AI tokens are seeing a price surge in anticipation of NVIDIA’s upcoming quarterly earnings report.

Over the past week, Bittensor (TAO), the native token of the decentralized AI development platform Bittensor, has risen by approximately 25%. As of today, Aug. 26, 2024, it is trading at around $345.5, with a slight 0.16% drop in the last 24 hours. Over the past year, the token’s price has jumped by 469.1%. According to crypto.news, TAO ranks 39th among cryptocurrencies by market capitalization, which exceeds $2.51 billion.

TAO is rising in anticipation of NVIDIA’s quarterly earnings report, set to be released on Wednesday. AI tokens are likely influenced by the growing demand for data centers essential for running AI chatbots.

What’s next for TAO? Will it surpass its previous all-time high of $767.68? Check out our Bittensor price prediction for 2024-2030.

What is Bittensor

Bittensor connects AI and machine learning through a decentralized approach. It’s a peer-to-peer network that leverages blockchain tokens to drive the development and adoption of AI innovations.

TAO is the native token of Bittensor. It drives user participation and streamlines how they trade resources on the Bittensor platform. What is the TAO crypto price prediction for the short and long term?

Bittensor coin price prediction: short-term outlook

According to CoinCodex’s Bittensor price prediction, TAO’s price is expected to increase by 226.71%, potentially reaching a new all-time high of $1131.7 (!) by Sept. 25, 2024. 

As of Aug. 26, 2024, the overall sentiment for the Bittensor price forecast remains bullish, with 22 technical analysis indicators showing bullish signals and 5 indicating bearish trends.

Bittensor price prediction 2024

According to DigitalCoinPrice, investors, exporters, and market experts believe that TAO will surpass its previous high of $767.68 in 2024. They predict it will then stabilize between $731.57 and $767.79.

Based on CoinCodex’s expectations for the Bittensor token, it is anticipated to trade between $346.39 and $1629.21 this year. If it hits the upper end of this range, TAO could experience a rise of 368.58%.

Wallet Investor forecasts that by the end of 2024, TAO could achieve a maximum price of $629.482.

Bittensor price prediction 2025

DigitalCoinPrice suggests that in 2025, the price of TAO could fluctuate between $749.51 and $894.36, with the most likely value stabilizing around $848.42 by year’s end.

CoinCodex’s forecast for 2025 aligns with its projection for 2024.

According to Wallet Investor’s Bittensor price prediction for 2025, TAO could potentially trade at $956.384.

Bittensor price prediction 2030

CoinCodex estimates that by 2030, TAO’s price could vary between $864.97 and $1402.48.

DigitalCoinPrice predicts that TAO’s price could climb to $2356.6 or even $2511.46 by the end of 2030. The years from 2024 to 2030 are expected to be key for the growth of Bittensor.

FAQs

Over the weekend, the Banana gun token saw a price surge based on integration news. However, after that initial spike, the BANANA coin price started to drop gradually.

On Aug. 17, the native token of the Banana Gun project surged from about $50 to nearly $62 during the day, following news of a partnership with Birdeye, the Solana on-chain data aggregator.

As of today, Aug. 19, the Banana Gun (BANANA) crypto is trading at around $50, reflecting a 6% decline over the last 24 hours. What is the BANANA token price prediction for the short and long term?

What is Banana Gun

Banana Gun is a set of Telegram-based bots for trading on Ethereum (and Ethereum layer-2 chains Base and Blast) and Solana. The tool lets you get in on new token launches before they’re officially released and helps you buy tokens that are already available on the market.

BANANA is the native token of Banana Gun and is used for unlocking additional bot features through burning, voting on proposals, accessing an exclusive holder’s chat, and earning profits from the trading bot.

What’s driving the growth of the Banana Gun coin? Let’s take a look at the latest news about the token.

Banana Gun crypto news

On Aug. 14, Banana Gun announced on X its new integration with Birdeye, a well-known Solana data aggregator and charting tool. This partnership simplifies the process for users to identify Banana transactions on the Birdeye platform. This likely contributed to the recent Banana Gun price rise on Aug. 17.

Short-term investments involve buying assets or cryptocurrencies and selling them after a short period. This approach relies on speculation, taking advantage of minor price fluctuations to make a profit. It’s best suited for investing amounts you’re comfortable to risk. Ready? Let’s go.

Short-term crypto trading strategies

What are the main short-term trading strategies, and who are they suitable for?

Day trading

Day trading is all about buying and selling cryptocurrencies within the same day or even just a few hours. Traders aim to profit from small price movements. It’s a high-risk strategy, so keep these tips in mind: 

Stick to what you know. Trade cryptocurrencies you’re already familiar with.

Use technical indicators. They can help you spot trends and make smarter decisions.

Set stop-losses. These can help you limit your losses if things don’t go as planned.

Avoid trading when emotional. Try not to let feelings dictate your trades.

Start with a small investment that you can afford to lose.

Scalping

Scalping means quickly buying and selling cryptos to profit from tiny price changes. Scalpers make lots of trades in a day, aiming for small gains each time. Key points to remember:

Look for small price movements. Scalpers profit from minimal fluctuations in price.

Use technical indicators. Tools like RSI, MACD, and moving averages help find entry and exit points.

Manage risks carefully. Setting stop-loss orders is crucial.

Choose liquid pairs. Trading in pairs with high liquidity ensures you can execute trades quickly without big price gaps.

Swing trading

Swing trading is about catching medium-term price moves by holding your positions for a few days or weeks. It blends technical and fundamental analysis. Here’s the scoop: 

Watch the trends. Keep an eye on market patterns to pick the best times to buy or sell. Make sure your trades follow the overall direction of the market, whether it’s trending up or down. 

Set stop-losses. Protect yourself from big losses by setting stop-loss orders.

Swing trading is less stressful than day trading because you have more time to analyze the market and make careful decisions.

How to choose the best cryptocurrency to invest today for short term

To pick the best crypto for short-term gain, choose coins with high liquidity and noticeable price swings but with manageable risk. The ideal cryptocurrencies should be easy to buy and sell quickly, even in unexpected market swings, with narrow spreads and minimal slippage. 

Here’s what to consider:

• Project sector. Take some time to understand what the cryptocurrency is all about — its mission, goals, and future plans. Some projects might skyrocket quickly, but that doesn’t always mean they’ll last. Knowing the project’s sector and its goals helps you assess whether it has staying power.
• Market capitalization. Think of market cap as a way to measure how “big” a cryptocurrency is. A bigger market cap usually means it’s easier to trade without causing big price swings. Plus, it’s a good indicator of investors’ interest and trust in the coin.
• Price history. Long-term charts can show you where the price usually bounces back or runs into trouble. By seeing how the price has changed in the past and what triggered those big shifts, you’ll get a better idea of what could happen next.
• News and updates. Staying updated on the latest news is crucial. Things like new regulations, tech updates, and general news can all affect how people view the coin.

Top 4 short-term cryptos

What are the best cryptos to buy now for the short term?

Ethereum

ETH is the second most popular cryptocurrency after BTC. While Bitcoin started the whole decentralized currency movement, Ethereum advanced it by building the first decentralized economy. Its smart contracts have changed the game for cryptocurrencies, making business transactions more reliable and innovative. These smart contracts are governed by their own code and cannot be altered; any attempt to change the code results in an irreversible modification that is rejected by the blockchain.

Chainlink

LINK is a crypto token that’s part of the Chainlink network. Chainlink acts as a decentralized oracle network, bridging the gap between blockchains and real-world data so that smart contracts can access external information. The LINK token pays for oracle services and compensates data providers, keeping everything accurate and secure. Chainlink and LINK are vital for enabling smart contracts and are key to many blockchain applications, including DeFi, financial markets, and IoT.

PlayDoge

PlayDoge could be an appealing choice for investors deciding which cryptocurrency to buy now. PLAY is a BEP-20 token on the Binance blockchain, enabling faster listing on its exchange than similar crypto games on other chains after the presale ends.

Inspired by the classic Tamagotchi arcade game from the 90s, PlayDoge combines entertainment with earning potential through a Play-to-Earn model. Players can earn rewards by taking care of virtual pets and going on adventures in a mini-arcade setting.

PepeUnchained

Pepe Unchained is another meme coin currently in its presale phase, and its fundraising results are impressive. Within just a week of launching, the presale attracted over $1 million in investments, and by the time of writing, this amount had exceeded $9 million. 

The PEPU token is set to be a next-level version of the famous PEPE. The team behind Pepe Unchained has big plans to expand its ecosystem, including creating DeFi and NFT projects, launching new cryptos, and exploring AI-based apps.

FAQs