ChatGPT, an artificial intelligence (AI) tool for Bitcoin price prediction, has gained recent attention in the cryptocurrency market. Along with advanced algorithms, ChatGPT enables users to forecast the movements of Bitcoin and other digital assets in order to gain better insights when trading. To understand the potential of Bitcoin’s price over the next couple of years, Finbold asked ChatGPT to provide a prediction by 2023.
Although the cryptocurrency market is extremely unpredictable, ChatGPT was able to identify the key drivers that are likely to increase Bitcoin’s value by the end of 2023. The main factors include increased adoption, institutional participation, halving events, and overall market sentiment. Taking into consideration all these factors, CoinPriceForecast predicts that Bitcoin will be worth $35,085 by the end of 2023 (representing a 30%+ growth compared to February). The prediction tool has also stated that Bitcoin is likely to reach $40,290 by 2024 and $45,766 by 2025.
Crypto analyst Michal van de Poppe has mentioned the key support levels that Bitcoin must hold in order to avoid a significant price plunge. According to the expert, Bitcoin must stay in the range of $26,800 and $27,000 or risk going below $26,000. Currently, the world’s biggest cryptocurrency is trading at $26,845, losing around 1.95% of its value since yesterday. Despite today’s minor downtrend, Bitcoin has made significant strides this week, gaining a total of 1.88%.
ChatGPT is certainly a powerful tool for traders and investors who are looking to gain more insight into the future of Bitcoin’s price. Together with CoinPriceForecast and other reliable price prediction websites, ChatGPT has become increasingly popular. Michal van de Poppe is also widely acknowledged within the cryptocurrency industry, as the veteran analyst is able to provide reliable market analysis. While predictions are never 100% accurate; all these tools can help traders and investors better understand the likely future of Bitcoin’s price.
