AI generator helping traders utilize more intuitive strategies.
‘AI helps traders utilize more intuitive strategies,’ says exchange

AI-Powered Feature for Grid Trading Strategies

On July 11, cryptocurrency exchange Bitget launched an AI-powered feature for its Grid Trading strategies, enabling users to automate their transactions with trading algorithms. In an interview with Cointelegraph, Bitget developers explained that the AI Grid Trading Bot requires users to fill in the desired strategy and input the investment amount. This small language model iterates thousands of parameters and can create tens of different strategies within the same currency pair, in contrast to large language models, such as ChatGPT, which have hundreds of billions of parameters and are intended for generic use.

Similarly to its Martingale AI bot unveiled in June, the AI Trading Bot has different parameter settings, such as the number of positions added, the multiplier of the amount added to the position, and the take-profit percentage. However, the challenge of synchronizing price data in real-time among multiple users still remains. To address this problem, Bitget developers wrote:

AI Trading Bot: A New Way to Mitigate Risk

Bitget’s AI Trading Bot offers a new way to manage risk by distributing transactions “to multiple nodes for processing,” thereby preventing a single point of failure and ensuring a high tolerance. The development team also shared that in the next phase, the exchange plans to develop an AI bot with the ability to learn price prediction, although this project is still in the research and development phase. Recently, Bitget also pledged $10 million to the Fetch.AI blockchain ecosystem in April of 2021.

The advancements of AI technology have come a long way, from Microsoft AI chatbot to Wolf AI, Olive AI, and AI Generator, to the more recent Snapchat AI and Soundhound AI. Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

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