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As Bitcoin (BTC) price trades within the $96,350 to $97,180 range, OpenAI’s flagship large language model (LLM), ChatGPT4-o, put forth three distinct price targets for May 30 when queried by Finbold.
At press time on May 2, Bitcoin was trading at $96,910, following a decisive move above the $90,000 level on April 22 accompanied by significant capital inflows.
According to the artificial intelligence (AI) model, a bullish scenario which would see strong exchange-traded fund (ETF) demand, interest rate cuts, and a general improvement in macroeconomic conditions could see the price of Bitcoin rise to $112,000 to $122,000 by May 30, which would equate to a 15.57% to 25.89% rally from current prices.
On the other hand, a neutral scenario, characterized by sideways movement, steady demand, and a lack of clear catalysts, either bullish or bearish, could see BTC prices either drop to as low as $93,000, which would represent a 4.03% loss, or rise as high as $102,000, for a surge of up to 5.25%.
Lastly, ChatGPT-4o predicted that weak crypto inflows, rising yields, and investors reducing their exposure to risky assets could cause a drop in BTC price to levels in the $78,000 to $88,000 range, which implies a loss of 19.51% to 9.19%.
What is the average Bitcoin price gain in May?
In the month of May, Bitcoin has provided an average return of 7.52% and a median return of 2.48% since 2013, per data retrieved by Finbold from cryptocurrency analytics platform CoinGlass.
While past performance is not a guarantee of future results, the fact that Bitcoin prices have already seen a surge equivalent to the median return for the entire month in the span of just two days is quite a bullish signal. In addition, only 11% of the cryptocurrency’s supply is currently being held at a loss — which typically coincides with reduced selling pressure.
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