Artificial intelligence (AI) Perplexity Online, which is capable of scanning web pages in real time and is one of OpenAI's competitors, has made a forecast for the price of the most popular cryptocurrency, Bitcoin, by the end of the year.
In compiling it, Perplexity looked at predictions from four different sources. Ultimately, the AI tool determined that Bitcoin will trade between $80,000 and $100,000 by the end of 2024.
The forecast is based on the opinion of TradeStation's head of brokerage solutions Anthony Russo, who is confident that the Federal Reserve's transition to a more "soft monetary policy" will help achieve these figures.
Both the LongForecast article and VanEck analysis provide a more conservative or bearish scenario for Bitcoin this year. The former calls for a 13.2% rise to $72,499 by December 2024, while the latter source predicts fluctuations between $65,000 and $70,000 (which is higher than current prices).
Bitcoin is currently trading at $62,000, with the price of the leading cryptocurrency remaining above the 50-week exponential moving average (1W 50-EMA) at $55,614, providing significant price support.
BTC may test this support in the coming days, or try to retest resistance above $65,000.
Crypto analysts Alan Santana, Credible Crypto, and RLinda paint a mostly bearish picture. According to their calculations, the price of Bitcoin could fluctuate between $49,000 and $55,000, but after reaching these levels, it could bounce back to new highs.$FTM $FET 