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ChatGPT predicted a sharp decline in the price of Bitcoin
The query to the neural network was composed by Finbold journalists. ChatGPT cited the main reason for the decline in the price of the leading cryptocurrency as the reduction in dollar liquidity in global financial markets. The U.S. Treasury’s balance has increased from $623 billion to $800 billion over the past four weeks. This means the agency has temporarily withdrawn about $200 billion from circulation, reducing available liquidity for investments in risk assets such as cryptocurrencies.
The AI model stated that increasing competition from central bank digital currencies (CBDCs) could also reduce demand for Bitcoin. Together, all these factors create uncertainty for crypto investors and a basis for a correction of Bitcoin to around $100,000.
In contrast, Gemini, an AI chatbot developed by Google (NASDAQ:GOOGL), predicted a significant rise in Bitcoin’s value by the end of the year in response to a request from Bits.media. Gemini believes that new all-time highs between $120,000 and $180,000 are possible. According to Google’s neural network, the main growth drivers will be the effects of the 2024 halving, increased investments in spot BTC ETFs, and the expected easing of monetary policy by global central banks.
Another generative AI model, Grok, developed by Elon Musk’s company xAI, also told Bits.media that it forecasts a high probability of Bitcoin price growth. The price could reach $120,000 or even $160,000 by December due to a combination of political, market, and macroeconomic factors. The long-term upward trend is supported by limited supply and growing attention to cryptocurrency from governments and large corporations.
Earlier, Galaxy Digital reported that an investor who had held Bitcoin since 2011 sold 80,000 BTC for $9 billion through the company. The deal became one of the largest in the history of the crypto market.
See also: "ResearchCoin jumps 32% amid Coinbase listing plans"
