Over the last week, the crypto market has witnessed a massive surge of volatility, resulting in sharp moves on either side. With Bitcoin dipping below $50,000 momentarily before making a comeback above $60,000, the market uncertainty is on the rise.
So, to eliminate the human error of preconceived notions and based views, we used artificial intelligence. We asked ChatGPT to predict when the Bitcoin rally will hit a new all-time high. Let’s find out the ChatGPT predictions for Bitcoin ahead.
Bitcoin Price Performance
Before heading to the ChatGPT predictions for Bitcoin, let’s take a look at the daily Bitcoin price chart. The BTC price reversal rally from the $50K results in a V-shaped recovery with the 11.90% price jump in a day.
Tradingview
Taking resistance from the 50D EMA after exceeding the 200D EMA, Bitcoin struggles to hold onto the $60,000 mark. As the bull cycle struggles to continue, a minor pullback retests the 200D EMA and the $60,000 breakout.
A bullish trend continuation in a channel of a bullish flag teases a breakout run. However, the constant rejections from the overhead trendline warn of a gradual decline in bullish momentum till a breakdown occurs. Let’s ask ChatGPT.
ChatGPT Predicts A New Bitcoin ATH This October!
Sharing the price analysis chart to ChatGPT, the AI makes a technical analysis and points out the critical elements. Ranging from 200D EMA support to 50D EMA resistance, crucial resistance and support levels, and RSI, the AI takes in the entire trend.
Furthermore, ChatGPT has been fed the US Bitcoin Spot ETF data of August to make more precise predictions in correlation to the ETFs.
So, as per the ChatGPT, the path to a new ATH in Bitcoin is clear and the chances are increasing. The AI predicts the Bitcoin to hit a new all-time high by surpassing the $73,750 level in late September to October 2024.
Hence, a sideways trend under the $70,000 mark is highly probable as per the ChatGPT prediction for Bitcoin.
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