This AI Crypto Coin Skyrocketed 17% After Kamala Harris Backed AI And Crypto Investments: Here's The Level When It Could Go 'Parabolic'

Bittensor’s (CRYPTO: TAO) single-day rally after Vice President Kamala Harris‘ comments led traders to predict a bullish run for the artificial intelligence crypto coin.

What Happened: With a 17% single-day rally adding to the 82% seven-day rally, Bittensor has attracted several bullish traders’ forecasts for the upcoming months. Satoshi Flipper predicts it to go “parabolic” once it flips the $640 level.

Crypto trader Sisyphus joked that Bittensor has a higher potential than Tesla, Nvidia, and OpenAI combined, while Daan Crypto Trader noted Bittensor’s “beautiful breakout” off the back of a “very strong move.”

$TAO With a beautiful breakout. This was one of the cleanest charts out there and followed the idea nicely.

Some consolidation would make sense to me but this has definitely changed its high timeframe trend around here. Very strong move. https://t.co/6ExrcTIiAp pic.twitter.com/NPBMgs1yDa

— Daan Crypto Trades (@DaanCrypto) September 23, 2024

DeFi Threador and Researcher ElonMoney listed out the reasons for Bittensor’s growth and why it could peak to a $10 billion valuation from the current $4 billion.

Decentralized AI training, the introduction of Dynamic TAO (dTAO), and upcoming smart contracts are listed as bullish factors, as well as Bittensor’s subnets are catching attention for their innovative approaches and skilled development teams.

Also Read: AI Crypto Tokens Crack Despite Nvidia’s Q2 Earnings Beat—But YTD Performance Aligns With Tech Stock’s Blockbuster Run

Why It Matters: In the past 24 hours, Artificial Intelligence (AI) tokens’ market capitalization is up 6.4% to $29 billion after Democratic nominee Kamala Harris expressed her support for investments in artificial intelligence and crypto.

At a recent fundraising event, she stated that she would encourage these innovative technologies alongside consumer and investor protection.

Bittensor and other AI crypto coins like Near Protocol (CRYPTO: NEAR) and Artificial Superintelligence Alliance (CRYPTO: FET) rallied in the aftermath.

Bittensor has been listed by Bitvavo exchange and has revealed upcoming upgrades, including receiving EVM compatibility and implementing Ethereum smart contracts, at the Token2049 digital asset conference in Singapore.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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