Markets
ChatGPT-4o predicts Bitcoin price if NYSE approves BTC trading
The New York Stock Exchange (NYSE) is considering implementing cryptocurrency tradingeven if the current regulatory The framework prevents you from moving forward. As the world’s largest exchange by volume, such a development could have a positive impact on demand for cryptocurrencies—Bitcoin (BTC) included.
Seeking information on the possible effects of a Bitcoin listing on the NYSE, Finbold asked OpenAIthe most advanced artificial intelligence in (AI) model, ChatGPT-4owhat could be the price of BTC after this approval.
ChatGPT-4o Bitcoin price prediction in a hypothetical NYSE listing
Notably, ChatGPT-4o provided three price predictions for the short, medium and long term after receiving the appropriate context.
Initially, the AI model estimates that current short-term speculation regarding a possible NYSE listing is sufficient to cause a surge. In particular, ChatGPT-4o believes in a 20-30% price increase following the recent announcement as an immediate reaction. This would put Bitcoin at $82,000, which matches an analysis reported on Finbold by a seasoned cryptocurrency trader..
Second, OpenAI’s flagship product is expected to cost between $100,000 and $120,000 in the medium term. This takes into account the combined effect of the influx of new investors, increased legitimacy and wider acceptance within a six to 12 month time frame.
Finally, the long-term BTC price prediction places the leader cryptocurrency in a price range between $150,000 and $200,000.
“If crypto trading on the NYSE leads to further institutional adoption, improvements to market infrastructure, and overall market growth, Bitcoin could potentially target the $150,000 to $200,000 range as as the market matures and the asset continues to solidify its place as a digital store of value. .”
ChatGPT-4o model for predicting the Bitcoin price in the given context. Source: NanoGPT
NYSE open to crypto trading with clear regulations; CME plans 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 listed companies in the United States spot Bitcoin ETFs, raising $58 billion, indicates demand for regulated crypto products. NYSE rival CME plans to launch spot crypto trading for its clients, as well as reported by CoinDesk.
Bullish CEO Tom Farley highlighted the rapid evolution of US crypto policy, predicting regulatory progress in 2024-2025. Martin remains optimistic about using blockchain to improve financial processes, particularly for less liquid assets.
However, Farley believes that regulators’ distrust of public blockchains could push TradFi companies to develop private blockchains for settlement. Clear regulatory guidance is crucial to the growth and innovation of the U.S. crypto industry.
BTC Price Analysis
At the time of writing, Bitcoin is trading at $67,724, maintaining a price range between $60,000 and $72,000. Nonetheless, currently trading above the 30-day rate exponential moving average (30-EMA) suggests a bullish potential to challenge the range resistance and fight for the $82,000 as predicted by ChatGPT-4o.
Additionally, Bitcoin Daily relative strength index (RSI) also suggests growing momentum that can propel this potential bullish rally. BTC is up 60% year-to-date from the January 1 exchange rate of $42,284.
In conclusion, the above ChatGPT-4o price prediction for Bitcoin will depend on a number of factors and is not guaranteed. The evolution of regulations, investor interest and finance the offerings could have a significant impact on cryptocurrency in the coming years.