AVAX Price Analysis: Google Bard Offers Insight into Avalanche’s Potential in 2024
The current crypto market rally has propelled many cryptocurrencies to levels not seen in over a year. Bitcoin (BTC) and Ethereum (ETH) have experienced significant surges, and altcoins like Solana (SOL) and Bonk (BONK) have also seen impressive gains. Another cryptocurrency that has caught the attention of investors is Avalanche (AVAX), which has been performing strongly since November.
Avalanche’s rise can be attributed to positive developments and partnerships, including collaborations with AWS and BLRD. As a result, AVAX has increased by 276.88% since the start of 2023. To gain insight into its future growth potential, Finbold turned to Google’s artificial intelligence platform, Bard.
Google Bard’s Prediction for AVAX in 2024
Google Bard analyzed Avalanche and provided a bullish outlook based on positive news surrounding the cryptocurrency and its overall performance during the ongoing bull run. Despite factors like market volatility and competition, Bard believes AVAX will continue to rise in the New Year.
According to Bard, AVAX is projected to be valued between $55.51 and $63.38 on January 1, 2024. However, the AI acknowledged the possibility of both an extended bull run and a major crash. In an optimistic scenario, AVAX could reach as high as $73.93, while a bearish scenario might see it fall to $44.32.
Notably, Bard’s bearish prediction still suggests that AVAX will continue its upward trend for some time since it exceeds the cryptocurrency’s current value.
A Look at AVAX’s Recent Performance
In recent weeks, AVAX has demonstrated impressive growth, with an 82.33% increase over the past week. At the time of publication, it is priced at $40.42, showing a 13.86% gain in the last 24 hours. However, AVAX has faced resistance at $42 in the past 12 hours.
While AVAX’s surge began in early November, most of its significant rise has occurred more recently. Throughout 2023, AVAX remained relatively stagnant between $9 and $16, with bullish sentiment in the spring and bearish sentiment in the autumn.
Hot Take: Avalanche Poised for Continued Growth
Avalanche’s recent performance and positive developments have positioned it for potential growth in 2024. Google Bard’s analysis suggests that AVAX could reach new highs or experience setbacks depending on market conditions.
Investors should monitor AVAX closely as it navigates through the volatile crypto market and competes with other major smart contracts. With its current upward momentum and partnerships, Avalanche shows promise for continued success.
Fin Boldom has emerged as a notable crypto analyst, accomplished researcher, and adept editor, leaving a distinct mark in the field of cryptocurrency. As a skilled crypto analyst and researcher, Fin’s insights delve deep into the complexities of digital assets, resonating with a diverse audience. His analytical acumen is seamlessly complemented by his editorial finesse, enabling him to distill intricate crypto information into easily comprehensible content