It is Christmas time, so that can only mean one thing – the new year is just around the corner, and artificial intelligence (AI) platform Google Bard, a brainchild of Alphabet (NASDAQ: GOOGL), has once again demonstrated its capacity to analyze the trends in the cryptocurrency market at the beginning of 2024.
As it happens, Finbold has asked Bard to offer its pick of the five best cryptocurrencies on the market that represent the best opportunities for purchase at the beginning of 2024, and the chatbot delivered some rather insightful, albeit not entirely unexpected, results on December 25.
Bitcoin 30-day price chart. Source: Finbold
#2 Ethereum (ETH)
Next, the chatbot’s second choice was Ethereum (ETH), which Bard noted was the platform for decentralized applications (dApps) whose “transition to a proof-of-stake consensus mechanism, which is more energy-efficient, could boost its adoption and value in 2024.”
At press time, this crypto asset was trading at the price of $2,287.66, which represents a decrease of 0.48% in the last 24 hours but nonetheless an increase of 6.03% across the previous seven days, a 10.01% gain over the month and a significant change to the upside of 87.76% in the past year.
Ethereum 30-day price chart. Source: Finbold
#3 Cardano (ADA)
Going further, the chatbot singled out Cardano (ADA), “a relatively new cryptocurrency with a focus on sustainability and scalability,” and “the potential to gain traction in 2024” thanks to its “Ouroboros proof-of-stake consensus mechanism that is capable of processing transactions more quickly” than Bitcoin and Ethereum.
Currently, the price of Cardano stands at $0.61, indicating a 0.93% drop on its daily chart while growing 8.06% in the last week and making more significant progress of 56.37% over the past 30 days, in addition to advancing 137.75% in the previous 12 months.
Cardano 30-day price chart. Source: Finbold
#4 Solana (SOL)
As its fourth pick, Bard went with Solana (SOL), praising it as a “high-performance blockchain (…) known for its speed and low fees,” which “has attracted a lot of attention in recent years” and its “potential to disrupt the DeFi and Web3 sectors could make it a top-performing cryptocurrency in 2024.”
In the meantime, Solana is boasting a price of $115.12, up 2.57% on the day and still holding onto the significant increase of 64.62% across the week and 97.24% over the past month, with an even more impressive yearly advance of 912.35%, according to the data on December 25.
Solana 30-day price chart. Source: Finbold
#5 Polygon (MATIC)
Finally, Polygon (MATIC) was Google Bard’s selection as the fifth-best crypto asset to invest in for early 2024, as it “has become increasingly popular due to its ability to reduce transaction fees and improve Ethereum’s scalability” as well as its “continued adoption could drive its price higher in 2024.”
Meanwhile, the price of Polygon at the time of publication stood at $0.875, up 2.79% in the last 24 hours, adding up to a gain of 12.37% across the past seven days and a 13.29% advance over the month while only managing to accumulate a 10.48% increase on its yearly chart.
Polygon 30-day price chart. Source: Finbold
Conclusion
All things considered, Google Bard has certainly picked some strong contenders to the crypto throne at the beginning of 2024, but the ultimate outcome will depend on various factors, which is why it is important to carry out one’s own research and weigh the risks before investing in any of them.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
