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ChatGPT-4o predicts the price of Bitcoin if the NYSE approves BTC trading
The New York Stock Exchange (NYSE) is considering implementation cryptocurrency tradingeven if the current regulatory framework prevents us from moving forward. As the world’s largest stock exchange in terms of volume, this development could have a positive impact on demand cryptocurrencies—Bitcoin (Bitcoin) included.
Seeking insights into the possible effects of a Bitcoin listing on the NYSE, Finbold asked OpenAIthe most advanced artificial intelligence of (TO THE) model, ChatGPT-4owhat could be the price of BTC after this approval.
ChatGPT-4o Bitcoin price prediction in the hypothetical listing on the NYSE
Specifically, ChatGPT-4o provided three short-, medium- and long-term price predictions after receiving the appropriate context.
At first, the AI model believes that current short-term speculation about a possible NYSE listing is enough for a rally. Notably, ChatGPT-4o believes in a price increase of 20% to 30% after the recent announcement as an immediate reaction. This would put it Bitcoin at $82,000, in line with an analysis reported on Finbold by a veteran cryptocurrency trader.
Secondly, OpenAI’s flagship product is expected to be priced between $100,000 and $120,000 in the medium term. This is considering the combined effect of new investor inflows, greater legitimacy and wider acceptance within six to twelve months.
Finally, the long-term BTC price prediction is ahead cryptocurrency in a price range of $150,000 to $200,000.
“If cryptocurrency trading on the NYSE leads to further institutional adoption, improvements in market infrastructure, and overall market growth, Bitcoin could potentially target a $150,000 to $200,000 range as the market matures and the asset continues to solidify its place as a digital store of value.”
ChatGPT-4o Model Predict the Bitcoin price in the given context. Source: NanoGPT
NYSE opens cryptocurrency trading with clear regulations; The CME involves spot trading
At the Consensus 2024 event, NYSE President Lynn Martin said the exchange would consider offering cryptocurrency trading if US regulations were clearer. The success of the listing in the United States Spot Bitcoin ETF, which has accumulated $58 billion, indicates the demand for regulated crypto products. NYSE rival CME also plans to launch spot cryptocurrency trading for customers reported by CoinDesk.
Bullish CEO Tom Farley highlighted the rapid change in US policy towards cryptocurrencies, predicting regulatory progress in 2024-2025. Martin remains optimistic about using blockchain to improve financial processes, especially for less liquid assets.
However, Farley believes that regulators’ mistrust of public blockchains could push TradFi companies towards developing private blockchains for settlement. Clear regulatory guidance is critical to the growth and innovation of the cryptocurrency industry in the United States
BTC price analysis
As of this writing, Bitcoin is trading at $67,724, maintaining a price range of $60,000 to $72,000. However, currently trading is over 30 days exponential moving average (30-EMA) suggests a bullish potential to challenge the range resistence and fight for the $82,000 as expected by ChatGPT-4o.
Furthermore, Bitcoin is everyday relative strength index (RSI) also suggests growing momentum that can propel this potential bullish rally. Year to date, BTC has risen 60% from the exchange rate of $42,284 on January 1st.
In conclusion, the ChatGPT-4o price prediction for Bitcoin will depend on a number of factors and is not guaranteed. Further regulatory developments, investor interest and traditional finance the offerings could have a significant impact on the cryptocurrency in the following years.