Bittensor Price Breaks Above $300, Eyeing a 50% Surge Ahead of Halving

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Bittensor Price Breaks Above $300, Eyeing a 50% Surge Ahead of Halving

Highlights

  • Bittensor price surge predicted post-halving, up to 50% potential.
  • Halving cycles of Bitcoin make analysts predict the rise of TAO.
  • Technical shows a positive trend of Bittensor, aiming at a price of 350.

Bittensor Price has risen above $300, experiencing a 7% increase in the last 24 hours. This surge follows a broader market rebound. With the TAO Halving approaching on December 14th, analysts are expecting a 50% price increase. 

The crypto market as a whole is up 4%, reclaiming a 10%  decline in the last month. Bitcoin price has also recovered, and it is above $91k. Other leading cryptocurrencies, such as Ethereum (ETH), XRP, and Solana (SOL), have also recorded immense growth.

Grayscale Analyst Foresees Bittensor Price Surge After Halving Event

Grayscale analysts have stated that the next TAO halving might cause an increase in prices. The initial halving of Bittensor starts on Dec.14.This will reduce the daily emissions of the TAO tokens by 7,200 to 3,600, which may increase its value.

As the analyst noted, the past halving cycles of Bitcoin have brought about tremendous price increases. In their view, TAO may end up in the same place.

This forecast has attracted the interest of a large number of people in the cryptocurrency market. The investors are now monitoring the halving with bated breath, hoping of future returns. 

Analyst Predicts 50% Surge for TAO Price This Week

A crypto analyst has recently given an overview of the cryptocurrency market, with emphasis on TAO token. 

The analyst observed that TAO has escaped a falling wedge pattern on the 4-hour chart, which is an indication of the possibility of an upward trend. The analyst anticipates a strong bullish trend and projects a 50% increase in TAO in the week.

The chart shows a noticeable wedge breakout, which is one of the technical indicators that usually indicates a reversal in price action. In case this upward trend persists, TAO token may gain significantly over the next few days.

Bittensor Price Breaks Above $300, Eyeing a 50% Surge Ahead of Halving
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Will Bullish Trend Continue?

As of the latest update, the TAO price surged to $301, showing a strong increase over the past 24 hours.

The MACD (Moving Average Convergence Divergence) shows a positive trend. The MACD line has crossed the Signal line, indicating a possible bullish momentum.

Additionally, the RSI (Relative Strength Index) stands at 64, signifying that the market is at present in the bullish zone.

 If Bittensor price maintains its upward movement, the immediate target would be to break the $320 resistance. 

A successful breakout could lead to a further surge towards the $350 level, with Bittensor longer-term targets reaching as high as $360.

Bittensor Price Breaks Above $300, Eyeing a 50% Surge Ahead of Halving
Source: TAO/USD 4-hour chart: Tradingview

In case TAO fails to overcome resistance or has a sharp pullback, it might retrace to the $300 point as support.

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Frequently Asked Questions (FAQs)

1. What is Bittensor (TAO)?

Bittensor (TAO) is a decentralized, machine learning network that rewards participants for contributing computational resources to the network. It’s designed to build a decentralized AI ecosystem.

2. What is the TAO Halving?

The TAO halving is an event where the daily token emissions of the Bittensor network are reduced by half. The first halving is scheduled for December 14, 2025, and is expected to drive up the value of TAO.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.