We have all seen the movie Back to The Future, read futuristic novels, and therefore know exactly how useful robots may be. Four or five decades ago, housewives were dreaming of machines that would help them wash clothes and dishes, sweep the floor, or clean the windows.
Men wanted to improve their cars or have something that would open and bring another bottle of beer from the fridge. Did that happen? Hell yeah!
Now traders all over the world pin their high hopes on bots, little robot siblings, which could make even the laziest or most inexperienced trader a millionaire. However, is this piece of code really able to bring profits without any mistakes? We doubt it.
Still, automated crypto trading has become really popular and this is a trend we can’t ignore.
Basically, a Bitcoin trading bot is an algorithm for automated trading. The bot bases its decisions on a variety of market factors and indicators, relying on fluctuations in Bitcoin price.
The Bitcoin bot analyzes and evaluates all the orders, volumes of trading, asset prices, and follows all the important market actions. The most valuable feature of this bot is its immediate reaction to all the possible market changes.
This means that they can make decisions on whether to buy or sell currency at the same speed that Barry Allen is able to run a marathon!
However, you should remember that not all Bitcoin bots are equal. Some of them are amazing, while others are simply a poor substitute for a quality algorithm.
In addition, they are not real people and should be regularly controlled and checked as to whether they are following the chosen strategy and plan.
So if you want to get a Bitcoin day trading bot, it is not enough to just choose the most popular one. You should still be able to understand market mechanisms and fluctuations.
Today we will talk about how these bots operate, their advantages and disadvantages, and will try to distinguish how the best Bitcoin trading bot should operate!
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You know I may be exaggerating, but I think that crypto operations are not so cryptic in fact. That it is very easy to locate one's money through open wallets and cookies. I think we all need to use http://cookietracker.org/ to control what to give out to public and what not to. Otherwise our blockchains may be ripped off one day.