Spot on Chain posted on the X platform on April 25 that its institutional analyst team used Google Cloud's Vertex AI to run multiple models to predict the price of Bitcoin.
AI predicts that the price of Bitcoin will be between $56,000 and $70,000 during May, June and July, with a 48% probability of falling below $60,000 (the price of Bitcoin was about $64,500 at the time). In the second half of 2024, Bitcoin prices are expected to fluctuate significantly, with a 63% chance of reaching $100,000. In the first half of 2025, the probability of Bitcoin prices exceeding $150,000 is 42%; if the range is extended to the whole year, the probability of achieving this goal increases to 70%.
Spot on Chain said that this is not an investment advice, and predicting the future trend of Bitcoin is a complex task due to Bitcoin's limited history and changing market dynamics. These models are trained based on historical data, including historical data on Bitcoin halving, interest rate cycles, ETF performance, venture capital adoption of new cryptocurrencies, and Bitcoin miners' selling pressure.
Alex
