Bitcoin (BTC) is approaching its next halving, and many crypto traders and investors continue to wonder about the potential price direction as this event draws closer and eventually takes place. In this context, GPT-4 was consulted to provide insights on Bitcoin‘s price after the 2024 halving, taking into account the significance of the halving and historical price movements during previous halving events.
ChatGPT-4’s Bitcoin Commentary
ChatGPT-4 seems to have considered the aforementioned factors and past events in its predictions, and accordingly, it synthesized the current information. On February 26, it made a prediction about the potential price of Bitcoin following the April halving.
In the prediction made by ChatGPT-4, it was particularly noted that “looking at historical price movements, Bitcoin’s price generally experienced noticeable increases in the year following halving events” and cited the example of BTC rising from about $10 to $1,000 within a year after the 2012 halving.
On the other hand, AI revealed that Bitcoin’s price rose from approximately $600 to $20,000 in the year following the 2016 halving, suggesting that a similar price increase could occur again, potentially reaching $179,000 by August 2025.
Considering these trends, it’s possible that Bitcoin’s price could increase after the 2024 halving. A prediction based on historical price movements suggests Bitcoin could reach approximately $179,000 by August 2025.
Bitcoin Price Analysis
In addition to ChatGPT-4’s commentary, a closer look at BTC’s current price reveals that it has reached the level of $53,500 following an increase of over 3% in the last hour as of the time of writing. A monthly price review shows that BTC’s price has increased by over 28%, continuing to impact the rest of the market.
There have also been notable increases in Bitcoin’s overall volume and 24-hour trading volume. The overall volume surpassed $1.05 trillion with the latest rise, increasing by 3.68%. Additionally, the trading volume saw a 70% increase, exceeding $26 billion, due to intense investor interest.
Considering all these factors, Bitcoin may hold the potential for a significant price increase within the year of the next halving. Perhaps the price could indeed reach the $180,000 target indicated by ChatGPT-4.
