Worldcoin price ploughs back nearly 35% of lost ground on speculation of GPT 5 launch

Worldcoin (WLD) price was part of the AI crypto coin crash on March 5 as markets crashed in the aftermath of sell orders triggered by Bitcoin (BTC) price recording a new all-time high. However, with a typical buy the rumor sell the event situation at play, the AI token is scaling a recovery.

Also Read: Worldcoin price dips 25% as WLD holders cash in on faded AI narrative

Worldcoin price recovers amid GPT 5 launch speculation

Worldcoin (WLD) price is up nearly 35% over the last three days, steered by two narratives. First, the Nvidia 2024 GTC Conference scheduled for between March 18 and 21, and secondly, growing speculation of a GPT 5 launch.

GPT 5 is a generative AI upgrade expected to be indistinguishable from a human. The project started in 2023, with Technology entrepreneur, and developer, Siqi Chen’s claiming that GPT-5 “will” achieve Artificial General Intelligence (AGI) by the end of 2023.

OpenAI filed a trademark application for GPT-5, advertising it as the successor of the widely acclaimed ChatGPT-3.5 and GPT-4.

As advertised, GPT 5 will bring with it a new era of AI advancement and revolutionize how human-technology interaction. The scope of the GPT-5 trademark application included:

• Downloadable computer programs and software related to language models,
• Artificial human speech and text production,
• Natural language processing, generation, understanding, and analysis

In addition, GPT-5 is also expected to thrive in machine-learning-based language and speech processing, translation services, predictive analytics, and building language models.

Recent reports indicate that GPT 5 could be hitting the market soon.  Nevertheless, some remain skeptical about the readiness of this model.

Worldcoin price outlook amid GPT 5 speculation

Worldcoin price has recovered all the ground covered during the March 5 crash, and then some, as part of a recovery rally. Standing 33% above the Tuesday lows of $5.60, the odds favor the upside as momentum is rising, as seen with the up-moving Relative Strength Index (RSI).

The volume indicator is also showing large histogram bars, a sign of a strong trend, which bodes well for the price. Increased buying pressure above current levels could see WLD price extend the gains to the $8.56 threshold. Flipping this blockade into support, confirmed by a candlestick close on the daily timeframe, world set the tone for the price to reclaim the $9.45 range high.

In a highly bullish case, the gains could see the Worldcoin price tag $10.00 psychological level, standing nearly 35% above current levels.

WLD/USDT 1-day chart

On the other hand, early profit-taking could see the Worldcoin price retract, slipping below the $7.00 support. An extended fall below $5.60 would create a lower low, confirming a trend reversal. 

Also Read: Coinbase says value of AI tokens may be overstated due to lack of demand drivers