Bittensor ($TAO) Crypto Forecast: Down 11.6% Today

What is Bittensor?

TAO is a relatively new cryptocurrency token that has gained attention in the market for its unique features and potential for growth. The overall cryptocurrency market has been volatile recently, with investors closely monitoring various tokens for potential opportunities.

Why is Bittensor going down?

TAO crypto is down 11.6% on Jul 3, 2024 17:52

• TAO experienced a strong bearish movement today, possibly due to the negative sentiment surrounding the cryptocurrency market as a whole.
• The news of Bittensor Network being exploited and placed in 'Safe Mode' following multi-million dollar wallet drains may have contributed to the overall bearish sentiment in the market, impacting TAO's price negatively.
• Additionally, the security incident faced by Holograph, another blockchain project, could have added to the concerns of investors, leading to a sell-off in TAO.
• The halt of the 'Decentralized' AI network Bittensor in response to an $8M hack could have further shaken investor confidence in the cryptocurrency space, affecting TAO's price negatively as well.

TAO Price Chart

TAO News

Bittensor Network in 'Safe Mode' Following Exploit

Bittensor Network in 'Safe Mode' Following Exploit

https://www.bankless.com/bittensor-network-in-safe-mode-following-exploit

Bittensor Blockchain Placed in ‘Safe Mode’ Following Multi-Million Dollar Wallet Drains

Bittensor Blockchain Placed in ‘Safe Mode’ Following Multi-Million Dollar Wallet Drains

https://news.bitcoin.com/bittensor-blockchain-placed-in-safe-mode-following-multi-million-dollar-wallet-drains/

Holograph Hacked by Former Insider, Faces Major Security Incident

Holograph Hacked by Former Insider, Faces Major Security Incident

https://www.coingabbar.com/en/crypto-currency-news/holograph-crypto-hacked-ex-worker-suspected

2 cryptocurrencies to avoid this week as negative sentiment looms

2 cryptocurrencies to avoid this week as negative sentiment looms

https://finbold.com/2-cryptocurrencies-to-avoid-this-week-as-negative-sentiment-looms/

‘Decentralized’ AI network Bittensor halted in response to $8M hack

‘Decentralized’ AI network Bittensor halted in response to $8M hack

https://protos.com/decentralized-ai-network-bittensor-halted-in-response-to-8m-hack/

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Bittensor Price History

03.06.2024 - TAO Crypto was down 13.4%

• TAO experienced a strong bearish movement following news of a major security incident involving Holograph, a related project.
• The negative sentiment surrounding cryptocurrencies likely contributed to the downward pressure on TAO.
• The $8 million hack on the 'Decentralized' AI network Bittensor, which triggered a network shutdown, further exacerbated the bearish trend for TAO.
• Investors reacted to the security breach and network shutdown by selling off TAO tokens, leading to a significant drop in its price to a six-month low.

03.06.2024 - TAO Crypto was down 13.6%

• TAO experienced a significant bearish movement following news of the $8 million hack on the decentralized AI network Bittensor, which led to the network being halted.
• The security breach and subsequent network shutdown raised concerns among investors, triggering a sell-off of TAO tokens and causing its price to plummet to a six-month low.
• The hack and network shutdown highlighted the vulnerabilities in decentralized platforms, impacting investor confidence in TAO and leading to the sharp decline in its price.
• The market reaction underscores the importance of security measures in the cryptocurrency space and serves as a reminder of the risks associated with investing in digital assets.

03.06.2024 - TAO Crypto was down 12.6%

• TAO token plummeted by 15% due to a wallet security breach in the Bittensor network, resulting in an $8 million loss.
• The news of the hack spread quickly, causing panic selling among investors and leading to a sharp drop in TAO's price.
• The overall market sentiment was further impacted by Federal Reserve Chair Jerome Powell's comments, triggering a broader sell-off in the cryptocurrency market.
• The combination of the security breach and negative market sentiment contributed to TAO's steep decline today.

03.06.2024 - TAO Crypto was down 13.2%

• TAO experienced a significant bearish movement of 15% following news of an $8M loss due to a wallet breach in the Bittensor network.
• The market sell-off triggered by external factors may have added to the downward pressure on TAO and other cryptocurrencies.
• The security breach in Bittensor leading to a possible hack and chain halt likely eroded investor confidence in TAO, contributing to its sharp decline.
• The combination of security concerns, market sell-off triggered by external factors, and specific issues within the Bittensor network all played a role in TAO's bearish movement today.

03.06.2024 - TAO Crypto was down 14.3%

• TAO token plummeted by 15% following a security breach at Bittensor, the AI network it is associated with, causing concerns among investors.
• The possible hack leading to a chain halt at Bittensor triggered panic selling of TAO tokens, exacerbating the bearish trend.
• The overall market sentiment was also influenced by the reversal of gains in major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin, contributing to the downward pressure on TAO.
• Despite overcoming previous resistance levels, TAO now faces new challenges stemming from the security breach at Bittensor, highlighting the importance of cybersecurity in the cryptocurrency space.

03.06.2024 - TAO Crypto was down 14.4%

• TAO has undergone a significant bearish movement, possibly linked to an incident on the Bittensor network that resulted in chain disruptions, prompting uncertainty and selling pressure.
• The cryptocurrency market sentiment is relatively muted, with major tokens like Bitcoin, Ethereum, and Dogecoin reversing earlier gains, suggesting a lack of substantial positive drivers.
• While TAO managed to surpass resistance levels, it now encounters fresh obstacles that may have contributed to the prevailing bearish outlook on the token.
• The introduction of new trading pairs on Binance, including ETHFI, MEME, and PYTH, did not directly impact TAO's performance today.

02.06.2024 - TAO Crypto was down 12.1%

• TAO's bearish movement could be linked to the general market sentiment affecting cryptocurrencies today.
• Despite surpassing resistance, TAO may be encountering new challenges impacting its price negatively.
• The introduction of new trading pairs on Binance may have diverted investor focus from TAO, resulting in a decline in its value.
• The spotlight on the performance of AI altcoins could have attracted attention and investment away from TAO, contributing to its bearish movement.

01.06.2024 - TAO Crypto was up 6.0%

• TAO's bullish movement can be attributed to overcoming key resistance levels, signaling a positive sentiment among investors.
• The listing of new trading pairs on Binance, including ETHFI, MEME, and PYTH, may have brought more attention to the cryptocurrency market as a whole, contributing to TAO's upward momentum.
• The focus on AI altcoins as top performers in the market could have also influenced TAO's price surge, as investors seek out innovative projects with strong potential for growth.
• Despite facing new challenges, TAO's ability to navigate through them successfully has likely instilled confidence in traders, leading to the bullish market movement.

01.06.2024 - TAO Crypto was up 7.6%

• TAO experienced a strong bullish movement today, likely fueled by positive market sentiment and increased interest in alternative cryptocurrencies.
• The listing of new trading pairs on a popular exchange may have contributed to a general positive sentiment in the cryptocurrency market, benefiting TAO as well.
• The focus on AI altcoins in recent discussions could have also generated interest in TAO, as investors seek out innovative and promising projects in the crypto space.
• Overall, the combination of market dynamics, positive news flow, and investor interest in emerging altcoins likely propelled TAO's bullish movement today.

28.05.2024 - TAO Crypto was down 5.9%

• The bearish movement in TAO could be attributed to profit-taking by investors after a recent price surge.
• The listing of new trading pairs on a major exchange may have diverted attention and trading volume away from TAO, leading to a decline in its price.
• The market sentiment towards altcoins like TAO may have been influenced by broader macroeconomic factors or regulatory developments impacting the cryptocurrency space.

21.05.2024 - TAO Crypto was down 5.1%

• The bearish movement of TAO could be attributed to profit-taking by investors following a period of price surge.
• The market plunge in the cryptocurrency space, possibly triggered by external factors like the release of U.S. economic data, could have added selling pressure on TAO.
• While other DeFi tokens are speculated to surge post ETH ETF news, TAO might have faced a sell-off as investors diversified their portfolios.
• The overall sentiment in the market, influenced by profit-taking and external events, likely contributed to TAO's bearish movement despite potential positive developments in the DeFi sector.

19.05.2024 - TAO Crypto was up 10.1%

• TAO's bullish movement can be attributed to the overall positive sentiment in the cryptocurrency market today.
• The profit-taking surge in Toncoin (TON) may have led some investors to reallocate their funds into other cryptocurrencies like TAO, contributing to its bullish movement.
• The market plunge following the U.S. data release in the cryptocurrency space may have caused some investors to seek refuge in alternative assets like TAO, leading to increased buying pressure and pushing prices higher.
• The emergence of top AI altcoins gaining traction, including TAO, could have also fueled investor optimism and contributed to the bullish movement of the token.