Fetch.ai is one of the most exciting blockchain projects creating real-world uses for artificial intelligence and machine learning. The UK technology company is on a mission to provide decentralized AI solutions for businesses in supply chain, healthcare, finance, and other industries.The core of Fetch.ai is its platform that lets users build autonomous software programs called agents. These agents can independently do tasks and make transactions for individuals or organizations.Fetch.ai’s architecture, Source: Fetch.aiThe Fetch.ai ecosystem is powdered by FET, the Fetch.ai native token that allows users to spend FET coins to power activity across Fetch.ai’s network. After its launch in 2019, the token traded sideways below $0.20 for most of the year but later surged amid a broader recovery in the crypto markets. It hits its first all-time high of $0.90 on Sep 18th, 2021 months after the third bitcoin halving. At the time of writing, FET has reached new heights and is currently trading around $1.62, representing a 66.33% increase in the last 7 days.To complement this recent surge, our algorithmic has predicted FET to follow an uptrend movement and reach $2.38 by May 7th, 2024. This represents a +45% upside from current levels. Now, let’s discuss some factors that can potentially make this prediction come true.The Bitcoin halving refers to the reduction in Bitcoin mining rewards by 50% approximately every 4 years. This is coded into Bitcoin’s protocol to control inflation.The next halving is estimated for April 2024 and will see rewards fall from 6.25 BTC to 3.125 BTC per block. Previous halvings precipitated bull runs as reduced supply met steadily growing demand.While the halving directly impacts Bitcoin miners, it also has spillover effects on the broader crypto market as historical data has shown altcoins like FET rallying strongly in the months following previous halvings.Beyond the halving, some major growth trajectories can also complement the bullish prediction:The release of AI chatbots like ChatGPT from OpenAI has sparked tremendous interest in artificial intelligence technology among consumers, enterprises, and investors alike. While still in the early stage, the democratization of AI unlocks new possibilities across many sectors.As a leading decentralized platform for AI, Fetch.ai is primed to ride this wave as It offers a robust infrastructure for building and monetizing AI-powered solutions. The heightened spotlight on AI tech lifted the valuation of AI research company Anthropic to $4.1 billion in 2022. Fetch.ai could enjoy similar investor enthusiasm given its unique positioning.The Fetch.ai network offers FET token holders the ability to earn staking rewards. By staking FET, users can earn up to 10% APY in rewards. This provides a steady stream of passive income for long-term holders. It also limits the circulating supply as tokens are locked up for staking.According to data from Staking Rewards, around 8.52% of the total supply is currently staked. This both secures the network and represents a significant holding of tokens by investors with long-term conviction. These dynamics support the model’s predicted price uptrend.Source: Staking RewardsIn 2023, Fetch.ai announced major partnerships with industry leaders including Bosch and Deutsche Telekom. These collaborations help to validate the technology, increase real-world usage, and bring new visibility to the project.The partnership with Bosch focuses on researching and building blockchain-based solutions for IoT, while Deutsche Telekom will serve as a validator on the Fetch.ai network. These involvements in multi-billion dollar corporations demonstrate the technology’s credibility and unlock new use cases.In summary, Fetch.ai finds itself at the intersection of two highly promising trends – blockchain and artificial intelligence. With accelerators like staking rewards, partnerships, and real use cases, the project is executing well on its ambitious vision.The upcoming Bitcoin halving will be a macro factor that could contribute to the bullish price prediction of +45% for FET by May. If Bitcoin history repeats, the halving could ignite the next crypto bull run. Combined with its own growth, Fetch.ai is well-positioned to capitalize on this market-wide catalyst.Beyond Fetch.ai, our algorithm also predicts strong price increases for Dogecoin (DOGE), SingularityNET (AGIX), and Solana (SOL) following the upcoming Bitcoin halving..
