With the continuation of exceptionally bullish sentiment in the cryptocurrency market, which has pushed Bitcoin (BTC) to surpass its previous all-time high (ATH), many crypto traders are wondering about the price of the flagship decentralized finance (DeFi) asset by the end of 2024.
In this context, Finbold has employed the capabilities of different advanced artificial intelligence (AI) and machine learning platforms with the aim of finding the answer to one important question – what will be the price of Bitcoin in 2024 and at its conclusion?
Bitcoin 1-year price prediction. Source: CoinCodex
In other words, Bitcoin could increase its price by 103.56% compared to its current situation at the time of publication – provided that the projections, which rely on BTC’s historical price trends, technical analysis (TA), and various chart patterns, actually materialize.
At the same time, the fourth iteration of the OpenAI brainchild ChatGPT, dubbed GPT-4, has suggested a possible price for Bitcoin by the end of 2024 that falls somewhere in the range between the pessimistic $72,991 and a more bullish upper target at $100,000, based on the multifaceted analysis.
According to GPT-4:
“While specific upper limits are not provided, considering Bitcoin’s past performance and expert optimism, it wouldn’t be far-fetched to speculate prices to touch or even exceed $100,000.”
On the other hand, Claude 3 Opus, the latest AI model by Anthropic, sees the lower-end price of BTC at $90,000 and at the upper end targeting $120,000 by the end of 2024, which is a bit more optimistic when compared to the projections by its OpenAI counterpart.
Bitcoin price 2024
Meanwhile, so far in 2024, Bitcoin has rallied by over 70%, more recently making a 53.11% run on its monthly chart, as well as racing 9.05% across the past week and making a more modest advance of 1.49% in the last 24 hours, and hitting the price of $73,270, according to the price data on March 13.
Bitcoin year-to-date (YTD) price chart. Source: Finbold
It is also worth noting that two crypto analysts, Trader Tardigrade and CryptoJelleNL, have recently observed exceptionally bullish chart patterns that suggest another explosive surge for Bitcoin in the future, with the latter targeting as high as $180,000 by the year’s end.
Ultimately, Bitcoin could, indeed, reach any of the price goals set by the above AI platforms, although which one will depend on its further strength and relevant developments. Regardless, it is important to carry out one’s own research before investing any significant sum of money in it.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
