CHATGPT-4.O GIVES BITCOIN PRICE PREDICTION(2024)
20 May 2024
This week, OpenAI released its new model, ChatGPT-4o, and all crypto investors are buzzing. Such a projection could be the most impressive, with one of their more aggressive predictions regarding how high Bitcoin may head by 2024.
Bitcoin Price Surges After Bullish Move
Bitcoin Has Begun A Bullish Trend Back After Some Volatility The gap for the world’s largest cryptocurrency is $66,360, up about 10% over five days.
On the daily chart, Bitcoin is back above its 50-day exponential moving average (EMA), which has been a fundamental level for the short-term trend. Additionally, it is approaching a resistance level of $67,200, which, if breached, could lead to further upside.
Several factors call for this bullish sentiment to continue. Spot trading volumes have exceeded the $30 billion level in 24 hours, and open interest on bitcoin futures has reached over $32.5 billion, suggesting an increased focus from institutional traders. In addition, the Crypto Fear & Greed Index has been restored to 74, at a level not seen since last month. Bitcoin broke out after weeks of sideways action, moving for the second leg up.
ChatGPT-4. TranslationO Predicts Bitcoin May Reach $100KBy 2024
ChatGPT-4o has forecast that Bitcoin can reach $100,000 by the end of 202 (Android). The model points to Bitcoin breaking above the 50-day EMA as one of its reasons for such a bullish outlook, claiming that this bull can offer sustained buying pressure.
The model also proves a significant jump in institutional involvement, which means that the big-time players could be moving into place for another bull run. ChatGPT-4o also points to favorable macro-fundamentals, including a halving-induced supply shock for Bitcoin and prospective regulatory clarity pushing the price upwards.
That figure is high—$100,000 sounds extreme—but according to ChatGPT-4o’s analysis, this really could happen.
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