It’s been an excellent month for Cardano (ADA) holders, with the token’s price up over 84% since mid-November.
Given the rapid price appreciation, AI model ChatGPT has weighed in on whether this bullish momentum can continue until after the 2024 Bitcoin halving event.
ChatGPT has also highlighted Bitcoin Minetrix (BTCMTX) as an up-and-coming crypto that it believes has the potential to surge.
Cardano Charges Higher as Combination of Bullish Factors Produces Momentum
Since November 14, ADA has risen from $0.341 to its current value of $0.628, breaching key resistance levels in the process.
ADA is actually up a whopping 162% since the bullish momentum began in October, putting an end to the months of sideways trading that had occurred beforehand.
Various factors, including a spike in trading volumes, have driven this price surge.
According to CoinMarketCap data, over $1 billion worth of ADA exchanged hands in the past 24 hours, making it the 11th most-traded cryptocurrency in the world.
Broader market sentiment has also drastically improved, with positive fundamentals boosting investor confidence.
Much of this confidence stems from the possibility of a spot Bitcoin ETF being launched in the US.
Although not directly related to Cardano, such developments often have a ripple effect throughout the entire market.
With Cardano now firing on all cylinders, many traders expect the bull run to continue into 2024 and beyond.
ChatGPT Predicts 136% Cardano Price Pump Post 2024 Bitcoin Halving
Boosting the current positive momentum behind Cardano is an optimistic long-term outlook from the AI model ChatGPT, which predicts considerable upside for ADA following the next Bitcoin halving.
Citing historical precedents, increasingly bullish market sentiment, and Cardano’s ongoing development, ChatGPT anticipates the Bitcoin halving will produce a broader crypto bull run.
As such, ADA will be poised to capitalize on these favorable conditions.
Specifically, ChatGPT forecasts that the Bitcoin halving could help ADA’s price reach the $1.00 to $1.50 range by mid-2024.
This would represent 136% growth if ADA was able to hit the upper end of this price range.
ChatGPT bases this prediction on the assumption that post-halving crypto market bullishness will resemble past cycles and produce a rising tide that also lifts altcoins, including Cardano.
When combining this expected tailwind with Cardano’s existing traction, ChatGPT sees substantial room for ADA’s price to continue running higher through the next halving.
What About Bitcoin Minetrix?
Although ChatGPT has an optimistic forecast for Cardano post-halving, the AI also sees considerable potential in emerging crypto project Bitcoin Minetrix (BTCMTX) over the same time frame.
Currently in its presale phase, Bitcoin Minetrix has already raised over $5.3 million thanks to its innovative stake-to-mine model that provides everyday investors with access to cloud-mining hash power for BTC.
Investors who own BTCMTX, the project’s native token, can stake their holdings to earn mining credits.
These mining credits can be utilized to gain cloud mining power or redeemed for a share of the mining yields.
Bitcoin Minetrix users can also pledge their tokens to the staking pool, earning yields of 114% per year.
These elements have helped create an enormous buzz around Bitcoin Minetrix, attracting a diverse range of investors excited by its unique approach to crypto mining.
Given the success of its ongoing presale, ChatGPT views Bitcoin Minetrix as well-positioned to capitalize on broader market bullishness expected after Bitcoin’s next halving.
The AI model predicts that by combining its novel mining concept with post-halving enthusiasm, BTCMTX could reach a price range of $0.05 to $0.10 per token by 2024.
This would represent growth of over 719% should ChatGPT’s prediction prove accurate.
With the next halving fast approaching, ChatGPT clearly believes that Bitcoin Minetrix has uncapped potential for the coming years.
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).