Alphabet

2024

Bitcoin

<div class="finbold">
 <p class="paragraph">Although Bitcoin (BTC) has continued to consolidate its previous gains, pulling the rest of the cryptocurrency market with it as it sets the current slightly bearish mood, artificial intelligence (AI) platforms have retained their bullish optimism on the price of Bitcoin by the end of this year.</p>
 <p class="paragraph">Indeed, not long after it surpassed the massively important psychological <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> level at $70,000, the largest asset in the crypto sector by market capitalization has returned below it, struggling to return above the $68,000 resistance area from where it could start to recover.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-prediction-2024">Bitcoin price prediction 2024</h2>
 <p class="paragraph">Nonetheless, an advanced AI algorithm that relies on Bitcoin’s historical price action, chart patterns, and other relevant developments has set the price of the crypto market’s representative asset at <strong>$105,794</strong> on December 30, 2024, which would suggest an increase of 55.77% from its price at press time.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Christiano Ronaldo partners up with Binance to introduce a new NFT collection <span class="self-center text-xs text-slate-500">20 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    How rich is Arizona's independent senator: Kyrsten Sinema's net worth revealed <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Kentucky's most active senator in stock trading; Rand Paul's net worth revealed <span class="self-center text-xs text-slate-500">4 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    PayPal eyes ad business, set to utilize data from millions of users <span class="self-center text-xs text-slate-500">16 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="342" src="https://cdn.thebittimes.com/images/2024/05/29/61d9f154906913ae9e9591e35f47651e.webp" alt="12-month Bitcoin price prediction. Source: CoinCodex" class="wp-image-179221" srcset="https://cdn.thebittimes.com/images/2024/05/29/61d9f154906913ae9e9591e35f47651e.webp 1024w, https://cdn.thebittimes.com/images/2024/05/29/61d9f154906913ae9e9591e35f47651e.webp 300w, https://cdn.thebittimes.com/images/2024/05/29/61d9f154906913ae9e9591e35f47651e.webp 768w, https://cdn.thebittimes.com/images/2024/05/29/61d9f154906913ae9e9591e35f47651e.webp 1445w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>12-month Bitcoin <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="noopener noreferrer nofollow" title="prediction" href="https://thebittimes.com/tag/prediction.html">prediction</a>. Source: CoinCodex</em>
  </figcaption>
 </figure>
 <p class="paragraph">Elsewhere, the new model of OpenAI brainchild ChatGPT, called ChatGPT-4o, has offered a <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> range of <strong>$78,299.17 – $87,000&nbsp; </strong>“based on the available <a rel="noopener noreferrer nofollow" title="prediction" href="https://thebittimes.com/tag/prediction.html">prediction</a>s and data,” and taking into account “factors such as the recent halving and its consequent impact on Bitcoin’s issuance and miner rewards.”</p>
 <p class="paragraph">At the same time, Claude Opus AI, the recent AI achievement by Anthropic, has provided an even more bullish forecast than its generative AI peer, suggesting <strong>$80,000</strong> on the conservative end to potentially <strong>over $100,000</strong> on the higher end for Bitcoin, as it explained that:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“This projection takes into account Bitcoin’s historical price patterns, with BTC’s price surging significantly in the 12-18 months following previous halving events.”</p>
 </blockquote>
 <p class="paragraph">Finally, Google Gemini, the AI chatbot developed by Alphabet (NASDAQ: GOOGL), has stated that “given the current information and considering some potential for growth, a possible range could be<strong> between $70,000 and $100,000</strong> by the end of 2024” for Bitcoin.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">For now, the maiden crypto asset is changing hands at the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of $67,915, which represents a decline of 1.20% in the last 24 hours, a 3.18% drop across the previous seven days, but still an increase of 8.90% on its monthly chart, in addition to gaining 61.76% this year, as per data on May 29.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="771" height="430" src="https://cdn.thebittimes.com/images/2024/05/29/eb0ba1bdc7413bdef6296d0cdb992f5c.webp" alt="Bitcoin price year-to-date (YTD) chart. Source: Finbold" class="wp-image-179222" srcset="https://cdn.thebittimes.com/images/2024/05/29/eb0ba1bdc7413bdef6296d0cdb992f5c.webp 771w, https://cdn.thebittimes.com/images/2024/05/29/eb0ba1bdc7413bdef6296d0cdb992f5c.webp 300w, https://cdn.thebittimes.com/images/2024/05/29/eb0ba1bdc7413bdef6296d0cdb992f5c.webp 768w" sizes="(max-width: 771px) 100vw, 771px">
  <figcaption class="wp-element-caption"><em>Bitcoin price year-to-date (YTD) chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">Meanwhile, the game theory phenomenon, which sees rational players, i.e. institutions, pour massive amounts of money into Bitcoin based on observing others profiting from their BTC investments, could help create a ‘fear of missing out’ (FOMO) and drive its <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> toward a whopping $1 million.</p>
 <p class="paragraph">On the other hand, professional crypto trader <em>Wolf</em> has challenged the overly optimistic prognoses, such as that of $500,000 per BTC coming from renowned crypto expert <em>PlanB, </em>arguing instead that $130,000 was the more likely target, upon which he would start selling, using retail traders’ FOMO for exit liquidity.</p>
 <p class="paragraph">In conclusion, Bitcoin might follow the path set by any of the above AI platforms or crypto experts, but they all agree on one thing – the flagship decentralized finance (DeFi) asset can only go up. Still, trends in the crypto sector can sometimes change on a whim, so doing one’s own research is critical.</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>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ai-revises-bitcoin-price-prediction-for-end-of-2024-tbt90283.html">https://thebittimes.com/ai-revises-bitcoin-price-prediction-for-end-of-2024-tbt90283.html</a></p>

AI revises Bitcoin price prediction for end of 2024

Table of Contents

TheBitTimes

Other articles published on May 29, 2024

Analyst Prepares for Altcoin Season as Crypto Whale Spends Millions

Buyback Bonanza of the MoonBag Crypto Leaves Cardano and Solana in a Fading Haze

Bitcoin Price Shows Significant Movement After ETF Approval News

Bitcoin Chosen As Treasury Reserve Asset By This Healthcare Firm Following $40M Purchase

Google Core Algorithm Updates and AI Overviews Are Reducing Publishers’ Traffic

JPMorgan CEO Predicts High Stagflation Risk

Join our free newsletter for daily crypto updates!