Cryptocurrency

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FTX Token

Artificial Intelligence

Shiba Inu

<div class="finbold">
 <p class="paragraph">The FTX token (FTT) surged by 250% in one week after renewed interest from investors to acquire the bankrupt cryptocurrency exchange after Sam Bankman-Fried’s conviction.</p>
 <div></div>
 <p class="paragraph">Finbold turned to three Artificial Intelligence (AI) tools on November 11 to gather technical and fundamental analysis on the FTT price moving forward. All three consulted tools suggest caution and either a neutral or bearish bias. Essentially, it is a consensus that the FTX token is not a “buy” at this moment.</p>
 <p class="paragraph">Moreover, the Relative Strength Index (RSI) indicates FTT at an overbought state in multiple time frames. The market dynamics appear to be driven more by speculation in what could be a “buy the rumor, sell the news” event.</p>
 <p class="paragraph">It is also important to say that <em>CoinMarketCap</em> has disclosed a warning about the asset on its page:</p>
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  <p class="paragraph">“The FTX bankruptcy proceedings are underway. The FTT token no longer has any use, and may be liquidated by the estate to pay creditors. Please proceed with caution.”</p>
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 <figure class="wp-block-image size-large is-resized"><img decoding="async" loading="lazy" src="https://cdn.thebittimes.com/images/2023/11/11/f22e8ea72db5444de9cb222bd52aad22.webp" alt class="wp-image-136914" width="834" height="113" srcset="https://cdn.thebittimes.com/images/2023/11/11/f22e8ea72db5444de9cb222bd52aad22.webp 1024w, https://cdn.thebittimes.com/images/2023/11/11/f22e8ea72db5444de9cb222bd52aad22.webp 300w, https://cdn.thebittimes.com/images/2023/11/11/f22e8ea72db5444de9cb222bd52aad22.webp 768w, https://cdn.thebittimes.com/images/2023/11/11/f22e8ea72db5444de9cb222bd52aad22.webp 1264w" sizes="(max-width: 834px) 100vw, 834px">
  <figcaption class="wp-element-caption">
   Warning on the FTX token (FTT) page. Source: <em>CoinMarketCap</em>
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 </figure>
 <h2 class="wp-block-heading" id="h-ai-predicts-ftt-price-with-technical-analysis">AI predicts FTT price with technical analysis</h2>
 <p class="paragraph">From a technical analysis perspective, <em>CoinCodex</em> machine learning algorithms predict FTT to be traded at $4.37 in the following 30 days. This would mean a neutral increase of 0.14% on the current price of $4.10 per token.</p>
 <p class="paragraph">Notably, both the 50-day and 200-day moving averages are <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>d at $1.23 and $1.20, while the 14-day RSI marks 95 points for an extremely overbought status. Despite a 70-point for greed on the Fear &amp; Greed Index, the AI is also considering a neutral sentiment for the FTX <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="591" src="https://cdn.thebittimes.com/images/2023/11/11/cc6963cd8f61ebd8f7a3f67f4c3edd8a.webp" alt class="wp-image-136915" srcset="https://cdn.thebittimes.com/images/2023/11/11/cc6963cd8f61ebd8f7a3f67f4c3edd8a.webp 1024w, https://cdn.thebittimes.com/images/2023/11/11/cc6963cd8f61ebd8f7a3f67f4c3edd8a.webp 300w, https://cdn.thebittimes.com/images/2023/11/11/cc6963cd8f61ebd8f7a3f67f4c3edd8a.webp 768w, https://cdn.thebittimes.com/images/2023/11/11/cc6963cd8f61ebd8f7a3f67f4c3edd8a.webp 1536w, https://cdn.thebittimes.com/images/2023/11/11/cc6963cd8f61ebd8f7a3f67f4c3edd8a.webp 1682w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   FTT AI price prediction. Source: <em>CoinCodex</em>
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 </figure>
 <h2 class="wp-block-heading" id="fundamental-analysis-of-the-ftx-token">Fundamental analysis of the FTX token</h2>
 <p class="paragraph">As for a fundamental and event-driven perspective, Finbold fed both the ChatGPT-4 and the Google Bard AIs with recent news and data regarding the FTX Token.</p>
 <h3 class="wp-block-heading" id="chatgpt-4-analyzes-ftt">ChatGPT-4 analyzes FTT</h3>
 <p class="paragraph">In particular, ChatGPT-4 made an objective analysis of the whole situation without clear price targets. The AI recommended caution and said: “Investors should be wary of the high volatility and risks associated with investing in assets that are subject to complex legal proceedings and potential regulatory issues.”</p>
 <p class="paragraph">Additionally, it mentioned security concerns regarding FTT being deployed by a smart contract, in which private keys could be known by Bankman-Fried, now convicted of fraud. ChatGPT also talked about the <em>CoinMarketCap</em>’s warning:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“The warning regarding the FTT token mentions that it no longer serves any functional purpose in the context of FTX’s operations and may be liquidated to pay creditors, as per the ongoing bankruptcy proceedings. This indicates a lack of intrinsic value or utility, which could impact the token’s long-term viability.”</p> <cite>— ChatGPT-4</cite>
 </blockquote>
 <h3 class="wp-block-heading" id="google-bard-on-the-ftx-token">Google Bard on the FTX Token</h3>
 <p class="paragraph">On the other hand, Google Bard offered short and medium-term brief analyses regarding the FTX token:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“<strong>Short-term:</strong> FTT <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> is likely to remain elevated in the near term, as investors continue to speculate on the possibility of a bailout or acquisition of FTX. However, the overbought RSI on the 4-hour and 1-day time frames suggests that a pullback may be imminent.</p>
  <p class="paragraph"><strong>Medium-term:</strong> The medium-term outlook for FTT is uncertain. If the FTX bankruptcy proceedings drag on, and if it is confirmed that the FTT <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> has no further use, the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> could plummet. However, if FTX is able to secure a bailout or acquisition, and if the FTT <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> is retained, the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> could rebound.”</p> <cite>— Google Bard</cite>
 </blockquote>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="218" src="https://cdn.thebittimes.com/images/2023/11/11/3fffd4df9b08b35e61e76050cc25bf94.webp" alt class="wp-image-136916" srcset="https://cdn.thebittimes.com/images/2023/11/11/3fffd4df9b08b35e61e76050cc25bf94.webp 1024w, https://cdn.thebittimes.com/images/2023/11/11/3fffd4df9b08b35e61e76050cc25bf94.webp 300w, https://cdn.thebittimes.com/images/2023/11/11/3fffd4df9b08b35e61e76050cc25bf94.webp 768w, https://cdn.thebittimes.com/images/2023/11/11/3fffd4df9b08b35e61e76050cc25bf94.webp 1332w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Google Bard on FTX token (FTT). Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">All things considered, Google Bard explicitly says it “would not recommend buying FTT at this time.” Nevertheless, investors must do their own research and decide for themselves whether they want to speculate on the rumors related to the future of FTX.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ai-predicts-ftx-token-price-after-stellar-and-unexpected-ftt-surge-tbt69942.html">https://thebittimes.com/ai-predicts-ftx-token-price-after-stellar-and-unexpected-ftt-surge-tbt69942.html</a></p>

AI predicts FTX token price after stellar and unexpected FTT surge

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