In the ever-evolving landscape of technology, the year has witnessed an unprecedented surge in the development and application of artificial intelligence (AI). 

This rapid expansion has led to the emergence of remarkable Large Language Models (LLMs), with OpenAI’s ChatGPT standing out as a shining example. Renowned for its versatility, ChatGPT has found its way into an array of tasks ranging from content creation to coding and simplifying intricate subjects. 

Notably, its integration into the realm of trading and investing has been also striking. Investors, both in the cryptocurrency and stock markets, are increasingly turning to ChatGPT for financial insights and even predictions regarding specific assets.

In this light, a crypto enthusiast known as The ₿itcoin Therapist, tapped ChatGPT on August 27 to predict the price of Bitcoin (BTC) in several specific years, including 2024, 2028, 2032, and 2050. 

2024 prediction

Interestingly, the AI chatbot has been significantly bullish in its BTC price projections, although it offered both optimistic and conservative scenarios for each prediction. 

Taking both of these scenarios into consideration, ChatGPT expects Bitcoin to trade between $20,000 and $150,000 in 2024. On the upside, the leading cryptocurrency “could potentially continue its growth trend and reach a price target of $50,000 to $150,000 or even higher by 2024,” the bot said in the response. 

ChatGPT’s BTC price predictions for 2024, 2028, 2032, and 2050. Source: The Bitcoin Therapist

This growth would mainly be fueled by institutional and mainstream adoption, as well as positive crypto market sentiment. 

On the other hand, new market fluctuations and regulatory challenges could slow BTC’s growth and result in volatility. In this scenario, “the price range could be around $20,000 to $50,000,” ChatGPT said.

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2028, 2032, and 2050 projections

When it comes to long-term growth, ChatGPT is even more bullish on BTC. Based on the same catalysts mentioned earlier, the AI tool sees Bitcoin ranging between $100,000 and $500,000 by 2028.

This is unless its growth would be restrained by technological issues and regulatory clampdowns, which would narrow that range to between $20,000 and $100,000, ChatGPT responded. 

By 2032, the leading crypto asset could hit $1 million, assuming the most bullish circumstances, and up to $5 million by 2050. On the flip side, ChatGPT’s lowest BTC estimate for 2032 and 2050 sits at $20,000. 

It is important to note that the above predictions are based solely on AI technology and should be taken with reservation given that the future of crypto markets, which will be shaped by a variety of factors, remains uncertain. 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post ChatGPT predicts Bitcoin price in 2024, 2028, 2032 and 2050 appeared first on Finbold.

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Dennis is a business and financial writer, who had spent almost his entire life independently reporting on different business ventures with major impact on the US and global economy. Dennis places a special focus on examining tech stocks, biotech stocks all while investing a great part of his early hours to researching and writing on the companies in the US markets. Dennis has 15+ years of experience in financial markets.