LIVEWe asked ChatGPT what will be Ethereum price after 2024 Bitcoin halving
The weight that Bitcoin (BTC) carries in the cryptocurrency world is not to be underestimated, as its performance usually dictates the broaded market. With Ethereum (ETH) next in line, it is logical that it is the first one to benefit or slump from BTC's events.
After the SEC approved BTC exchange-traded funds (ETF) in January, sights are already set towards the next notable event, Bitcoin halving, which is set to take place in mid- April 2024.
This week was notable for Ethereum as it surpassed its resistance zone set at $2,800 and is currently trading at $2,835 after gains that have seen its value increase by 1.48% on daily and 13.67% on weekly charts.
In its pursuit of insights, Finbold opted to seek counsel from OpenAI's premier platform, ChatGPT, regarding the potential trajectory of the world's leading altcoin as the halving event unfolds.
ChatGPT makes a prediction on the Ethereum
Although ChatGPT didn't provide a precise figure, it's rational to anticipate some price fluctuation for Ethereum in light of the historical correlation between Bitcoin and Ethereum prices.
Nevertheless, factors like Ethereum's ongoing development, expanding usage in decentralized finance (DeFi), and forthcoming upgrades like Ethereum 2.0 suggest a broaded context beyond more volatility.
However, considering historical movements, the most likely price range was from $8,000 to $12,000.
This range derives from Ethereum's past price trends, its prominent status as the foremost smart contract platform, and the overall expansion path of the cryptocurrency market.