AI sets Bitcoin price for Cyber Monday 
Cryptocurrency Nov 28, 2024 Share
The question of whether – and even more so when – Bitcoin (BTC) is set to cross the long-awaited threshold at $100,000 has been the talk of the globe throughout November.
Indeed, having risen approximately 40% between election day and press time on November 28, the world’s premier cryptocurrency is closer than ever to the ambitious target and even found itself within $1,000 of the six digit figure on November 22.
Still, the high volatility and several successive corrections – started in earnest on Sunday, November 24 – have reignited the question of whether $100,000 is truly within reach or if a plunge toward $80,000 would come first.
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With the current setup having the coin somewhere in between Bitcoin’s current price of $95,413, Finbold decided to consult one of the most advanced artificial intelligence (AI) models available to determine whether investors will be welcomed back from Thanksgiving by BTC at the new all-time high (ATH) or something entirely different.
BTC 30-day price chart. Source: Finbold
ChatGPT predicts BTC price after Thanksgiving
ChatGPT-4o proved rather direct when predicting Bitcoin’s Cyber Monday price. It estimated that the current momentum, driven by heightened institutional interest and investor bullishness but tempered by the likely lower volume and amplified volatility, would lead to BTC at $99,200.
ChatGPT sets Bitcoin price target for Cyber Monday. Source: Finbold & ChatGPT-4o
When asked about the lower volatility, the AI explained that multiple studies – such as the one conducted in 2022 by Arcane Research and transmitted by Finbold, among other outlets – indicate that the U.S. accounts for much of the cryptocurrency market trading volume.
With the stock market closed during the holidays and investors generally seeking to distance themselves temporarily from the buzz, fewer people are likely to be active between Thursday, November 28, and Cyber Monday, December 2.
Still, ChatGPT pointed out that this likely low volume will increase volatility generated by each individual trade but also warned that the situation might still not favor extreme moves.
AI forecasts when Bitcoin will finally hit $100,000
Additionally, when asked what are the likely outer bounds of Bitcoin’s price range before it hits the forecasted $99,200 on Cyber Monday, the AI explained they stand at $94,000 – indicating corrections akin to what was seen on Tuesday, November 26, are unlikely – and at $100,500 – thus confirming it believes a new all-time high (ATH) will be set but not maintained.
ChatGPT estimates the likely BTC price range in trading between Thanksgiving and Cyber Monday. Source: Finbold & ChatGPT-4o
ChatGPT was also asked to predict when BTC would hit the predicted high point, and it explained that the current trends indicate it will happen on Saturday, November 30.
ChatGPT predicts when BTC will hit the Thanksgiving to Cyber Monday trading range top. Source: Finbold & ChatGPT-4o
Finally, the AI provided the specific time when Bitcoin is expected to climb $500 above the long-awaited $100,000: 3 PM UTC – 10 AM EST.
Featured image via Shutterstock
