The price of Bitcoin (BTC) has been rising since the onset of the ongoing U.S. banking sector instability. Many investors are looking to capitalize on the potential surge of BTC. The Avorak AI trade bot has made yet another impressive move, netting a 28% gain from Bitcoin short.
Bitcoin price prediction: Will Bitcoin go back up?
Bitcoin (BTC) is the largest cryptocurrency by market capitalization. Bitcoin’s all-time high crossed $69,000 in November 2021. However, its value dropped significantly, largely due to looming macroeconomic conditions and a series of unfortunate events, including the Terra Luna crash and the FTX saga. Nonetheless, Bitcoin (BTC) has had an incredible year so far in 2023, with more than a 70% rally. The positive outlook on Bitcoin is due to it proving to be a viable alternative to fiat currencies amid the struggle of traditional financial systems. Bitcoin (BTC) has also been referred to as digital gold for its ability to hedge against inflation with its capped supply of 21 million BTC coins.
Many analysts and experts are bullish on the future of Bitcoin (BTC), with some suggesting the digital currency may reach $100,000 in the near future. Bitcoin’s upcoming halving event in 2024 is a major reason for the bullish sentiments. The event, which happens roughly every four years, cuts Bitcoin rewards to miners in half, leading to a contraction in supply. Historically, the halving event has been a good sign for Bitcoin’s price, bringing in momentum and driving up prices. Therefore, despite the associated volatility, Bitcoin (BTC) has a positive performance and future outlook.
Avorak Trade: The best bot for BTC trading?
Avorak Trade is one of Avorak AI’s solutions. The trade bot uses AI algorithms to analyze market trends and find the best possible trades. The Avorak trade bot can provide price predictions with large indicators and enhanced visuals from trading services like TradingView. Avorak’s AI trading bot also includes unique features that improve efficiency, security, and usability. For example, the AI trade bot can automate trades on different exchanges and assets. The Avorak Trade doesn’t require code programming as its command-line input system uses a simple script. A standard Avorak Trade programming would look like this: “In my OKX futures account, when BTC reaches $29,500, short 5 BTC at 5X, and buy 1.5 BTC in my Kucoin spot account.”
The Avorak Trade bot is currently in development but has made impressive price predictions on various cryptocurrencies. The trading bot also had a 72% hit in Bitcoin (BTC) spot leverage trades last month. The recent 28% gain from Bitcoin (BTC) short indicates that the Avorak trade bot was able to note a potential dip within the fluctuating price of Bitcoin and sold it intending to buy back at a lower price. The price of Bitcoin (BTC) decreased as predicted, and the algorithm was able to buy BTC at a lower price and make a profit of 28% on the original investment. Avorak trade’s excellent performance has led to more traders and investors joining the Avorak ICO (initial coin offering) event to get the AVRK token at a discounted price and other benefits. AVRK is a cryptographically-secured, transferable, and saleable representation of several attributed utility functions within the Avorak AI ecosystem. It will be used to access the ecosystem and pay for its AI services. AVRK is currently selling at $0.235. Analysts suggest that as more become aware of Avorak’s solutions, AVRK’s price will increase significantly.
For more information on Avorak and its ICO:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Photo by Pierre Borthiry – Peiobty on Unsplash