With a crypto market altseason believed to be in sight, attention is drifting towards the altcoins with the potential for better performance.
For context, altseasons refer to periods in the market cycle where Bitcoin appears to decline in dominance. Notedly, this plays out when more investments seem to go into altcoins than BTC.
CoinGecko, a renowned crypto tracking site, revealed Bitcoin’s market capitalization and dominance to be $770,290,720,905 and 49.625%, respectively.
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Meanwhile, for Ethereum, one of the most sought-after altcoins, the same tracking site revealed a market capitalization of $259,394,948,443 with a cap dominance of 16.716%.
Comparing the above two statistics, it is glaring that Ethereum and other altcoins still have a long way to escape BTC’s dominance.
However, some traders with inclinations for altcoins strongly believe that the coming bull season will turn the prevailing conditions in altcoins’ favor.
In light of the belief shared by the group of traders above, we thought it wise to inquire ChatGPT about altcoin options to hodl in anticipation of the altseason, an artificial intelligence (AI) with growing applications in the crypto sphere.
Notably, the AI model was quizzed on the best altcoin choices for three different categories of investors. ChatGPT was also tasked to give reasons for its responses, which shall be revealed in this article.
For Investors with conservative profiles, the chatbot noted Ethereum to be a good option. According to ChatGPT, Ethereum’s position as one of the leading Smart contract platforms makes it a unique choice for this group of investors.
In addition, ChatGPT noted that following the actualization of the proof-of-stake consensus mechanism via the Ethereum 2.0 upgrade, the token will guarantee better security, scalability, and sustainability to attract more users.
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For aggressive investors, ChatGPT spotlighted Polkadot (DOT) as an appropriate investment choice. According to the chatbot, DOT’s unique ability to connect various blockchain projects, its parachain structure, strong Web3 foundation support, and bubbling development community are all indications that the token boasts potential for explosive growth.
Solana (SOL) was another investment choice pinpointed by ChatGPT. Notably, it was deemed suitable for highly aggressive crypto dealers. According to the AI chatbot, SOL boasts some innovative advancements, which seem focused on speed and efficiency.
ChatGPT added that the above qualities are what most crypto users appear to seek in most crypto assets.
Finally, there is no guarantee that the events discussed in this piece will play out in reality. Readers are encouraged to do adequate research before investing in any crypto asset.
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