The cryptocurrency market has witnessed a meme coin craze in recent months. The most important of these is undoubtedly Solana-based Bonk Coin. On the other hand, AVAX, which Turkish crypto investors included in their baskets, also showed a strong performance. So what route will they follow from now on? Artificial intelligence predicts what BONK and AVAX will do in the new year.
Artificial intelligence predicts BONK Coin price
Meme coin Bonk Coin (BONK) went on a strange journey in late 2023. cryptokoin.comAs you follow from , it has increased by up to 10,000% in the last 52 weeks. Thus, the market experienced several real price booms. It briefly surpassed Dogecoin (DOGE) as the most traded meme coin after being listed on Coinbase, the largest publicly traded cryptocurrency exchange. But despite this, it still remains an underdog among cryptocurrencies.
We consulted CoinCodex’s predictive artificial intelligence (AI) algorithms on where Bonk will be in a few days when the New Year rolls around, given its significant volatility and impressive but short-lived price increases. Artificial intelligence predicts that the Bonk Coin price will remain mostly stable in the first weeks of 2024. Accordingly, BONK will be traded at $ 0.00001619 on January 1. The algorithm also predicts that BONK will continue to trade in a similar manner over the next month. Accordingly, he concludes that he will find himself at $0.00001617 within 30 days. This is well above its price at the time of publication. BONK Coin was trading at $0.00001505 at the time of writing.
Bonk’s significant volatility is also reflected in the fact that 16 of the last 30 days have been green days. Finally, the “Fear & Greed Index” flags Bonk under “greed,” solidifying the meme coin’s overall uptrend in 2023 and the broader uptrend prevalent in the crypto market.
ChatGPT predicts AVAX price for the new year
The artificial intelligence takes into account various developments regarding the Avalanche when making its prediction. It also addresses recent price movements as well as strengthening its overall ecosystem. Along those lines, he initially predicts AVAX will find itself somewhere between $50 and $60. When asked to narrow this range, the AI states that it sees $42-$47 as the most reliable price. However, he emphasizes that even by crypto market standards, AVAX is experiencing significant volatility. In this context, artificial intelligence makes the following statement:
Narrowed Forecast Range: Considering these factors and the proximity to January 1, 2024, a more precise forecast price range for AVAX could be $42 to $47. This range takes into account normal volatility. However, it assumes there is no major market disruption or major news affecting the cryptocurrency market in the next few days.
Artificial intelligence’s bull and bear scenarios for AVAX
ChatGPT also admits that he sees some potential for a more significant bull run that could push AVAX as high as $65 in the coming days, provided the market more broadly maintains determined bullish momentum. Interestingly, CharGPT’s predictions are relatively consistent with those of another AI, Google Bard. Bard stated two weeks ago that the Avalanche would be priced no higher than $63.38 on January 1, 2024. ChatGPT also warns that AVAX could drop to $30 before the end of the year due to some headwinds. In this regard, it presents the following scenarios:
Bullish Scenario: If the positive trends observed in late 2023 continue, a bullish scenario could emerge, especially if institutional interest remains strong and the broader crypto market maintains its upward momentum. Estimated Upside Range: In case of upside, AVAX could potentially reach the $55 to $65 range. This takes into account the possibility of continued institutional adoption and market-wide bullish sentiment.
Bearish Scenario: A bearish scenario may occur due to unforeseen adverse market events, regulatory challenges, or a significant downturn in the broader cryptocurrency market. Forecast Bearish Range: In the event of a decline, AVAX could fall to the $30 to $40 range. This takes into account potential market corrections, regulatory uncertainties and unforeseen adverse effects on investor sentiment.
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