Welcome back with another video. My name is Nabil and today I am going to show you some insane price predictions for Bitcoin using ChatGPT and Bard from Google. We will also look into Bitcoin charts, Bitcoin halving, and other facts and figures. So, do not skip this video and watch till the very end.
Let’s start by asking for Bitcoin price predictions for 2023 and 2024 using Bard. Here are the results: the minimum prediction is $18,200 and the maximum prediction is $31,000. At the time of recording this video, Bitcoin is trading at $29,310. Last year, it hit a bottom of around $15,000. From the lows of $15,000, we went all the way up to $31,000 this year, a hundred percent gain.
Now, let’s analyze the charts ourselves. We can see a pretty decent trend line from the lows of last year to the mid of this year, suggesting that we might pull back to retest this support again and then go for the next resistance, which is around $32,200. From there, we might go to our next resistance, which is around $37,540, or we might blast through the first resistance of $32,000 and go straight to $37,000. We cannot rule that out. Let’s see how it plays out, especially when the Bitcoin halving is around the corner, just 288 days away.
Now, let’s look at another price prediction source, Plan B’s stock-to-flow model. According to this prediction, Bitcoin could reach anywhere from $100,000 to $1 million over the span of a decade. Looking at the market cycles, we can see that after each halving event, there is a significant price action. The first halving took 528 days to reach the all-time high, and the second halving took 552 days. Now, we are in the early stages of a new bull market, and it makes sense to retest the support at around $29,330 before moving upwards.
Considering all these factors, we can build a scenario where $120,000 is on the table for the next cycle. This would be a 200% gain from the current price. However, please note that this is not financial advice and is for educational purposes only.
If you liked this video, please like and subscribe to our channel.
