ChatGPT, the viral AI-powered chatbot created by OpenAI, has recently been making waves in the crypto market due to its objective analysis of trending tokens.
In a recent exchange, ChatGPT offered its forecast for where Bitcoin’s price could head by the end of 2023, providing some much-needed insight for investors.
The AI model also provided a price prediction for the new Bitcoin BSC (BTCBSC) project, which has surpassed the $3m milestone in its ongoing presale phase.
Cautious Optimism Emerges as Bitcoin Bounces Off $25k
After a rough couple of months for the broader crypto market, Bitcoin appears to have found a bottom at the $25,000 level.
Bitcoin fell below $30,000 in mid-July, but strong buying interest has resumed around the nearby support zone.
This interest has allowed Bitcoin to rebound above $26,000 over the past week, with daily trading volume rising by 87%.
Bitcoin’s bounce comes amid an uptick in momentum throughout the entire crypto market, leading the Crypto Fear & Greed Index to rise to 46 – a significant increase from its value last month.
However, there’s still a high degree of investor uncertainty as the SEC considers the approval of several spot BTC ETF applications.
Asset managers like BlackRock have filed for spot BTC ETFs, which could open the floodgates to billions in institutional capital if accepted.
Ultimately, while still in a longer-term downtrend, there’s now cautious optimism among BTC investors for the first time in several weeks.
ChatGPT Predicts Bitcoin Could Reach $40,000 By the End of 2023
When asked for its outlook on Bitcoin’s price by the end of 2023, ChatGPT highlighted several bullish factors that could push BTC higher.
The AI model noted that Bitcoin’s recent rebound from $25,000 and the prospect of the SEC approving spot BTC ETFs suggest upside potential in the coming months.
Due to this, ChatGPT gave an optimistic prediction of $30,000 to $40,000 for Bitcoin by the end of December.
ChatGPT stated that if the ETF filings are accepted, triggering substantial institutional investment, Bitcoin could even surge well above $40,000.
However, ChatGPT did note that its prediction was based on the assumption that favorable market conditions will continue over the next few months.
Nonetheless, this optimistic forecast will be music to the ears of BTC holders, who have seen the coin’s price dwindle since July’s intra-year high.
ChatGPT Also Bullish on Bitcoin BSC, Predicts 10x Returns Post-Listing
Interestingly, it’s not just Bitcoin that ChatGPT has shown optimism about.
The AI model has also highlighted the new cryptocurrency, Bitcoin BSC, as a token that could rise significantly before the end of the year.
Bitcoin BSC (BTCBSC) is a BEP-20 token hosted on the Binance Smart Chain that aims to simulate Bitcoin’s early days while offering passive income opportunities for token holders.
Currently, BTCBSC tokens are available to buy through a limited-time presale, priced at just $0.99 – the same price that Bitcoin was back in 2011.
By using this low price point, Bitcoin BSC’s team seeks to provide an opportunity for speculative investors to acquire a Bitcoin-style asset at a fraction of the cost in the hope of reliving the colossal price rise that BTC experienced previously.
Aside from speculative potential, BTCBSC also incorporates a high-yield staking protocol whereby investors can pledge their tokens and earn yields of 172% per year.
Moreover, since Bitcoin BSC relies on Proof-of-Stake (PoS) rather than energy-intensive mining, it aligns with the growing trend toward greener crypto solutions.
The project’s presale has now raised over $3 million and is trending toward hitting its soft cap goal in the coming days.
Due to the strong hype and momentum around BTCBSC, ChatGPT has speculated that the token could see significant gains once it makes its DEX debut.
Ultimately, ChatGPT suggested that BTCBSC could potentially trade between $2 and $10 post-listing – meaning early backers would see a 10x return if the price reaches the higher end of this range.
Although entirely hypothetical, this optimistic ChatGPT forecast further solidifies Bitcoin BSC’s potential in the eyes of many investors.