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Elon Musk’s AI chatbot Grok has become increasingly consulted for its price predictions, processing questions and data to forecast cryptocurrency prices. As this happens, cryptocurrencies seem to be preparing for a new bull market. During this period, investors are adding to their positions and searching for the right altcoins to invest in for 2024. In this context, Grok made a selection of three altcoins.
Grok’s First Choice: Ethereum (ETH)
Grok’s first prediction for 2024, considered to be relatively low risk, is none other than Ethereum (ETH). ETH has been Bitcoin‘s closest follower since its inception and seems to have never disappointed investor interest with its solid stance. Grok foresees a fair value for ETH in the range of $8,000 to $10,000, explaining the rationale behind this choice.
Ethereum is a platform with strong fundamentals and a broad developer community, well-established and widely adopted. The successful implementation of Ethereum 2.0 and the continued growth of DeFi and NFT projects on the Ethereum network could further increase its value.
Polkadot (DOT) Attracts Attention
On the other hand, for investors who display a more aggressive attitude and aim for larger gains, Grok shared the idea that Polkadot (DOT) could reach a price range between $200 and $300 in 2024.
Polkadot is a promising interoperability platform that enables cross-chain communication and transactions. Its strong development team, growing ecosystem, and potential to be a critical infrastructure for next-generation blockchain projects could lead to significant growth in the coming years.
Pay Attention to Chainlink (LINK)
Grok also made a third prediction, favoring Chainlink (LINK). Emphasizing that LINK could be the right investment for extremely aggressive investors willing to take on higher risk, Grok suggests that the LINK price could rise to a range between $150 and $250.
Chainlink is a decentralized oracle network that provides real-world data to smart contracts. As the demand for reliable off-chain data in DeFi and other blockchain applications continues to grow, Chainlink’s adoption and value could significantly increase.
The Outcome of Grok’s Predictions
Investors considering Grok’s predictions might find themselves happy by the end of 2024 if they invest in Ethereum, Polkadot, and Chainlink. Looking at Grok’s choices, these projects encompass different use cases such as Web3 infrastructure, cross-chain solutions, and real-world data processing, respectively.
While making all these price predictions, Grok emphasizes that the predictions could be wrong and warns that the cryptocurrency market is extremely volatile and unpredictable.
