Bitcoin is back above $68.5k and takes a bullish stand today after a 6-day crash. The increased uncertainty in the market mainly fueled the downfall due to the US elections in 2024.
So, amid the increased market chaos, we decided to ask the chatGPT what will happen to Bitcoin price if Donald Trump or Kamala Harris wins the U.S. elections in 2024. So, without further ado, let’s look at ChatGPT’s Bitcoin price prediction.
Amid the increased market chaos due to the speculation dump amid the U.S. market elections, Bitcoin registered a massive drop of 7.01% with six consecutive bearish candles. Ending the bearish streak, the BTC price is now up by 1.20% in an intraday growth.
Currently, Bitcoin is trading at $68,633. With the intraday recovery, the buyers are trying to reclaim the 78.60% Fibonacci level price at $68,943. Furthermore, this also comes as a secondary post-retest reversal of the broken resistance trendline, which formed the previous bullish flag pattern.
Despite the bullish attempt, the MACD and signal lines have given a bearish crossover with a resurfacing of negative histograms. Meanwhile, the 50-day EMA maintains a positive trend and rises higher to provide dynamic support to Bitcoin.
As the intraday recovery teases a potential V-shaped reversal, the increased clarity after the U.S. election votes are over will likely increase the Bitcoin price. If Donald Trump comes out victorious, the bull market is likely to continue. However, Kamala Harris’s win is likely to put a small dent in the recovery run.
This is because Donald Trump has been pro-crypto for an extended period. Meanwhile, Kamala Harris has recently turned pro-crypto to gain the attention of 21% of Americans holding cryptocurrencies.
So, let’s check out what ChatGPT predicts of the Bitcoin price trend if Trump or Harris wins the elections.
Sharing the price analysis chart to ChatGPT, it highlighted the immediate resistance for Bitcoin at $68,943 and $73,794. If Trump wins, AI predicts the uptrend to reach $80,171 with a possible extension to $89,263.
Conversely, a win for Harris can lead to a bullish failure to cross $73,794 and a potential retest of $65,827 (50-day EMA) or $63,085 (50% Fibonacci level).
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