Bitcoin (BTC) is back in the spotlight, surging past $62,000 after the Fed cut interest rates yesterday.
Now, all eyes are on ChatGPT as the AI tool weighs in on where Bitcoin’s price might be heading next.
Fed’s Interest Rate Cut Prompts Bitcoin Price Surge
Crypto investors are hyped after Bitcoin’s price spike in the past 24 hours.
For the first time in four years, the central bank slashed interest rates by 50 basis points.
It’s a decision that investors had been waiting for – and Bitcoin wasted no time making its move.
However, there’s still uncertainty in the market.
After its initial surge above $62,000, Bitcoin has pulled back slightly, now hovering around $61,950.
Still, even after that slip, Bitcoin is holding strong, up more than 7% from Monday’s low.
While the Fed’s rate cut wasn’t unexpected, the size of the reduction made headlines.
Inflation is easing, and unemployment is creeping up, so the Fed decided it was time to loosen its grip on monetary policy.
Now, everyone’s waiting to see how this cut will impact crypto.
Some believe Bitcoin will continue climbing, while others are more cautious, seeing this as a temporary rally.
ChatGPT Predicts Bitcoin Could Hit $85,000 By Year-End
So, what does ChatGPT have to say about all of this?
It turns out that the AI model is pretty optimistic about Bitcoin’s future.
With BTC hovering around $61,950, ChatGPT has crunched the numbers and sees some solid potential for growth.
It’s factoring in various elements – the Fed’s rate cut, technical indicators, and even last year’s end-of-year rally.
Putting it all together, ChatGPT suggests Bitcoin could reach between $70,000 and $75,000 by the end of 2024.
And if things really heat up, the AI model doesn’t rule out a surge to $80,000 – or even $85,000.
That said, ChatGPT’s price prediction is entirely hypothetical.
It’s essentially providing an educated guess based on current market conditions.
Still, with sentiment turning bullish and Bitcoin’s history of surprises, there’s a growing belief that more gains are on the horizon.
The Crypto Fear & Greed Index, a popular proxy for how investors are feeling, has risen to 49.
This value is just outside of “Greed” territory.
Anthony Pompliano, a well-respected crypto analyst, also posted a video yesterday saying, “Bitcoin will explode.”
These signs suggest ChatGPT’s forecast might not be so far-fetched.
ChatGPT Also Predicts Big Gains for New Meme Coin Pepe Unchained
While Bitcoin has been receiving most of the attention, it’s not the only crypto gaining momentum from these rate cuts.
Newcomer Pepe Unchained (PEPU) is also on the rise.
This quirky project has been attracting enormous attention, and according to ChatGPT, it might be gearing up for its own rally.
Pepe Unchained isn’t your average meme coin.
Sure, it has a fun Pepe the Frog mascot, but there’s much more under the hood.
It’s building a full-on Layer-2 blockchain specifically for meme coins – faster, cheaper, and packed with staking rewards.
Pepe Unchained’s whitepaper even claims it’ll be 100 times quicker than Ethereum.
It’s no surprise that the project’s presale is on fire, pulling in over $13.8 million so far.
And that has got ChatGPT buzzing.
The AI model predicts PEPU’s opening price could be between $0.03 and $0.05 when it launches on a DEX.
If everything goes according to plan – a successful launch, strong backing, and more shout-outs – ChatGPT believes the token might even rise as high as $0.15.
That would represent a 1,429% increase from the current presale price.
ChatGPT’s bullishness is backed up by crypto expert ClayBro, who said that early investors should “prepare for gains.”
So, with Bitcoin rallying and Pepe Unchained making noise, the crypto market looks like it is about to get a lot more exciting.
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