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Bitget creates AI-powered crypto trading tool

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Astar Network the smart contract platform for multichain07

Bitget, a crypto derivatives and copy trading platform, introduced its Martingale AI trading bot, which uses artificial intelligence (AI) to help clients trade cryptos.

The Bitget Martingale AI strategy 

Bitget has recently announced the addition of the Martingale AI strategy to its lineup of trading tools. The Martingale strategy involves increasing investments after downturns to recover losses and make profits.

According to an announcement by the team at Bitget, the Martingale AI feature on Bitget enables traders to automate their investments by setting risk level and investment frequencies based on parameters recommended by the platform’s proprietary AI system. 

The parameters are calculated using historical market prices and asset fluctuations.

The team that created the tool says the Martingale strategy on Bitget is compatible with both bullish and bearish markets, allowing traders to profit from both long and short positions.

Additionally, the strategy offers customizable risk management, empowering traders to adjust various parameters according to their individual trading habits and risk appetites.

AI and crypto trading

The intersection of crypto and AI has become increasingly prominent in recent times. Erik Voorhees, the founder of ShapeShift, recently shed light on the unique compatibility between cryptocurrencies and AI systems. 

Voorhees, a libertarian advocating for amenable regulation in the web3 industry, believes that crypto is the only form of money that artificial intelligence systems can effectively incorporate. He opines that AI systems have the potential to control and utilize digital assets.

AI-powered algorithms can enhance trading strategies, automate processes, and provide insights into market behavior. Bitget’s Martingale AI strategy is just one example of how AI is being used in the crypto space.

AI tokens are popular

The AI crypto assets market is witnessing growth, with a market cap of $2.66 billion and a 1.1% change in the last 24 hours, according to Coingecko

AI tokens, which power AI-related projects such as portfolio management, image generation, and pathfinding, have also been soaring higher amid general gloomy crypto market conditions. 

Tokens like RNDR, AGIX, and FET have experienced gains of 0.4%, 1.7%, and 0.8%, respectively, in the past 24 hours, showcasing the potential value and demand for AI tokens.. 

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