Crypto market - statistics & facts

Binance, which is the biggest crypto exchange globally, agreed to pay a 4 billion dollar settlement with the U.S. agencies, making it one of the largest corporate fines in the history of the United States. Despite this, crypto prices rallied in the following weeks, with Bitcoin reaching its highest value in December 2023, exceeding 42,000 dollars. That was also reflected in an overall cryptocurrency market cap, reaching a level similar to a market cap before high-profile crypto problems (LUNA and FTX crashes in 2022). So what are the most important developments you should be aware of when it comes to cryptocurrencies? Here is everything you need to know about the overall market combining all cryptocurrencies, including Bitcoin.

Crypto Market - Statistics & Facts

2023: The Occurrence of Crypto Price Hike

In 2023, an unexpected crypto price hike occurred. However, it’s hard to predict if it will continue to stay this way in 2024 because it will heavily depend on the U.S. Fed monthly interest rate. However, the speculation exists that it may decrease in 2024. It’s also important to mention that by December 2023, the idea of decreasing interest rates as well as a Bitcoin ETF potential fueled the market sentiment toward much riskier assets. Nonetheless, the price surge that occurred in December 2023 can affect the financial results of various companies, such as Block or Coinbase, because their business models concentrate on cryptocurrency significantly.

2024: Cryptocurrency Trends You Should Look Out For

2024 can be considered the year of major developments in the cryptocurrency world. One such development is a Bitcoin halving that will arrive by April 2024. The supply of Bitcoin is finite since it comes with a maximum amount of it that is embedded in the design. As a matter of fact, in late 2023, roughly 93 percent of it had already been reached. Fortunately, it’s part of the original design of Bitcoin to keep its supply under control, which is done by Bitcoin halving. Each previous halving injects new value into any oldest-existing cryptocurrency. Additionally, some analysts hope for more developments in regards to DeFi or Decentralized Finance as well.

Is There an AI Trading Bot?

Yes, there is. AI crypto trading bots completely transformed the way that traders engage with the cryptocurrency market. They leverage advanced algorithms as well as machine learning, which allow traders to automate trading processes, maximize returns, and minimize risks.

What Is the Best AI for Trading?

If you want to use the best AI for trading, look no further than WienerAI or Immediate i8 MaxAir AI, which is in very high demand as of now. This trading platform integrates AI powers to provide you with advanced trading services. Its AI-powered bot is designed to help you automate your trading strategies so you can get huge returns.

Can I use AI for Trading?

You can certainly use AI for trading as it uses machine learning techniques and algorithms to help you identify trends and patterns in the market. This reduces the human risk error and increases trade accuracy. So AI trading can be good for identifying various opportunities that you may otherwise miss by traditional trading methods, which can result in higher profits.

How Do I Start AI Trading?

1. Educate Yourself

Make sure to thoroughly understand the fundamentals of trading strategies, financial markets, and risk management. Moreover, familiarize yourself with essential concepts like technical analysis, risk-reward ratios, and fundamental analysis.

2. Choose the Right Platform

It’s important to select the right platform so you can get the best results. Look for those platforms that offer robust backtesting capabilities, user-friendly interfaces, and real-time data feeds. Furthermore, consider factors such as security, the platform’s track, and customer support.

3. Develop Strategy

Decide whether you plan to develop a trading strategy of your own or use pre-existing ones. If you don’t have any experience with AI trading, starting with proven strategies would be a good choice for you. But if you already have some experience, you can begin developing your strategy instantly.

4. Paper Trading

Before you commit to real capital, it's important to practice a trading strategy by using paper trading accounts. They can help you trade in a much more secure and risk-free environment while allowing you to enhance your strategy.

Following all these steps can help you easily navigate through AI trading and make the most profit from it.