After Bitcoin (BTC) started the week on a strong note with its price near $67,000, pulling other crypto markets, artificial intelligence (AI) algorithms are predicting that it will become the first crypto asset in the following week. is expected to be even more bullish and move further forward. Several months.
In fact, Bitcoin has consolidated its position above the key support level of $66,000, and the next important step is to move above $67,000, creating confidence and optimism not only from the cryptocurrency industry but also from advanced AI prediction algorithms. caused a point of view.
BTC price prediction
Specifically, one of these AI algorithms is based on historical BTC trends, technical analysis (TA) indicators, chart patterns, and related trends that indicate Bitcoin could reach a price of I predict that. $97,264 By August 1, 2024, it would imply an increase of 44.89% from its current value.
Elsewhere, the latest version of the OpenAI invention ChatGPT, called GPT-4o, provides Bitcoin price predictions for August 1, 2024. Between $76,348.50 and $89,108.83“taking into account ongoing market factors and historical trends.”
Meanwhile, a recent Anthropic AI model, Claude 3 Opus, is even more optimistic, providing an estimate of the Bitcoin price, suggesting it will trade at: $105,072 and $167,808 By August 2024, taking into account post-Bitcoin halving sentiment and exchange-traded funds (ETFs).
It was explained as follows.
“The approval of the Spot Bitcoin ETF in early 2024 led to significant inflows, with BlackRock’s ETF alone amassing over 16,000 BTC within days of its launch. If institutional adoption continues, Prices may rise.”
BTC price analysis
As of now, Bitcoin is trading at $67,130, which represents a 0.11% decline in the past 24 hours, but is still up 6.88% in the past 7 days and has a cumulative gain of 4.93% over the past month. It is said that Recent charts for May 20th.
Meanwhile, prominent crypto trading expert Ali Martinez explained in a May post on level, and if this level is maintained, there is a possibility that Bitcoin will soar. 20.
Formerly a kana expert trading shots As Finbold reported on May 18th, based on an analysis of Bitcoin's TA indicator and the general bullish sentiment after a significant correction in early May, Bitcoin has reached $100,000 since July. He shared his insight that it is possible to reach
All things considered, Bitcoin could certainly follow the path set by some of the popular AI platforms, especially if the market maintains positive sentiment towards the flagship decentralized finance (DeFi) asset. However, it is very important to do your own research in this matter as the sector can change overnight.
Disclaimer: Content on this site should not be considered investment advice. Investments are speculative. When you invest, your capital is at risk.
