Fortunately, there is a platform which avers to warn people well in advance of any crash in Bitcoin. To make this happen, developers have created Bitcoin Bubble Burst app.
To predict any potential bitcoin crash in the future, developers have created an app, Bitcoin Bubble Burst which uses computational learning power to scan Bitcoin markets, news and social media platforms.
Recently, Bitcoin’s price skyrocketed and signaled incredible growth. However, it’s no hidden fact that the digital currency is highly volatile, which leads to investors’ panicking when the price moves south. Many people consider this is just the beginning of Bitcoin’s price ascension, whereas others are of the view that the bubble will soon burst. Similar to any stock or market, increasing prices are celebrated, but a bull run is always two-sided. When the price of bitcoin or any stock escalates, some investors gain massively, however, at some point it is followed by a large number of people selling to lock in profits. This leads to a drop in the value of the stock and for Bitcoin that could mean a chain death spiral.
Whether Bitcoin will ultimately crash or not remains debatable. Fortunately, there is a platform which avers to warn people well in advance of any such crash. To make this happen, developers have created Bitcoin Bubble Burst app which uses computational learning power to scan Bitcoin markets, news and social media platforms to indicate any possible market crashes in the future.
By using algorithms based on Bitcoin price change data, the Bitcoin Bubble Burst app provides real-time price change alerts to users. Various such apps exist to warn users of potential changes which prove to be useful tools, but each has some potential drawbacks. As such any bad news reports or negative statement on social media could lead to sell-off messages on apps. However, the Bitcoin Bubble Burst’s creators are careful about the nature of the alerts they send and plan to introduce some customizable triggers for users – so they don’t get flooded with push-notifications.
“Utilizing sentiment analytics we can get a numeric picture of the current event. Our model learns which patterns are ‘odd’ and when to contact you via notification,” reads their website.
Though it’s smart to use this app, it must be kept in mind that this is not a foolproof solution by any means and should not be the driving force behind a person’s decisions on Bitcoin trading. Over the years, there was news stating that Bitcoin is a bubble, but so far, the critics have been proven wrong. Artificial intelligence has come a long way but such predictions can still be wrong in the end. The algorithms that feed our social media platforms and search engines are complex and human emotion are not taken into account. Hence, making an investment decision on the basis of an app may not seem feasible.
In the weeks and months to come, there will be an even larger focus on the Bitcoin price as when on Dec. 18th, the Chicago Mercantile Exchange (CME) will enable trading of Bitcoin Futures, more people will look for accurate trading data on cryptocurrencies.
Everyone is concerned to find out whether or not the world’s leading cryptocurrency will fail or succeed and people are keeping an eye on the constantly changing value of Bitcoin.
Thus, in such a scenario, access to real-time data from a broad domain of exchanges is extremely valuable. This and other similar apps will be helpful to watch worldwide trade of Bitcoin and cryptocurrencies in the future.
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