After a massive dump in April of 15%, the Bitcoin price is struggling to kick off the next bull run. As the market anticipates a massive jump after the fourth Bitcoin halving, the BTC price struggles near the $60,000 level.
The market grows fearful with the halving moth turning red and the growing supply. Further, the 9 Bitcoin ETFs in the U.S. market failed to perform any significant bullish move in the past few weeks.
Contrary to the historic price trend suggestion of an extraordinary bull run, the current market sentiments spotlight certain speedbumps. So, we asked the ChatGPT to predict when will the bull run in Bitcoin start.
In the short-term picture, the Bitcoin price trend is under extreme supply pressure, evident by the ongoing pullback. As the pullback grows intense, the BTC price is on the verge of violating the $60,000 support twice in a matter of days. Thus, the biggest crypto, dominating almost 53% of the industry, is losing its bullish grip.
Currently, the BTC price trades at $60,810, with a Doji candle forming in the monthly chart. Further, the 5% drop this week puts the support zone at risk and warns of a downfall.
However, if the history stays true, the Bitcoin is awaiting a pivot point for a massive bull run in 2024. So, let’s ask the Artificial Intelligence, ChatGPT, to predict when will the bull run start.
Providing the AI model with our price analysis and the monthly chart marking the Bitcoin halving, ChatGPT provides a bullish view. With high anticipation of a bull run, the AI predicts the bull run will start this June at a gradual pace.
However, the high momentum uptrend could increase in November after the October rally.
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