Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Solana (SOL) strives higher with strong copper support, next stop $ 200?

2025-05-22

BNB meeting to all time becomes strong, but this crucial zone has to hold

2025-05-22

Lawyers for Tornado -Contant developer say that federal prosecutors have withheld critical evidence from the court

2025-05-22
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    World3 Powers AI-driven Governance on-Chain with Quack AI

    2025-05-22

    Validation Cloud implements AI -Engine on Hedera

    2025-05-22

    Sony announces the Mavet launch of Soneium Blockchain

    2025-05-21

    Nitro Labs launches data anchor to lower the storage costs of Solana

    2025-05-21

    Zimbabwe rolls out blockchain-based carbon credit market system

    2025-05-21
  • NFT

    FIFA starts Avalanche L1 to Power Soccer NFT Collectibles Platform

    2025-05-22

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Solana (SOL) strives higher with strong copper support, next stop $ 200?

    2025-05-22

    Bitcoin price reaches new all time above $ 111,000

    2025-05-22

    Analyst predicts huge Bitcoin outburst based on one gold graph, sees the Altcoin market following

    2025-05-22

    Bitcoin price rays to New All Time Bulls takes the lead

    2025-05-22

    Mike Novogratz says that weakening dollars, broadening the shortage and the deteriorating financial situation of America ‘very good’ for Bitcoin and Crypto

    2025-05-21
  • Learn

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»I asked ChatGPT to foretell Bitcoin’s price in 2024, its prediction is beyond imagination
Bitcoin

I asked ChatGPT to foretell Bitcoin’s price in 2024, its prediction is beyond imagination

2023-08-27No Comments7 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Apart from Bitcoin’s [BTC] price decline, there has been a noticeable decrease in its supply on exchanges. Recent data indicated that this decline had hit a yearly low, with whales displaying greater interest.

The percentage of BTC held on exchanges had decreased to 5.80%. As a recent Santiment post highlighted, this level represented the lowest point BTC has experienced since 2017.

The cryptocurrency market recently witnessed a tumultuous turn of events as the king coin faced a sharp decline. This was followed by BTC’s value dipping below $26k, marking a significant retreat from its previous highs.

The king coin earlier soared as high as $31.7K within a day of Ripple [XRP] securing a partial victory in its legal battle with the U.S. Securities and Exchange Commission (SEC) on 13 July. But it failed to sustain the price rally.

The U.S. District Court of the Southern District of New York ruled in its judgement that the sale of Ripple’s XRP tokens on crypto exchanges and though programmatic sales did not constitute investment contracts; hence, it is not a security in this case. But the court also ruled that the institutional sale of the XRP tokens violated federal securities laws.

The crypto industry has lapped up the judgement instantly, generating a price rally across tokens.

We should also note that in June, the SEC approved the first leveraged Bitcoin futures exchange-traded fund (ETF), namely the Volatility Shares 2x Bitcoin Strategy ETF (BITX). 

The SEC has also accepted spot BTC ETF proposals from major traditional finance (TradFi) firms for review, including BlackRock, Bitwise, VanEck, WisdomTree, Fidelity and Invesco.

London-based Jacobi Asset Management recently announced the launch of its Bitcoin ETF in Europe.

Observers look at these developments as institutional approval of cryptocurrency.


Read Bitcoin’s [BTC] Price Prediction 2023-24


For a long time, the crypto’s price hovered between $200 and $1,000 on the price charts. However, in late 2017, BTC’s value exploded, hitting an all-time high (ATH) of nearly $20,000 in December.

See also  XRP in First Major Pullback Since November: Key Price Levels to Watch

Though market participation grew, the price rally was short-lived. By early 2018, BTC’s price had fallen back down to around $3K. The cryptocurrency market as a whole recorded a period of decline, with many traders losing significant amounts of money.

Nonetheless, Bitcoin made a remarkable recovery, surpassing its previous ATH in late 2020 and reaching an ATH of over $68K in November 2021. However, the 2022 trading year ushered in a new era of bearishness, one exacerbated by the collapse of Terra/LUNA and FTX. In fact, in November 2022, Bitcoin was trading at a two-year low of $15K.

While the crypto market may be unpredictable and volatile, traders and investors can still make informed decisions by staying up-to-date on market news, following expert analysis, and using intelligent trading strategies, such as those offered by ChatGPT.

ChatGPT: A messiah that can help you trade better? 

In November 2022, the AI model ChatGPT was launched to the public. In fact, it quickly gained significant attention, too. With its broad range of capabilities and versatility, the question arises whether there are other ways that ChatGPT can lend its expertise, such as assisting BTC traders in formulating and applying improved trading strategies.

When asked if it could do this, ChatGPT had this to say –

Source: ChatGPT

Due to its nature as an AI tool, there are limitations to what ChatGPT can do regarding price predictions and price future movements. However, there are ways to leverage the tool’s capabilities to formulate better trading strategies as a BTC trader.

One way to utilize the AI tool to make better trading strategies is by deploying it toward fundamental analysis. ChatGPT is capable of extracting insights from financial news articles, social media posts, and other unstructured data sources. We can use this information in conjunction with other datasets to make informed trading strategies.

Another way to use ChatGPT as a Bitcoin trader is to use it for sentiment analysis. ChatGPT can be fine-tuned to perform sentiment analysis on information from news articles, on-chain data providers, social media discussions, and other sources. This can be used to identify whether the BTC market lingers under positive sentiment or is plagued by negative sentiment.

See also  Ethereum price with a clear risk of further losses after multiple rejections

Furthermore, BTC traders can use ChatGPT for technical analysis. Traders can ask ChatGPT to code any technical indicator or trading bot for any trading platform.

For instance, I asked ChatGPT to give me an example of a trading bot that I can use to track BTC’s price volatility in pine script–TradingView’s programming language is useful for back testing trading strategies. The AI responded,

Source: ChatGPT

To use ChatGPT for technical analysis, traders need to be familiar with the language to know when to make the necessary modifications for the code to work properly. The prompt text is crucial in how ChatGPT understands the problem and provides the anticipated solution.


Is your portfolio green? Check out the Bitcoin Profit Calculator


For a well-rounded piece, I spoke to Brian Quinlivan, the Director of Marketing at Santiment, who also happens to have been involved in Bitcoin trading for a few years.

Brian Quinlivan has an MBA degree in finance from Chapman University, Brian has over 10 years of marketing, financial, and data analytics experience. He enjoys creating financial models to improve modern-day investing strategies and study the intricacies of market variations.

Q: In what ways do you think ChatGPT can revolutionize cryptocurrency trading?

Yeah, I think that there’s going to be a lot of use for it, certainly for trading strategies. One thing to be concerned about is the uniform opinions that may result from an AI tech giving a kind of overarching strategy, whether it be hodling or fundamental strategy.

Individuals can easily manipulate ChatGPT to (mis)inform the audience. We are already seeing slight effects of it.

I think it can be both helpful and dangerous at the same time and cause a lot of people to be educated much more quickly, but also be pulled in directions that can influence the way crypto goes and create a lot of self-fulfilling prophecies.

See also  DOGE Transactions Surpass BTC and LTC Thanks to DRC20, But Here's the Catch

Q: How do you think a BTC trader/investor can leverage the AI tool to make better investment decisions?

I think, in short, I think scripts would be used in AI a lot more because of the fact that all of the data could be digested at the same time and given a very simple answer whether to buy or sell. This, I believe, can influence the markets tremendously moving forward.

When will BTC hit the $30K-price mark, if it will? 

As mentioned above, ChatGPT cannot make future predictions.

To get it to answer my question, I decided to jailbreak it by using the Do Anything Now (DAN) method. It says that it can take BTC 4-6 weeks to cross the $30K-price mark.

chatgpt bitcoin

Source: ChatGPT

I further quizzed the AI technology on Bitcoin prices between 2023 and 2024.

chatgpt bitcoin

Source: ChatGPT

The AI bot predicted BTC to potentially hit $75K-$120K within these two years.

In early June, the SEC began its crackdown on Binance and Coinbase, leading to a bearish market. In such a situation, BTC has shown its resilience so far.

At press time, BTC was trading at $25,996. Investors are now hoping that the token will at least reach the $30k-price mark again. 

Both BTC’s Relative Strength Index (RSI) and Money Flow Index (MFI) rested below the neutral 50-mark. Its On Balance Volume (OBV) also showed a downtick.

chatgpt bitcoin

Source: BTC/USD, TradingView

As of now, BTC’s on-chart metrics don’t indicate a price rally. 

ChatGPT might be right

ChatGPT predicts that BTC will reach surprising heights. It expects the coin to break new all-time highs during 2023-24 due to its increased adoption (by companies and institutions) and as BTC’s appeal as a hedge against inflation grows.

The AI bot expects BTC to hit $75K-$120K during 2023-24. However, its on-chart metrics don’t encourage us— at least in the short term. 

However, it is trite to note that increased regulation and government scrutiny could spread FUD, causing its price to dip.

Source link

asked Bitcoins ChatGPT foretell imagination Prediction Price
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin’s realized cap adds $ 3B – this is why BTCs Rally is not over

2025-05-22

Bitcoin affects record $ 111k – This is what drives the power

2025-05-22

Bitcoin price reaches new all time above $ 111,000

2025-05-22

Bitcoin ready for price discovery after $ 109,000 breakout

2025-05-22
Add A Comment

Comments are closed.

Top Posts

Why Are People Burning CryptoPunks For Ordinals NFTs?

2023-06-30

$1,700,000,000 Hedge Fund Hacked for Unspecified Amount of Crypto Assets, Perpetrators Not Arrested: Report

2024-05-16

Espresso Sequencer’s fourth testnet launch integrates with Arbitrum

2024-01-27
Editors Picks

SEC -Files to arrange a lawsuit with Ripple, Execs about Civil Fine -Safe

2025-05-08

The NFT sales slump continues amid record crypto volumes, marking its fourth week of decline

2024-04-06

Dogecoin (Doge) indicates a new upward movement: can bulls take the lead?

2025-01-30

Voting for the Terra Luna Classic v2.1.0 upgrade will begin soon

2023-06-05
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Solana (SOL) strives higher with strong copper support, next stop $ 200?

BNB meeting to all time becomes strong, but this crucial zone has to hold

Lawyers for Tornado -Contant developer say that federal prosecutors have withheld critical evidence from the court

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$110,815.673.30%
  • ethereumEthereum(ETH)$2,650.913.83%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.422.10%
  • binancecoinBNB(BNB)$685.714.44%
  • solanaSolana(SOL)$177.524.66%
  • usd-coinUSDC(USDC)$1.000.02%
  • dogecoinDogecoin(DOGE)$0.2402605.18%
  • cardanoCardano(ADA)$0.805.57%
  • tronTRON(TRX)$0.2761881.81%
  • suiSui(SUI)$3.82-2.80%
  • chainlinkChainlink(LINK)$16.524.45%
  • avalanche-2Avalanche(AVAX)$24.919.25%
  • hyperliquidHyperliquid(HYPE)$30.9816.63%
  • stellarStellar(XLM)$0.2991762.72%
  • shiba-inuShiba Inu(SHIB)$0.0000153.99%
  • hedera-hashgraphHedera(HBAR)$0.2017882.60%
  • bitcoin-cashBitcoin Cash(BCH)$427.036.09%
  • unus-sed-leoUNUS SED LEO(LEO)$8.890.61%
  • the-open-networkToncoin(TON)$3.172.99%
  • polkadotPolkadot(DOT)$4.863.23%
  • moneroMonero(XMR)$406.5112.62%
  • litecoinLitecoin(LTC)$98.222.67%
  • pepePepe(PEPE)$0.0000144.11%
  • bitget-tokenBitget Token(BGB)$5.210.91%
  • piPi(PI)$0.821.46%
  • daiDai(DAI)$1.00-0.02%
  • ethena-usdeEthena USDe(USDE)$1.00-0.03%
  • bittensorBittensor(TAO)$469.9813.00%
  • uniswapUniswap(UNI)$6.412.87%
  • aaveAave(AAVE)$254.450.36%
  • nearNEAR Protocol(NEAR)$2.986.02%
  • aptosAptos(APT)$5.424.20%
  • okbOKB(OKB)$52.741.27%
  • ondo-financeOndo(ONDO)$1.005.06%
  • official-trumpOFFICIAL TRUMP(TRUMP)$15.485.69%
  • kaspaKaspa(KAS)$0.1179845.95%
  • ethereum-classicEthereum Classic(ETC)$19.444.17%
  • internet-computerInternet Computer(ICP)$5.514.27%
  • gatechain-tokenGateToken(GT)$21.700.74%
  • crypto-com-chainCronos(CRO)$0.1002393.70%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2480746.35%
  • vechainVeChain(VET)$0.0299854.90%
  • render-tokenRender(RENDER)$4.965.75%
  • mantleMantle(MNT)$0.751.82%
  • ethenaEthena(ENA)$0.4029262.03%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • arbitrumArbitrum(ARB)$0.4233555.89%
  • algorandAlgorand(ALGO)$0.2377284.87%
  • filecoinFilecoin(FIL)$3.014.25%
  • bitcoinBitcoin(BTC)$110,815.673.30%
  • ethereumEthereum(ETH)$2,650.913.83%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.422.10%
  • binancecoinBNB(BNB)$685.714.44%
  • solanaSolana(SOL)$177.524.66%
  • usd-coinUSDC(USDC)$1.000.02%
  • dogecoinDogecoin(DOGE)$0.2402605.18%
  • cardanoCardano(ADA)$0.805.57%
  • tronTRON(TRX)$0.2761881.81%
  • suiSui(SUI)$3.82-2.80%
  • chainlinkChainlink(LINK)$16.524.45%
  • avalanche-2Avalanche(AVAX)$24.919.25%
  • hyperliquidHyperliquid(HYPE)$30.9816.63%
  • stellarStellar(XLM)$0.2991762.72%
  • shiba-inuShiba Inu(SHIB)$0.0000153.99%
  • hedera-hashgraphHedera(HBAR)$0.2017882.60%
  • bitcoin-cashBitcoin Cash(BCH)$427.036.09%
  • unus-sed-leoUNUS SED LEO(LEO)$8.890.61%
  • the-open-networkToncoin(TON)$3.172.99%
  • polkadotPolkadot(DOT)$4.863.23%
  • moneroMonero(XMR)$406.5112.62%
  • litecoinLitecoin(LTC)$98.222.67%
  • pepePepe(PEPE)$0.0000144.11%
  • bitget-tokenBitget Token(BGB)$5.210.91%
  • piPi(PI)$0.821.46%
  • daiDai(DAI)$1.00-0.02%
  • ethena-usdeEthena USDe(USDE)$1.00-0.03%
  • bittensorBittensor(TAO)$469.9813.00%
  • uniswapUniswap(UNI)$6.412.87%
  • aaveAave(AAVE)$254.450.36%
  • nearNEAR Protocol(NEAR)$2.986.02%
  • aptosAptos(APT)$5.424.20%
  • okbOKB(OKB)$52.741.27%
  • ondo-financeOndo(ONDO)$1.005.06%
  • official-trumpOFFICIAL TRUMP(TRUMP)$15.485.69%
  • kaspaKaspa(KAS)$0.1179845.95%
  • ethereum-classicEthereum Classic(ETC)$19.444.17%
  • internet-computerInternet Computer(ICP)$5.514.27%
  • gatechain-tokenGateToken(GT)$21.700.74%
  • crypto-com-chainCronos(CRO)$0.1002393.70%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2480746.35%
  • vechainVeChain(VET)$0.0299854.90%
  • render-tokenRender(RENDER)$4.965.75%
  • mantleMantle(MNT)$0.751.82%
  • ethenaEthena(ENA)$0.4029262.03%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • arbitrumArbitrum(ARB)$0.4233555.89%
  • algorandAlgorand(ALGO)$0.2377284.87%
  • filecoinFilecoin(FIL)$3.014.25%