AI Predicts Bitcoin Price for 2024: Will It Reach $149,145?
With the cryptocurrency market experiencing a surge in bullish sentiment and Bitcoin (BTC) surpassing its previous all-time high (ATH), many crypto traders are curious about the price of the flagship decentralized finance (DeFi) asset by the end of 2024. To answer this question, Finbold has utilized advanced artificial intelligence (AI) and machine learning platforms to predict the future price of Bitcoin.
AI Bitcoin Price Prediction
So, what does AI say about Bitcoinโs future price? According to several price forecasting algorithms, Bitcoin is expected to continue increasing in value throughout 2024. By December 31, 2024, these predictions suggest that Bitcoin could reach an impressive $149,145.
- This represents a potential price increase of 103.56% compared to its current value at the time of publication.
- These projections rely on BTCโs historical price trends, technical analysis (TA), and various chart patterns.
Furthermore, GPT-4, the fourth iteration of OpenAIโs ChatGPT model, has provided a range for Bitcoinโs possible price by the end of 2024. The lower end of the range is a pessimistic $72,991, while the upper target is a more bullish $100,000. However, it is worth noting that specific upper limits were not provided.
โWhile specific upper limits are not provided, considering Bitcoinโs past performance and expert optimism, it wouldnโt be far-fetched to speculate prices to touch or even exceed $100,000.โ โ GPT-4
In contrast to GPT-4โs predictions, Claude 3 Opus by Anthropic sees a lower-end price of $90,000 and an upper-end target of $120,000 for Bitcoin by the end of 2024.
Bitcoin Price in 2024
As of now in 2024, Bitcoin has already experienced significant growth:
- Bitcoin has rallied over 70% this year.
- On its monthly chart, it made a 53.11% run.
- Over the past week, it increased by 9.05%.
- In the last 24 hours, it saw a more modest advance of 1.49% and reached a price of $73,270 on March 13.
Additionally, two crypto analysts named Trader Tardigrade and CryptoJelleNL have observed bullish chart patterns that suggest another potential surge for Bitcoin in the future. CryptoJelleNL even predicts a high of $180,000 by the end of the year.
Ultimately, Bitcoin has the potential to reach any of the projected price targets set by AI platforms. However, which target it will reach depends on its continued strength and relevant developments. It is crucial for individuals to conduct their own research before making any significant investments in Bitcoin.
Hot Take: Will Bitcoin Reach $149,145 by 2024?
The predictions from various AI models indicate that Bitcoinโs price could soar to new heights by the end of 2024. While some projections estimate a lower price range around $72,991, others are more optimistic with targets as high as $149,145 or even $180,000. The current bullish sentiment surrounding Bitcoin and its past performance provide reasons for optimism among experts and investors alike. However, it is important to remember that these predictions are not guaranteed outcomes.
If you are considering investing in Bitcoin, it is essential to conduct thorough research, assess your risk tolerance, and seek professional advice if needed. The cryptocurrency market is highly volatile, and prices can fluctuate rapidly. As with any investment, it is crucial to make informed decisions based on your own financial goals and circumstances.
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