CoinStats introduces AI-driven Exit Strategy feature to maximize crypto profits CoinStats introduces AI-driven Exit Strategy feature to maximize crypto profits
The AI-powered Exit Strategy tool would suggest the optimal selling prices for digital assets held in a portfolio.
2 min read
Updated: Feb. 5, 2024 at 11:35 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Crypto portfolio app CoinStats has unveiled an innovative artificial intelligence (AI)-powered Exit Strategy feature on its platform, empowering traders to optimize their profits effectively, according to a Feb. 2 statement shared with CryptoSlate.
The feature would allow crypto investors to strategically determine the optimal selling price for their cryptocurrency assets within their wallets.
The asset management firm revealed that its premium users can leverage the AI Suggest tool within the Exit Strategy feature to make more nuanced decisions about their crypto portfolios. This tool leverages artificial intelligence to predict the Bull Market Price (BMP) for specific cryptocurrencies, empowering investors with valuable insights for informed decision-making.
“AI-powered analytics are crucial in the volatile and unpredictable field of cryptocurrency, as they provide an additional data-driven approach to securing profits,” the company added.
Exit Strategy tool to be important in upcoming bull market
CoinStats believes the tool would prove useful with the impending crypto bull market catalyzed by the spot Bitcoin exchange-traded funds (ETFs) approval in the U.S.
Several market observers noted that the crypto market would react positively to this development and further predicted that the upcoming BTC halving event would act as another catalyst for the industry.
CoinStats CEO Narek Gevorgyanย revealed that he came up with the feature idea because most people hold a surging digital asset “with no idea when they want to sell.” So, the Exit Strategy feature would help these users “set and stick to a selling plan” that would allow them to profit from market rises.
“The biggest mistake I see people making in crypto is not having a plan, they hold a pumping token with no idea when they want to sell. It’s essential to have exact selling prices for your positions, this gave me the idea for a new CoinStats feature,” Gevorgyan said.
CoinStats new users will be prompted to integrate the Exit Strategy feature and establish target prices for selling their assets. Once integrated into their profiles, investors can effortlessly review their target prices through the Exit Strategy view, conveniently accessible alongside the portfolio view.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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