The first crypto is planning for a new month
As the month of October comes to an end, the price of Bitcoin is currently in a good position. Even if the increase is not as impressive as hoped, more than 10% has still been gained. A result which could further improve by October 31. Due to the positive BTC news, BeInCrypto asked the ChatGPT artificial intelligence about the Bitcoin price. Discover the AI predictions about the world’s first crypto for November 2024.
As a reminder, the month of November is historically a bullish month for BTC. Indeed, since the 11th month of the year ended twice as many times in the green as in the red. Last year, these 30 days were positive, with a final moderate gain of 8.81%.
To go further: here’s how to invest in Bitcoin ETFs.
Several important episodes could potentially bring volatility to the price of Bitcoin in November, with for example the American presidential elections, which will take place on Tuesday 5. Then, the FED’s decision will be carefully scrutinized with regard to rates. of interest with the possibility of a further decline. But again, the following week, on November 13 to be precise, the US inflation figures for the month of October will be available.
ChatGPT leans towards a rise in Bitcoin
As is often the case, the ChatGPT artificial intelligence prepared three different scenarios for us, ranging from the least optimistic to the most optimistic. But still, the AI developed by OpenAI also told us the most likely scenario of the three.
With a rather successful month of October for BTC, ChatGPT expects the current rise to continue. The month of November could therefore be tinged with green, with an upward trajectory to be expected. In any case, this is what the AI envisages, announcing a price target above $78,000. The probability of success for this scenario is 40% according to ChatGPT, with institutional demand and the success of ETFs at the center of the predictions.
Then, the moderate scenario also expects a rise in Bitcoin, but on a less significant rise. The probability of success is also high, reflecting the prevailing bullish sentiment for ChatGPT. The AI gives a 40% probability of success for this prediction with a price target between $72,000 and $75,000. While a new ATH would be a formality with the bullish scenario, it could also be a possibility with the moderate scenario.
To go further: price predictions for Bitcoin in 2024, 2025 and 2030.
Finally, the third scenario relies on a slight correction in the price of Bitcoin. ChatGPT doesn’t really expect this scenario to succeed, but it has been prepared all the same. The AI estimates that the success percentage of this scenario is 20%, while the announced price range is between $65,000 and $68,000.
Moral of the story: ChatGPT puts all its eggs in one basket.
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, we encourage readers to verify the facts on their own and consult a professional before making any decision based on this content.
