Trading algorithms are not exclusive to cryptocurrencies; they are tools in any financial market that automate processes. It took 10 minutes to build this Bitcoin trading bot using AI prompts on ChatGPT, said Rekt Fencer. Backtesting is carried out in a simulation environment and is often used as a dress rehearsal for subsequent development or real-world trials. Skeptical community members pointed out that the X thread mentioned only profits and no losses, an unlikely scenario if actual trades were executed in the open market.
Users should be cautious when implementing any automated trading system and deploying real capital.