Meanwhile, the crypto market has faded some of the exuberance that saw bulls push prices higher after a US judge’s ruling delivered a partial win for Ripple in its case with the SEC. While XRP remains largely bullish with over 55% gains over the past week, Bitcoin, Ethereum are holding key levels.Analysts on Bitcoin, Ethereum price prediction amid low liquidity
Analysts say the V-shaped action seen across the crypto market could be the beginning of a slow grind amid choppy conditions. They see the next few months resembling the pre-bull market action of 2016 and 2019-2020.
Bitcoin’s dip to lows of $29,700 and Ethereum to $1,875 was mirrored across major altcoins. But the crypto market quickly rebounded to above key levels in V-shaped action fueled by buy-side pressure during Asian trading hours on Tuesday morning.
Market analysts at Greeks.live point to low liquidity, a scenario that has prices prone to spikes and V-shaped recovery. This is because with prices constrained in tight ranges, a little momentum in either direction can see significant dips or sharp bounces.
Axel Adler Jr., a data analyst at on-chain analytics platform CryptoQuant says about Bitcoin:
“The price of Bitcoin has been lodged within a narrow corridor for the past three months, and this can be explained by several key factors: short-term holders, miners, and volatility. All these factors together form the current picture of the Bitcoin market, where the price appears to be “stuck” in a narrow range. However, as always with cryptocurrencies, changes can occur very quickly, so investors and traders should closely monitor on-chain metrics to stay informed about market changes.”
On-chain and financial data platform Glassnode highlights that despite the current price outlook, a number of metrics suggest a “slow but steady capital inflow” into BTC. Even then, the prediction is for choppy market conditions that could resemble historical price movements during the bear periods in 2016 and 2019-2020.
What does this mean for AltSignals, a new project seeing huge interest in its token presale? The best place to begin is to understand what this project is and what it offers.What is AltSignals?
AltSignals is a trading platform that gives traders access to key trading signals so that they know when to buy or sell stocks, forex and crypto among other market assets. The company currently offers its trading algorithm to more than 50,000 traders and over 1,500 VIP subscribers.
The platform has been a success since its launch in 2017. However, the team is looking to add a new layer powered by artificial intelligence (AI), revamping the proprietary AltAlgo trading algorithm for what could become the new standard of AI trading.
ActualizeAI is that new layer, which will tap into machine learning and natural language processing to increase both accuracy and profitability of trades for holders of the native token $ASI. Token utility for $ASI includes opportunity to earn from staking, trading tournaments and rewards for governance support that helps the platform grow.
Talking of $ASI, the presale opened a few weeks ago and could be sold out within coming weeks as investors looking to tap into the AI layer pour into the project.
Learn more about $ASI and how to buy it here.AI is a strong narrative for AltSignals
The scenario is that AltSignals sits at a key intersection of two hot trends in the market today – crypto and AI.
With the latter projected to be at the start of what could be a technological leap and the former “here to stay”, predictions for AltSignals are that delivering on its ActualizeAI milestones could coincide with a period of huge gains for its AI-powered token.
Notably, price gains for ASI could tie in with projections such as that of Morgan Stanley, which recently predicted Microsoft (NASDAQ: MSFT) could see up to $90 billion in AI revenue by 2025. Meta, Google and Nvidia are all also betting big on AI.AltSignals price prediction: can ASI reach $10 by 2025?
While the ASI presale price will rise to $0.02274 by the end of the fourth stage, the period between Q3, 2023 and Q2, 2024 could see it trade higher and reach key levels. The highlighted dates are when ASI goes live on major crypto exchanges (historically tokens explode when listed on exchanges such as Binance and Coinbase) and ActualizeAI launches to the public.
If market conditions align and demand for ASI token remains high, its possible prices could hit $1 by end of 2023. From here, the targets of $5-$10 in late 2024 and early 2025 would materialize. This would mean a 5x, 10x move from the psychological $1 level, not uncommon in the crypto market particularly during a bull market.
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