The Importance of AI in Crypto Industry



by Analytics Insight

February 4, 2022

AI in Crypto

A new study was published recently, showing how the cryptocurrency market can use the development of Artificial Intelligence. According to the study, the global cryptocurrency market size is expected to gain momentum by 2028 and reach as much as $1,902.5 million. 

In the Fortune Business Insight’s report, named Cryptocurrency Market, it was noted that the market managed to stand around $826 million in 2020. Due to the developments around the world, the demand for crypto services has skyrocketed dramatically. 

In addition to this, the huge popularity of crypto assets such as BTC and Ethereum is further increasing the demand for crypto services. Such developments are encouraging more people around the world to start investing in cryptocurrencies. 

Numerous companies are working on different types of partnerships to further develop the cryptocurrency market. in this development, AI is considered to be playing a massive role. According to the report, there are many reasons supporting the market growth. However, one of the main reasons listed in the report is the Covid-19 pandemic, which has already changed many corners of our everyday lives. 

As it is mentioned in the report, the pandemic has left many people around the world without their jobs. For these people, cryptocurrency trading managed to be a great option for making some profits. 

Also, crypto transactions tend to cost cheaper than fiat transactions, especially when talking about cross-border transactions. This has been used by many people who live far from their countries as an opportunity to send funds back to their homes. 

 

AI & Cryptocurrency Market

The further development of artificial intelligence is expected to have a massive impact on the further development of the cryptocurrency market. The crypto industry has been growing massively over the past few years, attracting numerous new clients around the world. 

Among many reasons why the market is becoming so popular is the fact that it is very easy for newcomers to get started in the crypto industry. Today, traders do not have to have much experience in the crypto trading market to make some profits from it. 

There are numerous crypto exchanges in the market that offer traders the opportunity to take advantage of algorithmic trading. This is a very useful offer for those who do not have enough time to constantly monitor the market, or simply do not have enough knowledge and experience in crypto trading. 

These people can easily get a bitcoin auto trader bot and let it make profits for them. As the market continues to grow, there are more and more automated trading robots created for the cryptocurrency trading market. 

Artificial intelligence and its further development can make it even easier for beginners to start trading cryptocurrencies. Today, AI is already very actively used in the crypto market, but many experts believe that this is just the beginning and the adoption of AI in the crypto market will continue to grow massively in the upcoming years.

 

Big Hopes for the Future

It is expected for the AI industry market size to reach 360.36 billion by 2028. According to numerous sources, the AI industry is developing at a very fast pace and it can support the further development of the crypto industry as well. 

Over the past few years, numerous chart patterns and indicators have been created to assist crypto traders in their ventures. By using these tools, traders are able to make the most out of the market conditions, but AI has to offer much more. One of the biggest issues for traders when it comes to crypto trading is that the market is open 24 hours a day, 7 days a week. 

This means that there is always something happening in the crypto market, but it can be quite hard for traders to analyze these price movements. On the other hand, AI is capable of monitoring the price movements in the market at all times, ensuring that whenever there is some type of movement in the market that might give traders some profits, the automated trading bot will make profits for you.

In the future, many experts believe that artificial intelligence will become even more effective. The technology is being updated and developed very fast and it is capable of doing even more than it did a year ago.

Cryptocurrency traders are not the only people who are making use of artificial intelligence. Participants and representatives of many different industries have also shown interest in artificial intelligence and its future, claiming that its development will further support people of all walks.

 

Crypto Market Performance

The past few weeks proved to be quite damaging for the crypto market. The majority of the digital assets fell in value, resulting in massive panic in the market. Many people started selling their investments, trying to save some of their money. However, this has only caused the prices to dip further.

Experts in the market are talking about different scenarios of developments in the near future. Some experts claim that the prices of crypto assets will start to recover in the upcoming weeks, while others claim that the prices will continue to dip.

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Analytics Insight



Analytics Insight is an influential platform dedicated to insights, trends, and opinions from the world of data-driven technologies. It monitors developments, recognition, and achievements made by Artificial Intelligence, Big Data and Analytics companies across the globe.

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