A new trading bot developed by London-based crypto trader Andrei Badoiu buys BTC whenever Elon Musk tweets about Bitcoin.
During an interview with Decrypt, Badoiu said that he was motivated to develop the trading bot after noticing the impact on crypto prices whenever Musk made an announcement related to Bitcoin. Badoiu says the bot can execute trades within seconds of Musk publishing a tweet.
The developer explained traders have a long history of using tools to buy or sell stocks based upon the influence of powerful market figures. Badoiu’s bot is designed to capitalize on the short-term pump generated each time Musk tweets about Bitcoin, resulting in a quick profit.
Despite relying upon Twitter notifications, Badoiu’s bot is still too complex for the average user to benefit from.
According to Decrypt’s report:
“Would-be users of the bot must configure it by means of Twitter developer tools and an account tied to the trading platform MetaTrader 5—steps that are likely too daunting for the average Bitcoin buyer.”
Badoiu said he was motivated by the interest the project generated through Reddit and GitHub and hopes that Coinbase and other large exchanges will make it easy for their users to do bot-based trading.