Welcome to another edition of our Master Blockchain blog, where we delve into the latest developments in the world of cryptocurrencies and artificial intelligence. In this post, we will discuss the recent rebound in the crypto markets and the potential rise of open-source AI models that could challenge centralized cloud-based solutions by 2024.

Crypto Market Rebound:
After a brief dip earlier in the week, the crypto markets have experienced a notable rebound following the US Federal Reserve’s decision to keep interest rates unchanged at 5.5%. This has generated increased optimism in both the crypto and US stock markets, with predictions suggesting three rate cuts by 2024. As a result, the crypto market capitalization has grown by 5%, reaching an impressive $1.68 trillion. Bitcoin, the flagship cryptocurrency, is currently trading just below the $43,000 mark, while Ethereum has also seen significant gains, reaching $2,272.

Bitcoin’s Performance and Indicators:
Bitcoin has been the outstanding performer this year, with a remarkable 150% rally that has outpaced traditional assets. Some investors may have cognitive biases, like anchoring, leading them to believe that bitcoin is overvalued and expecting a price slide. However, several indicators contradict these biases and suggest that bitcoin could continue its upward trend.

The Puell Multiple, a measure of miners’ profitability, reveals that bitcoin is not in the red zone. The MVRV Z-Score demonstrates that bitcoin is not overvalued compared to its fair value. Additionally, the Mayer Multiple, which compares bitcoin’s market price to its 200-day moving average, suggests that there is still room for further rally. All these indicators indicate that bitcoin is not overvalued and could potentially continue its upward trajectory.

Open-Source AI Models vs. Centralized Cloud-Based Solutions:
In the realm of artificial intelligence models, centralized cloud-based solutions, such as Google-backed ChatGPT and OpenAI, currently lead the market in terms of performance. However, open-source competitors are rapidly catching up, with researchers suggesting that they could outperform centralized models by 2024.

The provided graph showcases the progress of open-source AI models since 2022, with some already surpassing private models. Notable open-source models such as Meta, Mistral, and certain Chinese models have embraced the open-source approach. In 2023, open-source AI models like Yi 34B, Falcon 180B, and Mixtral 8x7B demonstrated comparable performance to the market leaders. The aim of enhancing performance in open-source models is to democratize access to generative AI, making it more accessible and inclusive.

Seeking Professional Financial Advice:
As the popularity and potential of cryptocurrencies grow, it is essential to emphasize the importance of seeking professional financial advice. Even centralized AI models, like Gemini and ChatGPT-4, provided similar answers when asked about cryptocurrencies. Therefore, it is crucial to consult with experts who can provide comprehensive and tailored guidance in navigating the crypto market.

The crypto markets have bounced back, riding the wave of the US Federal Reserve’s announcement regarding interest rates. Bitcoin, in particular, has exhibited impressive performance, outperforming traditional assets. Various indicators suggest that bitcoin could continue its rally in 2024. Moreover, open-source AI models are fast catching up to centralized cloud-based solutions, with predictions indicating their potential to surpass them in performance by 2024. As we venture further into the blockchain era, it is crucial to stay informed and seek expert advice to maximize opportunities and mitigate risks.