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The AI Industry: A Slowdown Amidst the Hype
Recently, the AI industry has been the talk of the town. However, crypto assets connected to this technology have experienced a slowdown, coinciding with the current bear market.
Potential Factors for a Resurgence
A new report by Bitget, shared with Crypto News Desk, suggests that there may be a resurgence in AI tokens. However, for these tokens to increase in value, there needs to be clear and substantial progress in AI technology. This could include breakthroughs, advancements, or developments that catch the attention of the market. Additionally, major companies in the AI space introducing new products or making significant improvements to their existing products can also influence the price trajectory of these tokens.
An example is the decentralized machine learning platform Fetch.ai and the data sharing platform Ocean, which have gained traction since mid-August. Both platforms launched a decentralized data exchange system designed to provide data recommendations while prioritizing users’ privacy.
The Role of Media News
According to Bitget’s analysis, media news plays a pivotal role in the AI token market. These tokens are likely to rise when positive news and media coverage related to AI and AI-related events are prevalent. Positive media attention can attract retail investors, subsequently driving up token prices. Moreover, retail investors may rush into the market under the influence of “FOMO” sentiment when they see others profiting from rising AI token prices, further pushing the price higher.
“At the moment when multiple AI-related events are coming, the AI sector may reproduce the pomp of Q1. Ambush at a low point may be a good choice.”
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