Bitget Coin Monitor Bot AMA

Hello everyone! I'm Lyn, the host of AMA today. I am also the Operation Manager of Bitget English Telegram Community.

To help you learn more about our Coin Monitor function on #Chat Room channel (https://t.me/BitgetENOfficial/511) which has been launched for several weeks, here we are holding an AMA in the Bitget English Telegram Community.

Today our guest is Niko! I think that most of our group members have been quite familiar with her as she is an Operation Manager of our Telegram community too. So let's skip the self-introduction segment and go straight to today’s topic.

Q1: Please briefly introduce the Coin Monitor Bot you have created to us and especially what’s the value of it.

A1: Value of the Bot:
High-frequency pushes tokens information with short-term high gains to help users obtain market opportunities in the first place.
Based on this information, traders can pay attention to specific tokens, analyze the related news which pumped the price, and judge the continuity of the upward trend, so as to seize trading opportunities.

Q2: So what are the advantages of our newly created Coin Monitor Bot compared to our competitors’?

A2:
(1) You don’t need to spend much time checking token price on CMC, CG or CEX pages to find hot tokens, high-rise tokens. Coin Monitor Bot can automatically remind you to make you seize many more opportunities.
(2) The Bot has already filtered some low-volume low-liquidity tokens whose price can sharply go up and down in a short time. Usually these kinds of tokens have high risks and they are not good assets to be invested in. Some low-liquidity tokens have risks in their contract, which may steal your token or charge you a large tax fee on chain.

Q3: Why do our Bitget wants to start this coin monitor bot, any pain point would you like to solve?

A3: The most important reason is to provide convenience to the users and save the users’ time. With the exception of professional traders, few people can always keep an eye on the candlestick chart or the website like CMC. And since Bitget is devoted to providing our customers with “better trading, better life”, our institute has designed and developed such a coin monitor bot.

Q4: During the bot development, is everything going according to your plan? Are there any technical barriers that you think could pose limitations for mass adoption?

A4: Well, actually there were no technical barriers during the bot development as far as I know. The bot logic is very simple: the main thing is to develop a push standard, and repeat debugging according to the actual push results. Technically we mainly focused on spider + filter + push, nothing special. Our colleagues did not encounter too many problems on the bot development.

Q5: Would you like to explain the logic of Coin Monitor Bot to us?

A5: The data source is Coinmarketcap. And here we have the following 3 conditions which must be met at the same time:

(1) price rise >= +5% in 1 hour and >= +10% in 10 min (meanwhile).

[Reason]

（A）Price rise >= +5% in 1 hour : The selected tokens need to be in an upward trend, rather than short-term violent fluctuations, skyrocketing and plummeting;

（B）Price rise >= +10% in 10min : Under the current market conditions, tokens that rise due to related positive news can relatively easily meet this standard;

(2) 24h trading volume >= 500,000 USD

[Reason]

Tokens with low trading volume may have poor liquidity. Buying with a small amount of funds can make it rise sharply in a short period of time, rather than the price rising because of related good news, and the continuity of such a rise is weak;

(3) Circulating market cap >= 1 million USD

[Reason]

At present, this market cap roughly includes tokens whose market cap ranks within 2,000 in CMC. Tokens with too small market cap have problems such as high volatility in a short period of time and are too risky.

Disclaimer:
(1) The short-term surge of some tokens may only be due to their poor liquidity and depth, and only a small amount of buying funds can cause them to rise sharply, and they can also fall sharply in a short period of time;

(2) At the same time, the short-term surge brought about by the news is likely to fall rapidly after the "over valuation", and users need to make investment choices based on their own judgment;

This is without any financial advice, please do your own research while trading in Bitget!