News Flash: Bitcoin Starts 2024 on a High Note 🚀

Bitcoin (BTC) started 2024 on the right foot, the price slowly rose in the first quarter and even reached a new record high of over $73,500 in mid-March. However, the last two months have not been very successful, the asset briefly fell below $60K and is currently trading around $63,000.

Is a new bull run on the horizon this year? ChatGPT, an AI-based chatbot, claims that predicting Bitcoin price behavior is quite speculative and depends on several factors. A possible new bull run could be triggered by technological developments, increasing adoption, positive investor sentiment, public interest, geopolitical events and more.

In addition to these factors, ChatGPT touched on two specific elements that could trigger an increase in BTC prices: actions from the US Federal Reserve and the outcome of Ripple's lawsuit against the US SEC.

If Ripple wins its legal case against the SEC, it could spark a revival in the crypto market as a whole. "A win for Ripple may be seen as a defeat for potential overreach by regulatory bodies like the SEC, increasing investors' confidence in the primary cryptocurrency's resilience to regulatory challenges. This could encourage retail and institutional investors to increase their bets on cryptos, including Bitcoin," the chatbot said.

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