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As we approach the fourth quarter of 2024, the cryptocurrency market is heating up. The Bittensor (TAO) forecast suggests a promising rally might be on the horizon as it nears a pivotal $400 resistance level. Meanwhile, Bitcoin has seen a notable 2.6% increase in price following a U.S. Federal Reserve
Making waves in the crypto industry today, Bittensor (TAO) is showing an impressive annual increase. The current explosion in artificial intelligence adoption has spurred more interest in cryptocurrencies, and Bittensor is conspicuously leading in this regard. Related Reading: AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation Details TAO has shown an amazing 1,000% price rise over the last year. The digital asset was up by a solid 65% this month. Looking ahead, CoinCodex projects a whopping 243% price rise, maybe reaching $1,827 by October 23, 2024, therefore inspiring investor hope. Right now, Bittensor is trading at $525, slightly below the vital $530 threshold. This shows strong market mood since it indicates an 81% sustained upward push in the past week. Given the good technical indicators and a positive view of the next months, traders are excited to see how high TAO may get. Strong Market Momentum At the moment, Bittensor is riding a wave of strong upward progress. The price went up by 40% after a recent wedge exit, setting the asset up for more gains. Bittensor’s futures open interest has gone from $61 million to $114 million, showing that investors are taking notice. This rise means that more investors are starting new positions, which means that money is coming into TAO. Moreover, the recent price increase has been accompanied by heightened bullish signals. With liquidation for short positions at a yearly high of $1.45 million, people betting against the market are driven from their positions. Long position liquidations, meantime, have been somewhat minimal, just $139,000 over the past week. This pattern shows increasing confidence among investors thinking about the future price movement of Bittensor. Positive Mood And Price Projections Expectations are that this optimism regarding Bittensor will hold. Furthermore, according to CoinCodex, this will result in an increase of up to 240% as the figures could rise to $1,827 come October 23, 2024. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains The fear & greed index is little changed at 50, and technical indicators are close to neutral. Such a signal is an indicator that investors in the market are staying positive about the prospects of the coin registering more gains ahead. With 16 of his 30 trading days posted in the green over the past 30 days, Bittensor has a 53% success record. Coupled with a 17.69% price volatility, this result suggests a healthy state of the market. Bittensor: Strong Market Signals Bittensor is fairly positioned within the AI coins sphere. Its phenomenal price pump and solid market signals give hope to traders about its prospects. Hence, soaring open interest, a high liquidation rate on short positions, and positive projections for the price indicate that Bittensor may record decent profits in the coming months. Featured image from X/@CryptoGirlNova, chart from TradingView
Bitcoin's rally to $64,000 increased traders' interest in altcoins like AVAX, SUI, TAO and AAVE.
Decentralized blockchain network Bittensor and its native token, TAO, have shown significant upward momentum over the past month, consistently outperforming major cryptocurrencies such as Bitcoin and Ethereum across all time frames. Designed for decentralized finance (DeFi) applications, TAO has surged past the $400 mark, achieving nearly 45% gains in the last month alone and an impressive 695% increase year-to-date. Analysts are optimistic about the token’s future potential, especially given that TAO reached an all-time high of $757 earlier this year. Many market experts believe that TAO could approach this price level again before the year ends. Keys Behind The Bittensor Price Rally Technical analyst Altcoin Miyagi has commented on the recent price action, noting that Bittensor has quickly moved past liquidity zones and is nearing a key target of $450. He anticipates a brief correction and some volatility before the price continues its ascent towards $600. Miyagi also highlights the impending “artificial intelligence (AI) season,” which he believes will heighten investor interest in TAO and drive further price appreciation. This optimism is rooted in Bittensor’s goal to develop decentralized AI production. According to Bittensor’s official website, TAO is the decentralized currency that powers the production of AI within subnets. These interconnected subnets facilitate profitable interactions, allowing different AI entities to share and enhance each other’s capabilities. Related Reading: MicroStrategys Bitcoin Stash Exceeds 250,000 BTC Following Half-Billion Dollar Acquisition Supporting this bullish outlook, analyst Dread Bongo emphasizes the transformative impact of AI on various sectors, noting that the pace of change is accelerating rapidly. The analyst cites innovations from AI startups and established companies alike, including the recent launch of a record-breaking $30 billion fund by asset manager and crypto exchange-traded fund (ETF) issuer BlackRock and Microsoft aimed at bolstering AI infrastructure. Bongo believes that the AI sector, currently ranked #30 on CoinGecko, is significantly undervalued and poised for growth. He predicts that AI within the cryptocurrency space could rival established categories such as Layer 1 protocols, smart contracts, and stablecoins. With this context, Bongo argues that TAO is well-positioned to capture a significant share of the artificial intelligence market, setting the stage for potentially substantial future gains. Analysts Eye $1,000 Target For TAO Currently trading at $415, TAO has experienced a surge of over 43% in the past seven days and a 10% increase in the last 24 hours. Despite this performance, the token remains approximately 45% below its all-time high in April. Market analyst Crypto Pirates has noted that TAO has recently broken out of a 100-day consolidation period following its recent correction. After peaking, the token experienced a drastic decline, losing over 80% of its value and plummeting to as low as $163 during the broader market crash on August 5. However, according to Crypto Pirates, this ongoing breakout could signal the beginning of a major upward move for the TAO token. Related Reading: Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near? Adding to the bullish sentiment, analyst EyeofCyber has expressed confidence that TAO could reach the $1,000 milestone as early as next week. He emphasizes that Bittensor is at the forefront of decentralized training, stating, Everyone WANTS $TAO. Despite this optimism, market behavior often includes corrections after strong price advances. Pullbacks may occur in the coming days, making it crucial for TAO to hold lower support levels to maintain the current bullish trend and achieve further price gains. Featured image from DALL-E, chart from TradingView.com
Grayscale has introduced two new crypto investment trusts, focusing on the Sui blockchain and the decentralized AI network Bittensor, according to an Aug. 7 statement. The Grayscale Bittensor Trust will invest in Bittensor’s native TAO token, while the Grayscale Sui Trust will focus exclusively on Sui’s SUI token. Rayhaneh Sharif-Askary, Grayscale’s Head of Product & […]
The post Grayscale adds Sui and Bittensor trusts to its crypto product suite appeared first on CryptoSlate.
Grayscale has added the Bittensor protocol and the Sui network to its list of crypto investment products.
Altcoin traders could send MATIC, SUI, RENDER and TAO higher if Bitcoin manages to continue trading above $64,000.
Bittensor (TAO) has been one of the best-performing AI (Artificial Intelligence) tokens this cycle after surging 180% during Q1 2024. The token has significantly retraced from its march all-time high (ATH) and is currently testing key resistance levels. Some crypto analysts seem unsure about TAOs short-term performance but remain bullish long-term. Bittensor To Lead The [...]
The post Bittensor (TAO) To Lead The AI Wave: Analysts Bullish Despite 10% Price Drop appeared first on Crypto Breaking News.
Bitcoin bulls are trying to flip $60,000 to support, and if that happens, ETH, SUI, TAO and NOT could move higher.
All user funds are safe following the network halt, according to the Bittensor team.
Bittensor (TAO) is trading at $421.32, reflecting a decline of 5.54% in the last 24 hours. The broader technical trend remains bearish, with price action consistently trading below short-term resistance levels. Looking at the larger time frame TAO is showing bullish price trajectory and significantly up by almost 75%. Bittensor (TAO) Eyes Support at $412 […]
Following weeks of sideways movement, Bittensor (TAO) has broken out of its long-standing downtrend firmly, crossing above important resistance levels and reigniting investor interest. Highlights a clear Break of Structure (BOS) above $270 as a confirmation of the reversal thesis quietly building up in the recent sessions. This structural break has more than a symbolic […]
Bittensor’s TAO is making waves as the broader market remains engulfed in fears fueled by Trumps tariff threats and looming Fed rate decisions. As the AI-fueled token, TAO has positioned itself at the forefront of education, finance, and the web. Wikipedias being drained by AI models. 75% of banks are building with Gen AI. And […]
Explore how Qubetics, Bittensor (TAO), and Tron are reshaping the blockchain scene in 2025. Learn why these are the best crypto presale picks now.
The post Qubetics, Bittensor (TAO), and Tron in 2025: Which Crypto Stands Out in the Best Crypto Presale Race? appeared first on Kanalcoin.
Bittensor (TAO), after facing a huge sell-off and downward trend, is now shifting from a bearish to a bullish phase. TAO hit its recent low at $164 and strongly rebounded from this level and is on the verge of a breakout. Over the past week, Bittensor is up by 8%, showing signs for further upward […]
Bittensor’s 10 subnets are making waves despite being relatively unknown. Based on their technology, adoption, and current price action, an expert offers a breakdown for each subnet, showcasing their unique use cases in the evolving world of the decentralized AI ecosystem. The first in the list is the “OG subnet,” Templar (SN3), which comes with […]
Bittensor’s price prediction for April suggests a continued recovery, with the potential to reach the $280.00 mark soon. The technical chart structure appears bullish, forming a clear trend reversal pattern. Moreover, bulls seem more aggressive than bears, signaling strong buying interest. Furthermore, the probability of continuing the upward momentum remains
Qubetics presale surges past 501M $TICS sold, Bitcoin Cash gains strong bullish sentiment, and Bittensors AI-powered blockchain expands. Could these be the best crypto investments of 2025?
The post Qubetics Weekly 10% GrowthBest Crypto Investment Before 2025s Boom? Bitcoin Cash and Bittensor Join the Race! appeared first on Kanalcoin.
Bittensor (TAO) is showing strong signs of recovery after enduring a turbulent period that dragged its price to significant lows. The AI-focused blockchain project recently hit a low of $213, marking a sharp 30% decline over the past month as the broader crypto market struggled with bearish momentum. Even in the last seven days, TAO […]
TAO rallied 164% in the last 30 days and data suggests there is room for the AI token to move higher.
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