AI has been the core of innovation for the past five years now. A segment that backs a lot on artificial intelligence is trading. Riding on the same hype of automatic trading, crypto trading is expected to rely heavily on AI soon. According to a report by Valuates Reports, the market size for AI Crypto Trading Bots is expected to reach $145.27 Million by 2029.

Markets for AI Crypto Trading Bots to ascend till 2029

According to Valuates Reports, the market for artificial intelligence crypto trading bots was estimated to be worth $21.69 million in 2022. This same market is projected to grow at a compound annual growth rate (CAGR) of 37.2% to reach $145.27 million by 2029.

The main reason behind the upward trend is expected to be the increasing volatility and complexity of cryptocurrency markets. Algorithmic trading powered by artificial intelligence is helping traders assess market data and close deals swiftly. Because predictive analysis is enhanced by machine learning, these bots can adapt to changes in the market. Additionally, they can also make the most of trading strategies to predict a trend, according to the report.

Automatic trading relies upon speed and accuracy

As technology advances, there is a growing need for automated, 24/7 trading solutions. Therefore, AI Crypto Trading Bots are becoming more and more crucial for seizing market opportunities and managing risks in the dynamic cryptocurrency environment.

Furthermore, the growing market for AI cryptocurrency trading bots is being driven by the efficiency and speed gains of algorithmic trading. AI-driven bots facilitate fast decision-making and execution by executing trades by predetermined standards. Trade is less affected by human emotions as a result of this mechanization.

Automation to drive AI Crypto Trading Bot

AI Trading of Cryptocurrencies Machine learning technology is primarily responsible for the expansion of the bot sector. These bots use historical and present data to continuously improve their performance through predictive analysis. Machine learning algorithms identify patterns, trends, and anomalies in the market to increase trading decision accuracy. This aids traders in effectively managing risks and seizing any chances that may arise.

North America, and especially the United States, is often a key hub for financial and technological innovation. Given the extensive use of technology and the existence of an established financial sector, AI Crypto Trading Bots could find a substantial market.

The post AI Crypto Trading Bot Market Expected To Reach $145.27 Million by 2029: Report appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am