In an era of technological advancements, artificial intelligence (AI) models have become a source of intrigue and curiosity. So, we turned to Bard, Google’s famous AI experiment, to gain insights into the potential rise of Bitcoin (BTC)
Google Bard: Bitcoin Shows Mixed Sentiment
We sought insights from AI-powered Bard regarding the potential price trajectory of Bitcoin by the end of 2023. Bard clarified that it is impossible to accurately determine the price for Bitcoin (BTC) with certainty due to its sensitivity to various factors, including the global economic landscape.
Yet, Bard proceeded to objectively present bearish and bullish predictions for Bitcoin from industry experts. Some experts believe BTC could reach $50,000 by 2023, while others anticipate a decline to $20,000 or even lower.
Interestingly, Bard underscored the significance of the institutional adoption of Bitcoin. Increased interest from institutions has the potential to drive BTC prices higher. Notably, the previous all-time high of nearly $69,000 for Bitcoin was partly fueled by institutions entering the cryptocurrency space.
Currently, Bitcoin trades at $27,709.34, which is far closer to the bearish forecasts. On the other hand, the weekly chart of Bitcoin has seen an increase of 5.36%. The increasing price of Bitcoin indicates a bullish market as all other altcoins have started to recover following the step of Bitcoin prices.
