BIG FET Price Prediction: Is Fetch.ai Price Targeting $5 Before Bitcoin Halving? Here’s why:
Over the past few days, Fetch.AI (FET) has been making a mark in the cryptocurrency world, showing impressive growth and establishing itself as one of the top performers. On the last day alone, it achieved an important milestone by recording a whopping 42.31% increase and exceeding $2 for the first time. This surge has everyone wondering: Can FET reach $5 before Bitcoin halving? Let’s find out more about this. FET price prediction Create a piece and take a closer look.
FET Price Prediction: How has Fetch.ai price moved recently?
As of today, the price of Fetch.ai is $2.76 with a trading volume of $2.77 billion over the last 24 hours. The market capitalization is $1.9 billion and the market dominance is 0.08%. In particular, Fetch.ai saw its price surge by 39.58% over the past day.
The highest recorded price for Fetch was $2.78 on March 7, 2024, an all-time high. Conversely, the lowest price was on March 13, 2020, when it traded at an all-time low of $0.007972. After the all-time high, the price of Fetch.ai fell to a cycle low of $2.56, and the highest since the last cycle low was $2.74. Currently, the sentiment surrounding Fetch.ai’s price prediction is leaning towards bullish, with the Fear and Greed Index reading at 82, implying extreme greed among investors.
Out of a peak supply of 1.15 billion FET, Fetch.ai’s circulating supply currently stands at 688.12 million FET.
Why is Fetch price rising and why could the price explode further?
The surge in FET prices is all thanks to the big announcement from the Fetch.AI Foundation, which aroused investor interest. They launched “Fetch Compute” on March 5, 2024, as part of a massive $100 million investment to strengthen the development of the AI economy. It’s definitely gaining traction in the market.
Fetch Compute’s plans to launch top-end Nvidia GPUs such as the H200, H100 and A100 models aim to accelerate innovation within the Fetch.AI ecosystem. Funded through the Fetch Ecosystem Fund, this smart move is to provide developers and users with the computing power they need to create advanced models and solutions. By addressing the ongoing GPU shortage head on, Fetch is not only raising the bar, but setting a new standard for developers around the world.
FET Price Prediction: Is Fetch Price Targeting $5 Before Bitcoin Halving?
The recent announcement of “Fetch Compute” by the Fetch.AI Foundation and its $100 million investment in AI infrastructure has sent the price of Fetch skyrocketing, sparking speculation as to whether FET could cross the $5 mark before the Bitcoin halving. . This surge is significant not only for Fetch investors, but also for the broader cryptocurrency market. There is a notable connection in that GPUs play a pivotal role in both AI computing and Bitcoin mining.
The introduction of Fetch Compute could potentially increase demand for GPUs by enhancing AI development, and could indirectly impact Bitcoin mining as GPUs are also used for mining operations. Moreover, as we approach the Bitcoin halving event, when mining rewards are halved, the dynamics of the cryptocurrency market become more pronounced.
GPUs are commonly used for AI computing tasks due to their parallel processing capabilities. Fetch.AI’s “Fetch Compute” initiative aims to advance AI development, which could increase demand for GPUs. More companies and developers working on AI projects powered by Fetch may need GPUs to support their work.
Another great announcement has been made! Starting March 7, 2024, you can earn Fetch Compute credits by staking Fetch, Fetch’s own coin. These credits are very convenient because they can be used to leverage the computing power of the Fetch Compute network. This is a win-win for FET holders, as they not only receive rewards, but also help build a strong development community around Fetch.AI.
If Fetch continues its upward trend and reaches $5, it could have significant upside, especially in anticipation of the Bitcoin halving. However, market conditions remain unpredictable, and factors such as regulatory changes and broader economic trends will also play a role in determining Fetch’s trajectory leading up to the Bitcoin halving.
Where can I buy FETs?
For individuals looking to enter the cryptocurrency market, Bitget emerges as a trustworthy platform. With low fees, a user-friendly interface, and a simple onboarding process, Bitget offers a convenient experience for both beginners and seasoned traders. Whether you are an experienced investor or a newcomer, Bitget offers an efficient way to buy and trade cryptocurrencies in a dynamic and rapidly evolving market.
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