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- 📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Bitcoin Price Prediction by ChatGPT for December
With a 34% price increase last week, the price of BTC is trading 3% below its all-time high of $99.655. The market cap remains at $1,915 billion while still maintaining market dominance at 56.43%. Amid such positive figures, the wider market predicts that the price of BTC will surpass $100,000 in the first week of December. However, the volatility of the wider market and changing global market conditions are important factors to note as 2024 ends. We've asked ChatGPT to predict the price of BTC in the coming month when cryptocurrency enthusiasts predict the final price surge of 2024 will soon begin. So, without further ado, let's take a look at ChatGPT's Bitcoin price prediction. Bitcoin Performance On the 4-hour chart, the price action of BTC has surged out of the triangle pattern. The breakout failed to surpass the $99,000 mark and is currently retesting the broken trendline.
The current 4-hour candle with a 0.31% price increase reflects fundamental forces trying to reverse after retesting. Based on Fibonacci levels, the BTC price is within the 50% and 61.80% boundaries. The scope of consolidation will determine the price trend in 24 hours and may shape the rhythm for the beginning of December. A breakout in price will propel the price of BTC to reach $100,000 for the first time in history and create a new all-time high of 6 digits. Furthermore, the MACD line and the signal line continue to maintain a positive correlation. On the other hand, the important support level remains at $95,000. So, let's see what ChatGPT predicts about the price trend of Bitcoin in December. ChatGPT's Prediction on Bitcoin Reaching $100,000 To find accurate price predictions from ChatGPT, we have provided AI with the ongoing price trends and monthly and quarterly profits in history. Based on this data, the cautious estimate for Bitcoin price is a profit of 5-10% compared to the closing price in November. This figure estimates that Bitcoin will be in the range of $101,600 to $106,500. Therefore, GPT expects BTC to definitely surpass the $100,000 mark in the coming month.
In case of optimistic approach, the upward momentum will push Bitcoin price up 20-25%. This will drive the market price of a Bitcoin to $116,000 to $120,000.