According to Avorak AI reports, core market makers are showing bullish sentiment towards Bitcoin and Ethereum, with many beginning to go long at current price levels. This indicates a growing confidence in the future of these two cryptocurrencies, despite recent market volatility. Bitcoin and Ethereum are the most widely traded cryptocurrencies, and positive market sentiment towards them will likely impact the overall cryptocurrency market.
Avorak (AVRK) is a one-stop shop for easy-to-use AI tools that simplifies human-led tasks. Avorak Trade is its flagship solution to crypto trading, giving all users, whether newbie or experienced, an equal opportunity to access the market overview. Traders can gain 24/7 market monitoring, accurate analysis, and profitability by deploying Avorak trade bots. The bots can easily analyze voluminous, historical, and present information to help traders operate confidently in any crypto market. AI trading bots help eliminate emotion from the trading process. Emotions such as fear and greed can often cloud judgment, leading to poor decision-making. AI bots make decisions based solely on data and pre-set parameters, eliminating the impact of emotions. Trading bots can be a powerful tool for traders looking to automate their strategies.
Avorak’s ICO in phase five features a price increase of 250% to $0.210.The platform will launch at $1 and trading will occur on the Azbit exchange after the ICO. Avorak’s second audit supports the first one which okayed its secure and transparent infrastructure.
Avorak AI also thrives in text generation space by deploying internet scrapping and a language bank. This ensures that the output is not repetitive and is plagiarism free. The Avorak Write generates content and images in various writing styles depending on user preferences.
Will Bitcoin Go Back Up?
Bitcoin is rejuvenating after the market slump that saw the worst crash in the crypto world. Bitcoin enjoys immense popularity from ardent followers and many see it as the base currency for cryptocurrency. Its recent Fear and Greed Index corroborates Avorak AI’s analysis. BTC price predictions vary, with some analysts forecasting a rise in 2023, while others believe that it could drop. The current inflation and FTX collapse may slow Bitcoin’s price in 2023. However, Bitcoin recently climbed the $30,000 level, signalling a likely breakthrough. Nonetheless, it is challenging to predict with certainty whether Bitcoin will go back up or not.
How to Stake Ethereum?
Several options are available for Ethereum staking depending on how much one is willing to stake and the level of control over the staking. Solo staking without third parties requires a minimum of 32 ETH to activate a validator. The option of pool staking requires depositing ETH to independent validators. Hardware wallet holders like Ledger can also download a staking app. Whichever way one chooses to stake ETH, it’s paramount to research the suitable option for your risk appetite.
With Avorak AI’s analysis noting that core market makers are beginning to go long at current price levels, it appears that BTC and ETH may be poised for growth in the coming months.
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On Tuesday, a new report by the AI-driven Avorak market research firm highlighted yet another bullish shift in the cryptocurrency market. According to the report, a significant portion of the core crypto market makers have begun longing Bitcoin and Ethereum at current price levels, a positive sign for the future of the two leading digital assets.
The report which used AI-driven analysis to analyze the behaviour of the core crypto market makers states that the shift in attitude is due to the increasing institutional demand for both digital currencies. The institutions appear to be feeling more confident in Bitcoin and Ethereum as a viable asset class and are consequently beginning to put capital into these assets at the current levels.
Moreover, Avorak also analyzed the behaviour of retail traders and found that compared to earlier in 2021, the sentiment is becoming increasingly bullish. The rising demand among retail traders comes as a result of the increasing awareness of the cutting-edge use cases like decentralized finance (DeFi) that are being built on the Ethereum blockchain.
Both Bitcoin and Ethereum have outperformed most other traditional asset classes this year, and the chances of this trend continuing appear to be getting higher. The fact that core market makers are now willing to long at current levels is undoubtedly a strong sign for the future of the two leading cryptocurrencies. Time will tell whether this shift will be enough to propel both digital assets even higher.