Avalanche (AVAX) has had a dynamic 2023, marked by significant partnerships and notable price movements. It forged alliances with industry giants like Amazon’s AWS and gaming company BLRD, solidifying its position in the market. The price of AVAX witnessed a surge of over 200% in the last three months, accompanied by a surge in trading volume after the launch of Stars Arena. However, the platform’s security was compromised in an October hacking incident.
As we approach the new year, Finbold sought the insight of artificial intelligence platform ChatGPT, developed by OpenAI. Considering Avalanche’s recent developments, overall ecosystem growth, and price movements, ChatGPT initially predicted that AVAX would range between $50 and $60 on January 1, 2024.
When pressed for a narrower estimate, ChatGPT identified $42-47 as the most credible range. However, it highlighted the significant volatility AVAX experiences in the crypto market. The AI also mentioned the potential for a major bull run, forecasting a high of $65 if the broader market maintains upward momentum.
Interestingly, ChatGPT’s predictions align closely with those made two weeks earlier by another major AI platform, Google Bard. Google’s LLM estimated that Avalanche would not surpass $63.38 on January 1, 2024. However, the AI cautioned that adverse developments, whether regulatory, technological, or market-driven, could drive AVAX down to $30 before year-end.
AVAX’s recent price movements illustrate both its volatility and its impressive bull run. In the last 24 hours, Avalanche experienced a 3.80% decline, bringing its current price to $44.42. However, over the past 30 days, AVAX has rallied significantly, showcasing a 116.14% increase in Q4. Looking back at the entire preceding year, Avalanche has risen by nearly 280% compared to its crypto winter lows.
As AVAX enters the new year, investors will be closely watching its price trajectory and developments within the cryptocurrency market. With the support of strategic partnerships and advancements in its ecosystem, Avalanche is poised for further growth. However, given the inherent volatility of the crypto market, caution remains necessary to navigate unpredictable swings.
As the year draws to a close, AVAX holders, industry analysts, and enthusiasts eagerly anticipate the unfolding of Avalanche’s journey in 2024.
