Bitcoin Predicted to Reach $60k-$90k After 2024 Halving – 2-3x Gains Ahead?29. Juli 2023
• The next Bitcoin halving event is estimated to occur in April 2024.
• Historically, Bitcoin halving events have preceded impressive run ups in the price of Bitcoin.
• According to ChatGPT’s artificial intelligence chatbot, the price of Bitcoin could potentially double or triple by the 2024 Halving event, placing it between $60,000 and $90,000.
What is the Bitcoin Halving?
The bitcoin blockchain adds its 840,000th block every four years, which results in a halving of the inflation rate of the bitcoin supply. This process is known as a “halving” and is designed to make sure that the bitcoin supply never exceeds its inbuilt limit of 21 million tokens.
Historical Price Increases After Halvings
In previous halvings such as those in 2016 and 2020 there were impressive runs up in the bitcoin price following them. Matrixport and Standard Chartered recently forecasted that bitcoin might exceed $100,000 next year after this upcoming halving while Morgan Creek Capital projected that it could rise above $300,000 by 2028 following another Halving.
ChatGPT’s AI chatbot predicts that if past trends hold true then we can expect a significant increase in the price post-2024 halving with potential doubling or tripling from current prices to somewhere around $60-$90k range. It did however note that regulatory changes, technological advancements and macroeconomic trends may influence this prediction drastically.
If ChatGPTs predictions come true then we can expect 2-3x gains from current prices just under $30k within a few years which would be an incredibly impressive return for any asset class! Many other long-term pricing models also place Bitcoin higher than ChatGPTs prediction with some forecasting even more staggering returns ahead of us!
It’s clear that investors are looking forward to what could be yet another highly profitable opportunity ahead for holders of bitcoin! Although predictions should always be taken with a grain of salt due to external factors influencing prices it looks like there is much hope for yet another bull run similar to those seen after previous Halvings!