Can AI influence the crypto market?

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Can AI influence the crypto market?

AI is one of the most important focuses nowadays because this is the revolutionary thing that will happen in the future. AI can easily decrease the workload of a human being and make the work more precise and fast. The same thing can also happen in the cryptocurrency market and we can implement AI there.

Benefits Of AI influence on crypto

As AI can easily deal with huge amounts of data this can be very helpful for the person in the crypto market for huge profits. As AI can deal with a huge amount of data it's very helpful for prediction. For example, Crypterium’s AI can predict prices with up to a 93% accuracy rate for more than 140+ coins thanks to more than 200 factors, 101 trading alphas, and a self-learning algorithm.

In the crypto market use of AI can reduce the time needed to invest for the benefits you get it can simply ease your task. AI can memorize lots of tactics to apply on the crypto market and can gain huge benefits. 

Some drawbacks are there as well

But AI intelligence is not that advanced which can differentiate between fraudsters and genuine accounts. The problem lies here it can cost you your tokens if this type of scam happens. And there are no such things that the strategy you implemented can work on that moment because the crypto market is very volatile and the meme coins are much more volatile. AI implementation has its benefits but you should keep in mind that this technology is in its first stage which is not fully polished.

Still, AI is good for crypto

Artificial intelligence can be useful for time saving and strategic planning. And this will have a huge impact on the crypto market because that help more people will join the crypto market. And due to the increase of active people, the crypto trend which is already a popular choice for many people can move towards deeper infrastructure and maybe this the future. As if today many people aren't using the paper currency for selling and purchasing goods and services. And by this decentralized blockchain technology, people can easily adapt to this type of digital currency.

Wrap-Up

As we all know that this is one of the safest methods so there should not be double thought for people to adopt the new mode of currency.  And the cherry on top as I said this is decentralized so there should be no single person who can run this alone. And fraud in transactions will be less as every transaction will be recorded on several computers and PCs.

So as of now, AI can be useful to some extent but in the future, as this technology matures it can put a very positive influence on the cryptocurrency market.

Featured image from AnalyticsInsight.net

Updated 10:20 PM UTC+8, 08 Nov 2021
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Crypto Staff
Crypto Staff
Contributor
 
Only Published crypto-related and blockchain-related articles, sponsored or non-sponsored articles on KenKarlo
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