Perplexity Online, an #artificialintelligence (AI) capable of scanning web pages in real time and part of #OpenAI 's competitors, has made a prediction on the price of the most popular cryptocurrency bitcoin at the end of the year.
In compiling it, Perplexity considered guesses from four different sources. As a result, the $AI
tool determined that #bitcoin☀️ will trade between the $80,000 and $100,000 levels by the end of 2024.
This #predictions was based on the opinion of Anthony Russo, head of brokerage solutions at TradeStation, who believes that the Federal Reserve's shift to a more “loose monetary policy” will help it reach these numbers.
The LongForecast article and VanEck analysis give a more conservative or bearish scenario for bitcoin this year. The former talks about a 13.2% rise to $72,499 by December 2024, while the latter source promises a swing between $65,000 and $70,000 (that's above current prices).
Bitcoin is currently trading at $62,000, with the price of the major cryptocurrency remaining above its 50-week exponential moving average (1W 50-EMA) at $55,614, providing significant price support.
$BTC
could test this support in the coming days, or it could try to retest resistance above $65,000.
Crypto analysts Alan Santana, Credible Crypto and RLinda paint a predominantly bearish picture. According to their calculations, bitcoin's price could range between $49,000 and $55,000, but once it reaches those levels, it could bounce back to new highs.