ChatGPT Sets Bitcoin, Ethereum, XRP Price Predictions for 2024

The post ChatGPT Sets Bitcoin, Ethereum, XRP Price Predictions for 2024 appeared first on Coinpedia Fintech News

ChatGPT, OpenAI’s widely-used AI model, has generated some exciting price predictions for Bitcoin, Ethereum, and XRP.

The model suggests that these three cryptocurrencies could be poised for significant growth, based on the alignment of fundamental and technical factors.

ChatGPT is also optimistic about a new crypto project called Bitcoin ETF (BTCETF), which it predicts could see substantial gains in the next 12 months.

ChatGPT Predicts Bitcoin Could Hit $60k in 2024

ChatGPT’s first price prediction is for Bitcoin, the world’s largest cryptocurrency by market cap and trading volume.

Despite Bitcoin currently trading around $37,310, the AI model forecasts a rally to between $50,000 and $60,000 by the end of 2024.

This optimistic outlook from ChatGPT is based on a combination of several factors.

First, it expects overall crypto sentiment to remain bullish following the bear market seen throughout 2022.

Second, there is growing anticipation for the SEC’s potential approval of spot Bitcoin ETFs, which could lead to wider mainstream and institutional adoption.

Lastly, ChatGPT notes Bitcoin’s firm standing as the go-to store of value in the crypto market.

With these tailwinds, ChatGPT sees Bitcoin reaching as high as $60,000 in the next 12 months, a 61% increase from its current price.

ChatGPT Forecasts Ethereum Rally to $3,500 Next Year

Shifting focus to Ethereum, the world’s second-largest cryptocurrency, ChatGPT has a similarly upbeat tone for 2024, despite ETH’s price hovering just above $2,000.

The AI model sees Ethereum rising to a peak between $3,000 and $3,500 by the end of next year, fueled by bullish crypto sentiment and ongoing upgrades to the Ethereum network.

ChatGPT cites Ethereum’s extensive utility in decentralized finance (DeFi) and NFTs as key demand drivers for ETH.

Additionally, the model points to major upgrades slated for the Ethereum network over the next two years, including critical developments to scalability and efficiency.

With these factors all aligning, ChatGPT sees ETH continuing to gain ground in the months ahead.

Should ETH hit ChatGPT’s upper target of $3,500, it would represent a 70% rise from today’s price.

ChatGPT Bullish on XRP & Sets $1.50 Price Target for 2024

Moving on to XRP, ChatGPT sees further growth on the horizon for Ripple’s native token.

The AI model sees XRP continue pushing higher and regaining investor confidence after emerging victorious from its legal battle with the SEC.

According to ChatGPT, XRP could soar to between $1.00 and $1.50 in 2024, putting the token at its highest level since May 2021.

The fact that XRP has proven itself not to be a security is one of the key factors driving ChatGPT’s bullish forecast.

Now, XRP has the scope to create new partnerships and use cases, especially in the area of cross-border payments where the token has utility advantages.

Overall, ChatGPT is highly optimistic about XRP’s prospects, hinting that the token’s current muted price action may only be temporary.

Which Other Coins is ChatGPT Bullish On?

Beyond its positive outlook for major cryptocurrencies Bitcoin, Ethereum, and XRP, ChatGPT also has its sights on some lesser-known tokens.

Specifically, the AI model holds a bullish view on Bitcoin ETF Token (BTCETF), a new crypto asset aiming to profit from the narrative around SEC-approved spot BTC ETFs.

ChatGPT Bullish on Bitcoin ETF Token, Predicts 792% Upside for Presale Investors

Bitcoin ETF Token’s tokenomics align with key milestones in the spot ETF approval process.

As each milestone is reached, a portion of the total 2.1 billion BTCETF supply will be burned, reducing it to 1.57 billion tokens once all milestones are hit.

This deflationary mechanism aims to reward long-term holders by potentially increasing the scarcity and value of BTCETF as the supply diminishes over time.

The project’s whitepaper notes that each BTCETF transaction will incur a 5% tax that destroys the related number of tokens.

As each ETF-related milestone is achieved, this tax is reduced by 1%, with the plan to phase it out entirely once Bitcoin reaches $100,000.

Bitcoin ETF Token is not yet available on the open market, although early investors can buy BTCETF during the presale phase, which has already raised over $1.4 million.

ChatGPT is bullish on BTCETF’s growth potential, citing the positive market reaction to a potential spot BTC ETF approval as a key factor.

Considering this, ChatGPT predicts BTCETF could reach an ambitious $0.02 to $0.05 by the end of 2024 – representing a potential rally of 792% from the current presale price.

While purely hypothetical, this prediction showcases the potential for significant growth in BTCETF, particularly in the event of a spot Bitcoin ETF approval.

Investors interested in the presale can buy BTCETF tokens for $0.0056 using ETH or USDT.