Problems Statement

The Crypto Market State

Since its advent in 2009, the cryptocurrency market has seen exponential growth, from 8 million in 2016 to 420 million users worldwide. By 2030, Boston Consulting Group, a global business consulting organization, has predicted that the industry would likely have about one billion users.

The global cryptocurrency market was valued at $1.49 billion in 2020 and is projected to reach $4.94 billion by 2030, growing at a compound annual growth rate of 12.8% from 2021 to 2030. This is unsurprising given that global spending in the Metaverse alone is projected to reach $5 trillion by 2030.

Market Problems

The rags-to-riches stories of Bitcoin millionaires have spurred many to enter the market with great hopes. However, cryptocurrency, like any other financial market, is highly volatile. A study by the Sao Paulo School of Economics found that 97% of day traders lost money over a period of 300 days.

Failure among beginner traders can be attributed to a number of factors.

• Complex yet unautomated Technical Analysis tools

• Too many Cryptocurrencies

• Traders lack knowledge

• Biases, emotions, and social influence affect trading decisions

Our Solutions: The Alchemist - A one-stop platform that covers all the needs of traders

• Automate the grunt work of technical analysis with algorithms

• Spot the next big crypto by employing AI on on-chain data

• Copy the trades of experienced investors

• Free educational resources to traders of all levels