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Bitcoin (BTC) started the week positively. This positive start led to the formation of a price region above $67,000. This situation also triggered a rise in the rest of the cryptocurrency market. While all this was happening, artificial intelligence (AI) applications also presented a positive outlook for Bitcoin in the coming months. Following today’s price movement, Bitcoin strengthened its position above the crucial $66,000 support level and then surpassed the significant resistance at $67,000, renewing confidence among those who invest solely in cryptocurrencies.
BTC 2024 Prediction
One of the AI models, which reaches conclusions by utilizing BTC’s historical outlook, technical analysis (TA) indicators, chart patterns, and developments,
predicted that Bitcoin could rise to $97,264 by August 1, 2024, indicating a 44.89% increase from the current price level. More importantly, the same AI model suggested that BTC would be $105,518 within six months, while the 2025 prediction is currently $122,940.
GPT-4o, considering ongoing market conditions and historical outlook, provided a target range of $76,350 to $89,110 for Bitcoin’s price prediction for August 1, 2024.
The AI model named Claude 3 Opus gave an even more optimistic view. It predicted that Bitcoin’s price would settle in a range between $105,072 and $167,808 by August 2024.
The AI prediction was presented as follows:
Early 2024 saw significant inflows with the approval of spot Bitcoin ETFs, as BlackRock’s ETF accumulated over 16,000 BTC in the days following its launch. Continued institutional adoption could drive prices even higher.
Current BTC Price
As of the time of writing, Bitcoin is trading at $68,130, showing an increase of over 1% in the last 24 hours. This represents a 7% rise over the past 7 days and a 4.19% increase over the past month.
Meanwhile, renowned analyst Ali Martinez revealed that traders executed transactions worth 530,000 BTC at the $66,250 price level, emphasizing in a May 20 X post that this level could be a crucial support that could propel Bitcoin to new highs.
TradingShot analyst also shared his views, suggesting that Bitcoin could rise to $100,000 after July, based on the bullish sentiment observed following a significant correction in TA indicators at the beginning of May.
