencies has witnessed exponential growth with Bitcoin seeing the most buyers.
Currently, the total market cap of cryptocurrencies is US$1,746,285,217,570. However, this is a result of the currency’s volatile nature. These digital currencies see major fluctuation in a short span of time. With time, investors have understood this pattern and realized that huge profits can be made by investing in cryptocurrencies. But to make smart investments, predicting the right price is very imperative.
AI making accurate market predictions
Well, this is where artificial intelligence steps in. To predict the prices of crypto is a task that is too heavy for a human brain. Unlike stock, crypto values aren’t dependent on factors such as cash flow or asset availability.
Trading for crypto can be done anytime on any given day, which means there’s a lot of data for an AI to analyze to predict the prices. Using AI for crypto trading is reliable as it tones down the risk of human error while calculating, making the process swifter.
Crypto trading firms such as Endor, Signal, and platforms like CryptoHawk.ai have been using artificial intelligence to offer crypto insights to their users. Endor provides insights to small traders by accessing the user activity data and recycling it back into their model.
Make money at low risk
Signal on the other hand offers indicators to new traders by using the data extracted by an AI. This helps the users make good investments and also provides a chance to data scientists to make money by selling their analysis.
CryptoHawk.ai is an AI platform for people who wish to invest in Bitcoin and Ethereum. It uses AI to analyze large data sets and make accurate predictions. This allows investors to simplify their decisions and reduce the risk.
