why the f is this happening to ICP why are record numbers of developers heading across to the internet computer as we speak well I think it's happening for this one reason and this one reason only and it's icp's recent breakthroughs on the decentralization of AI well because the economic potential for AI into the future is looking like $25.6 trillion and if ICP can just take a fraction of this market then you're going to see explosive growth for the internet computer and the ICP Tok so let's dive into this deeper and understand exactly why ICP is looking more bullish than ever hit the like button let's get into today's video now first things first I want to talk about what's happened across the broader Market since around March the 11th Bitcoin has been kind of looking a bit shaky and that's meant that the rest of the market has started to cool off as well however in the last couple of weeks we can see Bitcoin recovering to the upside and it's very notable which coins have been going with it some of the more technical AI based projects have started to show strength like AOS here which is up around 45% since Bitcoin saw that recent dip and since the recent dip ICP is sat up around 72% so why is AI the focus of this bull market well I've already touched on it from a recent report from McKenzie they've identified that the potential AI Market into the future is going to be worth between 17.1 and $25.6 trillion bearing in mind the entire market cap of crypto right now there somewhere around2 trillion and the anticipated spend on AI into the future towards 2030 is looking like 1.7 trillion and we're going through a period of making history with regards to technological advancement with a big portion of that being partly blockchain technology and artificial intelligence and since bull markets are mostly powered by speculation it's pretty evident that the AI projects with huge future plans that are driving development all the time will likely see massive success during this bull market and therefore developers who are Tred to build decentralized applications are moving across to the internet computer in drov and this can be seen on the developer report.com from Electric Capital where you can see the number of developers heading across the internet computer is growing significantly faster than it is on any other blockchain out there that even includes the likes of ton and salana and this is an extremely positive metric to look at because it shows adoption is taking place so if you've ever looked at a video of how ICP works you'll understand it's basically trying to replace the Legacy internet by building directly onto the ICP protocol using the internet computer which is build up of these things called canisters which are effectively smart contracts on steroids a term used by Dominick Williams the CEO of ICP to describe these smart contracts but you already knew that didn't you but it's this major piece of news that's going to have a huge knock on effect in my opinion to the potential that ICP has and the potential price impact that we're going to see into the ICP token icp's new road map aims to transform decentralized Ai and a blockchain interoperability now you probably watched this video towards the end of last year from Dominic Williams and what he basically shows in this video is how the AI built directly onto the blockchain is able to identify an image and you're like yeah that's no big deal you know we're way ahead of that in technological advancement right now you're absolutely right the web 2 solutions for large language models Etc like chat GPT and my old friend Claude and Miles Ahead but that's not so important as to why putting this onto the blockchain rather than through centralized Authority is such a big deal and we'll come to that in just a moment but now we've seen even further development showing that the internet computer team are moving aggressively through their AI development in this recent video you can see Dominic Williams showing how facial recognition is now working using their platform on the blockchain so why is this all such a big deal and so incredibly important well because of a number of things you can find out a lot more information about this on the ICP website run your AI models on the blockchain well if you've been in crypto for 5 minutes you probably worked out what the benefits to blockchain technology are over centralized Authority but you may have not thought about it in terms of large language models of which like chat GPT and Claude is a large language model and other AI processes that could potentially get built into future Industries like education or healthc care or legal and it means that AI can run entirely on chain to benefit from the security resilience and power of the ICB blockchain if we take out the bravado of the power of the ICB blockchain and we rely on the security and resilience part then it might start to make a little bit more sense not only that but when I go to chat TPT and I ask a question about about how to do this or how to do that I have no idea how that came to providing me with an answer so for example one future use case of these particular models if you go to a hospital in the future and you're like I've got these symptoms can you tell me what's wrong with me and a language model that's basically hidden behind a black box where you can't really see how it's come to the conclusion of what's actually wrong with you could provide you of any information it wants not only that but these large language models on web too are also vulnerable to attacks and tampering where someone could go in and say actually well these types of symptoms actually mean you've got this and this could be wrong meaning you get the wrong medication Etc whereas a large language model built onto a transparent blockchain would have the ability for a medical professional to go back and see the workings behind how that answer came about now this is incredibly important it means that in the future these large language models will become transparent we'll be able to see how they got their information we'll know that they're not being tampered with by other Bad actors Etc because it will all be stored on the blockchain but here's the problem right now the development level of these AIS on ICP is pretty subpar if you simply compare it against like chat GPT or another large language model that's been around for a little bit more time because facial recognition has been around for quite some time if you've got an iPhone or something like that you know it's been around for at least a few years the same with image recognition I mean like being able to decide whether an image is a cat rather than a lion for example but if you go and watch more videos from definity and Dominick Williams he keeps talking about this thing called wasm and you're like you've completely lost me dominate come back to reality clearly much smarter than I am and what wasm effectively is is a web assembly and web assembly is like a set of instructions for the computer like if this happens then do that if that happens then do this which of course is very limited on basic levels however so far the development is all taking part on the 32bit wasm but soon going to get upgraded to 64bit wasm now guys I'm not going to sit here and pretend to you that I know what the f that means okay I don't know any more than you but all I know is what I've been told that soon development onto the next level means that they're going to be able to do more complex things like build large language models obviously 64-bit big and 32bit which means that you can do more complex stuff now I agree don't necessarily just take company's words for what they're doing and have Blind Faith in what's going to happen into the future because of course it is speculative but remember speculation can still be very bullish particularly in Bull markets and particularly with the fact that definity are very transparent in kind of all the things they're doing and you can watch these incredibly technical but pretty interesting videos If you so wish to find out more and they've been pretty good at saying what they're going to go and do next and they're doing it and hackernoon.com which is a website for developers goes into the road map of ICP and all the things that ICP are working on in terms of hitting certain Milestones now if we look down the road to like the long-term goals and what this might look like AI smart contracts verifying video-based kyc okay so what might that be well a lot of these things you've already done right you've gone and used binance and cin and whatever exchange and put your facial recognition in to be able to use that particular application but this at the moment could be limited natural language interactions with smart contracts via large language models and Ai and pre-trained AI is traded as nfts what might that mean well let's say like an AI agent is trained to do something like handle the checkouts on your online store well let's say that's kind of like white labeled and you can plug it into your store and then you can have that AI agent working for you for like a one-time payment rather than having to have a physical person sit on that store and handle all those issues and what's the most important thing about this being on the blockchain well the security aspect because you don't want to take an AI agent that is not on the blockchain and shove it into your store because then you don't really know how the AI is making its decisions you don't know whether or not someone's going to come in and tamper with that Ai and go and change things on your website Etc you got something that is transparent and unable to be tampered with now one question I did have that I had to go and use another AI tool in fact I use chat TPT today I'm sorry Claude cuz I know I usually use you is this I was like well if it's not temperable and you can't go back and alter things because it's on the blockchain how do you then update the information that is on the large language model apparently this is also very easily done because you can feed in oracles to this network and basically the blockchain can continue to learn from these decentralized oracles so rather than just being fed one piece of information from one person it can take the information from lots a simple thing might be if you're watching a football game between the blue team and the red teams asking someone in the stand what's the score and they could say it's 1 n and then you could just rely on this one person but it would probably be better for you to rely on the information provided by six or seven different Oracles in the stand who were all like well actually it's one nil to the red team and then it takes the average of all of these and that's another benefit of kind of decentralization it means that no one Authority has the ability to force information into it it's taking information from a variety of different inputs and then coming up with the best solution and answer and that's something going forward that is incredibly important now another thing that I think has got all these developers heading over and drummed up full of excitement is is the fact that large language models Etc are extremely demanding they can be very slow they can be very difficult to build and I believe to train a large language model can cost millions of dollars because of how demanding it is on various networks but because of the way ICP works and the fact that it runs at internet speed this I think is taken away which adds to scalability drives down costs and and overall makes it a much easier platform for the development of AI tools for developers so what are we thinking with regards to where ICP can go into the Future Okay so there's a lot more detail that can be added on to what I've talked about in this video but obviously I don't want this video to go on forever cuz you're busy right you don't yet have an AI doing a job for you and you have to go to work I understand that so basically what I think is going to see the most value in this crypto Market in the projects that I think will'll see the biggest growth will be the ones that are actually solving real world issues where there's like a huge surge in demand for a particular thing and if this thing can go in and solve that demand then we're going to have potential value at the end of it or at least that's what can convince us crypto Muggles to go and invest in it anyway so we know in traditional web 2 development there is significant scaling issues with AI because it's incredibly expensive incredibly difficult there isn't enough serice space the Legacy Internet isn't designed well for these particular platforms so that's one big tick internet computer is specifically designed to be able to cope with these kind of developments what about now where's the development going well coming across to this which is from Ark invest you can see there is a massive surge right now in particular Technologies and industries most notably here artificial intelligence which is taking the biggest portion of this there are obviously other ones worth paying attention to but also blockchain technology which we obviously care about cuz we're here right now watching crypto videos and therefore if you like watching crypto videos then do me a favor help me out okay if you like watching my videos which hopefully you do hit the like button if you don't like it hit the don't like button it still drives the algorithm it still gets me more views and it still makes me feel good so yes this is potentially going to be a disruptive technology into the future but how long does it take to move from the 32-bit WM to the 64-bit wasm and what does this really mean for us how long is it going to be before ICP is making billions if not trillions of dollars who the f knows but we're in a speculative market we've seen other very speculative assets do very well in Bull markets because not many are being actively used but the fact that developers are flooding to a platform like this tells me that there's a very good chance that this will be getting used in the future and that makes it something that other people other than me might want to invest in as well well so what other information can we look at to understand whether or not we want to invest in ICP or not well we can come across to token terminal.com we can look at this earnings PF ratio now what's a PF ratio it basically means how much money is this company making versus how much is it worth well because it's crypto and most projects are massively overvalued you can see it's worth $4.6 billion which is a lot of money considering on a monthly basis it's making around $3.3 million notably though that is up 84.7% in the last 30 days and that's actually quite a positive thing so while yes the valuation of ICP compared to the actual money it's bringing in wouldn't hold up in a web two environment but this is crypto remember we were in a speculation bubble where people are anticipating the market being worth trillions of dollars down the line therefore in a bull market all logic goes out the window but then these developments are taking place in front of us so even if it does take multiple years before they get to the level which you can put a large language model directly onto the blockchain that's gaining millions and millions of users then it doesn't really matter because we're still seeing a move in the right direction in terms of development we're still seeing a surge in developer activity building decentralized applications onto a project and we're still seeing big developments going towards building a community within crypto and looking into this chart it's all making pretty good sense so during the dark gloomy days of crypto winter like 2023 when I was making videos about ICP saying that it was pretty undervalued I didn't know quite how undervalued it was because most of these developments that have been happening within the AI sector have been quite recent we talked about IP eventually getting out that winter it then had a very significant breakout and it's this type of breakout that has me very eager to pay attention to this coin because of the recent pullbacks what we're looking for is coins that had very strong growth phases from an accumulation particularly if we're looking at coins that were basically from the last bull market last bull market coins had very strong rallies and then most of them pretty much recently with Bitcoin pulling back have seen significant pullback this is merely the next phase of any ball Market okay we move from bare Market into accumulation into a disbelief Zone an area where people are kind of some of them like this is going to the Moon some of them are like I kind of bought it then I sold because it went down I panicked and then we move into what is next which is the bull market phase now from this particular phase of disbelief we move into bull market phase and because recently we've seen it pick up in price from this particular dip it makes it pretty evident that this is going to perform strongly when that AI push goes well through this year okay so when the utility altcoins get running once more which they will because this is a bull market and those coins will get excitement back into their ecosystems I promise you that then we can anticipate that ICP will run into this bull market now I want to come in and talk about something I talked about it on a Casper video yesterday and it's incredibly important to knowe ICP has one of those communities you know the type like the xrp type kind of Cults now don't get offended Ed by this it's great that you are so supportive of your digital coin that you can't really hold or see your intangible asset you know you're married to these coins you're in love with them you you know where they can potentially go in the future you think that they're going to be epic and I don't really feel like that about any coins but it's important to understand that particular coins that have gathered this community power will go across to YouTube and then you will see that everyone's competing for your views by telling you even more ludicrous price predictions time and time again not quite as ludicrous perhaps as the Casper price predictions but almost up there but what they fail to realize is that ICP is a $4.6 billion market cap coin right now and that's pretty big considering there are a lot of good projects in crypto there's a lot of people who are going to enter into the space who want to invest but they've also got a lot of different projects they can invest in it's not the only AI project out there and in fact it's not necessarily 100% purely AI like if you go down the fetch AI route or like the tal bza or whatever whether you think this is better or not don't get blinded by your own confirmation bias a $4.6 billion market cap coin does have the potential in the coming 5 to 6 years and I think to see maybe into the hundreds of billions if not maybe up towards trillion dollar market cap sort of status but I'm talking 2030 and there's going to be a bull market and a bare Market in between that that means that this coin ICP as well as any other coin will go up and then it will come down and you don't want to hold through that up and then through the down you want to hold to the up get out and then maybe get into a re-entry somewhere lower down after you've had a break from crypto and therefore we can go and speculate on AI projects that have already gained a bigger adoption than perhaps ICP one of which is open AI which according to google was valued to 80 billion back in February of this year perhaps it's worth a little bit more now let's say it's worth $85 to 90 billion so if ICP goes and catches open AI what's the valuation going to be well do a simple bit of maths remember 4.6 billion let's just round it down to 4 billion cuz I'm not that smart to do the math and that means that ICP has a 20x potential to reach the same market cap as open Ai and I think that during this bull market that should be the absolute upper echelons of any expectation that you're looking at and that's looking at a 20x I think to go beyond a 20x you're almost going down that insane route of I've drunk the Kool-Aid I'm an xrp hero forever or as someone put on my video yesterday about Casper all casparian unite to bring down this YouTuber which was one of my favorites you got to keep a little bit of reality grasped in your hand so ICP to do a 20x I think is ambitious and if we look at key levels to pay attention to here we' got one sat up around $86 from current price valuation then that would be moving up sort of 7 to 8X I think that there is a possibility to go beyond that if the entire Market starts to explode and really get very very exciting if we kind of move towards a mainstream this isn't quite a bubble but the bubble will happen towards 2030 phase then I think we're going to see maybe push Beyond 10 maybe even towards a 15x for ICP which would still be incredible maybe I'm undershooting it I think in terms of entries you can see it's come back and had a really perfect retest of this accumulation zone now starting to show some strength having a nice little bit of a pull back into this Zone here anywhere around 10 bucks or less I still think is good value if it comes down lower which there's a good chance it does if Bitcoin has a little bit more cooling I think there's a chance that it bounces around in this Zone if it gets down towards these levels again at 6.5 I think in my own personal opinion it's a steal obviously not Financial advice go away and do your own research blah blah blah I don't know if it's actually going to get down there I probably would anticipate that it's not but up to you hopefully you found this video useful okay so ICP looking pretty good right now some exciting things to come if you want to continue to learn more about projects like ICB and as well discuss them with other people and see other future more realistic price predictions for different tokens as well as different coins and trading setups that I'm getting into then make sure you head across to the Inner Circle which is linked down below it's $19.99 per month every day there's trading signals provided by an expert team of Traders I also talk about different cryptos that I'm buying at any given point I also update my community with videos like this before I go and send those videos live across YouTube so if you want to get the gist of the coins I'm going to talk about before I actually talk about them on YouTube they us to be in the Inner Circle Discord you can also gain access to various pre-sales which are not open to the public you can get in much earlier at much lower valuations then they go live on the open market app there's a group 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