The markets are on a bullish treadmill as the Bitcoin price overcomes the massive supply wave that started last month. With the BTC price surpassing the $67,000 threshold, the sideline traders anticipate a massive rise in the coming months.
The uprising reflects the post-halving rally beginning in Bitcoin, which is ready for a new all-time high this May. Will the bullish trend in the biggest cryptocurrency reach the psychological milestone of $100,000? Is this the first step to Bitcoin hitting the million-dollar mark?
Let’s examine the BTC price analysis to gain a deeper understanding. We have also asked the latest ChatGPT 4o model to predict the bull run and how high the Bitcoin price will rally in Q2 2024.
Bitcoin price analysis
With almost a 10% surge in the last 7 days, the BTC price is scaling new heights and reflects a massive surge in underlying demand. Further, the daily chart shows the recovery rally ready to challenge the overhead resistance trendline. A trendline breakout rally will signify the end of Bitcoin’s pullback phase.
Currently, the BTC price is trading at $67,217, with an overnight gain of 2.76%, and has reclaimed the $67,000 mark. Further, the bullish crossover in the VI lines and the uptick in ADX support the possibility of a bull run.
According to the trend-based Fibonacci levels, the Bitcoin moonshot could easily reach the $100,000 milestone this year if the momentum sustains. However, Q2 could only get the $77,842 mark or the 50% Fibonacci level.
For a more accurate prediction, we asked the latest ChatGPT model to predict how high the Bitcoin rally will reach in Q2 2024.
ChatGPT Predicts Bitcoin Reaching $87K In Q2 2024!
With the ongoing bull run in motion, the ChatGPT predictions were expected to be bullish. However, the analysis surpasses our estimate for an even bullish prediction, much closer to $100,000.
With a bearish possibility of dropping to $57,000, the AI predicts the bullish scenario appears more likely. As the post-halving rally gains momentum, the BTC price could reach the $87,613 level by the end of June, per ChatGPT.
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