Golden Pocket Reclaim Could Propel Bittensor Uptrend

• Advancements in the AI industry and strategic developments within its network are driving Bittensor (TAO)’s strong growth potential.
• Grayscale’s investment in Bittensor Trust reflects confidence in decentralized AI’s role in the future of blockchain technology.

Rising in popularity in the crypto market, Bittensor (TAO) shows indicators of a likely uptrend. Many people have lately paid close attention to the price swings, particularly as the token approaches important values.

Should Bittensor reclaim the golden pocket of the Fibonacci retracement, the uptrend is probably going to keep on, driving the token to unprecedented heights.

Often resulting in large price gains in the past, the optimistic divergence noted on the daily charts further supports this possible comeback. Reflecting increasing investor confidence, Bittensor has really almost quadrupled in value from its recent drop to $162.

$TAO 🤖

Starting to get moving now and if it reclaims the golden pocket of the fib the uptrend will continue. 📈

Bullish divergence on the daily always does bits. 🔥

Almost at 2x since dropping to $162.

🔹First target is around $450, 45% from current price.

🔹Longer term… pic.twitter.com/kbciukUY1V

— Altcoin Miyagi🤖 (@AltcoinMiyagi) August 22, 2024

Promising Targets for Bittensor Growth 

At present, Bittensor’s initial target is set at $450, a 45% rise from its present price. Long term, meanwhile, the picture is even brighter; forecasts are for $615, which would represent another two-times rise.

Some think that Bittensor might surge above $2000 by the end of this bull run if the larger crypto market keeps its uptrend. With great possibility for expansion in the next few months, these present pricing levels could soon be seen as an extraordinary purchase opportunity.

Previously, as we reported, Masa’s recent subnet success, in which the first dual-token incentive structure within the network was implemented, adds to the favorable attitude of Bittensor. This evolution has strengthened Bittensor’s place in the expanding cryptocurrency AI market.

With forecasts of major future valuation gains, the junction of artificial intelligence and blockchain is drawing considerable interest and investment. Not only are individual investors paying attention to this trend, but also big institutional entities.

Also, as CNF previously noted, leading digital asset management company Grayscale started Bittensor and Sui Trusts earlier this month, therefore broadening its investment options. The Grayscale Bittensor Trust focuses especially on TAO, the token running the Bittensor system.

This action reflects Grayscale’s conviction about the vital role Bittensor will play in the evolution of distributed artificial intelligence. Grayscale is betting on the future of open-source AI development by investing in TAO, therefore supporting the expansion of the protocol.

Meanwhile, at the time of writing, TAO was trading around $333.18, up 12.28% over the last 24 hours. This places it at the top of the day’s top gainers list.