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Bitcoin will surpass $100,000

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calendar 22-04-2024

Bitcoin (BTC) completed its fourth halving, leaving the market in anticipation of whether this event will play a historic role as a growth catalyst.

To gain insights into how Bitcoin is likely to trade post-halving, Finbold consulted the artificial intelligence model Claude 3 Opus from Anthropic, which is considered a superior tool compared to OpenAI's ChatGPT.

Based on historical data and observations from previous halvings, Claude AI's analysis showed that Bitcoin is poised for significant price growth following this latest event. For example, the tool indicated that after the event in May 2020, Bitcoin's price surged from around $8,000 to an impressive $64,000 within a year, highlighting the significant impact of halving on the cryptocurrency's valuation.

Bitcoin to surpass $100,000

Assuming Bitcoin trades above the $64,000 level after the 2024 halving, the tool noted that this position provides a strong foundation for further growth in the coming months. Thus, considering various factors, Bitcoin could potentially rise to a new record above $100,000. It's worth noting that the artificial intelligence model did not provide a specific timeframe for when this milestone might be achieved.

The forecasts of the AI model also took into account the increasing institutional adoption of Bitcoin and the current market sentiment. However, the AI model emphasized the importance of caution, warning that price estimates are subject to general market fluctuations.

Bitcoin's volatility

Despite the price forecasts of the AI tool, Bitcoin has recently experienced increased price volatility, primarily due to geopolitical tensions. However, amid this volatility, the leading cryptocurrency has stabilized its valuation above the $60,000 support zone.

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