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PlanB Says Bitcoin Bull Market at New Crossroads Following Deep Correction – Here’s His Outlook

Widely followed quant analyst PlanB says Bitcoin’s ( BTC ) latest correction is now raising questions as to whether its bull cycle is on the verge of ending. In a new strategy session, PlanB says that while on-chain data suggests Bitcoin remains in a bull cycle, a lack of new all-time highs since January may indicate a bear market is starting to form. “Some questions about the Bitcoin market cycle chart. It is still measuring ‘bull market’ (red) in on-chain data. But as I explain in today’s video, we are at a crossroads.” Source: PlanB/X The analyst says there remains the potential of a V-shaped recovery after Bitcoin’s correction that tapped about $78,000 last week. “In bull markets, we can have multiple dips that are 20% or even 30% minus. However, it was still an unexpected dip. I expected more all-time highs after January’s all-time high and I expected February to be an all-time high as well, above $102,000. So we’re really at the crossroads right now. Either we’ll have a red hot bull market, a continuation of the bull market, or we enter the distribution phase into a bear phase. So what will it be? I don’t know. That’s a big question. Was this the top and is this the start of the bear market, or will we see a V-shape recovery and more bull market action?” Source: PlanB/X Based on historic precedence, the analyst says Bitcoin is likely to rally from current prices and print new all-time highs. “Yes, it has been at this crossroads each and every halving cycle. In all cycles the market has chosen bull/FOMO (fear of missing out) from here, but we have had only four cycles, not really enough to say something statistically sound. Fingers crossed for this fifth cycle.” Bitcoin is trading for $84,377 at time of writing, down 6.5% in the last 24 hours. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post PlanB Says Bitcoin Bull Market at New Crossroads Following Deep Correction – Here’s His Outlook appeared first on The Daily Hodl . Decrypt

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Exclusive: OpenAI’s $50M Grant Ignites Academic AI Research Revolution

In a bold move to propel the future of artificial intelligence, OpenAI has launched a game-changing $50 million grant program, NextGenAI, specifically designed to empower academic research. This initiative promises to inject vital resources into top universities, fostering groundbreaking discoveries and nurturing the next generation of AI pioneers. For the crypto-savvy audience, this surge in AI development signals potentially transformative impacts on blockchain technology and decentralized applications. Let’s delve into how OpenAI Grants are set to reshape the landscape of AI research funding . What is the NextGenAI Program and Why Does it Matter? The NextGenAI Program is not just another grant; it’s a strategic consortium spearheaded by OpenAI, uniting 15 prestigious academic institutions including Harvard, MIT, and the University of Oxford. This initiative is structured around three core pillars: Substantial Financial Grants: $50 million in research grants will directly fund innovative AI projects within universities. Compute Power: Access to OpenAI’s cutting-edge computational resources, crucial for complex AI model training and experimentation. API Access: Seamless integration with OpenAI’s advanced AI APIs, allowing researchers to leverage state-of-the-art tools in their work. OpenAI emphasizes that NextGenAI Program is about more than just funding. It’s about cultivating a future-ready workforce and accelerating the pace of AI innovation. As they stated in their blog post, this initiative is designed to support researchers seeking cures, scholars uncovering insights, and students mastering AI for tomorrow’s challenges. Boosting Academic AI Research: Who Benefits? The beneficiaries of these OpenAI Grants are diverse, encompassing: Students: Providing opportunities to engage in cutting-edge AI research, enhancing their skills and career prospects in a rapidly evolving field. Educators: Empowering faculty to integrate advanced AI tools and research into their curricula, enriching the learning experience. Researchers: Offering crucial financial and computational resources to conduct ambitious AI projects that might otherwise be constrained by funding limitations. This injection of resources is particularly timely. With recent reports of potential setbacks in government-led AI research funding within the U.S., NextGenAI steps in to potentially bridge critical gaps and ensure the continued progress of vital AI work. Navigating the Nuances: Is OpenAI a Neutral Player? While the NextGenAI Program is undoubtedly a significant boost for academic AI research , it’s essential to consider OpenAI’s position in the AI ecosystem. As a leading AI company, OpenAI naturally benefits from wider adoption of its technologies. The program could be viewed as a strategic move to: Aspect Potential Benefit for OpenAI Ecosystem Expansion Encourages researchers and students to become deeply familiar with OpenAI’s tools and platforms. Talent Pipeline Cultivates a pool of AI talent proficient in OpenAI technologies, potentially leading to future hires or collaborations. Market Influence Positions OpenAI as a key enabler of academic AI advancement, strengthening its industry leadership. This isn’t inherently negative, but it’s a factor to consider. While University AI Funding from diverse sources is ideal, OpenAI’s initiative offers substantial and immediate support at a critical juncture. Researchers should remain mindful of the broader AI landscape, including open-source alternatives, to ensure a balanced approach to AI development. Actionable Insights: What Does This Mean for the Future of AI and Crypto? The launch of NextGenAI has several key implications: Accelerated AI Innovation: Increased funding and resources will likely lead to faster breakthroughs in various AI fields. Talent Development: The program will nurture a new generation of AI experts, crucial for the continued growth of the AI industry. Cross-Disciplinary Impact: Advancements in AI can have profound effects on other sectors, including cryptocurrency and blockchain, potentially leading to more sophisticated and secure decentralized technologies. For the cryptocurrency world, advancements in AI could mean enhanced security protocols for blockchains, more efficient cryptocurrency trading algorithms, and innovative decentralized AI applications. The synergy between AI and blockchain is a space ripe with potential, and initiatives like NextGenAI can act as a catalyst for this convergence. Conclusion: A Powerful Leap Forward for AI Research OpenAI’s $50 million NextGenAI Program is a momentous step towards bolstering academic AI research . By providing significant AI research funding , computational resources, and API access to top universities, OpenAI is investing in the very foundation of future AI innovation. While it’s important to acknowledge OpenAI’s strategic interests, the immediate impact of this initiative on accelerating research and nurturing talent is undeniable. This program promises to be a significant force in shaping the trajectory of AI, with ripple effects extending across industries, including the dynamic world of cryptocurrency. To learn more about the latest AI market trends, explore our articles on key developments shaping AI features and institutional adoption. Decrypt