After venture capitalist and former CTO at cryptocurrency trading platform Coinbase Balaji Srinivasan made a shocking claim that Bitcoin (BTC) could reach the price of $1 million in the following three months, many in the crypto community became intrigued, wondering if his prediction could truly materialize.
As the guesswork continued en masse, some analysts have turned to OpenAI’s text-based artificial intelligence (AI) platform ChatGPT for suggestions, so the Finbold team decided to give it a shot as well, and the results were indeed bullish, although far from the $1 million touted by some individuals.
$300,000 in cards?
As always, upon being asked to offer hypothetical average Bitcoin predictions for each year in the 2024-2030 period, ChatGPT warned it was only an AI language model and, as such, could not “predict future Bitcoin prices with certainty or accuracy,” but it ultimately did manage to deliver some interesting rounded up numbers.
According to the figures provided by the AI tool, Bitcoin is expected to reach the price of $150,000 in 2024, adding around $25,000 every following year until it (speculatively) hits a very enticing number of $300,000 in 2030, as per the query posted on March 29.
Although this prognosis is indeed very optimistic, others have gotten even more bullish responses from ChatGPT. Specifically, Twitter user Priced in Bitcoin had earlier shared an exceptionally optimistic prediction reportedly retrieved from the chatbot, which sees the flagship decentralized finance (DeFi) asset changing hands at the price of $1 million by 2030.
As a reminder, this is the same number envisioned by Balaji Srinivasan, albeit on a much longer time scale. Having said that, Finbold was unable to replicate this same response by ChatGPT despite using diverse and numerous prompts.
Bitcoin price analysis
Meanwhile, Bitcoin is at press time trading at the price of $28,425, up 5.11% in the last 24 hours and 0.57% across the previous week, adding up to the gains of 20.75% on its monthly chart, as the maiden cryptocurrency is nearing the $30,000 level and recording a ‘strong buy’ sentiment.
It should also be noted that Bitcoin has added nearly $30 billion to its market capitalization in a single day, although the Chief Market Strategist at InTheMoneyStocks.com, Gareth Soloway, believes that it could drop below $13,000, possibly even as low as $9,000 in 2023 before another rally begins.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.