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The next Bitcoin halving is fast approaching, marking the first time since 2020 that the network’s block reward will be cut in half.
Given the seismic nature of this event, ChatGPT has had its say on how the halving could affect Bitcoin’s price – and whether it’s time for traders to start stocking up on BTC.
At the same time, ChatGPT has also highlighted the new presale crypto Bitcoin Minetrix (BTCMTC) as a coin that could have an explosive debut on the open market later this year.
Recent Bitcoin Price Drop Sets Foundation for 2024 Halving
Bitcoin’s price is down almost 3% in the past week, with the coin currently trading around $26,680.
The Crypto Fear & Greed Index, often used as a proxy for crypto market sentiment, has also fallen – and is now in “Fear” territory.
One of the main catalysts for this negative sentiment is the Federal Reserve’s hawkish nature, which is weighing on the crypto market.
However, investors are already looking forward to April/May 2024, when the next Bitcoin halving is expected to take place.
This halving could have a massive impact on Bitcoin’s price since it will reduce the supply of new BTC introduced into circulation.
After previous halvings, Bitcoin’s price surged as demand outpaced the new supply level.
Scarcity often increases the value of financial assets – and given that halvings artificially limit BTC’s circulating supply, it’s reasonable to expect that the upcoming halving could precipitate a significant price increase.
ChatGPT Predicts Bitcoin Could Surge to $60k Post-Halving
Unsurprisingly, ChatGPT has reiterated the fact that the upcoming halving in 2024 could have a massive impact on Bitcoin’s price.
ChatGPT predicts that if the current conditions persist, Bitcoin’s price could climb to the $40,000 to $60,000 range (or even higher) post-halving in 2024.
This is based on the typical cyclical pattern of Bitcoin experiencing upward price trends around halving events.
However, ChatGPT did caution that a price pump isn’t guaranteed, as market dynamics depend on numerous factors, not just one.
As such, ChatGPT could not specify whether now could be a good time for investors to buy Bitcoin ahead of the halving event.
Nonetheless, ChatGPT’s optimistic price forecast will be warmly received by Bitcoin investors, given that it could have significant ramifications for their portfolios over the next eight months.
Which Other Cryptos is ChatGPT Bullish On?
While ChatGPT sees potential in Bitcoin following the 2024 halving, there are other emerging cryptocurrencies that could generate significant returns.
One such project highlighted by ChatGPT is the new presale crypto Bitcoin Minetrix, which has just launched a highly-anticipated token presale event.
ChatGPT Predicts BTCMTX Could 5-10x for Presale Buyers as Momentum Builds
Bitcoin Minetrix (BTCMTX) is an innovative tokenized cloud mining platform that provides an easy and accessible way for everyday investors to mine BTC.
The platform aims to solve the problems of high costs and lack of transparency that have plagued the cloud mining sector over the past decade.
At the core of the Bitcoin Minetrix platform is BTCMTX, which can be purchased and then staked to earn non-tradable credits.
According to Bitcoin Minetrix’s whitepaper, these credits can then be burned to earn cloud mining power for Bitcoin mining.
This unique concept, called Stake-to-Mine, decentralizes the mining process, eliminating the dependence on large companies and facilities.
Moreover, by using Bitcoin Minetrix’s cloud mining setup, crypto enthusiasts can avoid the technical complexities of setting up advanced mining hardware.
Although not yet launched, Bitcoin Minetrix is offering its native BTCMTX token via a limited-time presale, priced at just $0.011.
Following this presale, the BTXMTX token is expected to be launched on several leading exchanges – which ChatGPT believes could be a catalyst for a significant price rise.
According to ChatGPT, BTCMTX tokens could reach a price of $0.05 to $0.10 by the end of the year, representing returns of up to 809% for presale buyers.
Combine this optimistic forecast with the fact that Bitcoin Minetrix’s presale has already raised over $110,000, and it’s clear that there’s considerable interest surrounding the BTCMTX project.
Visit Bitcoin Minetrix Presale