It seems that the crypto market continues to see massive price explosions these days. Check out some AI altcoins and what happened to their prices following rumors that Microsoft could invest in OpenAI.
Microsoft rumors trigger massive price explosion
Artificial intelligence (AI) altcoins are taking off this week the latest data. It seems that this is happening as reports surface, indicating that Microsoft plans to make a gigantic investment in the AI space.
The news website Semafor, citing sources familiar with the matter, reports that Microsoft has been in talks to invest $10 billion in artificial intelligence research company OpenAI.
OpenAI created ChatGPT, an AI chatbot that went viral in November and December of 2022.
“SingularityNET (AGIX) has been one of the single biggest benefactors of that news in the crypto space. The project’s native token is trading at around $0.11 at time of writing, up more than 136% from its price one week ago,” according to the notes published by the online publication the Daily Hodl.
It’s also worth noting the fact that SingularityNET is a blockchain-based marketplace for artificial intelligence services ranging from individual AI algorithms to standalone AI applications.
Fetch.ai (FET) is also reaching unexpected heights as well, according to the same reports.
Other than this, the crypto market is doing great in general with prices booming since the beginning of this week.
Bitcoin price prediciton
Regarding Bitcoin (BTC), it’s been revealed that the pseudonymous crypto trader Rekt Capital has recently told his followers that the king crypto’s dominance levels are set to make a move to the upside, adding that as BTC gets stronger, altcoins get weaker.
“BTC Dominance is successfully retesting the blue level as support.
So far, BTC Dominance is positioning itself well for upside.
As Bitcoin becomes more dominant in the market, altcoins become less so and lose their valuations”
According to the strategist, BTC’s Relative Strength Index (RSI), which measures an asset’s momentum, is on the cusp of flipping bullish.