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Artificial intelligence has been at the center of innovation for the last five years, with commerce being one of the sectors most supported by AI. The crypto trading market, which relies on the same automatic trading hype, is expected to become largely AI-based soon. According to a report by Valuates Reports, the market size for AI-based cryptocurrency trading bots is expected to reach $145.27 million by 2029.
Significant Rise Expected in the Market for AI-Based Crypto Trading Bots
According to Valuates Reports, the market for AI-based crypto trading bots was valued at $21.69 million in 2022. The same market is expected to grow at a compound annual growth rate (CAGR) of 37.2%, reaching $145.27 million by 2029.
The main reason behind this rising trend is the high volatility and complexity in the cryptocurrency market. Algorithmic trading supported by artificial intelligence helps investors evaluate market data and quickly conclude trades. These bots, which combine predictive analysis with machine learning, tend to adapt to market changes. Furthermore, the report suggests that it is possible to make the best use of trading strategies to predict a trend.
Automated Trading Speed and High Accuracy
As technology advances, the need for automated, 24/7 trading solutions is increasing. Therefore, AI-based cryptocurrency trading bots are becoming increasingly important for capturing opportunities and managing risks in the dynamic crypto market.
Moreover, the growing market for AI-based cryptocurrency trading bots is driven by the efficiency and speed gains of algorithmic trading. AI-based trading bots facilitate quick decision-making and execution by conducting trades according to predefined standards. As a result of this mechanization, trading is less affected by human emotions.
The expansion of the bot sector is primarily due to machine learning technology in AI-based cryptocurrency trading. These bots use past and current data to continuously improve their performance through predictive analysis. Machine learning algorithms identify patterns, trends, and anomalies in the market to increase the accuracy of trading decisions. This helps investors effectively manage risks and capitalize on emerging opportunities.
North America, and particularly the United States, is often a significant hub for financial and technological innovations. Considering the widespread use of technology and the presence of an established financial sector, AI-based cryptocurrency trading bots could find a significant market.
