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 market, ChatGPT sees conditions aligning for BTC to hit the $100,000 milestone finally.
According to the AI model, the influx of institutional capital and increased mainstream adoption an ETF would bring could act as catalysts to propel Bitcoin’s price to new all-time highs.
Which Other Cryptocurrencies Is ChatGPT Optimistic About?
While most of the buzz concerns Bitcoin, ChatGPT also revealed optimism about smaller altcoins.
One such altcoin capturing the AI model’s attention is Bitcoin ETF Token (BTCETF), a brand-new ERC-20 token aiming to expose traders to the buzz around spot crypto ETFs.
ChatGPT Believes Bitcoin ETF Token is Primed to Ride Approval Wave in 2024
Bitcoin ETF Token ties its tokenomics directly to real-world ETF milestones – burning 25% of its total supply as key events occur.
This deflationary mechanism reduces the circulating supply, while lucrative staking rewards incentivize holding.
Bitcoin ETF Token’s presale has already raised over $4.1 million, demonstrating substantial hype from investors.
Once the presale ends, BTCETF will be launched on DEXs like Uniswap, where a 5% tax on transactions will remove even more tokens from circulation.
These eye-catching features have helped force Bitcoin ETF Token into the public eye, with BTCETF now ranked first on CoinSniper.com.
Given the excitement around BTCETF, ChatGPT predicts the token could surge dramatically if a spot Bitcoin ETF is approved.
ChatGPT notes strong presale demand and deflationary tokenomics could drive prices higher through scarcity and speculation.
If market sentiment remains bullish post-ETF approval, BTCETF could be well-positioned to capitalize.
As such, ChatGPT predicts BTCETF could reach $0.02 to $0.05 per token – a near 3x to 8x gain from presale prices.
With an innovative design tied to the ongoing ETF saga, Bitcoin ETF Token seems primed for an eventful 2024.
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