The massive rally the crypto market is currently experiencing has seen many cryptocurrencies rise to prices not seen in over a year. In about two months, Bitcoin (BTC) has surged from relative stasis between $25,000 and $30,000 to over $40,000. Ethereum (ETH) is also near its highest level since the beginning of 2022.
Many altcoins also recorded impressive gains. Solana (SOL) gained attention in November and continued to perform well in December. Bonk (BONK) has increased by thousands of percent in the last few months. Another cryptocurrency that has performed very well recently, especially since the beginning of November, is Avalanche (AVAX).
Driven by the current bull market, a number of positive developments, and key partnerships such as AWS and BLRD, AVAX is up 276.88% since January 1, 2023. These developments have left many investors wondering how much bigger Avalanche needs to grow. In his search for answers, Finbold turned to Google’s artificial intelligence (AI) platform Bard to see where they thought AVAX would be in early 2024.
Google Bard Offers a Possible AVAX Price Range in Early 2024
Avalanche analysis found that Google Bard is quite bullish, citing both positive crypto-related news over the past year and its overall performance, especially in the context of the ongoing bull market. He explained that Avalanche is expected to continue growing in the new year despite various regulatory factors such as artificial intelligence,
volatility in the cryptocurrency market, and competition from other major smart contracts. According to Bird, AVAX is expected to remain between $55.51 and $63.38 as of January 1, 2024. He decided to see where he could stand.
Bird also acknowledged that both a sustained and strengthening bull market and a major crash are unlikely. If Avalanche’s rally continues to gain momentum, AI predicts the price will rise to $73.93 by New Year’s Eve and fall to $44.32 in a bearish scenario.
It is worth noting that due to the low numbers Bard gave for the bearish scenario, the AI believes that AVAX will continue to rise for a while, at least if the asking price is higher than the current value of the cryptocurrency.
AVAX Price Analysis
AVAX has been doing very well lately. It recorded a staggering increase of 82.33% last week. Movements in the last 24 hours of trading are quite similar, at the time of publication the price is $40.42, meaning 13.86% is in the green.
It is also worth noting that AVAX made two attempts to stabilize above $42 in the last 12 hours and pulled back both times.
In fact, the number of avalanches has been increasing steadily since November. It gained 118.52% in value in the last 30 days. But a closer look reveals that much of its impressive rise has happened relatively recently.
AVAX has spent most of 2023 relatively stable between $9 and $16. It tends to increase in spring and decrease in autumn.
