Overcoming the effects of the big supply wave that started last month Bitcoin The price continues its upward trend in the markets. With BTC surging past the $67,000 level, sideline traders are expecting a major rally in the coming months.
This rise mirrors the post-halving rally that saw Bitcoin poised to hit an all-time high in May. Can the uptrend in BTC be considered as a step for Bitcoin to reach the million-dollar mark as it moves towards the psychological $100,000 level?
To study BTC price analysis, predictions were taken from the latest ChatGPT 4o model about the bull run and how high the Bitcoin price could rise in the second quarter of 2024.
Bitcoin Price Analysis
With an increase of almost 10% in the last 7 days, BTC price is climbing to new highs and reflects the huge increase in underlying demand. Additionally, the daily chart shows that the recovery rally is poised to challenge the overhead resistance trend line. A trendline break rally would mark the end of Bitcoin’s retracement phase.
BTC price is currently trading at $67,217 with a 2.76% gain overnight and has reclaimed the $67,000 level. Moreover, the bullish crossover in the VI lines and the rise in the ADX support the possibility of a bull run.
Based on trend-based Fibonacci levels, it is estimated that Bitcoin could easily reach the $100,000 milestone this year if the momentum continues. However, it can only achieve the $77,842 mark or the 50% Fibonacci level in the second quarter.
For a more accurate prediction, we asked the latest ChatGPT model to predict how high the Bitcoin rally could go in the second quarter of 2024.
ChatGPT Predicts Bitcoin Will Reach These Levels in the 2nd Quarter of 2024!
With the ongoing bull run, ChatGPT predictions were expected to be bullish. However, the analysis even exceeded our forecast for an uptrend much closer to $100,000.
The AI predicts that the bullish scenario looks more likely, with the possibility of a drop to $57,000. According to ChatGPT, as the post-calving rally gains momentum, BTC price could reach $87,613 by the end of June.
