- Bullish TAO price prediction for 2023 is $309.68 to $418.04.
- Bittensor (TAO) price might reach $500 soon.
- Bearish TAO price prediction for 2023 is $156.91.
In this Bittensor (TAO) price prediction 2023, 2024-2030, we will analyze the price patterns of TAO by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS |
INTRODUCTION |
|
BITTENSOR (TAO) PRICE PREDICTION 2023 |
|
| BITTENSOR (TAO) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Bittensor (TAO) Current Market Status
| Current Price | $255.07 | 24 – Hour Price Change | 1.34% Up |
| 24 – Hour Trading Volume | $22.47M |
| Market Cap | $1.07B |
| Circulating Supply | 4.12M TAO | All – Time High | $313.05 (On Nov 20, 2023 ) |
| All – Time Low | $30.40 (On May 14, 2023 ) |
What is Bittensor (TAO)
| TICKER | TAO |
| BLOCKCHAIN | Polkadot |
| CATEGORY | Decentralized Artificial Intelligence |
| LAUNCHED ON | 19 September 2023 |
| UTILITIES | Governance, security, gas fees & rewards |
Bittensor (TAO) is a decentralized artificial intelligence (AI) platform that focuses on building a global, collaborative network of machine learning models. Bittensor aims to create a decentralized intelligence protocol where developers can contribute and monetize their AI models. The project leverages blockchain technology, particularly within the Polkadot ecosystem, to enable secure and transparent transactions between participants in the network.
Bittensor emphasizes the principles of fairness, collaboration, and open access to AI capabilities. Participants can stake TAO tokens to access the network or earn rewards by contributing their machine learning models. The platform strives to democratize AI and create a more inclusive and decentralized AI ecosystem. For the latest and more detailed information, it’s recommended to check the project’s official channels and documentation.
Bittensor 24H Technicals
(Source: TradingView)
Bittensor (TAO) Price Prediction 2023
Bittensor (TAO) ranks 2172nd on CoinMarketCap in terms of its market capitalization. The overview of the Bittensor price prediction for 2023 is explained below with a daily time frame.
TAO/USDT Rising Wedge Pattern (Source: TradingView)
In the above chart, Bittensor (TAO) laid out a rising wedge pattern. A rising wedge pattern suggests a reversal pattern frequently seen in bear markets. The rising pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point.
This pattern is made by drawing two trendlines, one trendline draws across two or more pivot highs, and the other one connects two or more pivot lows
At the time of analysis, the price of Bittensor (TAO) was recorded at $255.07. If the pattern trend continues, then the price of TAO might reach the resistance level of $268.37, and $305.13. If the trend reverses, then the price of TAO may fall to the support of $215.09..
Bittensor (TAO) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Bittensor (TAO) in 2023.
TAO/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as the resistance and support levels of Bittensor (TAO) for 2023.
| Resistance Level 1 | $309.68 |
| Resistance Level 2 | $418.04 |
| Support Level 1 | $216.70 |
| Support Level 2 | $156.91 |
TAO Resistance & Support Levels
Bittensor (TAO) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bittensor (TAO) are shown in the chart below.
TAO/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Bittensor (TAO) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $190.04Price = $269.07 (50MA < Price) | Bullish(Uptrend) |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 64.01 <30 = Oversold 50-70 = Neutral>70 = Overbought | Neutral |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak Volume |
Bittensor (TAO) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Bittensor (TAO) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
TAO/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Bittensor (TAO).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 48.65 | Strong Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 53.99 <50 = Low >50 = High | High Volatility |
Comparison of TAO with BTC, ETH
Let us now compare the price movements of Bittensor (TAO) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs TAO Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of TAO is dissimilar to that of BTC and ETH. That is, when the price of BTC and ETH increases, the price of TAO decreases, if the price of BTC and ETH decreases, the price of TAO increases.
Bittensor (TAO) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Bittensor (TAO) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
| Year | Bullish Price | Bearish Price |
| Bittensor (TAO) Price Prediction 2024 | $515 | $150 |
| Bittensor (TAO) Price Prediction 2025 | $525 | $145 |
| Bittensor (TAO) Price Prediction 2026 | $535 | $140 |
| Bittensor (TAO) Price Prediction 2027 | $545 | $135 |
| Bittensor (TAO) Price Prediction 2028 | $555 | $130 |
| Bittensor (TAO) Price Prediction 2029 | $565 | $125 |
| Bittensor (TAO) Price Prediction 2030 | $575 | $120 |
Conclusion
If Bittensor (TAO) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Bittensor (TAO) price prediction for 2023 is 418.04. Comparatively, the bearish Bittensor (TAO) price prediction for 2023 is $156.91.
If there is a positive elevation in the market momentum and investors’ sentiment, then Bittensor (TAO) might hit $500. Furthermore, with future upgrades and advancements in the Bittensor ecosystem, TAO might surpass its current all-time high (ATH) of $313.05 and mark its new ATH.
FAQ
1. What is Bittensor (TAO)?
Bittensor (TAO) is a decentralized artificial intelligence (AI) platform that focuses on building a global, collaborative network of machine learning models.
2. Where can you buy Bittensor (TAO)?
Bittensor (TAO) has been listed on many crypto exchanges which include Uniswap,Binance, Kraken, or Huobi.
3. Will Bittensor (TAO) record a new ATH soon?
With the ongoing developments and upgrades within the Bittensor platform, Bittensor (TAO) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Bittensor (TAO)?
Bittensor (TAO) hit its current all-time high (ATH) of $313.05 on November 20, 2023.
5. What is the lowest price of Bittensor (TAO)?
According to CoinMarketCap, TAO hit its all-time low (ATL) of $30.40 on May 14, 2023.
6. Will Bittensor (TAO) hit $500?
If Bittensor (TAO) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $500 soon.
7. What will be the Bittensor (TAO) price by 2024?
Bittensor (TAO) price might reach $515 by 2024.
8. What will be the Bittensor (TAO) price by 2025?
Bittensor (TAO) price might reach $525 by 2025.
9. What will be the Bittensor (TAO) price by 2026?
Bittensor (TAO) price might reach 535 by 2026.
10. What will be the Bittensor (TAO) price by 2027?
Bittensor (TAO) price might reach $545 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
