Spot on Chain: AI predicts a 63% chance of Bitcoin reaching $100,000 in the second half of 2024
ChainCatcher news, the on-chain data analysis agency Spot on Chain stated on social media on April 25 that its analyst team used Google Cloud's Vertex AI to run multiple models. The AI predicts that the price of Bitcoin will range between $56,000 and $70,000 during May, June, and July, with a 48% chance of falling below $60,000 (at that time, the Bitcoin price was approximately $64,500).In the second half of 2024, significant volatility in Bitcoin's price is expected, with a 63% chance of reaching $100,000. In the first half of 2025, the probability of Bitcoin's price exceeding $150,000 is 42%, and if the range is extended to the entire year, the likelihood of achieving this target will increase to 70%.Spot on Chain stated that this is not investment advice, and predicting the future of Bitcoin is a complex task due to its limited history and the ever-changing market dynamics. These models are trained based on historical data, including Bitcoin halving, interest rate cycles, ETF performance, venture capital adoption of new cryptocurrencies, and historical data on selling pressure from Bitcoin miners.