Bitcoin will reach $100,000 this year, predict artificial intelligence and these experts
Since its launch in 2009, Bitcoin, the first decentralized cryptocurrency in the world, has had its own ups and downs.
Many have questioned the viability and future of the cryptocurrency industry in the wake of its spectacular rise and disastrous fall. Still, despite the ambiguity, the alpha coin has continued its growth, and experts expect the digital asset to experience massive growth in 2023.
ChatGPT sees Bitcoin hitting $100,000 this year
According to ChatGPT, a linguistic model built on data patterns and analysis, Bitcoin will reach its highest price yet in 2023, peaking between $100,000 and $120,000.
The outlook is supported by a number of elements, such as the current optimistic market trend, increasing levels of mainstream usage and increasing institutional investment.
The influx of institutional investors into the cryptocurrency market has been one of the main factors boosting the BTC price recently.
Significant investments in crypto from well-known companies such as MicroStrategy and Tesla indicate a shift in the public’s perception of the virtual currency.
Further establishing Bitcoin’s credibility and expansion potential are plans to offer cryptocurrency trading and investment services to clients from major financial organizations such as Goldman Sachs and JPMorgan.
As more people become comfortable with the idea of using digital assets for regular transactions in 2023, this trend is likely to continue, significantly increasing BTC’s value and market size.
Image: NURPHOTO VIA GETTY IMAGES
Increasing regulatory clarity could help Bitcoin flourish in 2023
Governments and regulatory agencies from around the world are beginning to regulate the cryptocurrency market more actively, which can increase investor confidence and market stability.
The crypto market, it should be noted, is incredibly volatile and prone to extreme volatility. Therefore, any investment in Bitcoin or other cryptocurrencies should be done with caution and only after extensive research.
Although ChatGPT expects Bitcoin to continue to grow in 2023, unforeseen events can always happen and have an unforeseen effect on the market.
A high price of between $100,000 and $120,000 is expected for Bitcoin this year, which is already showing signs of rapid growth.
Public adoption of cryptocurrencies, more institutional investment and regulatory clarification are all potential drivers of their rise.
But it is crucial to exercise caution while making cryptocurrency investments and keep up with industry trends and advancements.
What (human) analysts predict
Analysts and institutional investors agree with ChatGPT’s prediction that Bitcoin will reach its all-time high this year as the cryptocurrency rally gains momentum.
According to Marshall Beard, Chief Strategy Officer of cryptocurrency exchange Gemini, “I think Bitcoin is likely to break all-time highs this year,” adding that “the $100,000 price figure is an “interesting number, if bitcoin reaches its previous record 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 use cryptoassets, Goldman Sachs Group believes that Bitcoin will continue to overtake the precious metal as the market share leader, potentially reaching the widely stated price forecast of $100,000.
According to a recent study by Deutsche Bank, almost 25% of BTC investors believe that the cryptocurrency will cost more than $100,000 in five years.
Source: CoinMarketCap
At the time of writing, Bitcoin was trading at $29,532, down 1.77% in the past seven days, data from crypto market tracker CoinMarketCap shows.
– Selected image from TCD
