Bittensor (Tao) - Number 1 AI pick

[JamesDaniel90]

Looking at the AI category on Coinmarketcap Bittensor (TAO) is currently number 1 with a $1.6B market cap.

I have heard many say this can be the number 1 for many years and potentially hit $50b market cap by 2029.

I don't know too much about it, but thinking if we are in a bear market now for many months then I will start buying if it falls down to $1b market cap to then hopefully see pretty good returns next few years.

Anyone invested? Do we think it can hit $50b next few years or is it overhyped?

[bangjoe]

You should analyze from the fundamentals first not in terms of current capitalization because it could be due to hype, we must look at what they offer to their community and to users of their services if you have a reason why TAO will get a large market capitalization in 2029 then you don't need to ask anymore “should I buy?”, with the development of AI and the increasing adoption of AI we must have complete data about the long-term projects and how the AI industry will increase in the future. ", with the development of AI and the increasing adoption of AI we must have complete data about the long-term project and how the AI industry will increase in the future, if you find that the project you have is unlikely to survive in the long run because the model is easy to imitate or is already common, why should you buy market goods right?

[JamesDaniel90]

This flew up 40% in just a few days after i posted, I should have just bought some but i felt at the time we were going lower.

Its a hard one to call, some are saying we only have another month or so of this down and sideways action left before we bounce and start going up again but those who believe in the 4 year cycle still are saying we will have another 6-8 months before we find a bottom.

It is now a $2b market cap again, i will not buy at this level and just hope it falls next few weeks so i can get a better entry.

[passwordnow]

Looking at the AI category on Coinmarketcap Bittensor (TAO) is currently number 1 with a $1.6B market cap.

I have heard many say this can be the number 1 for many years and potentially hit $50b market cap by 2029.

I don't know too much about it, but thinking if we are in a bear market now for many months then I will start buying if it falls down to $1b market cap to then hopefully see pretty good returns next few years.

Anyone invested? Do we think it can hit $50b next few years or is it overhyped?

As you've said, you don't know much about it and what you've heard were just speculation of what's coming in it. I have a thought about AI coins that they're probably overhyped now. While the technology of AI looks good but it's overwhelmed and overcrowded in terms of projects that have tokens in AI. From the $700 top that it has got for two times it reached that on 2024, while last year the top was almost $500. The $50B market cap is overhyped IMO.

[asriloni]

This flew up 40% in just a few days after i posted, I should have just bought some but i felt at the time we were going lower.

Its a hard one to call, some are saying we only have another month or so of this down and sideways action left before we bounce and start going up again but those who believe in the 4 year cycle still are saying we will have another 6-8 months before we find a bottom.

It is now a $2b market cap again, i will not buy at this level and just hope it falls next few weeks so i can get a better entry.

Bittensor is -25% from the peak price after its 40% last days. So just be patience waiting for it goes even lower. It may be going back to the 162 - 165 range to touch the demand supply. It's good to see you hodl yourself instead of buying when it was pumping.

However, you can always watch its chart. If there will be a parabolic chart to be formed. It's likely it will be pumping much higher. Yet, always be careful caused by market is not that good.

It can also get affected by BTC dump that may happen anytime. Entering at lower price guarantee us to suffer lesser impermanent loss if it goes down even further. So patience is key.

[shinratensei_]

50B in 2029 is ridiculously optimistic valuation are you sure? do you know Bittensor is not zero emmision coin and annual inflation is ~25.6% according to jellyc data?.

HYPE with :
1. good market adoption
2. buy back
3. good revenue
4. huge utility

is nowhere near that only valued at $7B right now unfortunately, let alone a decentralized AI infrastructure that nobody really uses.