AI Trading For Stocks: Mechanisms and Merits
The Trading Bay
by Muattar Zehra
5d ago
The world of artificial intelligence encompasses much more than the generally known, popular applications like ChatGPT. Within the broad spectrum of AI capabilities lies a transformative force reshaping the finance and investing sector. In the investment landscape, artificial intelligence offers tools for better decision making and personalization in accordance with the investor preferences and risk tolerance. Ideally, AI trading can optimize investment portfolios, predict market trends, manage risks, and make entry and exit decisions for trades.   In this article, we will overview w ..read more
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Binance Coin (BNB) Holds Breath at $500 Support, Eyes Potential Rally
The Trading Bay
by Glory Kathambi
1w ago
Key Insights: Binance coin’s chart bearish formation signals potential negative momentum, prompting investor vigilance amidst rapid price growth. BNB’s price stabilization at around $500 hints at a potential upward trend, with resistance at $550 looming large. A breach beyond the $550 resistance could propel BNB toward $580, while failure may lead to a further decline toward $430 support. Binance Coin (BNB), the prominent utility token of the Binance ecosystem, has seen a remarkable surge in 2024, which is in line with the overall bullish sentiment in the crypto market. However, its recent c ..read more
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Ethereum’s Price Faces Continued Pressure Amidst Market Downturn
The Trading Bay
by Glory Kathambi
1w ago
Key Insights: Ethereum’s price plummeted below $3,100 amidst market turbulence, shedding 18% in just one week, raising concerns among investors. Factors such as the ongoing Federal Reserve meeting, SEC’s postponement of ETF decisions, and Grayscale’s proposal have contributed to Ethereum’s price volatility. Ethereum faces significant resistance around $3,200, with the $3,400 level posing a major obstacle to any potential upward movement. Amidst a broader downtrend in the cryptocurrency market, Ethereum’s price has taken a significant hit, dipping below the $3,100 mark. This decline, amountin ..read more
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Bitcoin Slips Below $63k as Market Faces Ongoing Decline
The Trading Bay
by Glory Kathambi
1w ago
Key Insights: IntoTheBlock highlights a demand zone around $61,000, suggesting potential support for Bitcoin amidst its ongoing decline. Despite ongoing losses, the influx of institutional investors signals potential stabilization and upward momentum for Bitcoin’s price. Bitcoin’s on-chain analysis illuminates pivotal price levels, indicating potential support amidst declines and resistance during upward momentum. In a continuation of its recent negative trend, Bitcoin, the leading digital asset, experienced a 6% drop today amid the recent rebound above $64k. Over the past week, it saw a sig ..read more
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Crypto Registration Fees in Nigeria Could Skyrocket by 400%, According to SEC Proposal
The Trading Bay
by Karthik S
1w ago
In a bold move, Nigeria’s Securities and Exchange Commission (SEC) has proposed a staggering 400% hike in registration fees for cryptocurrency firms. This comes as part of the country’s intensified scrutiny of the crypto sector. The proposed amendments are not just limited to registration fees. They encompass a comprehensive overhaul of the fee structure for crypto issuers, exchanges, and custody platforms. The current application fee of 100,000 naira ($64) is set to triple to 300,000 naira. Moreover, the SEC plans to levy a hefty registration fee of 150 million naira, a significant jump from ..read more
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Crypto Market Sees Price Decline: Reasons Behind BTC and Cryptocurrency Drops
The Trading Bay
by Glory Kathambi
1w ago
Key Insights: Bitcoin experiences a 7% decline following a higher-than-expected 0.6% surge in US PPI inflation for February. Market anticipates heightened volatility leading up to the March 20 Federal Open Market Committee (FOMC) meeting. Large movements of BTC to exchanges may indicate selling pressure, potentially contributing to price declines. Bitcoin experienced a significant downturn in the market, witnessing a sharp decline from its recent all-time high to a one-week low of $66,630. This sudden drop of more than 7% occurred after Bitcoin had been hovering around the record high of $73 ..read more
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Solana Surges to 25-Month High, All-Time High in Sight?
The Trading Bay
by Glory Kathambi
1w ago
Key Insights: Solana’s recent rally sees a 25-month high, prompting differing opinions among analysts on its potential for further gains. Crypto trader Jelle remains bullish on Solana, while Rekt Capital highlights its robust uptrend post-Ascending Triangle breakout. Solana’s recent price surge correlates with the success of the Dogewhatif campaign, underlining the impact of memecoin mania on network activity. Solana has recently reached a significant milestone in its price trajectory, surging to a new 25-month high of $175, showcasing its resilience amidst ongoing market volatility. The cry ..read more
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XRP’s Surge Triggers ETF Speculation Amid Ripple-SEC Legal Saga
The Trading Bay
by Glory Kathambi
1w ago
Key Insights: Ripple’s XRP experiences a notable price surge, prompting discussions on the possibility of an exchange-traded fund (ETF) approval. Ripple’s CEO and Uphold Inc.’s Research Lead hint at the potential for an XRP ETF, reflecting optimism for market diversification. Analysts speculate on the impact of the upcoming Ripple-SEC trial, anticipating potential market outcomes hinging on legal verdicts. XRP is experiencing a surge in market value, and discussions swirl around the potential approval of an XRP exchange-traded fund (ETF). The cryptocurrency market, currently valued at approx ..read more
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Ethereum Bulls Charge Past $4,000 as Ether ETF Approval Falters
The Trading Bay
by Glory Kathambi
2w ago
Key Insights: Investor sentiment sways as SEC delays and reduced approval odds cast shadows on the highly anticipated spot ether ETF by May. Eyes turn towards May 23, anticipating not only the final decision on VanEck’s ETH ETF but also the potential approval of BlackRock’s application. Ethereum successfully breached the $4,000 key level, marking a multi-month high above $4,050. The digital asset is now consolidating gains and exhibits signs of potential extension beyond the $4,100 zone. As of this writing, ETH is trading at $4,009, with a mere decrease of 1.19% in the past 24 hours. ETH/US ..read more
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Bitcoin Surges Past $72,000, Eyes New Highs Amid Institutional Interest
The Trading Bay
by Glory Kathambi
2w ago
Key Insights: Despite Bitcoin’s historic climb, muted discussions indicate attention is diverted to altcoin performances. A 15% drop in the average Bitcoin investment age in five months validates the ongoing bull cycle. Bitcoin broke the $70,000 barrier over the weekend, marking a potential start to a series of new highs in the coming months. The prized digital asset is currently trading at $71.710, boasting gains of nearly 2% in the last 24 hours. BTC/USD price chart: CoinMarket Cap This rally is fueled by robust institutional interest in cryptocurrencies, signaling a growing shift towards ..read more
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