The post AI sets Bitcoin’s next low target in a worst-case scenario after record-high appeared on BitcoinEthereumNews.com.

An artificial intelligence (AI) tool has offered a possible bearish outlook for Bitcoin (BTC) in a worst-case scenario after the asset hit an all-time high.  At the moment, Bitcoin is in a consolidation phase above $90,000, but given the cryptocurrency market’s inherent volatility, a price drop remains a possibility. Therefore, Finbold explored insights from OpenAI’s ChatGPT-4o to determine which factors could contribute to Bitcoin’s crash after the recent highs and possible price targets. Bitcoin’s potential worst-case scenario ChatGPT highlighted that factors such as a shift in market sentiment, regulatory crackdowns, and macroeconomic instability could push investors away from riskier assets like Bitcoin, causing a substantial market retreat. Additionally, the AI tool pointed out that technological failures, such as a security breach, could erode trust in Bitcoin, causing a sharp value drop. A liquidity shortage, with more sellers than buyers, could exacerbate the decline, and if major institutional investors liquidate their positions, it could trigger further sell-offs, deepening the price plunge. Bitcoin worst-case scenario outlook. Source: ChatGPT-4o Regarding possible price movements, ChatGPT-4o projected that Bitcoin could experience an 80-90% drop from its all-time high. This would place Bitcoin’s price in the range of $9,000 to $18,000. Before such a drop is realized, the AI model noted that investors will need to monitor key psychological support zones such as $50,000, $30,000, and $20,000. Overall, Bitcoin has seen significant momentum following the election of Donald Trump, who is highly expected to push for implementing pro-crypto policies.  Although the AI model noted that a regulatory crackdown could push Bitcoin down, the asset is pricing in the potential of friendly laws under the next administration, despite critics warning that Trump might not implement the promises made.  Overall, some market players foresee Bitcoin culminating in a high of $100,000 amid the ongoing Trump euphoria. Bitcoin price…

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Filed under: News - @ November 17, 2024 1:14 pm