Binance CEO “CZ” Downplays Post-Halving Bitcoin Price Prediction By ChatGPT
Bitcoin halving is now almost a year away and ChatGPT predicts Bitcoin price to surpass $100,000 after the fourth halving event in 2024. However, Binance CEO Changpeng “CZ” Zhao claims that ChatGPT can’t predict Bitcoin price and downplayed the Bitcoin prediction by ChatGPT based on historical Bitcoin price movements.
Binance CEO on April 20 shared a tweet mentioning Bitcoin price after three previous halving events. He believes historical data does not always predict the exact values, but it can hint at BTC price. The value of Bitcoin rises massively after each halving event as the supply of new coins into circulation is reduced by half.
Before & after the halving, you will hear a lot of "why didn't the price move (everyday)?"#bitcoin price:
1st halving, 2012 Nov: $12
2nd halving, 2016 Jul: $658
3rd halving, 2020 May: $8,800
4th 2024: …History does NOT predict the future. But zoom out… https://t.co/979tpNq9kf
— CZ 🔶 Binance (@cz_binance) April 20, 2023
ChatGPT Predicts Bitcoin Price at $135,000 After Bitcoin Halving
As per ChatGPT, Bitcoin price can hit $135,000 after the fourth Bitcoin halving event in April 2024. Bitcoin halving results in an increase in the BTC price, reducing the block mining rewards by half and the supply of BTC.
ChatGPT predicted the Bitcoin price by comparing the BTC price after 1st halving in 2012, 2nd halving in 2016, and 3rd halving in 2020. As per the sequential analysis, it comes to around $135,000.
However, Binance CEO “CZ” said artificial intelligence (AI) has no idea about Bitcoin price. He didn’t shared his target for Bitcoin price after the halving event. As per Ark Invest CEO Cathy Wood, Bitcoin price will hit $1 million by 2030 and $500,000 by 2026.
As per Bitcoin Halving Countdown, Bitcoin will undergo halving at a block height of 840,000 between April 20-30, 2024. The Bitcoin block reward will decrease from 6.25 to 3.125 coins.
BTC Price To Rally 350%?
BTC price is currently trading near $30,000, 350% down from the target price of $135,000. While the current market conditions such as regulatory pressure, bear market, and macro make it difficult to believe that Bitcoin can rally 350% in a year, but historical data do indicate a massive rally near halving events.
At the time of writing, BTC price trades at $28,874, down 2% in the last 24 hours and over 5% in a week.
Also Read: Bitcoin (BTC) Price Sinks Another 5% As Sell-off Intensifies, Is $30K Possible Now?
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