Bybit launches grid trading bot as Bitcoin struggles at $20,000

It is quite effective in varied markets, where prices experience regular fluctuations.

Bybit has announced the launch of its grid trading bot, available from today to all registered users so that traders can automate their buy and sell orders and adjust their investment amount.

Grille trading has become a very trendy feature and the crypto trading platform based in Tel Aviv follows the pace.

Ben Zhou, Co-Founder and CEO of Bybit, said, “Grid trading has been around for a while and is a proven and profitable trading methodology, especially for such a fluid market as crypto. At Bybit, we are always on the lookout for products and services that can help our users take advantage of the uptrend and new digital asset class with ease and confidence. We are convinced that our users will be as enthusiastic about network trading as we are for deployment for them.

The grid trading system executes low purchase orders which lead to high sales orders during a lateral price movement. This guarantees profitability whenever the sale price exceeds the purchase price, thus eliminating the need for market forecasts.

It is quite effective in varied markets, where prices experience regular fluctuations. The crypto market, however, is currently in a bearish momentum, which increases the risk for traders using the grid system.

Bitcoin lost the $30,000 handle last week and saw a painful drop towards the $18,000-$20,000 area, which was once the highest level of the asset, printed in late 2017 as the institutional space signaled a real interest in space. CME Group launched Bitcoin futures on December 18, a milestone for the crypto ecosystem.

Bybit provides smart AI settings for every trading pair available on the bot. The parameters are developed and maintained by quantitative specialists in order to maximize profits for our users. Once a user has configured his trading bot and he gets a good return, he can share his strategy with another trader in one click.

Building on Bybit’s VIP program which offers regular users reduced trading fees as well as rebates, a $500,000 prize pool and real-life dating, VIP users can enjoy the same trading discounts using the new bots, While those who are in the process of becoming VIPs can progress faster in their level thanks to the higher trading frequency of the bot.

Bybit reported an increase rate of 99.99 % throughout 2021 without overload or stop time on its correspondence engine 100K TPS. The cryptographic derivative platform benefits from a liquidity depth which improves execution and propagation. The platform also helps traders to manage risks against excessive losses with liquidation protocols on several levels.

The company was founded in 2018 and offers online spot and derivatives trading services, mining and staking products, an NFT marketplace as well as API support, to retail and institutional clients.

Bybit has signed sponsorship deals with Formula 1 racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, and Oracle Red Bull Racing Esports, Borussia Dortmund and Avispa Fukuoka.

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