Bitcoin Bubble Burst Is To Warn Of The Crash

Bitcoin Bubble Burst is to warn of the crash

On Sunday alone, the Bitcoin price rose again by just under $ 1,000, since the beginning of the year, the price has increased more than tenfold. Currently (9:30 pm), a Bitcoin is worth around $ 11,820 - the $ 12,000 mark is in sight. No wonder critics speak of a bubble that could soon burst. Just ahead of this, the artificial intelligence-powered app Bitcoin Bubble Burst will protect investors in the future, as Techcrunch reports.

Because the machine learning system developed within the scope of the Disrupt Berlin Hackathon is to be able to predict larger upward and downward movements of the course of the cryptocurrency. Developers Claudio Weck, Saad El Hajjaji and Karthick Perum have fed the KI with data related to past Bitcoin price changes.

The system will now independently search for specific patterns that could signal a course reversal. This includes the observation of marketplaces. In addition, the app evaluates according to the developers news - such as whether banned in a country Bitcoin or taxes are levied on the trade in cryptocurrencies. The social media are also searched for reactions to certain news.

App users will receive a message explaining what's going on and what investors can expect in terms of bitcoin pricing. According to the developers, the Bitcoin Bubble Burst algorithm was pretty accurate so far. The forecasts should become even better as time goes by as the system continues to learn.

If you are interested in the KI forecasts of Bitcoin Bubble Burst, you can sign up for this page. The developers promise that the notification will only be sent in really important cases and the privacy of the users will be protected.

However, a comprehensive regulation of the Bitcoin derivatives market on the US stock exchanges does not represent the approval of the CFTC. This was underlined by the authority's commissioner, J. Christopher Giancarlo. In contrast, he emphasizes that his authority has limited authority and can not provide a holistic oversight of the complex crypto market.

Market participants should be aware that the relatively recent cash markets and transactions behind the Bitcoin remain largely unregulated markets, over which the CFTC has little legal authority. There are "concerns about the price volatility and trading practices of participants in these markets",

so Giancarlo.

Despite warnings, Terry Duffy, CEO and Managing Director of the Chicago futures and options exchange CME Group, said in an interview with Coindesk that he had confidence in establishing the necessary control mechanisms.

"We are pleased to launch Bitcoin futures after working closely with the CFTC and other market participants to create a regulated offering [...] offering transparency, pricing and risk transfer opportunities."

Stock market establishment enroute?

With the approval of the CFTC, Bitcoin is taking an important step towards established financial markets. The fact that this trend could continue in the near future is confirmed, among other things, by the announcement of the New York Stock Exchange Nasdaq.