The Bitcoin price momentum is a very hot topic right now. Many people think this is only the beginning, whereas others feel the bubble will soon pop. Whether or not a Bitcoin price crash is imminent remains up for debate. Thankfully, there is a platform which claims it will warn people well in advance. Bitcoin Bubble Burst is a pretty nifty tool based on AI.
What’s Next for the Bitcoin Price?
These days, every Bitcoin price tick is thoroughly scrutinized and analyzed. Speculators are on the lookout for either another breakout or a major crash. Using technical analysis can help with predictions, although not every chart is correct either. Moreover, most people won’t even bother with TA, as it is not all that easy to learn and far from accurate if enough people don’t follow the projected trend.
This is where an application called Bitcoin Bubble Burst comes into the picture. It is a pretty interesting mobile app which solely focuses on analyzing the current Bitcoin price momentum. The tool uses artificial intelligence to predict the future value of cryptocurrency, which is rather interesting. Additionally, it keeps tabs on social media and the news to determine the sentiment regarding Bitcoin and its value.
As one would expect, this is not a foolproof solution by any means. Using artificial intelligence and deep learning algorithms is pretty interesting, but such predictions can still be wrong in the end. Moreover, relying partially on social media and the news to gauge whether or not the Bitcoin price will rise or decline may not be the best idea either. We’ve seen a lot of headlines claiming Bitcoin to be in a bubble, but so far, the critics have been proven wrong time and time again.
Bitcoin Bubble Burst collects trading data from a few different exchanges, although it is unclear which platforms are used. Furthermore, there is a strong focus on Twitter, which is not the best place to get accurate information these days. The bot will also analyze data from various marketplaces, although it is unclear how that will factor in exactly. Users will only be alerted if something important is happening, such as a massive Bitcoin price correction. Rest assured there will be some genuine interest in this project, as it allows people to keep tabs on the Bitcoin price in a convenient manner.
The big question is whether or not the Bitcoin price will actually go down in a big way. Right now, there is still a 50/50 chance that a major correction will occur before the year is over. At the same time, we may yet see a new all-time high later this week. It is impossible to predict how the price will evolve, yet most people are only interested in seeing the bubble pop. If that happens, this app will notify users immediately, although it may be too late to sell your BTC and make a profit by that point.
It is evident there will be an even larger focus on the Bitcoin price in the weeks and months to come. Everyone in the world is anxious to find out whether or not the world’s leading cryptocurrency can succeed. Whether or not this app is even remotely accurate remains to be determined, though. It is difficult enough to predict the Bitcoin price using regular means, let alone with AI and deep learning.