'AI helps traders utilize more intuitive strategies,' says Exchange
On July 11, cryptocurrency exchange Bitget launched an AI-powered feature for its Grid Trading strategies, or the use of trading algorithms to automate transactions for users. In an interview with Cointelegraph, Bitget developers stated:
In its AI Grid Trading Bot, users are only required to fill in the desired strategy and input the investment amount. The small language model iterates thousand of parameters and can create tens of different strategies within the same currency pair. Its intricate, surgical focus differs from large language models, such as ChatGPT, which can possess hundreds of billions of parameters and are intended for generic use.
Similar to its Martingale AI bot unveiled in June, different AI strategies have different parameter settings such as the number of positions added, the multiplier of the amount added to the position, and the take-profit percentage.
The need for the small-language model AI Trading Bot to synchronize price data in real-time among multiple users nevertheless presents a challenge. To address this problem, Bitget developers wrote:
In simpler terms, Bitget says its AI Trading Bot distributes transactions "to multiple nodes for processing," thereby mitigating a single point of failure and ensuring high tolerance. When it comes to limitations, the development team said:
In the next phase, Bitget plans to develop an AI bot capable of learning price prediction, although it is currently under intense research and development. Previously, the exchange pledged $10 million on April 27 to the Fetch.AI blockchain ecosystem amid the ChatGPT boom.
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