AI Crypto Trading Bot Market Expected to Reach $145.27 Million by 2029: Report
Valuet reports suggest that AI crypto trading bots will help make trading in crypto efficient and accurate.
AI has been at the core of innovation for the past five years now. One area that relies heavily on artificial intelligence is trading. Riding on the same hype of automated trading, crypto trading is expected to rely heavily on AI soon. According to a report by Values Report, the market size of AI crypto trading bots is expected to reach $145.27 million by 2029.
AI Crypto Trading Bots Market To Rise By 2029
According to Values report, the artificial intelligence crypto trading bots market was estimated to be worth $21.69 million in 2022. This same market is projected to grow at a compound annual growth rate (CAGR) of 37.2% to reach $145.27 million by 2029.
The main reason behind the upward trend is expected to be the increasing volatility and complexity of the cryptocurrency market. Algorithmic trading powered by artificial intelligence is helping traders evaluate market data and close trades faster. As predictive analytics is enhanced by machine learning, these bots can adapt to changes in the market. Additionally, according to the report, they can make the most of trading strategies to predict a trend.
Automated trading relies on speed and accuracy
Moreover, the growing market of AI cryptocurrency trading bots is being driven by the efficiency and speed gains of algorithmic trading. AI-powered bots facilitate quick decision-making and execution by executing trades by predetermined values. As a result of this mechanization, trade is less influenced by human emotions.
