With a price increase of 34% last week, BTC is currently trading 3% lower than its all-time high of $99,655. The market capitalization remains at $1.915 trillion while maintaining a market dominance of 56.43%.
Amid such positive numbers, the broader market predicts BTC will exceed $100,000 in the first week of December. However, the volatility of the broader market and changing global market conditions are key factors to consider as 2024 comes to a close.
We asked ChatGPT to predict the BTC price for next month as cryptocurrency enthusiasts anticipate the final rally of 2024 will soon begin. So, without further ado, let's take a look at ChatGPT's Bitcoin price prediction.
Bitcoin Price Performance
On the 4-hour chart, BTC's price action has surged sharply beyond the triangle pattern. The breakout did not surpass the $99,000 mark and is currently testing the broken trend line.
The current 4-hour candle with a price increase of 0.31% reflects the fundamental forces trying to reverse after retesting. Based on Fibonacci levels, BTC price is within the boundary levels of 50% and 61.80%.
The consolidation range will determine the price trend over the next 24 hours and may set the tone for early December. A bullish breakout would drive the BTC price to reach the $100,000 mark for the first time in history and create a new six-figure all-time high.
Furthermore, the MACD line and the signal line continue to maintain a positive correlation. Conversely, the key support level remains at $95,000.
So, let's see what ChatGPT predicts about the Bitcoin price trend in December.
ChatGPT's Prediction of Bitcoin Reaching $100,000
To find out the accurate price prediction from ChatGPT, we provided the AI with the ongoing price trend and historical monthly and quarterly returns. Based on this data, the cautious estimate from Bitcoin's price predicts a return of 5-10% compared to the closing price in November.
This figure estimates Bitcoin will be in the range of $101,600 to $106,500. Therefore, GPT expects BTC will definitely surpass the $100,000 mark next month.
In a bullish scenario, upward momentum will drive the Bitcoin price up by 20-25%. This will push the market price of one Bitcoin to $116,000 to $120,000.