Is Cortex (CTXC) buy opportunity after the price collapsed?

By: Stanko Iliev
Stanko Iliev
Stanko dedicates himself to providing investors with relevant information they can use to make investment decisions. He loves the… read more.
on Jan 26, 2022
  • CTXC has collapsed from its record highs
  • $0.20 represents current support
  • CTXC remains in a bear market

Cortex CTXC/USD has collapsed from $1.55 to $0.23 since December 03, and the current price stands at $0.29.

Technically looking, CTXC remains in a bear market, but the current price level represents good value for what you pay, and maybe now could be a good time to buy this cryptocurrency.

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A platform that supports Artificial Intelligence

Cortex is a decentralized blockchain platform that supports Artificial Intelligence (AI) models to be uploaded and executed on the distributed network.

The existing smart contract languages are limited to writing short programs, while Cortex adds AI algorithm support to smart contracts by expanding the underlying instruction set of smart contracts.

Cortex enables developers to monetize their Artificial Intelligence models on the blockchain by using the smart contract language Solidity.

Cortex also offers a rich array of tools for developers to write and integrate AI into smart contracts, which incentivizes the growing ecosystem of this project. The team of Cortex added:

Individual AI developers, not just big corporations, are incentivized to upload their AI models to the blockchain, and Dapp developers have access to choose from the best AI models in the world. The competition between AI model providers will naturally lead to the evolution of better and better AI models.

Many people still don’t know that it is possible to run Artificial Intelligence (AI) on the blockchain and the ultimate goal of Cortex is to become a better token that supports all AI models.

The Cortex project is based on Ethereum, but it expands the fundamentals and introduces unprecedented capabilities such as prediction, classification, and generation of AI models to the blockchain system.

Lots of important projects have already collaborated with Cortex, and the most popular ones include Yahoo Finance, Amazon, Cmet, and Poseidon Network.

To interact with this blockchain platform, you should use CTXC tokens that play an important role in the Cortex ecosystem. CTXC has a max supply of 299.79 million tokens, and you can buy it from exchanges or from wallets directly.

CTXC has collapsed from its record high above $1.5, but it has a very good risk/reward ratio currently, and investors in this cryptocurrency stand to gain a lot more for taking a comparatively smaller risk.

Technical analysis

CTXC has collapsed from its record high above $1.5, registered last month, and the current price stands at $0.29.

Data source: tradingview.com

CTXC remains in a bear market; still, if the price jumps above $0.4, it would be a “buy” signal, and the next target could be at $0.5.

Summary

Cortex is a very promising project that enables individual AI developers to monetize their Artificial Intelligence (AI) models on the blockchain. Before Cortex, there was no known way to execute on-chain machine learning models efficiently, while Cortex introduced unprecedented capabilities such as prediction, classification, and generation of AI models to the blockchain system.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. Capital.com, simple, easy to use and regulated. Register here >

*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.