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The Bittensor project appeared in the cryptocurrency rating in March 2023. The price of the TAO token started at $100. Considering that the bears ruled the market at that time, the price of TAO began to fall immediately. In March, the price of TAO dropped to $30, thereby setting its own anti-record. Until November, the price of TAO fluctuated around $50 per coin. And in December, the price rose to $376. We can consider that this was the first wave of the bull season of 2024.
In January, there was a correction when TAO dropped to $220. After that, the second wave of the bull market pushed TAO to $757. At the moment, this is an absolute record for the TAO coin.
What will be the price during the third wave of the bull market in 2024?
I would like to say right away that for all coins, the chart clearly showed only 2 bullish waves of the 23-24 season. But on the TAO chart, 3 waves are visible. The first was in December 2023. Then there was a clear correction and the second wave in March 2024. The third bullish wave is happening right now in November 2024.
According to our forecasts, Bitcoin should rise in price to the level of 80 thousand dollars. Today, Bitcoin costs 76 thousand and it has only 4 thousand left to overcome. In this case, the price of the TAO coin will overcome the level of 550 dollars. Today, TAO costs 502 dollars. If Bitcoin grows to 100 thousand, it is likely that TAO will reach the level of 700 dollars and may even set a new record.