A popular crypto trader, known as Bluntz, is predicting a downturn for AI-related altcoins in February. Bluntz, who boasts over 300,000 followers on X, uses the Elliott Wave theory to analyze market trends. He believes the recent bull run for many AI cryptocurrencies is ending.
Elliott Wave Theory and the Coming Correction
Bluntz explains that many AI altcoins have completed a five-wave bullish trend, as predicted by the Elliott Wave theory. This theory suggests that a five-wave pattern indicates a main trend, followed by a three-wave correction. He believes we’re now entering that correction phase. He warns, “There’s going to be a rude awakening for AI hype next month.”
Two Altcoins in the Crosshairs
Bluntz highlights two specific altcoins – AIXBT and FARTCOIN – as prime examples of assets potentially facing significant corrections. AIXBT, linked to a virtual AI agent, and FARTCOIN, a memecoin with an AI content generation framework, are both showing signs of a trend reversal, according to his analysis.
Which Coin Will Fall Harder?
When asked which coin would experience a steeper drop, Bluntz initially favored AIXBT. However, he revised his prediction after observing increased activity from FARTCOIN holders, suggesting FARTCOIN might see a more dramatic correction.
Current Market Data
At the time of writing, AIXBT is trading at $0.74, down 21% from its all-time high. FARTCOIN is at $1.54, a 36% drop from its peak.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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