Ethereum

Ethereum 2.0

Bitcoin

<div class="finbold">
 <p class="paragraph">The weight that Bitcoin (BTC) carries in the cryptocurrency world is not to be underestimated, as its performance usually dictates the broader market. With Ethereum (ETH) next in line, it is logical that it is the first one to benefit or slump from BTC’s events.</p>
 <p class="paragraph">After the SEC approved BTC exchange-traded funds (ETF) in January, sights are already set toward the next notable event, Bitcoin <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>, which is set to take place in mid-April 2024.&nbsp;</p>
 <p class="paragraph">This week was notable for Ethereum as it surpassed its resistance zone set at $2,800 and is currently trading at $2,835 after gains that have seen its value increase by 1.48% on daily and 13.67% on weekly charts.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/02/16/6be253ce664fa1bf0863a4d93cd6ba49.webp" alt="ETH 7-day price chart. Source: Finbold" class="wp-image-155436" srcset="https://cdn.thebittimes.com/images/2024/02/16/6be253ce664fa1bf0863a4d93cd6ba49.webp 1024w, https://cdn.thebittimes.com/images/2024/02/16/6be253ce664fa1bf0863a4d93cd6ba49.webp 300w, https://cdn.thebittimes.com/images/2024/02/16/6be253ce664fa1bf0863a4d93cd6ba49.webp 768w, https://cdn.thebittimes.com/images/2024/02/16/6be253ce664fa1bf0863a4d93cd6ba49.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ETH 7-day price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">In its pursuit of insights, Finbold opted to seek counsel from OpenAI’s premier platform, ChatGPT, regarding the potential trajectory of the world’s leading altcoin as the <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> event unfolds.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picked for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Short squeeze alert for next week: Two cryptocurrencies with pump potential <span class="self-center text-xs text-slate-500">24 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Expert warns of ‘most predictable forthcoming inflation crisis ever,’ blames FED and Yellen <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    The secret moves tech giants use to manipulate stock <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Robert Kiyosaki slams the Fed as criminal; Names assets to trust <span class="self-center text-xs text-slate-500">4 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-chatgpt-makes-a-prediction-on-the-ethereum">ChatGPT makes a prediction on the Ethereum</h2>
 <p class="paragraph">Although ChatGPT didn’t provide a precise figure, it’s rational to anticipate some <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> fluctuation for Ethereum in light of the historical correlation between Bitcoin and Ethereum <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s.&nbsp;</p>
 <p class="paragraph">Nevertheless, factors like Ethereum’s ongoing development, expanding usage in decentralized finance (DeFi), and forthcoming upgrades like Ethereum 2.0 suggest a broader context beyond mere volatility.</p>
 <p class="paragraph">However, considering historical movements, the most likely <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> range was from $8,000 to $12,000.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="612" height="45" src="https://cdn.thebittimes.com/images/2024/02/16/d5c7d6f4d7bcdccf393a8048570c65b3.webp" alt="The most likely price range for ETH after BTC halving. Source: Finbold and ChatGPT" class="wp-image-155437" srcset="https://cdn.thebittimes.com/images/2024/02/16/d5c7d6f4d7bcdccf393a8048570c65b3.webp 612w, https://cdn.thebittimes.com/images/2024/02/16/d5c7d6f4d7bcdccf393a8048570c65b3.webp 300w" sizes="(max-width: 612px) 100vw, 612px">
  <figcaption class="wp-element-caption">
   The most likely price range for ETH after BTC halving. Source: Finbold and ChatGPT
  </figcaption>
 </figure>
 <p class="paragraph">This range derives from Ethereum’s past price trends, its prominent status as the foremost smart contract platform, and the overall expansion path of the cryptocurrency market.</p>
 <h2 class="wp-block-heading" id="bullish-scenario">Bullish scenario</h2>
 <p class="paragraph">In an optimistic scenario, Ethereum might witness notable price escalation fueled by heightened institutional investment, widespread adoption of decentralized applications (dApps), and the successful execution of Ethereum 2.0 upgrades, resulting in enhanced scalability and reduced transaction fees.&nbsp;</p>
 <p class="paragraph">This could drive ETH’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> toward the upper range from $15,000 to $20,000.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="605" height="86" src="https://cdn.thebittimes.com/images/2024/02/16/6e3512b3a8299929adb085be8940859c.webp" alt="Bullish scenario for ETH. Source: Finbold and ChatGPT" class="wp-image-155438" srcset="https://cdn.thebittimes.com/images/2024/02/16/6e3512b3a8299929adb085be8940859c.webp 605w, https://cdn.thebittimes.com/images/2024/02/16/6e3512b3a8299929adb085be8940859c.webp 300w" sizes="(max-width: 605px) 100vw, 605px">
  <figcaption class="wp-element-caption">
   Bullish scenario for ETH. Source: Finbold and ChatGPT
  </figcaption>
 </figure>
 <p class="paragraph">This scenario also considers the broader upsurge in the cryptocurrency market driven by favorable regulatory changes or macroeconomic instability.</p>
 <h2 class="wp-block-heading" id="bearish-scenario">Bearish scenario</h2>
 <p class="paragraph">Conversely, in a pessimistic scenario, external factors like regulatory crackdowns, vulnerabilities in smart contracts, or scalability hurdles associated with Ethereum 2.0 could erode investor trust and trigger a wave of selling.</p>
 <p class="paragraph">Which would, in turn, lower the predicted range from $5,000 to $7,000.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="597" height="85" src="https://cdn.thebittimes.com/images/2024/02/16/a3fdda49160935c3a2583cff4d33d724.webp" alt="Bearish scenario for ETH. Source: Finbold and ChatGPT" class="wp-image-155439" srcset="https://cdn.thebittimes.com/images/2024/02/16/a3fdda49160935c3a2583cff4d33d724.webp 597w, https://cdn.thebittimes.com/images/2024/02/16/a3fdda49160935c3a2583cff4d33d724.webp 300w" sizes="(max-width: 597px) 100vw, 597px">
  <figcaption class="wp-element-caption">
   Bearish scenario for ETH. Source: Finbold and ChatGPT
  </figcaption>
 </figure>
 <p class="paragraph">Furthermore, should there be a general downturn in the market or a substantial drop in Bitcoin’s price following the halving, Ethereum could face increased selling pressure.</p>
 <p class="paragraph">Interestingly, across all projected scenarios, the price of ETH is anticipated to rise by at least 50% in the least favorable scenario and potentially soar by over 600% in the most optimistic outlook.</p>
 <p class="paragraph">However, it’s crucial to remember that these are merely forecasts, and numerous variables from the broader market, which can be exceptionally volatile, must be considered.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/we-asked-chatgpt-what-will-be-ethereum-price-after-2024-bitcoin-halving-tbt80013.html">https://thebittimes.com/we-asked-chatgpt-what-will-be-ethereum-price-after-2024-bitcoin-halving-tbt80013.html</a></p>

We asked ChatGPT what will be Ethereum price after 2024 Bitcoin halving

Table of Contents

TheBitTimes

Other articles published on Feb 16, 2024

BFT Attacks on Bitcoin and Ethereum No Longer Economically Feasible: Research

401k Bitcoin Retirement Investments Will Boom in 2024: Standard Chartered Analyst

Bitcoin Price Might Surge 30% in Coming Weeks If This Happens

Ethena Labs Attracts $14 Million Investment for Synthetic Dollar Project

ApeCoin Set for Major Token Release: Stakeholders’ Share Breakdown

Despite a 40% Jump, Here’s Why Vechain (VET) Price May Remain Stuck Below $0.053 For Another Few ...

Join our free newsletter for daily crypto updates!