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Former US President Donald Trump‘s stance on cryptocurrencies has undergone a significant shift since 2021. Initially skeptical, Trump now appears to embrace the cryptocurrency market. His release of his own NFTs and acceptance of donations in cryptocurrencies including Bitcoin (BTC) and meme coins like Jeo Boden (BODEN) confirm this transformation. This change in perspective aligns with the broader trend of the Republican Party embracing cryptocurrencies.
A Possible Trump Victory Could Drive Bitcoin to Between $80,000 and $90,000
Trump’s newfound support for cryptocurrency has sparked speculation about its potential impact on Bitcoin if he secures a second term as president. A leading artificial intelligence platform, OpenAI’s ChatGPT, was asked to analyze the possible effects of a Trump victory in 2024. ChatGPT suggested that a Republican win could trigger a rise in BTC.
The AI model pointed to Trump’s pro-cryptocurrency stance, the likelihood of deregulation under his administration, and a softer regulatory climate as factors contributing to a potential rise in Bitcoin’s price. Initially struggling to reconcile Trump’s evolving stance on cryptocurrency, ChatGPT eventually adjusted its analysis to account for recent developments.
ChatGPT predicted that in a Trump victory scenario, Bitcoin’s price could potentially reach between $80,000 and $90,000.
Also Shared a Downside Scenario
However, despite his pro-cryptocurrency rhetoric, ChatGPT warned of the possibility of continued regulatory uncertainty under Trump’s administration. Such uncertainty could erode investor confidence and lead to a pullback towards a lower price range estimated between $50,000 and $60,000 for BTC.
The AI model emphasized the tendency of politicians to not fully deliver on campaign promises, highlighting this as a contributing factor to potential downside expectations.
