Artificial Intelligence Predicts Bitcoin Price for August 1, 2024

Crypto media analysts at Finbold turned to artificial intelligence algorithms to predict the price of bitcoin BTC $60,753.14 Bitcoin -1.46% Market capitalization $1.2 trillion VOL. 24 hours $1.44 billion on August 1, 2024. The neural network relied on historical BTC trends, technical analysis (TA) indicators, chart patterns, and current market events. Thus, the AI predicted that bitcoin could reach $ 97,264 by August 1, 2024, which means an increase of 44.89% compared to its current values.

In turn, the latest version of OpenAI’s chatbot, GPT-4o, offered a forecast of bitcoin’s price for August 1, 2024, with targets ranging from $ 76,348.50 to $ 89,108.83, «taking into account current market factors and historical trends.»

Meanwhile, Anthropic AI’s model, Claude 3 Opus, was the «most optimistic» in its forecasts, predicting that bitcoin would trade in the range of $ 105,072 to $ 167,808.

The neural network commented on its forecast: «The approval of spot bitcoin ETFs in early 2024 led to a significant inflow of funds, with the BlackRock ETF alone accumulating over 16,000 BTC within days of launch. Further institutional adoption could lead to higher prices.»

At the time of writing, bitcoin is trading at $ 71,111 with a market capitalization of $ 1.4 trillion. Traders have executed daily trading deals worth $ 51.8 billion. BTC’s market share is 53.8%.