“Uptober” has kicked off with a bang, with many leading cryptocurrencies experiencing substantial gains over the last several hours.
Pi Network’s PI has also caught the green wave, but what is the maximum it can reach? Take a look at ChatGPT’s perspective on the matter.
PI’s Potential
The AI-powered chatbot estimated that the asset may experience a significant price pump if “Uptober” (October’s nickname across the crypto community) lives up to the hype. It outlined several potential factors, such as listing on a top-tier exchange, ecosystem developments, and a roadmap upgrade, which can act as catalysts for a possible bull run.
ChatGPT predicted that the most optimistic outcome for PI is to rise in the $0.35-$0.45 range, potentially driven by positive news and a broad crypto rally. The asset currently trades at around $0.27 (according to CoinGecko’s data), with the chatbot indicating that the resurgence will heavily depend on a breakout above the psychological resistance level of $0.30.
Moreover, it argued that if the “Uptober” enthusiasm accelerates and liquidity flows into speculative assets, PI could even aim toward the $0.50 region:
“PI could break through key resistances and surprise investors with a rally into the $0.40–$0.50 range, establishing itself as one of the standout performers of the month.”
Last but not least, ChatGPT touched upon Pi Network’s devoted community, which consists of millions of users. According to the chatbot, the vast base of Pioneers could be reenergized if the price starts climbing, and that in turn might lead to a further ascent.
The Bearish Outlook
At the same time, ChatGPT noted that the upcoming token unlocks, weak sentiment, and other bearish factors may prevent such a bull run for PI.
“Realistically, a rally into the $0.30–$0.35 band might be possible in a strong scenario. But given the looming token unlocks, weak sentiment, and technical resistance, expecting a massive leap beyond ~$0.40 would be risky.”
It is important to mention that almost 13 million tokens will be unlocked today (October 1): the record for the following 30 days. A total of 136.3 million PI will be released within that period, providing investors with the opportunity to offload assets they have been waiting to sell for some time.
The post How High Can Pi Network (PI) Go This ‘Uptober’? ChatGPT Breaks It Down appeared first on CryptoPotato.