With the Bitcoin fear and greed index hitting extreme fear levels, the analyst of The House of Crypto believes it’s a good time to buy, following Warren Buffett’s advice to “buy fear and sell greed.” He concentrated on a particular sector in his latest analysis and said that AI crypto projects typically see significant upside after short-term bearish trends.
He explained a bullish macro outlook with surging global stock markets and Nvidia hitting all-time highs, which positively impacts AI cryptos. He discussed three AI altcoins he is bullish on, key buying areas, and the macro environment. The current extreme fear index is seen as a bullish signal for crypto and he expects Bitcoin to move higher, which will lead to gains in altcoins as well.
Coin 1: AIOZ
AIOZ, a project that combines AI with decentralized storage and streaming, recently partnered with Nvidia. He pointed out that AIOZ, once seen as a dead project, saw a huge surge in value and a healthy correction.
Despite its high market cap, he expects it will grow into a multi-billion-dollar market cap, driven by the demand for AI and decentralized solutions. He sees potential for short-term price drops but plans to buy more if it happens.
Coin 2: Aethir
Moving to another project, Aethir, known for providing powerful GPU compute solutions on demand, isn’t just limited to AI but is crucial for GPU power, which is dominated by Nvidia. With 43,000+ enterprise-grade GPUs available, this coin supports large language models like ChatGPT.
With a market cap of $266 million and only 9% of the supply circulating, the potential for growth is high, particularly with most tokens locked until after the anticipated bull market. The analyst said that despite the market’s conditions, it has maintained a strong position, suggesting a potential 15x to 20x increase if market conditions are favorable.
Coin 3: io.net
Lastly, io.net, a recent partnership with Aethir and Render, offers similar decentralized GPU solutions. Positioned within the growing AI market, io.net leverages decentralized GPU clusters globally, making it more cost-effective and geographically flexible.
With a market cap of $220 million and 11% of the supply circulating, io.net’s potential is substantial, especially as it aligns with the ongoing surge in AI growth. Despite a rough start due to bearish market conditions, the project shows promise with great buying interest at lower levels.
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