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.
Bitcoin price 30-day chart. Source: Finbold
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.
More recently, renowned crypto trading expert Michaël van de Poppe projected that Bitcoin might test the area between $64,000 and $65,000 “before the markets are reversing back upwards due to the upcoming [Federal Open Market Committee (FOMC)] meeting & [Consumer Price Index (CPI)] data,” as per his X post on June 11.
Bitcoin price action analysis. Source: Michaël van de Poppe
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.
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