AI predicts Bitcoin price to $300k by 2024 because of Bitcoin spot ETFs
Popular AI chatbot ChatGPT predicted that approval of Bitcoin spot ETFs will bring a very big rally and that will help Bitcoin to easily hit a $300,000 trade price.
Bitcoin spot ETF is a centralized financial product that aims to allow people to invest in Bitcoin on behalf of the product issuer. So far to date, no Bitcoin spot ETF products is in existence in the US jurisdiction. Currently, nearly a dozen fund fund managers are in queue to get regulatory approval from the United States Securities and Exchange Commission (SEC) to launch their corresponding Bitcoin spot ETF products. As per reports, the SEC body will give a green signal to these applications in the next 5 months.
Because of the hype of Bitcoin spot ETF approval possibilities, the majority of retail traders are rapidly buying Bitcoin to gain huge profits in the next bull run which is expected in 2024.
The sentiment of Bitcoin buy pressure is clearly visible in the Bitcoin trade price graph.
Recently a Bitcoin proponent asked OpenAI’s artificial intelligence (AI) high-tech chatbot ChatGPT to predict the trade price of Bitcoin after the approval of Bitcoin spot ETF applications.
ChatGPT predicted that approval of Bitcoin spot ETF before the end of 2023 will help Bitcoin to easily touch $100k and after that, it will go beyond the $300k in the next year.
I asked Chat-GPT if BlackRock's spot #Bitcoin ETF is approved in 2023, what price to expect by 2024
— The ₿itcoin Therapist (@TheBTCTherapist) October 24, 2023
Conservative: Tens of thousands – $100K
Moderate: $100,000 – $300,000
Aggressive: > $300,000 +
"In a more aggressive scenario with strong adoption and investor interest,… pic.twitter.com/YPJVouQ00a
In the present time 10 top fund manager companies are in queue to get approval from the US SEC to launch their product and surely they will succeed. But the interesting thing is that all these companies will purchase Bitcoin to deliver smooth Bitcoin ETF trading services to the customers.
In short, the demand for Bitcoin is going to surge by several folds in the next 24 months and in that situation it will be very easy for Bitcoin to hit $200k.
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