FET, Fetch AI price prediction: where next for the AI-driven coin?

FET, the fetch.ai native cryptocurrency, continues to drop away from it's all time high reached in September slipping another 9% today (13 December) 

It is now below $0.5, a level last seen in mid August could this be a buying opportunity? Could the price rediscover its mojo and head north again? 

Volatility on cryptocurrency markets had been increasing ahead of the launch of the first bitcoin exchange traded fund (ETF). Some alternatives to bitcoin (BTC), known as altcoins, also climbed to new highs, while others have been sold off. FET is, despite recent losses, still some 900% up on its 2021 opening. 

So what is fetch.ai(FET)? What news about the FET cryptocurrency influenced the price action? 

In this article, we look at  the latest cryptocurrency protocol developments and the latest price predictions that can help you decide whether to buy  FET Coin or not.

Fetch.ai combines artificial intelligence and blockchain technology.

The technology has applications in financial services to optimise trading, in reconfiguring smart public transport and energy networks, and in restructuring the gig economy. 

The FET token, which launched on Binance (the platform banned in the UK earlier this year) in March 2019, is the native cryptocurrency used to “find, create, deploy and train autonomous economic agents and is essential for smart contracts, oracles and the transactions needed to deliver the new digital economy.” 

According to the company, the fetch.ai mainnet, which went live in January 2020, “supports a variety of services, such as staking, governance and identity that support deployment of agent applications. The blockchain is based on the CosmosSDK, which enables token interoperability with many other chains via the interblockchain communication (IBC) protocol. This means that agentbased services can be deployed on other networks such as Ethereum, Cosmos and Binance Smart Chain.

FET price rises as fetch.ai usage increases

FET prices fell from an entry level of $0.4045 to a low of $0.0323 through September 2019. It surged to $0.0725 in December 2019, but reached an all-time low of $0.0083 on  March 13, 2020 as financial markets crashed overall. ... FET rose to $0.1641 in August 2020 and then fell to $0.0360 in December. 

The price of FET started rising in January of this year and peaked at $0.8785 on March 31st. Although prices of other cryptocurrencies continued to rise in April and May, they have since declined. 

The price bottomed out at $0.1605 on June 22 and has since rebounded to  a new all-time high of $1.1900 on September 8. After dropping below $1 on September 16 and returning to $1.0200, the token has since traded between $0.6000 and $0.9000, but has fallen to $0.488 at the time of writing (December 13). 

Fetch.ai has announced several partnerships in recent months. FET was listed on Coinbase Pro on July 26th. On August 5, developers announced that German engineering  giant Bosch will use machine learning algorithms on the fetch.ai collaborative learning testnet to identify potential hardware failures. 

And on 6 August, Fetch.ai joined with OpenDAO and OCP to enable holders of FET tokens on the Binance Smart Chain to use them for staking, in exchange for OmniC tokens, borrowing BUSD and other tokens using FET as collateral, and minting the USDO stablecoin. On 28 September, Fetch.ai announced a research and development partnership with fintech platform Algbra, to bring DeFi services to underserved minority communities. 

Fetch.ai has also expanded into nonfungible tokens (NFTs), launching its Colearn Paint NFT platform on 18 August. The platform enables groups of creators to use machine learning to automatically generate NFTs. In the first round of artwork creation, 100 creators bid in an auction to take part in the process. The winners then input a random pattern and choose from preselected, AIgenerated artworks, then create the NFTs for sale. 

On September 15th, fetch.ai moved its staking program from Ethereum to mainnet and migrated FETs to its own ledger, which users can access using a browser extension wallet. This move will allow FET Coin holders  to enjoy higher reward rates, lower transaction fees and a more responsive interface. 

Due to technical issues, there was a weekly delay in re-opening the Token Bridge with a new network version on September 29th. A browser-based wallet will be included in the Token Bridge on October 7th, allowing holders to convert their FETs directly into ERC20 tokens without an account. Users who have staked FET tokens from October 20th to December 20th will receive MOBIX tokens as a reward through staking. 

In November, Fetch.ai partnered with  industrial blockchain solutions specialist Datarella to create a marketplace for “solutions that will accelerate technological innovation in micromobility services.” Called MOBIX Micromobility, the initiative aims to reduce urban congestion by encouraging city dwellers to use micromobility services such as scooters and bicycles. 

On  December 7th, Fetch.ai announced a partnership with  food service company LiquidChefs to provide sustainable  supply chain services powered by artificial intelligence and increase supply chain transparency  using autonomous economic agents. 

The next day, he announced that he had partnered with Immortals, a professional esports organization, to expand the penetration of cryptocurrencies in the field. The couple will be running an in-game campaign called Team Fetch.ai for a year. What will the future price of the FET cryptocurrency be as the use of the fetch.ai network increases?

FET Coin Price Prediction: Can the Fetch.ai Token Hit Highs?

Short-term technical analysis by Investing.com showed that at the time of writing (December 13) the coin was trading at $0.488, showing a strong sell with six  sell signals and one hold signal. The price ranged between $0.49 and $0.47 and resistance was between $0.51 and $0.53. 

A long-term price forecast from fetch.ai on prediction  site Wallet Investor suggests that the average price could start  at $0.597 in 2022 and reach $1.244 by the end of 2022. He predicts that FETs will trade above $2 by 2024 and rise from $4,444 to $2.54 by the end of the year. The FET DigitalCoin cryptocurrency price forecast uses historical data to predict that the price will average $0.82 in 2022,  $1.45 in 2025, $2.16 in 2028, and  peak at $2.4. 

According to AI-powered PricePrediction, fetch.ai predicts that the average price will increase to $0.76 in 2022,  $2.21 in 2025 and  $15.45 in 2030. It is important to keep in mind that the cryptocurrency market is highly volatile, making it difficult to accurately predict the price of a coin after a few hours, and much more difficult to estimate in the long run. 

Therefore, analysts may be wrong in their predictions. It is always advisable to do your own research and consider the latest market trends, news, technical and fundamental analysis, and expert opinions before making any investment decisions. And don't invest more than you can lose.