Understanding the Real Drivers Behind Crypto Market Fluctuations
Unveiling the Truth About Crypto Market Fluctuations
Arkadiy Amiryan, the Chief Operating Officer of Veles Finance, presents an intriguing perspective on the causes of sudden cryptocurrency market crashes. Contrary to popular belief, he suggests that it is not just sophisticated trading bots that create turbulence in this volatile space.
Social Media's Role in Price Swings
Amiryan emphasizes that the primary culprits behind sharp price shifts are social media hype and endorsements from influential figures. He believes that reckless public statements can set off rapid declines in cryptocurrency values, which he views as a form of unfair market manipulation.
The Influence of Scams and Speculative Tokens
Rather than automated trading strategies being the main concern, Amiryan insists that speculative tokens and prominent scams present far more immediate threats to market stability. The unpredictability of such assets can introduce unexpected volatility.
The Neutrality of Trading Bots
Delving deeper, Amiryan addresses trading bots – like those provided by Veles Finance – describing them as neutral tools that carry out predefined strategies driven by market data rather than emotional impulses. He observes that these bots are designed to function without fear of missing out (FOMO), but he warns that risk management remains a critical area for users to focus on.
Empowering Traders with Technology
Founded in 2022 and situated in Dubai, Veles Finance equips traders with a no-code, cloud-native platform. This enables both novice and advanced traders to initiate tailored automated trading strategies across various leading exchanges, such as Binance, Bybit, and OKX.
At present, Veles Finance proudly supports a community of over 49,000 traders, boasting $418 million in total bot deposits and over $79 million in profits accumulated by its users. This demonstrates the platform’s effectiveness in facilitating successful trading experiences.
Strategic Partnerships for Growth
Recently, Veles Finance expanded its operational landscape by collaborating with the Bitget cryptocurrency exchange. This strategic partnership integrates Veles's automated trading bots directly into the Bitget platform, allowing users from around the world access to tailor-fit bot solutions across spot and futures trading.
Focus on Responsible Trading Practices
Amiryan acknowledges the increased accessibility to trading bots, thanks to intuitive platforms like Veles. However, he underscores the company’s commitment to promoting responsible trading practices among its user base. Education remains a priority, with a strong emphasis on risk management.
“We guide our users to understand market conditions and the risks involved with trading strategies to prevent unnecessary losses,” he reinforces. The integration with Bitget also brings advanced risk management features into play, including dynamic stop-losses, multi-take profits, and trailing profit mechanisms, all designed to protect users' investments.
Refining Strategies Through Backtesting
Veles Finance empowers its users with access to a professional-grade backtesting engine that enables them to hone their trading strategies utilizing historical market data before deploying capital. This feature is crucial for traders to evaluate the potential performance of their strategies effectively.
The Future of Automated Trading
Amidst the evolving landscape of automated crypto trading, Amiryan stresses that scalability should not compromise user satisfaction. “Our users are at the forefront of our development strategy. Without their input, we would struggle to grow. As we expand, we are committed to enhancing user experiences, ensuring customization and control remain fundamental elements of our offerings,” he articulates.
The Importance of Education in Crypto Trading
Many industry professionals, including Amiryan, believe that while algorithmic trading can enhance efficiency, understanding the unique volatility of the crypto market is paramount. The focus should blend communication, risk awareness, and thoughtful execution rather than simply relying on automation alone.
Frequently Asked Questions
What causes crypto market crashes according to Arkadiy Amiryan?
Amiryan suggests that social media hype and major endorsements, rather than trading bots, are significant contributors to rapid market shifts.
How do trading bots fit into the market according to Veles Finance?
Trading bots serve as neutral instruments that execute defined strategies without emotional bias, but proper risk management is vital.
What is Veles Finance's approach to user education?
Veles prioritizes educating its users on risk management to ensure they make informed decisions while trading.
What services does Veles Finance offer to traders?
Veles Finance provides a cloud-native platform for automated trading, supporting users across major exchanges and offering advanced features like backtesting.
How does the partnership with Bitget benefit users?
This collaboration allows Bitget users to access Veles's customizable trading bots for both spot and futures trading, enhancing their trading toolkit.
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