Is Fetch.ai Only Just Getting Started? Let's Use Data Science to Figure it Out
TLDRThe video discusses the recent surge in Fetch AI's token (FET), highlighting its impressive 225% increase since early February and a 56% rise in just a few days. The presenter explores FET's valuation against Bitcoin, noting its new all-time high and potential for continued outperformance. They also delve into onchain data, revealing profit-taking behavior and the overall bullish sentiment in the FET market. The video uses various models to forecast FET's potential, suggesting a continued bullish trend, although cautioning that past performance is not indicative of future results.
Takeaways
- 📈 The token for Fetch AI (FET) has seen a significant increase in value, with a 56% rise in recent days and a 225% increase since early February.
- 🚀 FET's recent performance has been one of the most impressive in the bear market, with a nearly 3,000% move to the upside.
- 🔄 FET's valuation against Bitcoin is at an interesting spot, having reached new all-time highs, suggesting potential for continued outperformance.
- 🤖 Fetch AI is an AI-related project, a marketplace for exchanging resources used in training AI models, which benefits from the current AI hype.
- 📊 Onchain data for FET shows that while some profit-taking has occurred, it has not reached levels seen at previous local tops, suggesting the rally may not be over.
- 📉 The net realized profit and loss on the FET network indicates that the recent price increase has not led to substantial selling pressure.
- 🔄 The percentage of FET held in profit is at 100%, reflecting the overall bullish sentiment and the potential for further price increases.
- 📝 The realized price for FET shows that the average cost basis is significantly below the current price, which could lead to profit-taking but also suggests room for further price growth.
- 📊 Risk models suggest that FET has high upside potential relative to downside risk, with a high risk score indicating potential for further price increases.
- 🔮 Forecast models estimate an 87% chance of FET's price being above current levels in six months, indicating a bullish outlook.
- 🌟 Momentum bias indicators for FET show a strong bullish trend, with the asset spending more time in the green (bullish territory) than in the red (bearish territory).
Q & A
What is the recent performance of the Fetch AI token (FET)?
-The Fetch AI token (FET) has seen a significant increase in value, with a 56% rise in just a few days and a 225% increase since early February, marking a nearly 3,000% move to the upside.
How does Fetch AI's valuation against Bitcoin look currently?
-Fetch AI's valuation against Bitcoin is at an interesting spot, having reached new all-time high levels. This indicates that FET has been outperforming Bitcoin and could potentially continue this trend.
What is Fetch AI and how does it benefit from the AI hype?
-Fetch AI is a marketplace for exchanging resources used in training AI models. It benefits from the AI hype due to its direct connection to the AI industry, which has seen increased interest and investment recently.
What is the significance of the net realized profit and loss on the FET network?
-The net realized profit and loss on the FET network indicates the overall profitability of transactions. High values suggest significant profit-taking, while low values indicate losses. This data helps in understanding market sentiment and potential future price movements.
How does the percentage of FET held in profit versus loss reflect the market's current state?
-Currently, 100% of the FET supply is held in profit, which is typical when reaching new all-time highs. However, the percentage has fluctuated slightly, indicating some trading activity but not a massive sell-off.
What does the realized price of FET tell us about the market?
-The realized price of FET is the average cost basis across all FET holders. A significant deviation between the realized price and the current price could indicate a potential for profit-taking, as investors may be tempted to sell when they are significantly in profit.
What are the implications of the Upside Downside Potential Indicator for FET?
-The Upside Downside Potential Indicator suggests that FET has a high risk associated with it, indicating that while there is potential for further price increases, there is also a risk of a correction or a more significant price drop.
What does the Forecast Model predict for FET's price in the next 6 months?
-The Forecast Model gives an 87% chance of an upside in FET's price over the next 6 months, suggesting a bullish outlook for the token in the medium to long term.
How does the Momentum Bias Indicator (MBI) for FET look currently?
-The MBI for FET is currently in a bullish state, indicating that the market has a momentum bias to the upside. This is consistent with bull market behavior and suggests that FET could continue to perform well.
What should investors consider when looking at FET's potential future performance?
-Investors should consider FET's recent performance, its valuation against Bitcoin, the on-chain data indicating profit-taking and market sentiment, and the predictions from various models. They should also be aware that while the outlook is bullish, market conditions can change rapidly.
Outlines
📈 Fetch AI Token's Recent Surge
The video discusses the significant increase in the value of Fetch AI's token (FET), highlighting a 56% rise in just a few days and a 225% increase since early February. The presenter attributes this to the overall bullish market and the AI hype surrounding Fetch AI, which operates a marketplace for AI model training resources. The video also mentions that FET's valuation against Bitcoin is at an interesting spot, having reached new all-time highs, suggesting potential for continued outperformance against Bitcoin.
🔍 Onchain Data Analysis for FET
The presenter delves into onchain data for FET, providing insights into the network's net realized profit and loss. The data shows that while there has been some profit-taking, it is not as significant as in previous local tops. The video emphasizes that FET's current price is at an all-time high, which means that not as much of the supply has been sold for profit as one might expect. The presenter also discusses the percentage of FET held in profit, which is currently at 100%, indicating a strong bull market phase. The video suggests that while there may be corrections, the overall outlook for FET remains bullish.
📊 Bull Market Characteristics and FET's Position
The video continues with an analysis of FET's position in the bull market, noting that the asset has been able to extend itself far above average cost bases, a characteristic of bull markets. The presenter points out that while people are in profit, the degree of profit is not as extreme as it has been in the past, suggesting that there may not be an immediate need for a market correction. The video also discusses the realized price for FET, which is the average cost basis across all FET holders, and how this metric can indicate potential for profit-taking and market shifts.
🚀 Bull Market Predictions and FET's Momentum
The video concludes with a discussion of various models that predict FET's future performance. The upside-downside potential indicator suggests that FET has a high risk-reward ratio, with a potential for further price increases. The forecast model gives a high probability of FET's price being above its current level in six months. Lastly, the momentum bias indicator shows that FET has transitioned into bull market behavior, with a strong momentum that could continue. The presenter emphasizes that while these models are not financial advice, they suggest a bullish outlook for FET in the current bull market cycle.
Mindmap
Keywords
💡Fetch AI (FET)
💡Token Valuation
💡Market Cycle
💡Onchain Data
💡Profit-Taking
💡Realized Price
💡Bull Market
💡Risk Model
💡Forecast Model
💡Momentum Bias Indicator (MBI)
Highlights
Fetch AI token (FET) has seen a significant increase in value, with a 56% rise in recent days and a 225% increase since early February.
FET's valuation against Bitcoin has reached an all-time high, suggesting potential for continued outperformance.
Fetch AI is an AI-related project, serving as a marketplace for exchanging resources used in training AI models.
The AI hype, including the popularity of chatbots and large language models, is benefiting Fetch AI and could lead to increased liquidity.
Onchain data for FET shows that despite recent gains, profit-taking has not reached levels seen at previous local tops.
Normalized profit and loss data suggests that the recent price increase has not led to a massive shift in FET supply.
100% of FET is currently held in profit, which is typical when breaking new all-time highs.
The realized price of FET indicates that holders are significantly above their average cost basis, which could lead to profit-taking.
In bull markets, assets like FET can remain well above their realized price for extended periods.
The risk model suggests that FET's potential upside is high, but it's important to watch for signs of profit-taking and potential corrections.
The forecast model gives FET an 87% chance of an upside in the next six months.
The momentum bias indicator for FET shows a bullish market, with more time spent in green (upside) than red (downside).
FET's rapid transition from bear market to bull market behavior is notable and suggests strong momentum.
High MBI levels can act as points of local tops in the short term, but the overall outlook remains bullish.
The power of models and onchain data can provide insights into the potential for further upside in FET's price.
The content is not financial advice, but the analysis suggests a bullish outlook for FET in the current bull market.