BTC - Bitcoin Other Major Coins Losing Sheen As 'Hot Money' Chasing AI FOMO? Here Is What This Analyst Says | Benzinga
The recent shift of investors towards artificial intelligence might dampen the returns from major cryptocurrencies such as Bitcoin and Ethereum, a recent report suggests.
What Happened: The stock market now regards every piece of AI news as bullish, and in light of the resulting FOMO, “crypto has lost its charm,” The Block reported quoting BIT Mining Chief Economist Youwei Yang.
“There is only a certain amount of hot money in the market and it is devoted to AI now, until crypto can breakout some convincing narrative or constructive advancement, in ...