Elon Musk, known for influencing cryptocurrency markets, has shifted his focus from crypto to artificial intelligence (AI), particularly through the Grok Artificial Intelligence Bot. His reduced attention to crypto might benefit investors by minimizing the market volatility often triggered by his speculative tweets.
Grok Artificial Intelligence Bot by xAI
Developed by xAI, Grok AI Bot is designed to provide real-time access to extensive data, including news, events, prices, and technical information. Aimed at enhancing research and innovation, Grok is known for its humorous approach and is currently available only to US citizens. Its comparative performance is noted to be superior to ChatGPT-3.5, though its effectiveness against the latest GPT4 version remains unknown.
Impact on AI Altcoins
Musk’s foray into AI, coupled with the past impact of GPT’s launch, suggests potential growth for AI-focused altcoins. Following the GPT launch, coins like AGIX and FET Coin experienced significant rallies. Similar excitement and market rallies could follow Musk’s new AI product, potentially benefiting AI altcoins. For example, FET Coin, which saw a rapid increase earlier, is showing a similar upward trend, with expectations to surpass the target of $0.6.
Conclusion
Musk’s pivot to AI could herald a new era of focus and growth for AI-related projects and altcoins, while also stabilizing the crypto market by reducing the influence of his speculative comments. Other altcoins in this category, like INJ, GRT, RNDR, ROSE, and OCEAN, may also witness changes in market dynamics.
