Meet Follow Trend: AI-Powered Bitcoin Trading

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Cryptocurrency markets are volatile. There’s absolutely no doubt about it. In fact, this is perhaps the most volatile market that one can choose to engage with.

This became particularly evident in the past week. Over the course of just a few days, the price for Bitcoin marked an all-time high of $42,000 only to drop by almost $12,000 and chart a low of slightly above $30K in less than two days. This volatility has a direct impact on traders, and the massive liquidations were a definitive sign of it. After all, there was almost $3 billion worth of liquidated long and short positions in a 24-hour cycle.

What this goes to show is that timing the market is particularly challenging, even for advanced traders, let alone for newcomers. Working with high leverage increases risks of liquidations and capital loss, and many people fall for this trap.

However, with the advancement of technology, there are new solutions trying to tackle the inherent challenges of the market. One such solution is Follow Trend – an AI-driven White Label solution for cryptocurrency market insights, trading bots, and social trading.

What is Follow Trend?

Right off the bat, Follow Trend is a White Label solution, and it’s not available for retail customers directly. That being said, it enables the power of Artificial Intelligence (AI) to provide actionable insights, assessments, and even generate trades using the company’s trading bots.

Some of the most prolific features of Follow Trend include:

The artificial intelligence scans the cryptocurrency market analyzes it in real-time, and it can help traders shortlist the right markets while also identifying entry and exit points. The AI itself will supposedly alert you about significant market developments ahead of time.

This is another offering by Follow Trend. The trading bots follow the lead of the AI and generate appropriate signals, as well as executing orders on the supported cryptocurrency exchanges. At the time, these are Huobi Global and Binance.

This allows you to check the previous trade history of different traders. If you think that their performance is satisfactory, you can start following their trades and execute the same orders on your own account.

It’s also worth noting that the platform will generate insights for both spot and futures cryptocurrency markets.

How Does Follow Trend Work?

The process includes artificial intelligence analyzing the market in real-time, 24/7. It can supposedly predict significant movements ahead of time. It can also shortlist the most perspective markets for trading. Based on this synthesized information, the AI can also generate trading strategies and minimize the risks. One of the benefits of using AI is that it takes the emotional factor out of the equation.

From there, traders can choose whether to execute orders based on these insights on their own accounts.

The interface is relatively straightforward and easy to use. It also presents a lot of different information, such as market sentiment.

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As mentioned above, users can integrate the software and use it with Binance and Huobi Global. This happens by adding a new account and inserting the personalized API key and secret key. From the provided dashboard, users can also customize the order types that they want the software to execute. They can adjust the maximum order volumes, the maximum number of active orders, whether or not the software should open long or short positions, and which markets to work with.

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The overall interface is easy to use, and you can take advantage of the comprehensive dashboard to monitor the markets, your account status, and so forth. You can also set up alerts, engage in social trading, activate the AI-powered bots, and whatnot.

All in all, this seems like a solution for engaging with the markets in a way that takes off the human element out of trading, hence reducing the chances of mistakes.

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Source: https://cryptopotato.com/meet-follow-trend-ai-powered-bitcoin-trading/