Known for its excessive brutality in the tides of crypto volatility, Bitcoin has again been prophesied a great future and a meteoric rise in price. The prophecy was given by yet another expert, portfolio manager Jeet Singh told RT at the Davos Economic Forum in Switzerland.
There is no shortage of prophetic predictions on the price of the cryptocurrency and it has been long determined that the price of cryptos is formulated almost entirely on hype. The fact that “experts” seem to be in league and cahoots when promising a crypto’s rise is ample evidence that they have vested in it and are pumping the price to dump it soon after and make a profit. Nothing personal, just business.
At the moment there’s a speculative bubble in the cryptocurrency market because those who “got there at very late stages are losing money.” But it doesn’t bother those who’ve been there for a very long time because they are used to the volatility, Singh explained.
“If you look at Microsoft or Apple when they went public their stocks were very volatile because the market wasn’t mature. In different countries bitcoin is qualified differently,” he said. It is a commodity in the US, a currency in Switzerland “but to me it’s more than a currency.”
There is no doubt that Bitcoin will continue to flounder on the tides of cryptos and its price will undergo both rises and falls. However, the fact remains that relying even on the most advanced algorithms may not be sufficient to effectively predict the price of an asset that does not follow traditional factors in determining its price.
Though the crypto market is still relatively new and lacks many of the traditional institutions of a civilized market, there are projects on the market that seek to indemnify or mitigate the associated risks that investors take when deciding to invest in projects. Cryptics is one such project that seeks to offer the necessary instruments for alleviating the situation with uncertainty. The concept behind it is to support market participants by providing liquidity on exchanges and a safety cushion for retail investors by creating a platform that connects market players and develops algorithms to predict changes in the value of cryptocurrencies. Such instruments based on highly advanced scoring models involving machine learning and AI are incomparable with human intuition that even the luckiest and most prudent investors could ever be endowed with. The multitude of factors involved in predicting a cryptocurrency’s rise or fall are all taken into account by the algorithms that Cryptics employs. Investors should consult such projects as the expense is well worth the ensured profit and peace of mind.