FETUSDT Price Prediction 2023 by Reddit and Twitter Sentiments

FETUSDT Price Prediction 2023 by Reddit and Twitter Sentiments

Fetch.ai is an open-source blockchain platform that aims to provide a decentralized infrastructure for building and deploying autonomous economic agents. These agents are software programs that can perform tasks, such as buying and selling goods and services, on behalf of their owners. The Fetch.ai blockchain is based on a modified version of the Ethereum protocol, and it uses a unique consensus mechanism called the "Swirlds Hashgraph" to validate transactions. The platform also includes a built-in token called FET, which is used to pay for transactions and other services on the network.

Swirlds Hashgraph is a distributed ledger technology (DLT) and consensus mechanism developed by the company Swirlds. It is a type of directed acyclic graph (DAG) that is used to record and validate transactions in a decentralized network.

Unlike traditional blockchain systems, which rely on a single chain of blocks to record transactions, Hashgraph uses a network of nodes that communicate with each other to reach consensus on the order of transactions. This process is called "gossip about gossip" and it allows Hashgraph to achieve high-throughput and low-latency transactions.

Hashgraph also uses a unique consensus algorithm called the "virtual voting" algorithm, which allows nodes to reach consensus on the order of transactions without the need for mining or other energy-intensive processes.

Fetch.ai is one of the projects that use Swirlds Hashgraph as its consensus mechanism. The platform uses a modified version of the Ethereum protocol, and it aims to provide a decentralized infrastructure for building and deploying autonomous economic agents.

FETUSDT Prediction for 2023

I have been avoiding checking the longer-term weekly charts for some time due to the current market situation, feeling like the market is still in a downward trend. However, I realized that this is the typical feeling before the market changes direction. I remembered feeling the same way when Bitcoin reached around $4000 in the past. When I looked at the weekly chart, I noticed that only two buy signals had been generated and many common buy indicators were lighting up at the same time. This happened previously on March 9, 2020, and from that point, the price went up to around $1.2, which was roughly an 11000% increase. I took this as a reference point and also considered that the supply of FET has increased by six times in the last couple of years. Based on this, I estimated that during the next bull run, FET could potentially see a 2000% increase in value.

FEDUSDT Price Prediction for 2023