Bitcoin (BTC) is on a tear, surging almost 10% in the last week and surpassing the $67,000 mark. This rally has investors wondering if a new all-time high is on the horizon, with some even eyeing the psychological milestone of $100,000.
Is This a Post-Halving Rally or a Short-Term Spike?
Analysts believe this upswing could be similar to past post-halving rallies, where Bitcoin's price historically surges after its block reward gets cut in half. This scarcity could be driving the current demand and pushing the price higher.
Technical Indicators Flash Bullish Signs
The daily charts show a potential breakout from a resistance trendline, which could signal the end of a pullback phase. Additionally, technical indicators like the VI lines and ADX are pointing toward a possible bull run.
So, How High Can Bitcoin Go?
Based on Fibonacci levels, a moonshot to $100,000 seems possible this year if the momentum continues. However, some analysts predict a more conservative target of $77,842 by the end of Q2 2024.
AI Predicts a Bullish Q2, But How Bullish?
While many expected a bullish prediction, ChatGPT surprised with an even more optimistic target – a potential rally to $87,613 by the end of June!
ChatGPT's prediction is certainly interesting, but will it be right?
Is this the start of a historic Bitcoin bull run, or just a temporary blip?
Read the full article here to see a deeper analysis of the technical indicators and expert opinions: https://coinpedia.org/price-analysis/chatgpt-predicts-how-high-can-bitcoin-price-rally-in-q2-2024/