Fetch.ai Price Soars Amid Major Investment: Can FET Surge ’20X’ from Current Levels? Here’s Why This Analyst Thinks So
Several crypto analysts have been voicing bullish sentiments regarding Fetch.ai’s long-term prospects lately. Crypto Rover, a top analyst, believes $FET still has considerable room for growth ahead.
In a tweet, Rover stated they purchased $FET at $0.70 and have no intention to sell in the near future. Additionally, Rover stated: “It is now at $2b market cap. I think it will top out around $40b-$60b. 20x from here seems reasonable.”
By predicting Fetch.ai’s eventual market capitalization reaching between $40-60 billion, Rover believes $FET still has significant upside potential of over 20x from its current valuation. This bullish forecast implies the analyst expects strong demand and network growth to drive Fetch.ai towards a multi-billion dollar protocol over the coming years.
Meanwhile, X user WAGMONSTR also exhibited optimism on multiple occasions. After the broader crypto market saw intra-month declines, $FET bounced sharply higher by 64% to set a new all-time price high. WAGMONSTR attributed this move to positive underlying fundamentals, including Fetch.ai securing a $100 million infrastructure investment.
Decentralized Computing Network and Future Prospects
Additionally, per WAGMONSTR, the launch of its decentralized computing network powered by Nvidia GPUs should significantly enhance the project’s capabilities. Despite the parabolic price rise, WAGMONSTR asserted most analysts would underestimate Fetch.ai’s potential, forecasting token values reaching $5-10 in the future.
In a particularly prescient tweet, WAGMONSTR stated Fetch.ai was set for tremendous success through 2024. The analyst predicted $FET would be the top performing crypto asset amongst the top 100 market cap listings that year. This bold call implies robust protocol usage growth and development progress are on the horizon.
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Show more +Besides, the latest price data validates the bull case, as Fetch.ai saw over 11% gains according to CoinMarketCap in the last 24 hours to trade hands at $1.97 presently.
Considering the technical milestones already achieved and large capital inflows, it appears Fetch.ai may have several strong quarters ahead as forecast by crypto analysts.
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