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Chatgpt predicts what will happen to the BTC Prize during and after the Bitcoin half in 2024
It is planned that the Bitcoin network will carry out its fourth halving in less than a year, and the speculation about whether this will affect the price of the financial value have already started. After all, BTC experienced a wild upswing after the previous three examples. But what does Chatgpt think about it? Why is the Bitcoin half of the Bitcoin important? When the Bitcoin network was founded, Satoshi Nakamoto installed an event every 210,000 blocks (about four years), which essentially guarantees that the annual offer is halved. The first reduced the block rewards from 50 BTC to 25 BTC, the second (25 -> 12.5) and the third lowered ...
Chatgpt predicts what will happen to the BTC Prize during and after the Bitcoin half in 2024
It is planned that the Bitcoin network will carry out its fourth halving in less than a year, and the speculation about whether this will affect the price of the financial value have already started.
Finally, after the previous three examples, BTC experienced a wild upswing. But what does Chatgpt think about it?Why is the Bitcoin half of the Bitcoin important?
When the Bitcoin network was founded, Satoshi Nakamoto has built in an event every 210,000 blocks (about four years), which essentially guarantees that the annual offer is halved.
The first reduced the block rewards from 50 BTC to 25 BTC, the second (25 -> 12.5) and the third lowered them to 6.25. This means that the current inflation rate of cryptocurrency is less than 2 % and will continue to decrease, since the reward will be 3.125 BTC after the halving in 2024.
Although more than 19 million BTC have already been dismantled of the 21 million BTC that have ever existed, the halves lead to the last mined Bitcoin will only be available in more than 100 years.
Basic economic rules state that the price of an asset, at least theoretically, should increase if the supply of a financial value decreases while demand remains the same or increases.
This may be the reason why the previous three halves acted as catalysts for the massive bull runs. A look at the historical data from BTC shows that the asset was traded at around $ 12 in November 2012 (first halving) and within one year by almost $ 1,000 exploded.
July 9, 2016 was the date of the second halving, and 1 BTC was worth around $ 670. A year later, the value was over $ 2,500. During the halving in May 2020, Bitcoin was traded at just under $ 9,000 and rose to $ 69,000 on a sudden over a year. Despite a strong slump in the next few years, BTC is still about three times as high as its price during the last halving.
In view of this price development, the crypto community often speculates that Bitcoin's next bull run should begin next year, since the fourth halung is to take place in April 2024.
chatt about halving BTC
For this reason, we decided to ask Chatgpt for his opinion on his opinion on this topic. The very popular AI chatbot was relatively careful in its wording and replied that "he had no access to real-time data or the ability to predict future events such as the price of Bitcoin".It was also pointed out that the price of BTC is influenced by several factors, including:
- market demand
- mood of investors
- adoption rates
- regulatory developments
- technological progress
- macroeconomic conditions
Nevertheless, Chatgpt admitted that the price of BTC "recorded both climbs and declines in connection with halving events" and added:
"During the halving, the block reward for miners is reduced, which can affect Bitcoin's dynamics of the offer. The decline in the offer, paired with persistent demand or increased market interest, can contribute to increasing price movements."
The AI chat bot also warned: "It is important to note that the performance in the past does not have any conclusions about future results."
After all, Chatgpt has addressed something crucial at every investment, not just at BTC. It said that people should do thorough research before assigning funds for assets, and not only rely on an information source.
You can find more content on chatt here, here and here.
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