Bybit launches ChatGPT-powered trading tool that predicts BTC and ETH prices
“By integrating ChatGPT into Bybit Tools, we are able to give users more comprehensive information when making their decisions. ToolsGPT is a testament to our commitment to empowering traders with advanced tools and insights.”
Bybit has announced the release of its latest tool, ToolsGPT, a platform that combines ChatGPT’s machine learning technology with Bybit’s market data.
With ToolsGPT, the third most visited cryptocurrency exchange in the world aims to revolutionize the way traders make informed and profitable decisions.
The ChatGPT-powered trading tool leverages the power of artificial intelligence and turns it to Bybit’s own market data providing technical analysis, backtested price data, and other essential metrics. The tool is said to deliver unique and actionable answers to traders’ inquiries.
ToolsGPT considers technical indicators to forecast price trends
Bybit further explains that users can rely on ToolsGPT to provide valuable insights and predictions for various scenarios. “Whether it’s analyzing BTC price trends for the upcoming weeks based on the data from the past week, considering technical indicators like RSI and MACD to forecast BTC price trends for the remainder of 2023, predicting BTC and ETH prices for the next 24 hours based on the data from the past 24 hours, or envisioning the future trend of ETH in the coming week, ToolsGPT is equipped to provide accurate and actionable information”, said the official statement.
Ben Zhou, CEO of Bybit, said: “We are always exploring cutting-edge technologies and focusing on product innovation to provide convenient trading solutions for our users. By integrating ChatGPT into Bybit Tools, we are able to give users more comprehensive information when making their decisions. ToolsGPT is a testament to our commitment to empowering traders with advanced tools and insights.”
Bybit joined Copper’s ClearLoop off-exchange settlement network
The crypto exchange has recently integrated with Copper’s ClearLoop network in a monumental leap forward as Bybit joins the off-exchange settlement network toward an era of increased capital effectiveness and diminished counterparty risk.
The fusion of Bybit into the ClearLoop network demonstrates its unwavering focus on meeting the complex demands of institutional investors in the rapidly fluctuating crypto market.
Copper’s ClearLoop directly tackles exchange counterparty and insolvency risk and allows Bybit’s clients to navigate the trading landscape with heightened security and confidence. A critical advantage of this integration is the provision for expedited off-chain settlements while trading on Bybit, an indispensable feature during market turbulence when delays in blockchain transaction confirmations can escalate.
Protecting assets under Copper’s Multi-Party Computation custody and the ClearLoop integration showcasing a transparent English Law trust structure provides institutional clients with an additional layer of empowerment.