Bitcoin’s price has recently taken for the skies lately with an increase of upward of 20% in the past seven days alone.
The cryptocurrency is already trading at around $30K, returning the bullish sentiment in the industry following days of a painful chop and downward movements.
And while analysts are presenting their technical thesis for the next possible targets of BTC, we decided to talk to ChatGPT and see what needs to happen for it to reach the coveted $40K mark.
7 Factors for BTC to Reach $40K: ChatGPT
First off, it’s worth noting ChatGPT’s warning of Bitcoin’s volatility. The Ai-based model says that predicting specific price movements is “challenging” but outlines a few factors that could impact its price.
So, here’s its answer to the question:
What needs to happen for Bitcoin to hit $40K?
Market Demand
ChatGPT starts out with the obvious and says that “an increase in market demand for Bitcoin could drive its price upwards.” Well, yes, that’s how it usually w
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