The last week saw massive volatility in the crypto market, resulting in sharp price movements in both directions. With Bitcoin briefly falling below $50,000 before rising back above $60,000, market uncertainty increased.
To eliminate the human error of preconceived opinions and biased views, we used artificial intelligence. We asked ChatGPT to predict when Bitcoin surge will reach a new all-time high. Let’s find out ChatGPT predictions for Bitcoin.
Bitcoin price development
Before we get to the ChatGPT predictions for Bitcoin, let’s take a look at the daily Bitcoin price chart. BTC price reversal rally from $50,000 results in a V-shaped recovery with a price jump of 11.90% in a day.
Trading View
Bitcoin faces resistance at the 50D EMA after breaking above the 200D EMA and struggles to hold the $60,000 mark. As the bull cycle struggles to continue, a minor pullback retests the 200D EMA and the breakout above $60,000.
A continuation of the bullish trend in a bullish flag channel suggests a breakout. However, constant rejections from the upper trend line warn of a gradual decline in bullish momentum until a breakdown occurs. Let’s ask ChatGPT.
ChatGPT predicts a new Bitcoin all-time high this October!
The AI shares the price analysis chart with ChatGPT, performs technical analysis and points out the critical elements. Starting from the 200D EMA support to the 50D EMA resistance, crucial resistance and support levels and the RSI, the AI captures the entire trend.
In addition, ChatGPT was provided with the August US Bitcoin spot ETF data to make more accurate predictions related to the ETFs.
So, according to ChatGPT, the path to a new all-time high in Bitcoin is clear and the chances are increasing. The AI predicts that Bitcoin will reach a new all-time high by crossing the $73,750 mark in late September to October 2024.
Therefore, according to the ChatGPT forecast for Bitcoin, a sideways trend below the $70,000 mark is very likely.
