It’s been a challenging few weeks for Bitcoin (BTC) holders, with the coin’s value plummeting since the end of August.
However, with BTC having posted a bullish close in the past three days, ChatGPT has weighed in with its thoughts on whether this rebound can last for the entirety of Q4 2023.
ChatGPT has also highlighted the new Bitcoin derivative, Bitcoin BSC (BTCBSC), as another coin that could experience significant growth this quarter.
Bitcoin’s Bullish Rebound Prompts Uptick in Investor Positivity
Bitcoin is currently priced at $26,680, having bounced off the support zone around $25,000.
This support zone held firm back in mid-June, indicating a high volume of buy orders in the area.
As a result of this week’s rebound, Bitcoin’s price has risen above the 20-day Exponential Moving Average (EMA) as reflected in the daily price chart.
This move suggests a shift in momentum, possibly signaling a short-term bullish trend.
Bitcoin’s positive moves have impacted the Crypto Fear & Greed Index, which has risen to 45 – a sizable jump from what it was on Monday.
The sentiment tracker from Augmento.ai also shows a notable increase in positive sentiment, further underlining the growing optimism from crypto investors.
If this optimism holds, it could pave the way for an extended uptrend – potentially pushing Bitcoin to test the resistance level at $28,000 in the next few weeks.
ChatGPT’s Q4 BTC Forecast Offers Optimistic Glimpse Into the Future
Given this context, ChatGPT offered an interesting forecast for where Bitcoin’s price could go in Q4 2023.
ChatGPT emphasizes the importance of considering Bitcoin’s historical data, present market sentiment, and external influences like regulatory shifts when forecasting its price.
With Bitcoin’s current trajectory, ChatGPT estimates a potential 20% to 60% price increase by year-end.
This would place Bitcoin as high as $43,544 in the best-case scenario – a price that hasn’t been seen since April 2022.
Although entirely hypothetical, ChatGPT’s optimistic forecast for Bitcoin could be plausible, given the right market conditions.
As such, all eyes will be on BTC’s performance in the near term, with investors hopeful that the coin’s current progress can continue.
Rising Star Bitcoin BSC Set for 6x Price Surge, According to ChatGPT
Bitcoin BSC (BTCBSC) has also emerged as an exciting addition to the crypto market, sparking significant investor attention with its presale price of just $0.99 per token.
As a BEP-20 token based on the Binance Smart Chain, BTCBSC aims to mirror the early days of the original Bitcoin, offering investors a second chance to acquire a high-potential asset at a low price.
However, Bitcoin BSC differentiates itself from Bitcoin in several ways – notably through its green staking mechanism, which utilizes a Proof-of-Stake (PoS) protocol.
Bitcoin BSC’s whitepaper states that 69% of the entire token supply is reserved for staking rewards, which will be distributed every ten minutes.
Currently, stakers can earn yields of 270% per year, and over 960,000 BTCBSC tokens have already been committed.
Given these unique features and noteworthy branding, it’s no surprise that Bitcoin BSC’s early growth has piqued the attention of ChatGPT.
According to ChatGPT, BTCBSC’s value could see a significant spike in price upon its DEX launch later this year due to pent-up demand from those who missed out on the presale.
Following this, ChatGPT believes that BTCBSC’s price will stabilize and grow – potentially hitting the $5.94 level by the end of the year.
This would represent a 6x increase for those who invest during the presale, solidifying Bitcoin BSC’s position as a promising asset in the crypto space.
This week Bitcoin BSC was featured in CryptoSlate and passed the $2 million milestone, now over halfway to its $3.96 million soft cap since its September 5 launch.
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