PixabayBitcoin is the kind of technological advancement which people will be talking about for decades to come.
It’s disrupted the finance industry in a big way, and people are betting big on the future of the cryptocurrency.
But one thing which works against the popularity of the decentralised currency is its inherent instability.
It isn’t tied to any financial systems which could act as a check and balance on its value, and as such its price is literally just what people are willing to pay for it.
PixabayAt this stage, it’s probably best to think of Bitcoin as an asset similar to stocks and shares, as opposed to currency used in transactions.
Still, there is a massive network of users who swear by Bitcoin, and for those who like to keep an eye on the rises and falls of the currency, this app could be the perfect way to prevent losing out on any money.
The app is called Bitcoin Bubble Burst, and was presented at the Disrupt Berlin hackathon mere hours ago, according to Tech Crunch.
The app alerts you of any major price changes and news which could affect the price of Bitcoin – and it does this in real time.
Bitcoin Bubble BurstBut this isn’t the first app to do this, so what’s new? Well, BBB actually uses artificial intelligence to predict when such changes might occur.
So, according to the creators of the app, BBB will give you warning when something is about to happen.
Obviously, the longer this AI has access to data, the better at predicting it will be.
The AI will be looking out at key trade prices which are linked to Bitcoin, as well as news of any countries banning Bitcoin, and any news which could affect the price.
If the changes are large enough, you’ll receive an email – like the one above – which explains the reason behind their prediction, which in time will help you decipher the international news and how that might affect Bitcoin.
Bitcoin Bubble BurstThe creators told TechCrunch that the system has been pretty accurate so far, and has predicted changes to within a ‘handful of dollars’.
As time goes on, they will allow users to modify just how and when they receive their alerts, e.g. via text alert. They will be able to change the threshold which triggers an alert.
Just last week we reported on a plummeting in price of Bitcoin within a matter of a couple of hours, so this product is something a lot of investors will be looking to get their hands on sharpish.
GettyThe bubble, which had previously shown few signs of slowing, begun to pop after it lost a huge chunk of its value in a matter of hours.
The industry disruptive cryptocurrency declined more than $2,000 dollars in the span of just a few hours on Wednesday, proving just how unstable it can be.
This app is actually a natural progression of Bitcoin if you think about it, with many people decrying Bitcoin’s major flaw as its unpredictability (as I did above). BBB means that unpredictability just got a whole lot more predictable.
