The cryptocurrency market has grown substantially over the past few years, with around 23,000 digital assets available. This expansion has made it increasingly challenging to identify the next crypto with explosive value. To address this, traders have turned to artificial intelligence (AI) models like Bard, Google’s generative AI chatbot, which has shown promise in AI-predicted cryptos.
The AI model used in this prediction relies on machine learning algorithms trained on historical price data for cryptocurrencies. It takes into account various factors, including the prices of other cryptocurrencies, overall market sentiment and the news cycle, to forecast future prices.
It’s important to understand that AI models are not perfect. The predictions offered here are just potential outcomes. The actual prices of cryptocurrencies in July 2023 may be higher or lower.
When asked about AI-recommended cryptos, Google’s AI chatbot Bard provided 10 with high potential in July:
● Bitcoin (BTC-USD)
● Ethereum (ETH-USD)
● Cardano (ADA-USD)
● Polygon (MATIC-USD)
● Ripple (XRP-USD)
● Solana (SOL-USD)
● Avalanche (AVAX-USD)
● Kusama (KSM-USD)
● Axie Infinity (AXS-USD)
● Shiba Inu (SHIB-USD)
Below are three investors may want to consider.
Bitcoin (BTC-USD)
Bitcoin’s (BTC-USD) recent achievement of reaching the $31,000 milestone in June has sparked a new wave of excitement in the cryptocurrency community. The potential entry of spot bitcoin exchange-traded funds (ETFs) into the market has played a crucial role in driving Bitcoin’s price higher, rekindling investors’ interest in the cryptocurrency.
According to Web3Cafe, market prediction firm PricePredictions provided a positive forecast for Bitcoin in July. Leveraging AI algorithms and analyzing technical indicators like relative strength index (RSI), moving average convergence/divergence (MACD) and Bollinger bands, PricePredictions projects Bitcoin will rise to $33,329 by the end of the month.
This forecast implies an estimated 10% return on investment over the next few weeks, presenting an enticing opportunity for investors interested in Bitcoin in July.
If Bitcoin’s upward trajectory continues as anticipated, bullish sentiment could have a ripple effect, benefiting other digital assets and fostering renewed interest in the broader crypto space.
Solana (SOL-USD)
Solana’s (SOL-USD) price has soared over the past month, rising more than 45%. And there are several reasons to expect this bullish momentum will persist through the month of July.
First, Solana is recognized as a high-performance blockchain that boasts a large and expanding ecosystem. Because it can process 50,000 transactions per second, it is one of the fastest blockchains available. Additionally, Solana offers low transaction fees, making it an affordable option for decentralized applications (dApps) that require high throughput.
Another factor contributing to Solana’s potential growth is its increasing adoption by institutions. A Bank of America analyst even referred to it as a potential “Visa of the digital asset ecosystem” in early 2022. This speaks to Solana’s credibility as a blockchain with the potential for mainstream adoption.
According to Google Bard, “The average price of SOL is expected to be $23.29 in July 2023. The minimum price could be $21.15 and the maximum price could be $25.43.”
A move to $25.43 would represent a gain of 16% from the current level. But remember that these are just predictions. The cryptocurrency market can be highly volatile and subject to various unpredictable factors.
Kusama (KSM-USD)
Another asset in the list of AI-predicted cryptos Google Bard is bullish on is Kusama (KSM-USD). The price of Kusama has been on an upward trend over the past few weeks, rising more than 13% since mid-June.
According to Google Bard, this bullish momentum could continue, with the chatbot estimating the price of Kusama is likely to be between $30 and $50 at the end of the month. This implies upside of between 27% and 112% from the current level.
One factor contributing to Kusama’s potential is its role as the testnet for Polkadot (DOT-USD). This association provides Kusama with significant potential, as it serves as a platform for testing and experimentation. This connection enhances its appeal and prospects for growth.
On the date of publication, Julia Magas did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
