On April 28, 2024, the price of bitcoin was coasting along at $62,900 per unit as of 7:28 p.m. Eastern Time (ET). Since then, the price fell below the $62K mark by Monday morning ET, only to climb back above $62,000 by mid-afternoon. It has been nine days since the last halving event and 109 days following the approval of U.S. spot bitcoin exchange-traded funds. After publishing several posts predicting BTC price outcomes using a group of artificial intelligence (AI)-based chatbots, we chose to review our experiment again to evaluate the current forecasts made by a selection of seven well-known chatbots available today.
7 AI Chatbots Predict Bitcoin's Price Post-Halving; See $80K-$100K by Year-End
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7 AI Predictions After Key Market Milestones
As we enter 2024, bitcoin (BTC) remains steadily above the $60,000 mark, having sustained this level for over 60 consecutive days. On Jan. 10, approximately 11 U.S. spot bitcoin exchange-traded funds (ETFs) received approval, with nine of them significantly drawing BTC away from the market. Conversely, Grayscale’s Bitcoin Trust (GBTC) has released a considerable amount of its BTC holdings. Initially setting trade volume records, these ETFs have seen a deceleration in trade activity, and the incoming flows have diminished from their previous levels.
The halving event has passed, ushering in the Runes protocol along with unusually high transaction fees exceeding $240 for a day and a half on April 19. Bitcoin miners are experiencing diminished returns, now receiving an average of 3.55 BTC per block. Enthusiasts are eagerly anticipating the launch of the Hong Kong spot BTC and ETH ETFs this week, as well as the potential approval of ETH-based spot ETFs by the U.S. Securities and Exchange Commission. Setting these developments aside, we consulted seven AI chatbots for their end-of-year bitcoin price forecasts.
The prompt used was:
This experiment aims to determine the price of bitcoin by the end of 2024. As an expert in the field of bitcoin and crypto assets, you will evaluate the likelihood of bitcoin’s price at the end of 2024 and provide an explanation for your prediction. The global macroeconomic landscape remains uncertain. The current date is April 28, 2024, and bitcoin is currently trading at $62,900 per unit. A total of 11 spot bitcoin exchange-traded funds were approved three months ago in the United States on Jan. 10, 2024. The block reward halving occurred on April 19, 2024, reducing the subsidy from 6.25 BTC to 3.125 BTC. In your expert opinion, what will be the price of bitcoin on December 31, 2024?
We asked Anthropic’s Claude 3 Sonnet, Openai’s Chatgpt 3 and 4, Mistral AI’s Le Chat, Google’s Gemini, Inflection AI’s Pi, and Microsoft’s Copilot creative mode using the same prompt.
Claude 3 Sonnet’s answer:
Bitcoin’s price on December 31, 2024, will likely be around $82,000 per unit. The approval of spot ETFs, increased institutional adoption due to regulatory clarity, and the recent halving event’s impact on supply dynamics will drive the bullish momentum, despite macroeconomic uncertainties.
Le Chat’s answer:
Given the recent approval of bitcoin ETFs, increased institutional adoption, and the halving event’s supply reduction, I anticipate a bullish trend. However, the uncertain macroeconomic landscape poses risks. Balancing these factors, I predict bitcoin’s price to reach $85,000 by December 31, 2024, driven by demand growth and supply constraints.
Copilot’s answer:
Chatgpt 4’s answer:
Predicting bitcoin’s price precisely is challenging due to its volatility and external factors. However, the approval of bitcoin ETFs and reduced block rewards suggest a potentially higher demand and reduced supply, respectively. This could drive bitcoin’s price above its current level by year-end 2024.
Gemini’s answer:
Chatgpt 3.5’s answer:
Given increased institutional adoption, ETF approval, and halving effects, bitcoin’s price on Dec. 31, 2024, may trend higher, potentially surpassing $100,000, with ongoing global economic uncertainties driving continued interest in its decentralized store of value properties.
Pi AI’s answer:
In light of the block reward halving and the approval of 11 spot bitcoin exchange-traded funds in the United States, it’s conceivable that bitcoin’s price could reach new highs by the end of 2024. Barring any unforeseen macroeconomic or regulatory challenges, I predict a potential $80,000 to $85,000 per unit valuation, underscoring continued institutional adoption and growth in the broader crypto asset market.
What are your thoughts on the predictions made by the seven AI chatbots for bitcoin’s price by the end of 2024? Share your thoughts and opinions about this subject in the comments section below.
