Artificial Intelligence

Bitcoin

April

Light

<p style="text-align: justify">As the artificial intelligence trend continues to rise with the launch of the viral ChatGPT chatbot, similar platforms showcase their notable abilities in analyzing trends in <a href="https://en.coin-turk.com/is-the-crash-for-bitcoin-btc-just-beginning-frightening-analysis-draws-attention/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/bitcoin-mining-company-increases-btc-production-growth-will-accelerate-with-halving/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) and altcoins. Google’s artificial intelligence platform, Google Bard, is one of them. Bitcoin, after consolidating its gains from previous weeks, continues to be priced above $36,000. At this point, Google Bard was asked about the price range at which Bitcoin could trade in early 2024. Here is the response from Google’s AI.</p>
<h2 style="text-align: justify" id="google-s-ai-points-to-a-range-of-40-000-to-60-000">Google’s AI Points to a Range of $40,000 to $60,000</h2>
<p style="text-align: justify">Google’s AI indicates a potential price range of $40,000 to $60,000 for Bitcoin in early 2024, attributing this bullish expectation to the upcoming block reward halving event, increasing institutional interest, and ongoing network developments.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-276724" src="https://coin-turk.com/wp-content/uploads/2023/11/Google-Bard-Yapay-Zeka-Bitcoin.jpeg" alt="" width="1280" height="854"></p>
<p style="text-align: justify">Google Bard emphasizes that this is only a possible price range and that the price of the largest cryptocurrency could be higher or lower at the beginning of 2024. Therefore, it warns about the importance of conducting comprehensive research and being cautious before making any investment decisions.</p>
<h2 style="text-align: justify" id="factors-that-could-affect-bitcoin-s-price">Factors That Could Affect Bitcoin’s Price</h2>
<p style="text-align: justify">Google’s AI-based chatbot also mentions a series of factors that could influence Bitcoin’s price. These factors include high volatility, such as significant value losses since reaching an all-time high of nearly $69,000 in 2021, as well as the potential positive impact of the upcoming block reward halving event, which is expected to occur in April 2024. Google Bard states that the halving reduces the reward amount given to Bitcoin miners and this could potentially lead to a decrease in supply and an increase in demand, resulting in a higher price for BTC. Additionally, it highlights the strong and passionate user and supporter community that sees Bitcoin as a decentralized and transformative <a href="https://newslinker.co/category/technology/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">technology</a>, underlining that all of these factors could contribute to long-term price increases.</p>
<p style="text-align: justify">Furthermore, Google Bard suggests that institutional investors, such as hedge funds and large companies, recognizing Bitcoin’s potential as a hedge against inflation and a store of value, could further increase their interest in Bitcoin, potentially leading to a further price increase for the largest cryptocurrency. The AI also mentions that ongoing developments in the Bitcoin network, particularly the implementation of Lightning Network for faster and cheaper transactions, could enhance the scalability and usability of the network, attracting more users and further increasing demand.</p> Continue Reading: <a href="https://en.coin-turk.com/googles-artificial-intelligence-indicates-a-price-range-of-40000-to-60000-for-bitcoin-in-2024/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/googles-artificial-intelligence-indicates-a-price-range-of-40000-to-60000-for-bitcoin-in-2024/</a>

Google’s Artificial Intelligence Indicates a Price Range of $40,000 to $60,000 for Bitcoin in 2024

Table of Contents

COINTURK NEWS

Other articles published on Nov 15, 2023

Avalanche (AVAX) and Polkadot (DOT) Eye Further Upside After Successful Support Tests: Here Are t...

BTC’s Price Breaks Key Support and Could Plummet Below $35K

The Future of AI-Agents is Decentralized: Delysium and Microsoft Partner to Mainstream AI on Bloc...

Google Bard predicts Bitcoin price for start of 2024

Judge Rejects Binance and SEC’s Request for Privacy in Legal Battle, Prioritizing Transparency

OKX partners with Komainu, CoinShares for institutional crypto trading

Join our free newsletter for daily crypto updates!