The recent collapse of Silicon Valley Bank has reignited fears from traditional finance that a prolonged recession is imminent. On the one hand, rising retail prices call for quantitative easing, and on the other hand, rising interest rates hurt financial institutions.
What could this uncertainty mean for the crypto market, including Bitcoin (BTC), altcoins and brand new projects like AltSignals (ASI)?
What could the collapse of Silicon Valley Bank mean for the crypto market?
Silicon Valley Bank, formerly the 16th largest commercial bank in the US, quickly collapsed after a classic bank run left the institution unable to repay its creditors. This led to fears of a collapse of the US banking system in 2008, which would have far-reaching consequences for the rest of the global financial market.
The crypto market is unlikely to be safe from a widespread loss of confidence in the financial system; However, Bitcoin saw its highest daily price increase in the wake of the Silicon Valley Bank collapse.
BTC’s 45% price rise almost mirrors a rapid rise in the price of gold, suggesting that major institutions have treated the premier cryptocurrency as a hedge against financial collapse. However, altcoins in the crypto market have not responded with the same relative strength, which could indicate further problems in the coming weeks.
Whether the crypto market continues to follow Bitcoin’s price pattern remains to be seen. Despite the recent news from Silicon Valley Bank, the crypto market continues to push towards local highs, and new platforms like AltSignals look poised to capitalize on that movement.
ASI presale continues to attract investment amid uncertain crypto market conditions
AltSignal’s crypto sale is a long-awaited event, as the project has supported over 50,000 users with profitable trading signals since it was first launched in 2017. AltSignals is now expanding its blockchain offering to include an AI-powered trading tool called ActualizeAI.
The ASI presale attracted $112k during the same period that Silicon Valley Bank collapsed. This could be an uncharacteristic sign of strength relative to other altcoins in the crypto market, which is likely to indicate significant upside for the token when it launches on digital asset exchanges later in the year.
What is AltSignals?
AltSignals is an online trading group that uses algorithmic tools to deliver signals with unparalleled accuracy. The proprietary indicator released by the platform, AltAlgo™, has consistently signaled profitable crypto market trades with over 70% accuracy and has helped traders match their calls to 10x their portfolio for 19 separate months.
The new AI-powered trading stack, currently being developed by AltSignals, is designed to optimize the frequency and accuracy of trading signals shared within the group. ActualizeAI leverages natural language processing (NLP) and predictive modeling to bring machine learning capabilities to the project’s algorithmic indicators.
AltSignal’s new token, ASI, will supercharge the new blockchain services available on the platform and provide direct access to ActualizeAI. A central purpose of the AltSignals project is to help traders of all skill levels navigate the volatility of the crypto market while making significant long-term profits.
How does ASI work?
The primary benefit of the ASI token is to fund development and provide access to ActualizeAI. Token holders can also stake ASI on the AltSignals platform without any specified lock-up period and receive voting rights in future governance proposals of the project.
Holding ASI tokens also grants access to the AI Members Club, which contains a range of additional services for the AltSignals community. Members can also join trading tournaments on the new platform, where there are significant prize pools available to the winners.
AI Members Club also provides lucrative investment opportunities in early stage crypto projects. Pre-purchases and private sales are often some of the most rewarding investments in Web3and AI Members Club users can gain direct access to some of the most sought-after opportunities in the space.
Can ASI reach $0.50 in 2023?
The ASI token has been highlighted as one of the most exciting new releases in the crypto market. The token represents a project with a proven track record of success that is ready to grow, with 50,000 previous users already backing the new development.
The pre-purchase will gradually increase the cost of ASI from $0.012 to $0.02274. Once the pre-purchase is complete, ASI will be launched on digital asset exchanges and subject to free market movements. With widespread utility for the native token and deflationary tokenomics, experts predict significant gains in the coming months and years.
The 2023 price forecast for ASI highlights $0.50 as a critical resistance level. This would be more than 20 times from the end of the pre-purchase, which is a testament to the unique usability and product-market fit of the project.
In light of the Silicon Valley Bank collapse, is ASI still worth buying?
ASI looks like a worthy addition to any investment portfolio at the current price of $0.015. The pre-sale could be the perfect time to get involved, as the cost will probably only stay very low until it reaches its IDO valuation of $0.02274.
AltSignals is a rapidly evolving blockchain protocol that will soon be powered by artificial intelligence. The new ASI token brings a host of benefits within the ecosystem, and its embedded tools are likely to appeal to a significant number of blockchain users over time. Whether or not Silicon Valley Bank causes a short-term reaction in global markets, AltSignals remains a strong long-term investment option.
You Can participate in the $ASI crypto sale here.