- Two out of three say 25% or more of their trading will be in Bitcoin this year, GNY study finds
- GNY Range Report uses advanced AI Crypto Intelligence to forecast the volatility of the 12 top cryptocurrencies
Retail crypto traders are backing the Bitcoin boom to keep running until at least the end of the year with nearly one in five expecting it to exceed $45,000, new international research* from GNY Limited, the leading blockchain-based machine learning business, shows.
GNY, which has developed the free AI-powered Range Report, a cutting-edge machine learning tool designed specifically to forecast the volatility of the 12 top cryptocurrencies by leveraging multiple data points and advanced algorithms, carried out its study when Bitcoin was around $30,000 having gained around 76% this year.
It has recently further enhanced the tool to use large language models (LLMs) such as OpenAI’s ChatGPT and Meta’s LLaMa 2. making it even easier for users to identify notable changes in trends and signals in the crypto market.
The innovative platform empowers traders with accurate intelligence on potential price fluctuations, helping them make informed investment decisions as well as providing guidance on how to use and read charts, and market wide information. It simplifies the complex world of crypto into digestible information.
GNY’s research found 78% of the non-professional/traders trading at least $5,000 a month on cryptocurrencies it questioned in the UK, US, Germany, Brazil, Hong Kong, Singapore, the UAE and South Africa, believe Bitcoin’s price will growth further this year. Around 19% predict it will pass $45,000. Around 4% believe it could double to $60,000.
Confidence in Bitcoin’s price is driving increased interest in it from traders. Around two out of three (64%) say they expect to stake 25% or more of their trading on Bitcoin compared to 58% who put the same amount or more into the cryptocurrency last year.
Cosmas Wong, CEO GNY said: “Bitcoin is clearly the king of the cryptos and that is reflected in the optimism about its price and the increased focus of trading. Next year’s BTC halving will likely precipitate another bull run as it has done before. The difference this time is that we have a deeper and more mature alt coin market.
“Although the GNY Range Report tracks BTC and ETH, it is also designed to track 10 popular altcoins.
The GNY Range Report is not a traditional news or chart aggregation platform. It leverages the power of machine learning to identify patterns in top crypto assets’ historical trading in order to forecast price volatility, delivering them in an approachable way.”
GNY.io is using Large Language Models, another exploding sector of AI, to help make the insights in the GNY Range Report even more accessible. “Even looking at the GNY Range Report, which is extremely streamlined, can be too much for people who are interested in crypto but short on bandwidth”, says Wong. “Our AI Readouts will summarize the chart trends and eventually users will be able to interact with the models to customize the information they want, set alerts and customise notifications.”
GNY.io will also launch DataNFTs, or DNFTs, which will lay the foundation for openness and transparency into GNY’s processes, and for trustless ML collaboration. Using GNY DNFTs, community members and developers will be able to contribute data, models and other work products to the GNY Range Report and securely track usage, earnings, and subsequent implementation and data collaboration.
How to use the report
The GNY Range Report is a cutting-edge machine learning tool designed specifically to forecast the volatility of the 12 top (soon to be 25) cryptocurrencies. By leveraging multiple data points and advanced algorithms, the innovative platform empowers traders with accurate intel into potential price fluctuations, helping them make more informed trading decisions.
Unlike traditional market analysis tools, the GNY Range Report serves as a centralised hub, gathering and consolidating all relevant information in one place. The GNY Range Report ensures traders have access to the most pertinent data without feeling overwhelmed.
With its user-friendly interface and intuitive design, the GNY Range Report caters to both professional traders and passionate enthusiasts. It is a prosumer product that combines the robustness required for in-depth analysis with the accessibility needed for traders at any level of expertise.
Visit the GNY Range Report and unlock the power of data-driven analytics for the AI-edge in cryptocurrency trading. Visit www.gnyrr.com today and discover a new level of clarity in the crypto market.