Bitcoin Price Prediction: Breaks $45K, ETF Approval Looms, AI’s $100K Forecast
In a remarkable shift, Bitcoin has surged to $45,316, marking a 7.06% increase on Tuesday. This breakthrough above $45K comes at a crucial time, just ahead of a potential ETF approval that could significantly impact its market trajectory.
Amidst these developments, ChatGPT sheds light on the role of artificial intelligence in forecasting Bitcoin’s ascent to a staggering $100,000 by 2024.
Meanwhile, political factors such as Donald Trump’s potential loss in the upcoming presidential election are speculated to trigger a stock market crash and possibly usher in a new Great Depression.
Bitcoin (BTC) has reached above $45,000 for the first time in over two years, and the price is expected to rise further with the upcoming approval of the first spot Bitcoin exchange-traded fund (ETF) in the United States.
The cryptocurrency’s value has now surpassed all 2023 highs, establishing a significant new yearly peak just two days into 2024, after rising more than 6% in the last 24 hours and 170% in the last year. The market is waiting for the SEC’s verdict on 14 pending applications for a spot Bitcoin ETF.
Bitcoin’s latest price spike has sparked controversy among market observers, as it was last seen above $45,000 nearly 20 months ago in April 2022.
While some anticipate a potential “bull pennant” formation leading to a $54,000 gain upon SEC approval, others, such as VanEck advisor Gabor Gurbacs, anticipate an initial drop but enormous trillions in inflows in the future years.
The latest incarnation of the AI chatbot, ChatGPT-4, suggests that Bitcoin’s price might reach $100,000 in 2024 under certain favorable conditions, citing variables such as positive legislative developments, growing acceptance, and currency depreciation.
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