Artificial intelligence solutions, especially ChatGPT Bitcoin It is frequently used in the analysis of cryptocurrencies such as. Google’s artificial intelligence solution Bard continues to be one of the platforms that attract attention in this regard.
Bitcoin is trading at $35,000, losing some of the gains it made last week.
According to Google Bard’s prediction, “The potential price range for Bitcoin at the beginning of 2024 could be between $40,000 and $60,000.” This “reflects the possibility of a moderate price increase due to the approach of the expected halving in April 2024, increased institutional interest and ongoing network developments.”
However, Bard warns that this is just a potential price range and the price of the first cryptocurrency could be higher or lower by the beginning of 2024, so it is very important to conduct thorough research and exercise caution before making any investment decisions.
As the artificial intelligence platform noted, Bitcoin’s price at the beginning of the year has been subject to significant fluctuations throughout its history, including historical price movements that reached an all-time high (ATH) of approximately $69,000 in 2021, but fell to its current level with a large decline. A number of factors can influence it.
As Koinfinans.com reported, the expected halving in April 2024 is “an important event that can positively affect the price.” “The halving could reduce the reward for Bitcoin mining, potentially leading to a decrease in supply and an increase in demand, which could push the price higher as previously shown.”
Bard noted Bitcoin’s “strong and passionate community of users and supporters who believe in its potential as a decentralized and transformative technology” that could lead to an increase in Bitcoin’s price in the long run.
In addition to all these positive developments, institutional investors such as hedge funds and large corporations are showing increasing interest in Bitcoin as a hedge against inflation and a store of value. This could further increase Bitcoin’s price and contribute to greater acceptance of cryptocurrencies in the corporate world.