With the Bitcoin fear and greed index at extreme fear levels, an analyst from The House of Crypto suggests it’s a good time to buy, following Warren Buffett’s advice to “buy fear and sell greed.”
The analyst focused on a specific sector and noted that AI crypto projects often experience strong gains after short-term downturns.
Bullish Outlook for AI Cryptos Amidst Global Market Surge
The analyst explained a bullish macro outlook, citing surging global stock markets and Nvidia reaching all-time highs as positive influences on AI cryptos. He highlighted three AI altcoins he is optimistic about, including key buying areas and the current macro environment.
The current extreme fear index is viewed as a bullish signal for crypto. The analyst expects Bitcoin to rise, which should lead to gains in altcoins as well.
Top AI Cryptos to Watch
Coin 1: AIOZ: AIOZ, which combines AI with decentralized storage and streaming, recently partnered with Nvidia. Once considered a dead project, AIOZ has surged in value and undergone a healthy correction. Despite its high market cap, the analyst expects it to grow into a multi-billion-dollar market cap, driven by demand for AI and decentralized solutions. He anticipates potential short-term price drops and plans to buy more if they occur.
Coin 2: Aethir: Aethir provides powerful on-demand GPU compute solutions, crucial for AI and GPU-intensive applications. With over 43,000 enterprise-grade GPUs available, it supports large language models like ChatGPT. The coin has a market cap of $266 million, with only 9% of its supply in circulation. Despite the current market conditions, Aethir’s potential for growth is high, and the analyst sees a possible 15x to 20x increase if market conditions improve.
Coin 3: io.net: io.net, which recently partnered with Aethir and Render, offers decentralized GPU solutions. Positioned within the growing AI market, io.net uses decentralized GPU clusters globally, making it cost-effective and flexible. With a market cap of $220 million and 11% of its supply circulating, io.net has substantial potential, especially as AI continues to grow. Despite a challenging start due to bearish market conditions, the project shows promise and strong buying interest at lower levels.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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