Although Bitcoin (BTC) has dropped back below the important psychological price level of $70,000, its supporters have retained strong optimism regarding its future price, and a popular artificial intelligence (AI) model has provided insights on when the maiden cryptocurrency could hit $100,000.
Indeed, Bitcoin has recorded declines in the past few days but has advanced over 60% since the year’s turn and has reached a new all-time high (ATH) in March, weeks before its latest halving event, and two months after the approval of multiple spot Bitcoin exchange-traded funds (ETFs) in the United States.
ChatGPT Bitcoin price prediction $100,000
In this context, the newest and most advanced OpenAI project ChatGPT, called ChatGPT-4o, has analyzed available online information and offered a forecast that the flagship decentralized finance (DeFi) asset could “achieve the $100,000 price mark by late 2024 to 2025.” Specifically:
“Given the combination of historical precedents, bullish technical indicators, supportive expert opinions, significant market developments, and positive sentiment, it is plausible to forecast that Bitcoin could reach $100,000 within the next 12 to 18 months, particularly as post-halving dynamics unfold and institutional inflows increase.”
Additionally, according to ChatGPT-4o, positive regulatory development and “various projections align with this viewpoint,” as well as taking into account the fact that Bitcoin had “skyrocketed 661% from its halving event in May 2020 to reach an all-time high of nearly $69,000 by November 2021.”
Bitcoin price analysis
For now, the largest asset in the crypto sector by market capitalization is changing hands at the price of $67,540, which represents a decline of 2.74% in the last 24 hours, as well as a 1.83% loss across the previous seven days, while gaining 10.71% over the past month, according to the recent charts.
Meanwhile, Bitcoin whales seem to be anticipating a pump in the asset’s price, having opened massive long positions at the $69,000 mark, according to Ki Young Ju, founder of crypto analysis platform CryptoQuant, signaling potential bullish sentiment, as Finbold reported on June 9.
All things considered, ChatGPT-4o’s predictions of Bitcoin hitting the price of $100,000 in the suggested period might come true. That said, one should take AI platforms’ insights with a grain of salt, complementing them with additional research, risk analysis, and keeping up with any relevant developments.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
