Ethereum (ETH) has remained stable amid the general crash of cryptocurrencies. The crash is largely attributed to the moves by the SEC, and while ETH’s stability might come as a surprise to many, Avorak had already predicted this.
Ethereum price
While SEC-designated securities experienced significant price declines, the ETH price has been relatively stable. This resilience contributed to Ethereum’s growing market dominance, which also surged amidst the unstable market conditions triggered by the SEC’s actions. On-chain data analysis revealed a notable increase in the number of non-zero addresses accumulating Ethereum (ETH), indicating a growing interest and investment in the cryptocurrency. Trader behaviour also exhibits a notable level of optimism, evidenced by the declining put-to-call ratio for ETH. The number of put options taken against Ethereum (ETH) significantly lagging behind call options suggest that traders have a positive outlook on Ethereum’s price trajectory, expecting it to rise in the foreseeable future.
What is Avorak?
Avorak is a comprehensive AI platform on the BNB Smart Chain offering a wide range of solutions aimed at streamlining human-led operations. The platform has received widespread recognition in the crypto community, with its initial coin offering (ICO) investor count increasing daily.
The native utility token of the platform is known as AVRK, and it serves as a credit for accessing its services. AVRK is selling at $0.255 with a 4% discount in the second-last phase of the ICO. Investors in the ICO get other benefits, such as priority access to Avorak’s beta tests.
How did Avorak predict the Ethereum (ETH) stability?
Avorak, through its proprietary trading bot, leveraged vast amounts of historical price data, market trends, and indicators to analyze and identify patterns. By processing and synthesizing this information, Avorak made informed forecasts about the future behaviour of Ethereum’s price. Avorak also considered external factors such as market sentiment, regulatory actions, and news events that might impact Ethereum’s price. By incorporating a quick and holistic analysis of the market, Avorak could better anticipate and predict how Ethereum (ETH) would respond to the SEC developments, leading to its accurate forecast of price stability. Additionally, Avorak’s machine learning algorithms continuously learn from new data and adjust the predictions accordingly. This adaptive learning enables Avorak to refine its models over time and improve its forecasting accuracy.
The Avork Trade bot offers its users other advantages. The bot provides large sets of indicators alongside price predictions and alerts users when changes occur in market patterns or trends. The bot can also be used to automate trades on different exchanges and asset classes. Notably, Avorak’s trading bot uses a non-code command-line input, making it a simple yet powerful solution that can be used by all traders.
For more information on Avorak:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
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- Source: https://coinpedia.org/press-release/ethereum-price-stays-stable-throughout-crypto-crash-avorak-predicted-this/
