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The Bittensor price dropped 16% in the last week and 4% in 24 hours to trade at $343.66 as of 4:00 a.m. EST on trading volume that went down 10% to $110.69 million.
The TAO price chart is mirroring that of Bitcoin, which has affected many other altcoins as well. After dropping throughout last week, the TAO price finally started to recover on Sunday and most of Monday, only to start spiraling down in the late hours of the day. The decline continued well into Tuesday, and for now, Bittensor is still looking for its bottom.
Right now, Bitcoin is dropping due to economic uncertainty, and its decline is dragging the rest of the market down.
Bittensor Price Prediction
The Bittensor price dropped 16% in the last seven days, going from $410 last Tuesday to $343 at the time of writing. Notably, the token’s value went down even further, dipping to $328 on Aug. 3, but TAO managed to recover on Sunday and Monday, growing again to reach $375.
However, the market was not ready for prices to soar yet, and when traders started taking profits, most cryptos started seeing a sharp decline, including TAO. Its Bollinger Bands saw a major widening as the declining price started pushing the lower band further down, sending out bearish signals.
TAO/USDT chart analysis (Source: TradingView)
The project’s Relative Strength Index (RSI) has been fluctuating between the neutral value of 50 and the overbought zone over the last two days, venturing beyond the value of 70 from time to time.
However, in the last 12 hours, it dipped below 50, first reaching the edge of the oversold zone, and eventually dropping down to the value of 28.29. Now, however, some traders started buying the dip, pushing the RSI back up, and signaling a potential recovery, which could follow throughout the rest of the day if another bearish wave doesn’t push its price further down.
Promising Alternative To Bittensor
While Bittensor could see a recovery in the coming hours, investors are buying SUBBD Token (SUBBD).
The SUBBD token is a native cryptocurrency of the SUBBD platform — a new hub for content creators built on blockchain technology that emerged as a decentralized rival to OnlyFans. The project uses other emerging technologies, like AI, which can make the experience better for content creators and their fans.
Specifically, AI can take over many mundane day-to-day tasks that are otherwise quite boring and time-consuming for content creators. With such tasks taken care of by artificial intelligence, creators can dedicate more time to finding new ways to monetize their content and connecting with their communities.
Over 2,000 top-earning creators have already joined the platform, with more than 250 million followers who could become SUBBD users once the token goes live. However, if they buy it early, during presale, they can get special perks, like early access to the platform, access to exclusive content, platform discounts, and even a 20% staking APY.
On top of that, many experts believe that the SUBBD token will soar after going live, including those behind 99Bitcoins, a YouTube channel with over 723k subscribers. In one of their videos, the experts predicted that SUBBD could be the next 10x crypto.
So far, the token’s ICO raised over $947k, and is just about to hit $1 million raised. If you wish to join others who got SUBBD tokens for only $0.0561, buy now, before a presale price hike in about 2 hours.
Visit the SUBBD Token website.
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