Tuesday, April 23, 2024
Blockchain

Bitget creates an AI-powered crypto trading tool

Bitget, an influential entity in the fields of crypto derivatives and copy trading, has introduced a novel tool called the Martingale AI trading bot. This AI-powered innovation is engineered to help its users trade cryptocurrencies with higher efficiency.

Taking its name from the traditional Martingale betting system, this fresh AI approach is designed to amplify investments in the wake of market declines to offset losses and garner profits. The AI component of the system streamlines investment automation, permitting traders to establish their risk parameters and investment intervals based on recommendations from Bitget’s in-house AI system. Notably, these guidelines are derived from an analysis of past market prices and asset volatility.

The architects behind the Martingale strategy underscore its adaptability to both bearish and bullish markets, thereby enabling traders to capitalize on long and short market positions. A distinctive feature of this strategy is its customizable risk management aspect, which offers traders the liberty to tweak various parameters in alignment with their personal trading patterns and risk thresholds.

The confluence of AI and cryptocurrency has been gaining more attention of late. Erik Voorhees, the person behind ShapeShift, recently spoke about the singular compatibility of cryptocurrencies and AI systems. A libertarian in favor of favorable regulation in the web3 industry, Voorhees contends that cryptocurrency is the only type of money that can be efficiently integrated into AI systems. He maintains that AI systems have the ability to manage and exploit digital assets. Bitget’s Martingale AI strategy serves as a tangible illustration of this concept, demonstrating how AI-enabled algorithms can augment trading strategies, automate tasks, and offer insights into market dynamics.

Concurrently with Bitget’s groundbreaking initiative, the AI crypto assets market is experiencing considerable expansion. Boasting a market cap of $2.66 billion and a 1.1% change within the last day, AI tokens that drive AI-centric projects like portfolio management, image generation, and pathfinding are on the rise. To illustrate, tokens such as RNDR, AGIX, and FET have seen gains of 0.4%, 1.7%, and 0.8%, respectively, in the past day. This ascending trajectory underlines the potential worth and escalating demand for AI tokens in the market.

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