2024

Grok

Bitcoin

<div class="finbold">
 <p class="paragraph">There has been no shortage of exciting news pertaining to Bitcoin (BTC) in the first month and a half of 2024. At the very start of the year, the U.S. Securities and Exchange Commission (SEC) announced it had approved 9 stop BTC exchange-traded funds (ETFs) and while the news initially led to a significant price decline, the world’s foremost cryptocurrency has since started surging.</p>
 <p class="paragraph">Since January 1, Bitcoin is up a total of 16.93%. The uptrend is also visible in the last 30 days – 23.74% – and the last 7 days – 20.7%. Additionally, while the news of the hotter-than-expected January CPI initially sent the cryptocurrency into a decline, it swiftly recovered and rose 5.77% to $51,646.</p>
 <p class="paragraph">The latest rally also saw BTC reclaim a market cap greater than $1 trillion.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/vAZ1Nfzz_5AB4qd_kSAKSe-bS8RAeY9SJado9Iu_xdZnIizn8CpFhXDzkf5XEFktVGix6QM5rlySOr_5Dm8yt--XkHsl_iGD7bdB10VUkq005xmF5QGHZgFUbpARYUGrNjEg0GlNaboL9dbCFNnYpig" alt>
  <figcaption class="wp-element-caption">
   BTC YTD price chart. Source: Finbold
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 </figure>
 <p class="paragraph">While the news so far has already been exciting, Bitcoin might be poised for an even greater surge as the next halving event is expected to take place in mid-April 2024. Given that previous havings led BTC to quickly surge tenfold or even a hundredfold, the crypto market is rife with speculation on just how high the coin will go this time.</p>
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 <p class="paragraph">In its quest for answers, Finbold decided to consult OpenAI’s flagship platform – ChatGPT – on where the world’s foremost cryptocurrency might find itself as the halving unfolds.</p>
 <h2 class="wp-block-heading" id="h-chatgpt-makes-a-prediction-on-bitcoin">ChatGPT makes a prediction on Bitcoin</h2>
 <p class="paragraph">At the very start, ChatGPT was <a rel="noopener noreferrer nofollow" title="asked" href="https://thebittimes.com/tag/asked.html">asked</a> to analyze Bitcoin’s most recent movements as well as its historic performance around the previous <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> events. After making some confusing statements at the start, the artificial intelligence (AI) model quickly remembered it had and already used its access to the live web and got its facts straight.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/EGBwVe9UEhl33WjiwK9-VSlrcMf0NwYkJ-KMk1415PT6kjHdrbW0T6a8Y72Z6C-OyOAxDjVAX90NRUIMVdNpYxf281YgiZkD4wYJGFYP-aJzTtfoNHDByf-qNRN--vpcYb5jnXw3KOjwu0UMffk_BxA" alt>
  <figcaption class="wp-element-caption">
   ChatGPT confuses its latest full dataset update with live price information it retrieved. Source: Finbold and ChatGPT
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 </figure>
 <p class="paragraph">At the start, ChatGPT made a forecast that BTC is likely to continue its rally in the leadup to the <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> and, on the eve of the event, find itself somewhere between $60,000 and $70,000.</p>
 <p class="paragraph">Initially, it offered a very wide range of between $70,000 and $100,000 immediately upon the halving’s competition but when asked to narrow it, it settled for between $75,000 and $80,000 – though it pointed out that the narrowing also reduced its confidence in the already-speculative price target.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/vab42lCCo7BtfBaZV0zSFL2nCGCjQOr6P96rMx--ki5kmhjn5lzeY2pAgO5MvQiDvxByIxuGuqvQbWJgQXxYLIBIz-11LxOXdu3nZvk_QCjhPsSuwAX5jq8MOS5OZqzqCJsAzalJ1SXPkcibx463xmM" alt>
  <figcaption class="wp-element-caption">
   ChatGPT predicts the immediate effects of BTC halving. Source: Finbold and ChatGPT
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 </figure>
 <p class="paragraph">Given that many of the previous <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>s saw Bitcoin surge only after many months, ChatGPT was also <a rel="noopener noreferrer nofollow" title="asked" href="https://thebittimes.com/tag/asked.html">asked</a> to predict where the cryptocurrency might stand on the last day of the year – December 31, 2024.</p>
 <p class="paragraph">The AI, seemingly, assessed that it is safest to assume that Bitcoin is unlikely to see a surge as big as with the previous halvings and settled for a range between $80,000 and $85,000.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/yIuMZXBSmm5j3taqapc0yA-ulatDHa_OX9FD6KkQZ789HV0xyIMOvoscgCvk3VjZealcq4x9jrBphxPJ3EILrqTuys2Ztir7FrLJmnmVtSFizeAt5KNTMA7-uA6HW9v4LNx_CB16KyFBRjZP6qvoQH8" alt>
  <figcaption class="wp-element-caption">
   ChatGPT offers likely BTC price on December 31, 2024. Source: Finbold and ChatGPT
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 <h2 class="wp-block-heading" id="h-chatgpt-assesses-extraordinary-scenarios">ChatGPT assesses extraordinary scenarios</h2>
 <p class="paragraph">In fact, the large language model (LLM) also proved fairly conservative when asked to make a plausible bullish prediction. It stated that such a surge – probably driven by widespread adoption as made possible, in part, by the approval of spot BTC ETFs and wider institutional acceptance – would still see Bitcoin reach no higher than $200,000.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/LWKgsUkkoIrxNyklq4jjBX98pQEWh6h4CuFr2VWFZBGskJzsjLG_M_vXUSJKRvtLf5uxLOsyVuJdEJIOj7agj4PNQBFOhXFiikjps9DQqu3oFytKA8eHT5vh7SWHFp_F8E1KHsUFM8av1Xo7exNozRw" alt>
  <figcaption class="wp-element-caption">
   ChatGPT offers and extreme bull case. Source: Finbold and ChatGPT
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 </figure>
 <p class="paragraph">On the other hand, the AI’s bear case was rather drastic as it saw the price of BTC dropping as low as $10,000 by the end of 2024 should market fatigue set in, a major regulatory crackdown begin, or a strong competitor arise.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/wbGY5rVuJqJ8VsGkhRR0Hiqms1q0-tKRr6lnad51u8c17aExz0uJq3iSV0AmSt053b22gJzYexS8iuK8uRbT_2ZrAYm4KyO6xRfSQfSajY0UagDFImEsIThHNAwY-1rZNm3GQROQecY4xLLj7NNJ7FI" alt>
  <figcaption class="wp-element-caption">
   ChatGPT offers and extreme bear case. Source: Finbold and ChatGPT
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 </figure>
 <p class="paragraph">Still, ChatGPT’s justifications for the extreme bear case appeared to make significantly bigger assumptions than its bull case, given the recent trends that saw the approval of ETFs, organizations formerly hostile to cryptocurrencies start investing in the industry, and new legislation enshrining the rights of the crypto community get made into law.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/we-asked-chatgpt-what-will-be-bitcoin-price-after-2024-halving-tbt79835.html">https://thebittimes.com/we-asked-chatgpt-what-will-be-bitcoin-price-after-2024-halving-tbt79835.html</a></p>

We asked ChatGPT what will be Bitcoin price after 2024 halving

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