Perplexity, a popular AI chatbot, has made bold predictions about Bitcoin’s price in 2024, with some projections reaching as high as $150,000. These estimations come as Bitcoin prepares for its fourth halving event, which is often associated with the start of a new bull market. Additionally, there is anticipation that the US Securities and Exchange Commission will approve several spot Bitcoin exchange-traded funds, potentially attracting large institutional investments.
Despite concerns about potential sell-the-news events following an ETF approval, Perplexity remains bullish on Bitcoin’s future. The chatbot’s rival outlines price predictions ranging from $63,140 to $148,000 for next year. When asked for further details, Perplexity suggests that Bitcoin could hit $148,000 if it follows a similar trajectory to 2023.
However, Perplexity also acknowledges that the cryptocurrency’s price reaching a new all-time high in 2024 is uncertain and subject to various predictions. Some experts suggest that Bitcoin could reach $100,000 by the end of that year, marking a new milestone.
The AI chatbot identifies several factors that could impact Bitcoin’s price in 2024. The halving event, which reduces block rewards for miners and slows down the creation of new bitcoins, has historically preceded a bull market. Furthermore, Perplexity highlights the importance of institutional adoption, particularly if a spot exchange-traded fund receives regulatory approval. This development could drive increased demand and price appreciation.
In conclusion, while uncertainties remain, Perplexity’s optimistic projections for Bitcoin’s price in 2024 have sparked excitement among cryptocurrency enthusiasts. With the upcoming halving event and potential institutional adoption, many are hopeful that Bitcoin will reach new heights next year. As always, investors should approach these predictions with caution and do their own research before making any financial decisions.
