AI estimates the probability of Bitcoin rising to $100,000 in 2024

Using Google Cloud's Vertex AI platform, Spot On Chain analysts have developed Bitcoin price forecasts for 2024-2025.

In the context of short-term prospects, experts expect that during May-July the price of the first cryptocurrency will remain in the range of $56,000-70,000. This period is characterized by increased volatility. The probability of falling below $60,000 is 48%.

In the second half of 2024, analysts expect increased price movement. With a 63% probability, Bitcoin will rise to $100,000.

“This forecast signals a prevailing bullish sentiment in the market, which will be supported by the rate cut expected after the December FOMC meeting […]. This could increase demand for risky assets like stocks and bitcoin,” explained Spot On Chain representatives.

An example of a positive correlation between the S&P 500 index and Bitcoin. Data: OKX, Spot On Chain.

There is a “strong likelihood” of 42% that digital gold will break $150,000 in the first half of 2025.

“The chances that the price of Bitcoin will exceed $150,000 increase to 70% if we consider the entire year of 2025,” the experts emphasized.

According to their observations, the first cryptocurrency updates its historical maximum 6-12 after each halving.

Halvings and Bitcoin price. Data: CoinDesk.

According to representatives of Spot On Chain, the analytical model they developed is based on an extensive data set that includes various historical trends and market factors. In particular, it takes into account halvings, interest rate cycles, ETF factors, venture capital investor activity, and bitcoin miner sales.

Earlier, Pomp Investments founder Anthony Pompliano predicted a correction and subsequent rise in digital gold to $100,000 with chances of reaching $150,000-200,000.