Bitcoin

Generative artificial intelligence (<a href="https://finbold.com/topic/artificial-intelligence/" rel="noopener noreferrer nofollow">AI</a>) sensation <a href="https://finbold.com/we-asked-chatgpt-what-will-be-bitcoin-price-in-2030-heres-what-it-said/" rel="noopener noreferrer nofollow">ChatGPT</a> has garnered recognition for its versatile capabilities in accurately tackling various tasks. Among many other things, this powerful tool also has the potential to be utilized in the field of trading by providing insights into potential price movements for diverse assets within the market.Having said that, <a href="https://finbold.com/" rel="noopener noreferrer nofollow">Finbold</a> asked ChatGPT to share its predictions for Bitcoin’s (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) potential price by the end of 2023, based on metrics such as technical analysis (<a href="https://finbold.com/guide/technical-analysis/" rel="noopener noreferrer nofollow">TA</a>), historical price action, and other popular metrics.While the chatbot stressed that predicting BTC’s future price is “inherently uncertain” due to it being influenced by a number of factors, it also outlined why the leading <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> could appreciate in value in the coming years.Notably, OpenAI’s chatbot tool listed “increased adoption, institutional involvement, halving events,” and “market sentiment and speculation” as key drivers that could propel BTC by the end of 2023.<blockquote>– ChatGPT said.“As Bitcoin continues to gain acceptance and adoption among individuals, institutions, and even governments, it may result in increased demand and potentially drive the price higher.”</blockquote><h2 id="header-0">AI BTC price prediction</h2>Meanwhile, CoinPriceForecast, a widely-used price prediction tool, was quite <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> on Bitcoin’s price in the coming years. The forecast website predicts BTC to hit $35,085 by the end of 2023, implying a potential upside of more than 30%. Notably, this is over $2,000 more than the <a href="https://finbold.com/ai-predicts-bitcoin-price-for-the-end-of-2023/" rel="noopener noreferrer nofollow">price prediction</a> retrieved back in February.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/4861755c89974179b726d001b520976e.jpg" />Bitcoin price forecast. Source: CoinPriceForecastFor 2024 and 2025 year-end, the tool estimates Bitcoin to reach $40,290 and $44,766, respectively.<h2 id="header-1">Bitcoin price analysis</h2>At press time on Friday, May 19, Bitcoin was trading at $26,845, down 1.95% on the day. Over the past week, the world’s biggest <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto</a> coin advanced around 1.88%. Still, BTC’s gains since the start of 2023 remain significantly high, up more than 61%.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3f0b90a1b841414ca5af7578f4c72128.png" />BTC 1-day price chart. Source: FinboldEarlier this week, crypto analyst Michaël van de Poppe <a href="https://finbold.com/bitcoin-must-hold-this-support-to-avoid-crashing-below-26k/" rel="noopener noreferrer nofollow">pointed out</a> a certain must-hold <a href="https://finbold.com/guide/stock-trading/#Support_and_Resistance_Levels" rel="noopener noreferrer nofollow">support zone</a> that Bitcoin to prevent a notable price crash.Specifically, the expert said that BTC has to remain in the range between $26,800 and $27,000, as failure to do so could push the cryptocurrency below $26,000 “for a potential bullish divergence.”Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>

We asked ChatGPT what will be Bitcoin price end of 2023; Here’s what it said

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