GNY Crypto: Using Machine Learning to Predict Crypto Prices

Machine learning and artificial intelligence (AI) are grabbing the attention of the world with a free service called ChatGPT, which can provide instant answers to almost any factual type of question and even create schedules and outlines. In a similar vein, GNY is a platform that combines AI, machine learning and blockchain technology to analyze data and make more accurate predictions. The first use of this service was for Bitcoin trading. Predicting Bitcoin volatility is important for successful trading. However, it can be challenging. GNY makes it easier to make profitable plays.

Key Takeaways:

• GNY is a crypto application that makes use of machine learning to make crypto price predictions. These price predictions are released through its GNY Range Reports.
• Only BTC price predictions are available at the moment, but the GNY team is working on including more cryptocurrencies in its GNY Range Reports.
• GNY token holders can receive rewards in ETH or GNY based on the actions taken on the GNY ecosystem.

What Is GNY?

History of GNY

Cosmas Wong, a tech entrepreneur and investor who has 20 years of experience, founded GNY in 2015. His background includes business strategy, intellectual property and investing. Wong had a vision of developing a way to organize and analyze price data to make more accurate price predictions.

Because Wong wanted the tool to be accessible to as many people as possible, he chose to decentralize it. The GNY team developed a token and their own blockchain. Businesses can use GNY to analyze other types of data and develop new applications as side chains.

GNY's technology has even been used to help catch pedophiles. The Child Rescue Coalition received a grant from GNY to continue enhancing the former’s technology, which helps law enforcement catch and track child predators. So far, the CRC technology has led to the arrest of over 14,500 child predators. More than 3,300 child victims have been saved.

What Does GNY Aim to Achieve?

The GNY team strives to address the problem of emotions getting in the way of crypto trading. Machine learning analyzes all past data to predict where a price will go next. Normally, traders do this research manually, with different strategies to figure out which strategy is most profitable. However, this takes a lot of time. Bitcoin traders may want to consider using the GNY Range Report, either for predictions or to supplement their own. As of now, only Bitcoin trading is supported, but the team plans on making the technology available for other cryptocurrencies.

GNY makes it easier for businesses and developers to bring their ideas to fruition. The platform can assist with launching tokens, creating decentralized applications (DApps), custom coding and writing smart contracts. It has low transaction costs and fast speeds, making it a practical blockchain to use.

How Does GNY Work?

GNY has an ETL node and an ML node that teach themselves the solutions to problems. It can read the entire blockchain or the current block. Deep learning, an AI method that was inspired by the workings of the human brain, is used to allow the technology to make predictions. This enables the AI to detect complex patterns in pictures, text and other data. Each block of the GNY network contains a “neuron” and the entire blockchain is the neural network.

If you've heard of ChatGPT, you may be wondering if this is the same technology. There are similarities, but GNY is unique. The GNY team has even applied for a patent to protect it.

After a batch of data is processed, GNY calculates the mean absolute percentage error (MAPE) to determine accuracy. MAPE is a formula used in statistics and deep learning for estimating how accurate a data set or algorithm is. Several machine learning algorithms in this platform use tiers to extract features from data and make predictions.

The GNY BTC Range Report predicts Bitcoin's volatility and price over the next seven days. However, it's important to note that the Report itself isn't financial advice. You’re still taking on risks, so you need to stay aware and cautious. Standard rules of investing and trading, such as never risking more than you’re willing and able to lose, continue to apply with a machine learning tool like GNY.

Features of GNY

GNY Range Report

The GNY Range Report is a seven-day forecast of cryptocurrency based on all past data. In predicting future Bitcoin prices, the report estimates upcoming highs and lows. This helps users place both take-profit and stop-loss. The Bitcoin range report is refreshed daily at 11:00 UTC and draws upon data from over 70 datasets and millions of combined datapoints.

The GNY Range Report displays an opportunity zone of recommended entry and exit points, which is especially helpful for new Bitcoin traders. Other included features for more experienced traders are hourly and daily trading indicators, such as RSI, parabolic SAR and the hikkake pattern. The developers plan on adding new features and indicators over time.

The GNY Range Report is available at $20 a month, with the first two weeks free. According to its website, the $20 fee is a limited-time introductory pricing, so you might want to sign up early.

GNY Swapgate

GNY Swapgate allows you to swap your GNY ERC-20 tokens into GNY mainnet tokens. You need mainnet GNY tokens to access utilities. In the web3 space, “utilities” refers to the features an app, crypto or NFT provides. The mainnet is the final version of a blockchain that's available to the public. Most developers operate a testnet before launching a mainnet. GNY plans on updating its Swapgate to provide additional features.

GNYi-Network Rewards

Holders of GNY tokens receive network rewards for taking certain actions, such as holding the tokens or adding them to their wallet. Future plans to expand the rewards program will provide holders with access to cryptocurrency predictions and insights.

GNY Wallet

You can use the GNY Wallet on desktop, Android and iOS devices. Delegates are able to vote through their wallet, too.

GNY Mobile Wallet

Not all of the features on the desktop wallet are available on the mobile wallet yet. The team is working on adding these features. Currently, you can transfer tokens, vote, create and launch assets on the mobile wallet.

GNY Desktop Wallet

At this point in time, only the desktop wallet lets you use the Swapgate and delegate registration functions.

GNY Road Map

In 2022, GNY delivered many features for its platform, including a mobile wallet, rewards program, Swapgate and the BTC Range Report. In 2022 the platform migrated to the mainnet as well. The team isn't slowing down anytime soon, and has big plans for 2023.

New features coming in 2023 include:

• DNFTs (Data NFTs)
• Top 10 tokens for the Range Report
• New DEX indicators coming in 2023
• Man vs. Machina
• Gamified crypto trading

Bitcoin trading will soon no longer be the only cryptocurrency market supported by the GNY Range Report. The top 10 cryptocurrencies from CoinMarketCap and community voting will also feature range reports. This expansion will draw in new users from the cryptocurrency market, who may begin holding GNY tokens for their utilities. This will give existing holders additional earning opportunities if they're ready to trade other cryptos besides BTC.

The GNY team hasn't yet revealed which new DEX indicators are coming, but they’ve confirmed that more will be added in 2023.

GNY Tokenomics

Sales of GNY products provide liquidity for rewarding holders, with rewards in ETH or GNY tokens, depending on the type of action that they take. Special features of the range reports are token-gated to encourage more customers to hold GNY tokens. Examples of token-gated features are custom notifications, market threshold indicators and trading signals. GNY has locked up 200 million tokens to help ensure scarcity and maintain value.

GNY Price Prediction

As of Mar 21, 2023, the GNY price is $0.0737. DigitalCoinPrice expects GNY's price to hit $0.16 by the end of 2023 and $0.26 by the end of 2025, and to double by 2029 to $0.53 and cross the $1 mark by 2031. 

While GNY crashed to a low of $0.012 in the cryptocurrency bear market of 2022, it has shown slight growth in February 2023, when it surged in price up to $0.189.

PricePrediction shares similar bullish sentiments to DigitalCoinPrice, but is even more positive in the long term. It places the price of GNY at $0.14 in 2023 and $0.29 in 2025, anticipating that GNY will cross the $1 mark by 2029 to $1.27, and achieve a price of $2.79 by 2031.

Is GNY a Good Investment?

GNY is suitable for investors who have a high-risk tolerance and a willingness to play a long-term game. If you feel passionate about what GNY is building, you may also find that it's a good investment. People tend to feel the happiest when they put their money into something that they actually like. However, do pay attention to the numbers and take them into consideration. Price predictions don't expect massive growth for this token, so you may not want to put a significant amount of your capital into it.

The Bottom Line

If you’re looking for an accurate way to predict future Bitcoin prices, GNY is an excellent tool to use. An additional benefit of this platform is that holding its token could pay off if it surges in value.

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