The persistent enthusiasm encompassing artificial intelligence (AI), rekindled by OpenAI’s launch of the text-based marvel ChatGPT, remains unabated. Other contenders within the expansive landscape of generative AI have emerged within this fervor, with Google Bard emerging as a noteworthy player.
While a prevailing bearish sentiment envelops the majority of assets within the cryptocurrency domain, the reverberations of SpaceX’s deliberations regarding its Bitcoin (BTC) holdings continue to resonate. The contentious assertion of a write-off by SpaceX has been cast into the narrative, assumed by some as a pivotal instigator behind the precipitous descent in Bitcoin’s valuation.
Finbold sought out Google Bard’s expertise to predict how much Bitcoin could be worth in the next crypto bull market and whether this market will happen around the same time as the anticipated Bitcoin halving event.
Google Bard prediction
Google Bard notes that the price of Bitcoin in the next bull market is uncertain, but it is likely to be significantly higher than the current price.
The previous two halving events were followed by significant bull runs, with the price of Bitcoin increasing by 10x and 4x, respectively. There is no guarantee that the same will happen in 2024, but the halving is likely to be a major catalyst for the next bull run.
The LLM noted The upcoming halving event in April 2024, which will reduce the supply of Bitcoin by half, could drive up the price.
It also highlighted the adoption of Bitcoin by institutions and businesses and the overall state of the global economy as two more factors.
According to some analysts, the price of Bitcoin could reach $100,000, $200,000 or even $1 million by 2024. However, others are more cautious and predict a price of around $50,000. Ultimately, the price of Bitcoin will depend on a number of factors, including the overall state of the economy, the level of adoption by institutions, and the regulatory environment.
Bitcoin price analysis
As things stand, Bitcoin is changing hands at the price of $26,013, representing a decline of 0.34% on the day, an 11.53% loss over the past week, as per the data retrieved on August 21.
Overall, it is too early to say what the price of Bitcoin will be in the next bull run. However, the halving event is likely to be a significant catalyst, and the price could reach significantly higher levels than it is today.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
