coinetvints

The upcoming synergy between Crypto and AI in 2024.

AI and cryptocurrency are among the most revolutionary technologies today. While AI empowers individuals to perform tasks traditionally done by financial institutions, cryptocurrency enables machines to carry out tasks typically done by humans. The integration of AI into the crypto space has given rise to a new breed of coins that leverage AI technologies.

Bitcoin stands as the best-selling digital currency.

For years, Bitcoin (BTC) has held its position as the favored crypto among investors, and this narrative continues to prevail. Since its inception, Bitcoin has maintained its status as the most traded crypto in the market. A panel consisting of 32 financial technology and cryptocurrency specialists anticipates that the price of Bitcoin will reach a peak of $42,225 before eventually settling at $35,459 by the end of this year.

Surge in gold prices, confluence resistance within reach. What's the outlook for XAU/USD?

Gold (XAU/USD) has been on the rise for the fourth consecutive session, consolidating its position. With recent gains factored in, XAU/USD has increased by over 2% from the lows of last week, which were near $1,985 following the higher-than-expected U.S. inflation numbers. However, it is worth noting that the Federal Reserve's monetary policy direction may limit the upside potential of gold in the short term, so it is advisable to exercise caution.

Crude oil heavy as global demand worries win out over geopolitics.

Despite the ongoing conflict in the Middle East and its potential effects on oil supply, crude oil prices experienced another decline due to prevailing concerns about final demand levels. The International Energy Agency's recent adjustment to its 2024 oil-demand growth forecast played a significant role in shaping market sentiment. The agency now expects a million fewer Barrels Per Day compared to OPEC, forecasting a growth of 1.2 million BPD while OPEC projects 2.25 million.

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