finbold.com
Bitcoin (BTC) has touched its all-time high at $69,000, while the crypto market reached a $2.52 trillion capitalization. Finbold turned to Grok’s artificial intelligence (AI) for insights on altcoins to navigate the current bull market.
Historically, Bitcoin ignites positive rallies, followed by other cryptocurrencies in what traders call an “Altseason.” This cycle has repeated since 2017 on multiple occasions, and it might be about to start if the pattern remains.
In this context, Grok AI plays a valuable role in gathering and consolidating market information for unique insights. Moreover, the tool can access investors’ sentiments on X in real-time, leveraging its use in the financial market.
For example, Grok has shown its capacity since its launch, naming an ideal cryptocurrency for payments in the platform.
Grok AI picks Ethereum (ETH)
First, Grok AI picked Ethereum (ETH) when asked for an altcoin selection to navigate this bull market. The native token, ETH, now trades above $3,700, showing strong price resilience during Bitcoin’s retracement, as forecasted by Finbold.
“Ethereum is the largest altcoin by market cap and has a strong value proposition as the leading smart contract platform in the industry. With the successful transition to the Proof-of-Stake (PoS) consensus mechanism in 2022, Ethereum has become much more energy-efficient and is poised to scale with the upcoming sharding upgrade. Ethereum’s dominance in the decentralized finance (DeFi) space and its strong developer community make it a top choice for investors looking to capitalize on the bull market.”
Chainlink (LINK) is a mid-cap altcoin to navigate the bull market
Second, Grok named Chainlink (LINK), trading slightly above $20 with its unique value proposition as an Oracle blockchain.
“Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data, APIs, and payment systems. As the DeFi and decentralized application (dApp) ecosystems continue to grow, the need for reliable and secure off-chain data will only increase. Chainlink’s strong partnerships and adoption across the industry make it a valuable altcoin with significant growth potential in the 2024 bull market.”
Filecoin (FIL)
Finally, Grok has chosen Filecoin (FIL) as its low-cap bet to navigate the bull market and the altcoin season. FIL is trading just below $10 as of writing.
“Filecoin is a decentralized storage network that allows users to buy and sell unused storage on an open market. With the increasing demand for decentralized storage solutions and the growth of Web3 applications, Filecoin has a strong value proposition for investors. The project has a strong development team and has already garnered significant interest from the crypto community. As a smaller market cap altcoin, Filecoin has the potential for substantial growth during the 2024 bull market.”
Nevertheless, AI models like Grok are not perfect and can make mistakes or hallucinate with unreal information. Investors must take its advice cautiously and use these insights only as a small part of their due diligence. Investing in cryptocurrencies is risky and uncertain, open to huge volatility and fundamental changes.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.