Bitcoin
When will the price of BTC start rising?
After a massive 15% drop in April, Bitcoin price is struggling to start the next bull run. As the market anticipates a big bounce after Bitcoin’s fourth halving, BTC price struggles near the $60,000 level.
The market gets scared as the halved moth turns red and the supply increases. Furthermore, the 9 Bitcoin ETFs in the US market have failed to make any significant upward moves in recent weeks.
Contrary to the historical price trend suggestion of an extraordinary bull run, current market sentiments highlight certain speed bumps. So we asked ChatGPT to predict when the Bitcoin bull run will begin.
Bitcoin Price Performance
In the short-term scenario, Bitcoin price trend is under extreme supply pressure, evident from the continuous pullback. As the pullback intensifies, BTC price is poised to breach $60,000 support twice in a matter of days. Thus, the largest cryptocurrency, dominating almost 53% of the industry, is losing its bullish grip.
BTC price is currently trading at $60,810 with a Doji candle forming on the monthly chart. Furthermore, the 5% drop this week puts the support zone at risk and warns of a decline.
However, if the story remains true, Bitcoin is awaiting a pivotal point for a major bull run in 2024. So let’s ask the Artificial Intelligence, ChatGPT, to predict when the bull run will begin.
ChatGPT predicts Bitcoin surge in June!
By providing the AI model with our price analysis and the monthly chart marking the Bitcoin halving, ChatGPT provides a bullish view. With high expectations of a bull run, AI predicts that the bull run will begin in June at a gradual pace.
However, the dynamic uptrend could increase in November, following the recovery from October.