Bitcoin is a very unstable cryptocurrency. Her course can change significantly, taking off or collapsing from the next news or post on Twitter. This particular feature of Bitcoin is often brought up in disputes by his opponents, who, in general, are right. But Swissquote reports that it has found a way to curb the sharp jumps in Bitcoin with its own algorithm and investment portfolio based on Bitcoin and the dollar.
The idea is simple: the funds are stored simultaneously in the traditional and cryptocurrency, the algorithms will monitor Bitcoin information on the Web, responding to changes in the course and market signals in a timely manner. Assessing the situation, the algorithm will automatically convert Bitcoins to dollars or vice versa.
The bank is confident that this scheme will reduce the risks from investing in cryptocurrency, which has recently been interested in an increasing number of investors.
“They, however, are worried about Bitcoin volatility. Therefore, we tried to build a trading algorithm that can protect the system from sudden jumps, ”explains the bank’s management.
It is difficult to say how effective the scheme proposed by the bank will be, but, apparently, if it is launched, we will know about it quite quickly.
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