Swissquote SwissNet launched the Bitcoin Exchange trading products

nRunaway Comment: SwissBank Services has launched the Bitcoin Active Certificate, a Bitcoin exchange trading certificate. Using technical indicators, buying and selling pressure, and sentiment analysis of social media, it predicts short-term market movements using machine learning algorithms to suppress cryptocurrency fluctuations. And based on people’s confidence in the prediction of bitcoin prices, it decided to hold the currency form of the portfolio, mainly bitcoin, while the rest was in U.S. dollars.n
nTranslation: Annie_Xun
Online banking service Swissquote Bank has released a bitcoin exchange trading certificate and said it can curb cryptocurrency fluctuations.n
Bitcoin Active Certificate leverages technical metrics, buying and selling pressure, and sentiment analysis on social media to predict short-term market movements via machine learning algorithms and convert investor shares between Bitcoin and the U.S. dollar.n
Swissquote says:n
n”Our strategic focus is to reduce volatility by increasing the amount of cash held during the uncertain and recessionary periods, a strategic move to reduce volatility and create a continuous potential return for a long period of time.”n
n60% -100% of the bank’s holdings of interpreted holdings are in the form of bitcoin, depending on the level of confidence in bitcoin price forecasts, while the rest are held in dollars. The transaction will be conducted on the Swiss Exchange SIX Swiss Exchange.n
Bloomberg reports that Peter Rosenstreich, director of banking strategy at the market, said:n
n”Encrypting money is exciting for investors, but its volatility keeps them nervous, so we’re trying to build a trading algorithm that offers downside risk protection.”n
nImportantly, the new certificate is not the first move by banks into the cryptocurrency space.n
July Swissquote announces new bitcoin futures contract with Bitstamp, the digital currency exchange. This service allows customers to exchange euro and dollar with bitcoin through their own account.n

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