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Bitcoin (BTC) has experienced significant growth following the news in the second half of October. Although it has traded above $35,000 during this period, it is currently below this price. Altcoins have generally followed Bitcoin and experienced a rise, but since the beginning of November, they have mostly shown a volatile movement.
Bitcoin 2024 Price Prediction
In the recent period where artificial intelligence has been making better price predictions, ChatGPT was consulted about the potential price level of Bitcoin in January 2024.
When asked about the price of BTC during the mentioned period, ChatGPT predicted that although it may not be very likely, the leading cryptocurrency could repeat the scenario it had in 2023 and achieve it again in the next two months.
AI emphasized factors that could support the rise, such as economic factors, the presence of an upward trend, and the upcoming Bitcoin Halving.
It was also noticeable that ChatGPT gave less emphasis on the possibility of a decline. When discussing the decline, ChatGPT mentioned the pressures created by countries and governments on cryptocurrencies, scandals involving Bitcoin or the crypto world in the past, and a general investor loss due to a potential economic downturn that could occur worldwide.
ChatGPT’s Three Scenarios
When asked to predict the prices that Bitcoin could reach on January 1, 2024, ChatGPT generated three possible scenarios. Additionally, another question was asked to determine the potentially most likely price considering the developments in the crypto market throughout 2023.
Interestingly, ChatGPT indicated a scenario that includes a stable situation and also a potential increase, stating that the price would be somewhere between $40,000 and $50,000.
ChatGPT expressed the belief that Bitcoin would not drop below $25,000 on January 1, providing confidence to investors. However, it did not see any possibility for the price to exceed $60,000 in the next two months.
At the time of writing, Bitcoin is trading at $34,723. This price represents a 0.75% increase in the last 24 hours. Additionally, it has performed well over the past two weeks.
