Google Bard predicts Tezos price for August

Google Bard predicts Tezos price for August

The Rising Tide of Tezos in the Blockchain Industry

In recent weeks, Tezos (XTZ) has made a steady climb in price, defying market sentiment as the fear and greed index for cryptocurrencies remains neutral. Currently trading at $0.845, XTZ has experienced a 27% increase from its lowest point this year1.

The AI Perspective: Google Bard’s XTZ Forecast

Artificial Intelligence (AI) has become a prominent theme in the market, drawing attention to platforms such as Google Bard and Microsoft Assistant. It is now common for individuals to consult these AI platforms for insights into various topics, including cryptocurrency trends.

Seeking guidance on Tezos, a glimpse of the future came from Google Bard itself. The AI platform provided an intriguing forecast for August, which showcases divergent opinions on the XTZ token’s price movement2.

According to Google Bard: “The forecast for Tezos in August is mixed. Some believe XTZ could reach $1.00 by month-end, while others anticipate a potential decline to $0.75. The overall sentiment surrounding Tezos is bearish, yet there are positive factors, such as the upcoming Jakarta upgrade, that might support the price.”3

If Google Bard’s forecast proves accurate, it suggests a potential 20% surge from the current price level. Conversely, should XTZ retreat to $0.75, it would signify a 10% decline4.

Tezos Price Analysis: Challenges and Prospects

Tezos, a prominent player in the blockchain industry, has encountered its fair share of challenges. Notably, it possesses a relatively minimal market share in crucial sectors like decentralized finance (DeFi) and non-fungible tokens (NFT)5.

With a total value locked (TVL) exceeding $73 million, Tezos ranks as the 35th largest blockchain network globally. However, its standing in the NFT industry has declined, illustrated by the mere $47,000 in Tezos NFT sales over the past 24 hours, placing it in 12th position globally6. Despite investing in advertising, including sponsorship with Red Bull Racing, Tezos has struggled to gain significant traction in these areas7.

Additionally, the impact of the Jakarta upgrade on the Tezos price remains uncertain. A previous upgrade, Nairobi, had minimal effects on the coin’s performance in June8.

How to Buy Tezos

For those interested in investing in Tezos, several platforms offer opportunities to acquire XTZ tokens. Here are two popular options:

1. eToro

eToro offers a wide range of cryptocurrencies, including Bitcoin, XRP, and others. Beyond crypto investments, eToro allows users to connect, learn, and even copy the strategies of successful traders9.

To buy XTZ with eToro, visit their website.

2. Public

Public is an all-in-one investing platform that enables users to invest in stocks, ETFs, cryptocurrencies, and even alternative assets like fine art and collectibles10.

To buy XTZ with Public, visit their website.

Investors interested in Tezos have multiple avenues to choose from, ensuring accessibility and flexibility in their investment journey.

In conclusion, Tezos continues to make strides in the blockchain industry, defying market sentiment with its recent price increases. However, it faces challenges in gaining substantial market share in areas like DeFi and NFTs. As the Jakarta upgrade looms, uncertainty surrounds the potential impact on Tezos’ price performance. Nevertheless, interested investors have several platforms available to enter the Tezos market and potentially benefit from its future growth.

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