AI Predicts +119% NEAR Protocol Price Increase After Bitcoin Halving

 Key highlights:

• According to an AI analysis, the next big Bitcoin halving in April 2024 could bring a major bull run that lifts many coins to new heights.
• The model forecasts NEAR Protocol tripling to $4.63 as developers expand the ecosystem and true utility takes shape.
• With technology advances like new programming languages and scaling solutions, things are looking grand for another performance to remember come 2024.

The cryptocurrency market moves in mysterious ways sometimes, but there are also patterns that seasoned analysts have learned to spot. One phenomenon that consistently triggers major bull runs is Bitcoin’s quadrennial halving event.

Every four years, the number of Bitcoin awarded to miners for validating transactions is cut in half, reducing new coin supply and putting downward pressure on inflation. This programmed reduction in circulating supply has proven time and again to kick off massive bull markets lasting 12-18 months.

Issuingo one can say for certain what will happen, AI-powered price prediction models have begun issuing forecasts for how individual coins may perform after the next halving in April 2024. One project that a popular algorithm expects to gain strongly is NEAR Protocol, with a forecast price target of $4.63- representing an upside of 119% from current levels.

What does AI foresee for NEAR after 2024?

So if history repeats itself, what could that mean for NEAR Protocol? Let’s take a look at what AI is predicting for NEAR’s price in 2024 and beyond using predictive algorithms and historical data.

According to CoinCodex AI, NEAR is forecasted to reach $4.63 after the next Bitcoin halving in May 2024. That would represent an impressive 119% increase from NEAR’s current price of around $2.10.

The AI model takes into account several key factors to arrive at this prediction:

• Bitcoin halving cycles– As mentioned, each BTC halving to date has pumped massive volumes of capital into the crypto markets. NEAR will likely benefit indirectly.
• NEAR fundamentals– The project is actively developing its programmable blockchain to support decentralized applications. Growing on-chain activity bodes well long term.
• Historical performance– NEAR saw strong gains during the 2017 and 2021 bull runs, outperforming assets like Ethereum and Bitcoin. This supplies data to predict future rebounds.
• Macroeconomic conditions– Inflation worries and economic uncertainty tend to boost demand for perceived store-of-value assets. This could provide additional tailwinds.

By modeling these and other inputs, the AI arrives at a quite bullish NEAR price point of $4.63 within two months post-halving. Of course, predictions are never certain- but the fundamentals and historical context provide good reason for optimism.

Why NEAR may continue its upward trajectory

Beyond 2024, there are several project-specific reasons to believe the NEAR Protocol could maintain an upward price trend over the long run:

Growing developer interest

NEAR currently ranks among the most invested blockchains for developer activity and growth. Its WebAssembly-based smart contracts make it highly programmable, attracting builders. Growing developer ranks typically portends higher prices long term as network utility rises.

Interoperability development

The NEAR Foundation is actively working to improve cross-chain interoperability. Recent integrations with Polygon could allow NEAR DApps and Ethereum assets to communicate seamlessly. Greater connectivity often drives up blockchain asset values.

Funding & partnerships

NEAR continues raising investment from major VCs to fund ongoing development. Partnerships with Amazon Web Services demonstrate strong industry support – a sign adoption may rise steadily. Expanding integration and usage tends to lift native token prices over the long run.

Scaling & performance upgrades

The protocol is regularly upgraded to handle scaling demands through techniques like sharding. This keeps transactions fast and costs low – key attributes that facilitate widespread usage. Scaling innovation may help NEAR gain market share from “Ethereum killers” facing bottlenecks.

The technical progress and growing support for NEAR bode well for its price trajectory staying aimed upward well past the 2024 height predicted by AI. Of course, nothing in crypto is certain- but the project’s momentum provides a reasonably bullish long-term thesis.

Recent developments bode well for NEAR

The project has been steadily enhancing its layer-1 infrastructure while expanding ecosystem partnerships and real-world utility.

A few highlights:

• The NEAR software development kit recently added support for JavaScript, opening the doors for over 20 million web developers to easily build on the blockchain.
• Major protocol upgrades like Clarity and Sharding 2.0 have significantly improved NEAR’s scalability, throughput, and flexibility.
• Partnerships with African telecom giants like MTN and global companies like Travala bring real adoption and expand the project’s vision beyond solely financial use cases.
• Institutional interest has grown, exemplified by a $150 million funding round led by prominent VC Three Arrows Capital last summer.
• The Wintermute stablecoin redemption debacle was an unfortunate hiccup, but developers are working to reassure users and regain trust in the ecosystem.

NEAR is positioning itself as the blockchain platform of choice for ambitious Web3 applications. With technology and reach advancing in tandem, the stage appears set for exogenous events like the looming halving to supercharge growth.

What does the data say about 2024?

To cut right to the technicals, let’s explore what insights the AI predictive model gleaned from NEAR’s historical price action to arrive at a $4.63 target some nine months after next April’s halving block reward reduction.

First, it observed clear cyclical bull-bear periods aligned with previous halvings in 2012, 2016, and 2020. Each saw monumental 100x+ gains peak roughly 1 year post-halving before grinding down and resetting.

Second, it took note of NEAR’s sensitivity to overall market conditions. When crypto was surging in late 2020, NEAR led gains topping +1,350% before cooling as sentiment waned. Similarly, it outperformed many blue chips this past spring.

Third, on-chain activity like transaction volume, gas usage, and wallet growth all point to fundamental strength even through the recent bear phase. Active developers number over 2,000, showing underlying value and utility beyond speculative swings.

Putting these technical signals together, the model believes all ingredients will combine powerfully starting in Q2 2024. Halving mania could lift the entire industry to new highs, and NEAR is well-positioned structurally and metrics-wise to capture outsized momentum versus history. With each metric trending in the right direction, the $4-5 territory appears within reach.

Of course, predictions are tricky business. But this analytical approach provides reasonable evidence to feel bullish on NEAR as the crypto weather vane starts shifting toward sunny skies once more. For long-term believers, it’s an encouraging sign that continued progress may deliver rewards.

Other predictions point to a bright outlook

And NEAR is not alone in receiving positive outlooks. Many other algorithms are weighing in with their bullish calls as 2024 approaches. For example:

Cardano’s price is predicted to surge over 380% to $1.75 after factoring in technical indicators and the rallying power of previous halvings. ADA continues marching toward full decentralization.

XRP could jump a whopping +180% to $1.81, benefiting from new clarity after its legal battle. Partnering with banks, it aims to transform global value transfer.

Ethereum believers see $6,000 as within reach just two months post-halving. ETH’s utility shows no signs of slowing as layer-2s and upgrades abound.

Even the original meme coin SHIB is granted +680% potential to over $0.000006, though its stay may be brief without robust ongoing development.

And a rising star like Solana could reportedly touch $400 thanks to powerful partnerships and use cases emerging to push its smart contracts platform to the next level.

In any market, having diverse perspectives helps reduce blind spots. And whether any individual call pans out, the overarching message is loud and clear: with upgrades stacking up industry-wide, the next 12-18 months shape up as incredibly lucrative for those who do their research and stratify risks prudently before the fireworks begin anew. NEAR supporters have reason to feel their patience may finally pay off spectacularly.

Staying safe amid euphoria

Of course, for every predictive “hit,” there are many “misses” – and times of great enthusiasm often breed overexuberance. So as with any speculative investment, approaching the future with prudent care remains key. Here are a few tips that may help withstand short-term turbulence and emerge stronger:

• Dollar cost average in over time to avoid obsession with short-term price swings that inevitably occur.
• Diversify broadly across uncorrelated assets rather than betting the farm on any one hopeful “moonshot.”
• Understand projects from a user and business perspective, not just technical traits, to identify sustainability.
• Set reasonable profit-taking benchmarks and stick to your predefined risk management strategy no matter the hype.
• Recognize that “the market can remain irrational longer than you can remain solvent.” Pull back if positions grow too large relative to your personal risk tolerance.

Most of all, only invest what you can afford to lose without impacting your well-being- because while predictions abound, outcomes are never guaranteed no matter the bright outlooks or advanced modeling at play.