Recently, Bitcoin has appeared in headlines as whale activity surged significantly. The digital asset’s recent price action has showcased a solid bullish momentum, sending Bitcoin’s price to break the $30k resistance level.
As a result of the price surge, the entire crypto market is now on the green. Studies indicate that this move was aggravated by several pro-crypto organizations’ continuous applications of Exchange Traded Fund (ETF) approvals to the Securities and Exchange Commission. Moreover, technical analysis also showcased the possibility of the Bullrun happening just a few weeks before the move occurred. Avorak AI’s predictive analysis also called this bull run before it happened.
What is Bitcoin Dominance?
Bitcoin dominance attempts to explain the relationship between Bitcoin and altcoins. BTC dominance measures the ratio between bitcoins’ market cap and all other altcoins combined. Out of this information, a hypothesis emerges. If BTC dominance increases, the value of altcoins is set to decrease, and when it falls, the value of altcoins increases. This relationship is called the Bitcoin dominance ratio or the index.
The reason why this relationship exists is because Bitcoin is the most popular cryptocurrency in the space. Founded in 2009 by Satoshi Nakamoto, BTC became the first market mover in the crypto arena and has grown extensively in terms of market capitalization. Its price swings and fluctuations can generate income for traders, and now, thanks to Avorak AI, these trading activities will be improved.
Avorak AI Predicts BTC Price Changes
The rise of crypto exchanges has made crypto trading a popular frenzy among enterprising crypto fanatics. Thanks to these platforms, everyone can now easily purchase and hold digital assets, as well as actively bet on their price fluctuations. With this in mind, The Avorak team is developing a unique automated trading software tool that leverages artificial intelligence and self-learning algorithms to predict the market’s trends and price swings accurately. The tool is known as Avorak Trade.
Avorak Trade will be available for traders to use in exchanges. The highly secure and less manipulative tool will incorporate a single command line to execute trades for retail and institutional traders. Avorak trade will expose traders to both spot trades and the futures market.
Moreover, Avorak Trade will also generate automated trading indicators that signify market direction and execute high-probability trades on behalf of investors or institutions. The tool will also be linked to software analytics platforms like TradingView to give users the ultimate trading experience.
Avorak AI is currently in ICO phase 8. This phase allows investors to participate in the project’s early development by purchasing the ecosystem’s native token AVRK. During this phase, each AVRK token is selling for $0.27. Participants who buy the token during this phase will also get a 3% bonus on all orders.
The Avorak team also announced a giveaway for participants who purchase AVRK tokens with $250 or more. The giveaway will categorize buyers into different ranges according to the amount purchased. The more the amount, the more the bonus allocation. To claim this bonus, buyers must contact the Avorak support team within 24 hours of the purchase. They must submit the email address used to make the purchase and the TXN number obtained during the purchase.
Learn more about Avorak AI on:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
