The cryptocurrency market is likely gearing up for a sustained bull run led by Bitcoin (BTC), which is seeking to reclaim the $70,000 resistance zone.
Amid the current price movement, select altcoins are experiencing a steady rise in value, presenting a prime opportunity for entry.
In gearing up for the next altcoin season, Finbold initially consulted OpenAI’s artificial intelligence platform, ChatGPT, on December 2, 2023, to gather insights regarding which coins and tokens will likely record significant returns when the altcoin season kicks in.
ChatGPT altcoin picks for the next altseason. Source: Finbold
Ethereum was trading at $2,087 on December 2. As of today, July 22, the second-ranked crypto by market cap is trading at $3,485, representing an increase of approximately 67%. Notably, Ethereum continues to show potential for further gains, considering the market is anticipating the rollout of the spot Ethereum exchange-traded fund (ETF) in the United States.
On the other hand, Polkadot was trading at $5.4 on December 2, and it is now trading at $6.26, marking an increase of about 15.93%.
Solana was trading at $59 on December 2, and today, it is trading at $178, an increase of approximately 201%. Indeed, SOL was partly aided by network-specific catalysts, such as the significant interest in the meme coins launched on the platform.
The cryptocurrency portfolio returns
In gauging the return of this portfolio, an initial investment of $1,000 should be assumed to be equally divided among the three altcoins. This means $333.33 was invested in each altcoin. For Ethereum, an initial investment of $333.33 would have bought approximately 0.1597 ETH, now worth about $556.01.
With Polkadot, the initial investment would have bought approximately 61.73 DOT, now worth about $386.43. For Solana, the initial investment would have bought approximately 5.65 SOL, now worth about $1,006.70.
Summing up each investment’s current values, the portfolio’s total value today is approximately $1,949. This means the initial investment of $1,000 has yielded a profit of $949, translating to a 94.91% return.
Therefore, investors who followed ChatGPT’s altcoin portfolio recommendation back on December 2 have nearly doubled their initial investment. It is worth noting that during this period, the altcoins recorded significant price increases, aligning with Bitcoin’s all-time high recorded in early 2024 in the wake of the approval of the first Bitcoin ETF in the US.
Disclaimer:The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk
