Bittensor

Gold

<p>Amid the ongoing crypto bullish outlook, triggered by the Gold rally and the <a href="https://coinpedia.org/news/bitcoin-hits-61k-as-fed-slashes-interest-rates-by-50-bps-after-four-years/" target="_blank" rel="noreferrer noopener">recent Fed’s rate cut</a>, Bittensor (TAO), a fast-growing blockchain firm focused on developing decentralized artificial intelligence (AI), has registered palpable gains. In the past two weeks, <a href="https://coinpedia.org/price-prediction/bittensor-tao-price-prediction/" target="_blank" rel="noreferrer noopener">$TAO price rallied over 131 percent</a> to trade about $575 on Monday, during the early European session.&nbsp;</p>   
<p>As a result, the mid-cap altcoin, with a fully diluted valuation of about $12.1 billion and a daily average trade volume of around $366 million, has signaled the onset of a fresh bull run. For the first time since January 2024, TAO’s daily <a href="https://coinpedia.org/traders/what-is-relative-strength-index-rsi/" target="_blank" rel="noreferrer noopener">Relative Strength Index </a>(RSI) rallied above the 70 percent level, indicating the bulls are in control.&nbsp;</p>   
<p>In the weekly time frame, the TAO price has consistently closed above the 50-day <a href="https://coinpedia.org/traders/what-is-moving-average-indicator/" target="_blank" rel="noreferrer noopener">Moving Average </a>(MA), and more upside is expected in the near term.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-midterm-expectations-for-bittensor-tao-price">Midterm Expectations for Bittensor (TAO) Price</h2>   
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<p>From a technical standpoint, the TAO price could experience significant resistance between $560 and $590, which could result in a retrace before the bullish continuation towards a new all-time high. However, if the TAO price follows a similar bullish breakout to Q4 2023, the altcoin is likely to pump continuously in the coming weeks.</p>   
<p>Nonetheless, if <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> retraces below $60k before the end of September, the TAO price could retest the support level of around $357.</p>   
<p>In the long haul, the much-anticipated altseason, triggered by the reversal of the macro Bitcoin dominance, will propel TAO price towards the parabolic phase.</p>   [post_titles_links postid="354120"]   
<h2 class="wp-block-heading" id="h-growing-ecosystem-nbsp">Growing Ecosystem&nbsp;</h2>   
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<p>The Bittensor network has grown to more than 102k accounts in recent years, with more than 2.5 million on-chain transactions. The mainstream adoption of artificial intelligence, as observed with Nvidia’s parabolic growth, has helped AI-related crypto projects grow exponentially in recent years.</p>

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