Amid a fresh surge of positivity within the cryptocurrency market, where most digital assets are experiencing upward trends, Litecoin (LTC) has been going through a period of consolidation that has negated any significant price fluctuations.
However, a crucial juncture was reached recently in the cryptocurrency’s evolution after successfully mining the 74,000,000th Litecoin. This indicates that only 10 million LTC remain to be mined from its total supply limit of 84 million, as announced by the Litecoin Foundation on December 19.
During the rekindled interest in this digital asset, LTC price increased from $66, reaching a high of $79 before dropping to $69 at the time of writing.
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Considering the ongoing price fluctuations and the growing scarcity of this crypto, Finbold sought insights into the potential standing of the digital asset at the onset of 2024 by consulting the artificial intelligence (AI) bot ChatGPT.
ChatGPT weights LTC’s prospects
Using the data provided and considering the current price range, ChatGPT from OpenAI identified the potential price range of LTC to be between $150 and $200.
The AI also identified factors that could potentially influence the price movement of this digital asset, such as market sentiments, adoption and integration, market trends, regulatory development, technological developments, macroeconomic trends, and competition and market dynamics.
As a further indication of the increasing adoption of this digital asset, its network has witnessed the inscription of over 10 million Ordinals. This heightened activity level serves as a testament to the involvement of LTC investors, solidifying its position as a thriving digital asset community, as reported by Litecoin on December 19.
Google Bard’s LTC price prediction
Meanwhile, Google’s own generative AI tool, Google Bard, presented more realistic projections for LTC given the timeframe.
As per the information gathered from the AI chatbot, the anticipated lower limit for LTC is $35, while the upper limit is projected to reach $210. The average price range is expected to fluctuate between $52 and $87 throughout 2024.
Bard reminds investors that the values of cryptocurrencies are subject to considerable volatility and can undergo significant fluctuations due to unforeseen events. It is advisable to conduct thorough research and assess your risk tolerance diligently before making any investment decisions.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
