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Bitcoin (BTC) halving, which occurs approximately every four years (210,000 blocks), is eagerly anticipated by Bitcoin investors and has always triggered bullish runs in terms of price.
Analyst’s Bitcoin Price Prediction
Bitcoin Archive, a prominent cryptocurrency analyst, has made an incredible price prediction that Bitcoin will surpass $220,000 within the next 18 months. This prediction is based on the six-fold increase in price observed after the last halving, which resulted in Bitcoin reaching $36,458 after a year of the previous price drop.
It is worth noting that the six-fold price increase after the previous halving was attributed to the halving event. This may strengthen the belief among investors that considering the price that emerged on November 21st could lead to inaccurate predictions. The price of Bitcoin is highly volatile and can change based on events that may occur in the coming months, which can directly impact this analysis.
Another interesting observation is how the upward movement after each previous halving has decreased relative to the previous one. While there was a 94-fold price increase in the 2012 halving, the halving in 2016 resulted in a three-fold lower price increase, only about one-third of the previous one.
Especially in the last two halving events, the decrease in price change has been even higher, resulting in a five-fold weaker price increase.
ChatGPT-4’s Price Prediction
In addition to all of this, ChatGPT-4 provided an AI response to the question directed at it and made a price prediction for the next 12 months after the 2024 halving. AI examined all the Halving events that have occurred and calculated the decrease factor, but it couldn’t be reliably modeled to follow the next factor with the current information.
Following the question directed at it, ChatGPT-4 made the following statement:
Because these two rates are not consistent, there is no clear linear or simple exponential model. However, if we want to apply the newer rate to predict the increase after the 2024 halving, we can use the most recent decrease rate.
Despite all this, ChatGPT-4 made a price prediction stating that Bitcoin could increase by 1.2 times after the 2024 halving.
