In a detailed X thread, the popular crypto analyst known as “Tommy Does Crypto” has made a bold prediction about the potential upside for two leading AI cryptocurrency projects – Bittensor (TAO) and Qubic. According to Tommy, these projects could see staggering gains of 22x and 56x, respectively, during the current bull run in the crypto markets.
To understand Tommy’s predictions, it’s important to first grasp the concept of market capitalization (market cap). This term refers to the total value of a cryptocurrency’s circulating supply, calculated by multiplying the current price by the number of tokens in circulation.
In his analysis, Tommy bases his forecasts on the assumption that the total crypto market cap will reach $6.5 trillion at the peak of the current bull run. He then predicts that the AI narrative, currently accounting for around 0.6% of the total market cap, could realistically capture 5% of the overall market during this bull run, equating to a total AI crypto market cap of $325 billion.
Bittensor (TAO), currently the largest AI crypto project by market cap, is expected to maintain a 20% share of the total AI market cap during the peak, according to Tommy. This would translate to a market cap of $65 billion for TAO, representing a 22x increase from its current valuation.
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Show more +Qubic, currently the ninth-largest AI crypto project, is projected to climb to the fifth position in terms of market cap, assuming a conservative 7% share of the total AI market cap. Under this scenario, Qubic’s market cap would reach $22.7 billion, a staggering 56x increase from its current valuation.
It’s worth noting that Tommy’s predictions are based on specific assumptions and market conditions, and actual results may vary. Additionally, he plans to provide more detailed price predictions for these projects in a future analysis, taking into account factors such as token emission schedules and burn mechanisms.
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