Bitcoin Will Hit $100,000 This Year, Artificial Intelligence And These Experts Predict
Since its launch in 2009, Bitcoin, the world’s first decentralized cryptocurrency, has had its own ups and downs.
Many have questioned the viability and future of the cryptocurrency industry after its spectacular rise and catastrophic crashes. However, despite the ambiguity, the alpha coin has persisted in its growth, and experts anticipate that the digital asset will experience tremendous growth in 2023.
ChatGPT Sees Bitcoin Hitting $100,000 This Year
According to ChatGPT, a linguistic model built on patterns and data analysis, Bitcoin will reach its highest price to date in 2023, peaking between $100,000 and $120,000.
The outlook is supported by several elements, such as the current bullish market trend, increasing levels of mainstream use, and increasing institutional investment.
The influx of institutional investors into the cryptocurrency market has been one of the main factors driving the price of BTC lately.
Significant investments in crypto by well-known companies like MicroStrategy and Tesla indicate a shift in the public’s perception of virtual currency.
Further establishing Bitcoin’s credibility and expansion potential, there are plans to offer cryptocurrency trading and investment services to clients of major financial organizations such as Goldman Sachs and JPMorgan.
As more people become comfortable with the idea of utilizing digital assets for regular transactions in 2023, this trend is likely to continue, significantly increasing the value and market size of BTC.
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Growing regulatory clarity could help Bitcoin flourish in 2023
Governments and regulatory agencies around the world are starting to regulate the cryptocurrency market more actively, which can increase investor confidence and market stability.
The cryptocurrency market, it should be noted, is incredibly volatile and prone to extreme volatility. Therefore, any investment in Bitcoin or other cryptocurrencies should be conducted with caution and only after extensive research.
Even though ChatGPT predicts that Bitcoin will continue to grow in 2023, unforeseen events can always happen and have an unpredictable effect on the market.
A high price of between $100,000 and $120,000 is predicted for Bitcoin this year, which is already showing signs of rapid growth.
The adoption of cryptocurrencies by the general public, more institutional investments and regulatory clarification are potential drivers of its rise.
But it is crucial to exercise prudence when making any investment in cryptocurrency and keep abreast of industry trends and advances.
What (human) analysts predict
Analysts and institutional investors alike agree with ChatGPT’s prediction that Bitcoin will hit an all-time high this year as the cryptocurrency’s rise gathers momentum.
According to Marshall Beard, director of strategy at cryptocurrency exchange Gemini, “I think Bitcoin is likely to break all-time highs this year,” adding that “the $100,000 price is an ‘interesting number if bitcoin hits its previous high. of nearly $69,000′”.
For his part, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, said that Bitcoin will reach $100,000 by 2025 instead of this year and that the cryptocurrency market will thrive as a “revived bull market”.
Bitcoin (BTC) and US Dollar (USD) pair loses $30K handle and now at $29,167 on the daily chart at TradingView.com
As more people are using crypto assets, Goldman Sachs Group believes that Bitcoin will continue to overtake the precious metal as the market share leader, potentially hitting the widely publicized price prediction of $100,000.
According to a recent study by Deutsche Bank, nearly 25% of BTC investors believe the cryptocurrency would cost more than $100,000 in five years.
Source: CoinMarketCap
At the time of writing, Bitcoin is trading at $29,532, down 1.77% over the past seven days, shows data from crypto market tracker CoinMarketCap.
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