The post ChatGPT Predicts Bitcoin to Peak at $120k This December! appeared first on Coinpedia Fintech News
With a price jump of 34% last week, the BTC price is trading at a 3% low from its all-time high level of $99,655. The market cap remains at $1.915 trillion while maintaining the market dominance of 56.43%.
Amid such positive numbers, the broader market anticipates the BTC price surpassing the $100,000 mark in the first week of December. However, broader market volatility and the changing global market conditions are critical to watch out for as 2024 concludes.
So, we asked ChatGPT to predict BTC prices in the coming month as crypto enthusiasts anticipate the last rally of 2024 to begin shortly.
So, without further ado, let’s look at ChatGPT’s Bitcoin price prediction.
Bitcoin Price Performance
In the 4-hour chart, the BTC price action bullishly broke out of a triangle pattern. The breakout run failed to surpass the $99k mark and is now retesting the broken trendline.
The current 4-hour candle with a price surge of 0.31% reflects the underlying forces attempting a post-retest reversal. Basis the Fibonacci levels, the BTC price is within the 50% and 61.80% boundary levels.
The consolidation range will determine the 24-hour price trend and could set the tone for early December. A bullish breakout will boost the BTC price to claim the $100k mark for the first time in history and create a new 6-digit all-time high.
Furthermore, the MACD and signal lines maintain a positive alignment. Conversely, the crucial support remains at $95k.
So, let’s check out what ChatGPT predicts of the Bitcoin price trend in December.
Chatgpt Predictions for Bitcoin Eyes $100k!
To find accurate price predictions from ChatGPT, we provided the AI with the ongoing price trend and the historic monthly and quarterly returns. Based on this data, the conservative estimate from Bitcoin price estimates a return of 5-10% from the closing price in November.
This estimates a Bitcoin between $101,600 to $106,500. Hence, the GPT expects BTC to cross the 100,000 mark in the coming month definitely.
In the case of an optimistic approach, the increased momentum will drive a 20-25% price surge in Bitcoin prices. This will push the market price of a single Bitcoin to $116,000 to $120,000.
FAQs
ChatGPT predicts BTC will cross $100K, with price targets between $101,600 and $120,000.
Market momentum, Fibonacci retracements, and positive MACD signals support bullish trends.
Crucial support at $95K; resistance at $99K with upside targets at $106K and $120K.
