The price of Ethereum (ETH) has had ups and downs since the start of 2024, but AI model ChatGPT believes it could be gearing up for an enormous bull run.
ChatGPT foresees Ethereum reaching as high as $4,000 if certain conditions are met.
The AI model also made a bold call on eTukTuk (TUK), a new altcoin still in presale that it thinks could be one of the hottest cryptos to watch this year.
Ethereum Rides High on Combination of Bullish Catalysts
While a positive macroeconomic backdrop has set the stage for Ethereum’s double-digit gains in recent weeks, the token’s rally also comes on the heels of strengthening on-chain metrics.
Increased network activity and the upcoming Dencun upgrade paint an optimistic picture of ETH’s utility and demand growth.
The altcoin has also benefitted from a flurry of positive developments that underscore its long-term appeal to investors, including the growing potential that a spot ETH ETF will be launched in the US.
Moreover, the recent hype around “ERC-404” tokens has brought even more attention to the Ethereum network.
ETH is now just 7% below January’s peak of $2,718, with many investors believing the token could exceed that high if the current momentum continues.
With the Crypto Fear & Greed Index nearing “Extreme Greed” once more, and spot trading volumes for ETH above $7.3 billion per day, the stars seem aligned for Ethereum to continue soaring.
ChatGPT Predicts Ethereum Price Could Reach $4,000 in 2024
The confluence of positive factors lifting Ethereum recently has many analysts forecasting further gains for ETH throughout 2024.
However, one of the boldest predictions comes from ChatGPT.
When presented with the current ETH price and context of its recent surge, ChatGPT sees ample for additional upside.
Taking into account the possibility of a US-based spot ETH ETF and the ongoing growth of DeFi on Ethereum, ChatGPT believes ETH could reach between $3,500 and $4,000 by the end of the year.
This would represent nearly 40% to 60% returns from the current Ethereum price.
While such a prediction may seem optimistic, ChatGPT highlights the massive impact a spot ETH ETF could have on the token’s price, as seen recently with Bitcoin (BTC).
Combined with further network upgrades that improve scalability and reduce fees, ChatGPT views these catalysts potentially pushing ETH to $4,000 over the next 11 months.
ChatGPT Predicts 600%+ Returns for Trending Altcoin eTukTuk This Year
While Ethereum grabbed the spotlight with ChatGPT’s 2024 price prediction, the AI system also highlighted an emerging project called eTukTuk.
The eTukTuk project aims to revolutionize transport in developing countries by replacing traditional gas-powered tuk-tuks with eco-friendly electric versions.
It utilizes blockchain and AI technology to optimize operations and has its own native TUK token that serves various functions, like charger station access.
eTukTuk is in the middle of a highly-publicized presale phase that has raised over $940,000, allowing early investors to buy TUK tokens at the discounted rate of $0.0265.
Given this context, ChatGPT sees massive potential for the TUK token this year.
The AI model points to factors like planned exchange listings, the launch of a play-to-earn (P2E) game, and glowing global focus on sustainability as potential catalysts.
In a highly bullish scenario, ChatGPT predicts TUK could surge to between $0.10 and $0.20 by the end of the year.
Should TUK reach the upper end of this range, it would represent a 654% increase from the current presale price.
While still in its early stages, ChatGPT views eTukTuk’s impressive early fundraising and innovative technology as reasons why TUK could have a breakout year ahead of it.