Blending Machine Learning and Cognitive Analysis for Cryptocurrency Trading

By CIOReview | Friday, February 23, 2018
123
194
45

Some people view the fluctuations in the cryptocurrency market as a sign of unsteadiness. Therefore, they find the cryptocurrency market to be volatile and consider avoiding it. Cryptocurrency trading can be great, but from an informed investment practice, it can also turn out to be pure gambling. The growing complexity of this market has steered several in-depth measures as traders strive to find ways to maintain the stability in winning trades. Many times, in order to rise above human emotions and cognitive bias, traders have started to depend on machine intelligence capabilities.

Businesses have started adopting machine learning and computer algorithms to analyse and execute trades. Nowadays, bots are being developed with plug-in capabilities that run trades 24/7 based on instructions that are installed in their settings. These systems operate efficiently as long as market cycles stay constant until some human factors such as regulation attempts of early 2018 show up. At such times, these algorithms stop working.

To tackle the existing inadequacies, experts are developing platforms for creating, training, and monetizing crypto trading stratagems with a user-friendly interface that can be accessed by anyone without any need of programming skills. Such platforms will bring crypto traders and data science developers together. The platform will also educate the traders enabling them to get rid of cognitive bias and making smarter decisions while creating an environment to develop and optimize smart trading strategies. This provides the users with an option to monetize their strategies and allow them to make significant, transparent, and well-influenced trading decisions while eliminating the risks and creating tools for tomorrow.