Bitcoin (BTC) has seen tremendous growth over the past decade, even without the approval of a spot BTC ETF in the US.
However, Google’s AI model Bard predicts the BTC price could soar in 2024 if the SEC finally allows one of these ETFs to go live.
This article will examine Bard’s Bitcoin price forecast, as well as another altcoin that Bard expects to perform well in the year ahead.
Long-Awaited Spot Bitcoin ETF Finally Nears Approval
The prospect of a spot Bitcoin ETF being approved in the US has generated tremendous anticipation in recent months.
At the time of writing, the SEC appears poised to finally give the green light after years of rejections and delays.
They have engaged extensively with issuers to address outstanding concerns around models, authorized participants, fork handling, and more.
Prominent ETF analyst Eric Balchunas suggests the SEC is now in late-stage review, and approvals could come as early as this week.
Approval would allow trading in spot Bitcoin ETFs for the first time in the US, although these funds are already available in Canada and some European countries.
Currently, only Bitcoin futures ETFs are available to US residents.
Overall, the market now widely expects a breakthrough after countless setbacks, with ETF approval potentially bringing a wave of institutional capital into the space.
This inflow of capital could significantly boost the legitimacy of Bitcoin as a viable asset class.
AI Model Google Bard Predicts Bitcoin Price After ETF Approval
Google’s conversational AI, Bard, sees substantial upside for Bitcoin if the SEC approves a spot BTC ETF.
Bard highlights increased institutional investment, greater legitimacy, and reduced volatility as potential price catalysts.
With easier access for major players like pension funds, fresh capital could flow into Bitcoin and bid up the coin’s price.
Regulatory approval would also enhance Bitcoin’s reputation and attract hesitant investors.
Additionally, Bard notes that ETFs typically provide diversification and liquidity benefits that can help smooth out price fluctuations.
Considering all this, Bard forecasts a moderate 10% price increase to $48,642 if limited new demand materializes post-approval.
However, if approval triggers a surge of institutional and retail interest, Bard sees prices potentially rising 25% to $55,275.
Finally, in a highly bullish scenario, Bard predicts Bitcoin could even surge 50% to $66,330.
Should this latter scenario occur, it would put Bitcoin just below 2021’s all-time high of $68,789.
Which Other Cryptos is Google Bard Optimistic About?
While relatively bullish on Bitcoin’s prospects in 2024, Bard highlighted several other cryptos that could be primed for growth.
One crypto that appears to have caught Bard’s attention is Bitcoin Minetrix (BTCMTX), a new Ethereum-based platform aiming to transform the BTC mining space.
Google Bard Predicts Potential 20x Gains for BTCMTX as Presale Demand Ramps Up
The core premise of Bitcoin Minetrix is that by holding the native BTCMTX token, users can participate in cloud mining Bitcoin without owning expensive equipment.
Bitcoin Minetrix handles mining via partnerships with established cloud mining providers, significantly streamlining the mining process.
Token holders simply have to stake their BTCMTX to generate BTC rewards or earn a share of the associated mining yields.
This “Stake-to-Mine” model aims to offer an accessible way for everyday investors to generate a passive income stream.
Over 16,600 people are now following Bitcoin Minetrix on Twitter, demonstrating the massive interest in the project’s features and goals.
Google Bard sees potential for solid short-term returns as Bitcoin Minetrix builds adoption following the ongoing presale.
If the platform launches successfully and accumulates users, Bard predicts BTCMTX could reach as high as $0.0635 post-presale.
With strong execution and marketing, Bard forecasts BTCMTX could even hit $0.127 in the next 12 months, reflecting potential 10x gains.
Lastly, if the project achieves standout traction and institutional buy-in, Bard’s hypothetical long-term price target is $0.254 – a 20x increase from the presale price.
Those looking to get involved in the presale can buy BTCMTX tokens for $0.0127 using ETH, USDT, or a credit/debit card.
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