Wednesday, 17 April 2024

Crypto News

AltSignals: Unravelling AI token future as Bitcoin and Nvidia correlation grows

AltSignals: Unravelling AI token future as Bitcoin and Nvidia correlation grows

  • AltSignals has attracted investors with its AI application and earnings opportunities.
  • A strong correlation between Bitcoin and NVIDIA has highlighted the influence of AI on crypto.
  • $ASI token has 50x and more potential as the future of AI trading unravels.

As Bitcoin (BTC) hit a record above $73,000, analysts have been keen on its relationship with AI stock Nvidia. This is after both assets hit record highs, helped by their respective fundamentals and sector optimism. This happens amid a robust correction that is now the strongest in over a year. Meanwhile, AltSignals, an AI token, has been making strides, riding the rapidly growing crypto and AI sector. Listings at Uniswap and CoinGecko have cemented the token’s future as BTC and Nvidia’s correlation unfolds.

Bitcoin’s correlation with Nvidia grows to the strongest

The correlation between Bitcoin and Nvidia has been of interest as long as the two asset prices move in tandem. Both assets have cooled off slightly after hitting their respective all-time highs. What has been remarkable is that the 90-day and 52-week correlation between the two assets has crossed 0.80.

The strong correlation suggests that Bitcoin and Nvidia move in a similar fashion. Conversely, while Bitcoin price is up more than 60% YTD, Nvidia has gained over 78%. A surging interest in AI has been responsible for the gains in Nvidia stock. 

Nonetheless, the twist of events, BTC and NVDA correlation, has brought about the “AI narrative” in crypto. This has seen many AI-linked cryptocurrencies surge in value, boosting the entire sector’s market cap. Cryptocurrencies that saw significant pumps included WorldCoin (WLD), Render (RNDR) and Fetch. Ai (FET). These gains started after Nvidia issued its Q4 results and guidance, which excited the markets.

As the excitement builds, AltSignals has been keenly watched by investors looking for opportunities in AI. Attention now turns to how AltSignals navigates its core mission in 2024 amid growing optimism.

AltSignals: An AI token revolutionising the trading world

AltSignals has gained popularity owing to being a key pillar in the trading world. Unlike its AI predecessors, this token powers a community of traders.

Launched in 2017, AltSignals has been offering quality trading signals with more than 64% success rates. This has seen the platform amass a huge following,…

Click Here to Read the Full Original Article at CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison…