Why I think AI coins are the biggest attraction of altcoins in this bull market:
1. External confidence
As we all know, the US stock market > the crypto market, huge amounts of money favor Nvidia without a rate cut. Whether it is a false proposition or not, I think the market has already given the answer. (In my investment philosophy: current reality > fantasy future, everyone > individual)
2. Market reaction
From the end of 2023 to the beginning of 2024, Bitcoin has successfully risen by 400% because of ETFs through Bitcoin, but many altcoins not only cannot keep up with the increase of Bitcoin, but also fall below the low point of 2023 when they are corrected. The AI sector is one of the few sectors that can keep up with its increase.
(Buying altcoins is afraid that it will not rise as fast as Bitcoin, and they slap their thighs crazily, because this money should have bought Bitcoin to eat the original increase, which makes them more disappointed, angry, and cursed)
3. Psychologically and in journalism
The relationship between fresh acceptance and market value, the easier it is to accept things in the currency circle, the easier it is to have a greater increase, with meme in front and defi in the back.
First of all, let's think from another perspective. I am a person who bought Nvidia in the US stock market. I made a lot of money on Nvidia stocks and promoted it to my relatives and friends. AI is the last train for us to get on the new world of wealth and freedom. New things like this are more likely to expose people to Bitcoin-related industries. On this basis, Bitcoin ETF and the recent ETH ETF can achieve a provincial publicity and drainage effect for US stock users.
But in a smaller plate (crypto market), a copycat (AI sector token) is found. There is no doubt that the public is more likely to accept it, and the threshold of this acceptance is even much lower than that of gamefi in the last bull market.
Summary: As a new technological productivity, AI has not only played an important role in improving production efficiency, promoting innovation and economic growth, but also has shown great potential in solving complex problems, promoting social progress and sustainable development.
The development and application of AI technology is gradually changing our way of working and living, making it an indispensable core element in modern technological narratives. AI+web3 is the king of kings in terms of popularity, funds and all aspects, ready to explode at any time.
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