In a recently published tweet, cryptocurrency analyst Miles Deutscher touched on the topic of AI and shared his predictions for how artificial intelligence will continue to expand, especially in the cryptocurrency space. He also cited key indicators that DOGE meme coin outperforms the overall AI crypto sector.
DOGE leaves all AI crypto behind, “big secret” about AI coin revealed
The analyst emphasized that he expects artificial intelligence and the products that utilize it to become one of the biggest bubbles in financial market history in the future. So far, it’s just the beginning, he tweeted, noting that Dogecoin’s market capitalization is larger than the entire market of AI cryptocurrencies combined.
While Deutscher predicted a financial bubble, he said the sector offered a “trillion-dollar opportunity.”
AI will be one of the biggest bubbles in financial history.
But it’s just the beginning.
Even $DOGE’s market cap is larger than the entire AI crypto sector.
This is a $1 trillion opportunity, but it’s still too early.
🧵: My Ultimate Cryptocurrency x AI Guide (+ Top Picks). 👇 — Miles Deutscher (@milesdeutscher) March 8, 2024
Additionally, he believes that AI Coin is a “great agent for major AI events and conferences” and expects it to remain so for the foreseeable future.
The analyst also revealed that he does not believe that all “AI cryptocurrencies” incorporate actual AI technology. Rather, AI here is just a buzzword to create a lot of hype around these coins.
For this reason, “AI Coin” is a great agency for major AI events and conferences, and will probably continue to be so in the near future.
However, this is the truth. Most AI coins are not actually AI. They are just using AI as a buzzword to create hype. — Miles Deutscher (@milesdeutscher) March 8, 2024
According to Miles Deutscher’s data, AI (which he considers the most disruptive technological achievement of this century) currently ranks only 20th in terms of sector size, and its overall value is equal to Dogecoin’s market capitalization. slightly lower than
Deutscher believes that AI will grow to a 5-0 top sector area within the next few years.
AI-based cryptocurrency fraud expands scope of damage
AI technology is making great advances every day, but it’s not just cryptocurrency developers who are taking advantage of it, but crypto fraudsters as well. There have been numerous cases where scammers have created deepfake videos featuring prominent leaders in the cryptocurrency space. These include Ripple CEO Brad Garlinghouse and Cardano blockchain founder Charles Hoskinson.
The resemblance of these videos to real people is striking, and Hoskinson believes that within the next few years, AI-generated deepfakes will become so sophisticated that it will be impossible to distinguish between fraudulent fakes and reality. He says it will happen.