ChatGPT on Bitcoin & BTC ETF Prices Following Potential ETF Approval

Bitcoin’s (BTC) price has surged impressively in the past three months thanks to optimism that a spot Bitcoin ETF could finally be approved in the US after years of rejection by the SEC.

The popular AI system ChatGPT has issued a bold prediction for Bitcoin once this event occurs, which has surprised many investors.

Additionally, the AI model has also highlighted new presale crypto Bitcoin ETF Token (BTCETF) as an altcoin that could capitalize on the hype around a spot crypto fund being approved.

Bitcoin Remains Bullish as SEC Chair Hints at Imminent ETF Approval

Bitcoin’s price has rallied over 61% since October on growing optimism that the SEC could give a spot BTC ETF the green light.

Such an ETF would allow mainstream investors easy exposure to Bitcoin without directly holding the cryptocurrency, likely leading to significant new inflows.

SEC chair Gary Gensler recently hinted that the agency is taking a “new look” at spot BTC ETF proposals following a court ruling overturning the regulator’s rejection of Grayscale’s Bitcoin trust.

While Gensler didn’t outright say the SEC is softening its stance, his comments suggest they may be more open to approval now.

The crypto market seems to agree, with prices rising across the board in recent weeks.

However, nothing is guaranteed yet, with Gensler emphasizing protecting investors as the SEC’s main priority when evaluating new crypto-focused funds.

Still, if an ETF is approved in early 2024, as some analysts predict, it could help spur a new bull cycle for Bitcoin.

ChatGPT Forecasts $100k Bitcoin in 2024 on ETF Approval Hopes

The popular AI model ChatGPT has issued a bold prediction that Bitcoin’s price could surge in 2024 if the SEC approves a spot BTC ETF.

ChatGPT analyzed that an ETF could pave the way for major institutional investment in Bitcoin, providing easier access for investors currently constrained by the lack of traditional market vehicles.

It notes that previous regulatory approvals, like the launch of CME Bitcoin futures, have sparked significant price rallies.

With market sentiment already optimistic amid the ETF rumors and the 2024 Bitcoin halving expected to push crypto into a broader bull mark

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Author: Felix Mollen

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