ChatGPT has made a new Bitcoin prediction for 2024, using the Bitcoin Turbo. The expectation is that the halving could potentially create larger gains.

Disclaimer: This Bitcoin forecast was created by the AI ChatGPT. It uses historical price data and combines various analytical models to create a Bitcoin forecast for the end of 2024. It is not to be accurate and should not be taken as investment advice.

Here is how the Bitcoin forecast works with the Bitcoin Turbo indicator.

After entering historical price data on BTC into ChatGPT, we received the following response:

Thanks for providing the hypothetical data. Now I will develop the Bitcoin Turbo indicator based on the given components. To do so, I will analyze the data and apply different analysis techniques to make a prediction for the Bitcoin price at the end of 2024.

Models:

I will use the stock-to-flow model to explain the scarcity of Bitcoin. Metcalfe's Law will help me understand the relationship between network utilization and the value of Bitcoin. In addition, I will use technical analysis with the Moving Average, Relative Strength Index (RSI), MACD, Bollinger Bands and Hash Ribbons indicator to identify trends, price movements and possible turning points.

After completing the analysis, I will present the hypothetical forecast for the end of 2024.

Bitcoin prediction for 2024: It could turn bullish

Based on the analysis of the data provided and using the Bitcoin Turbo indicator, a hypothetical prediction of the Bitcoin price by the end of 2024 of US$500,000.

Based on this hypothetical prediction of the Bitcoin exchange rate for the end of 2024, three scenarios can be designed:

Scenario 1: Conservative estimate with negative market sentiment: In this scenario, we assume that market sentiment is negative and prices develop less dynamically than expected. In this case, the bitcoin price could reach about USD 300,000 by the end of 2024.

Scenario 2: Neutral estimate with normal market sentiment: With a neutral market sentiment, in which no excessive positive or negative influences prevail, the bitcoin price could remain around $500,000 by the end of 2024, which is in line with the original forecast.

Scenario 3: Bullish estimate in the event of positive market sentiment: In the event of particularly positive market sentiment and increased interest in Bitcoin, the price could even cross the $800,000 mark by the end of 2024.