OpenAI’s O1 predicts Bitcoin (BTC) price for late 2024

OpenAI, the leading company in artificial intelligence (AI) development, just launched its most advanced model, the o1, on September 12. To test the AI's capabilities and gain insights into the cryptocurrency market, Finbold asked o1 for a Bitcoin (BTC) price prediction for the end of 2024.

In an optimistic forecast, OpenAI's o1 believes Bitcoin could “experience significant upside momentum” and push prices above its all-time high (ATH). The conservative BTC price prediction puts it in the $80,000-$100,000 range by the end of 2024.

However, the AI ​​sees Bitcoin as bearish, potentially keeping it between $60,000 and $70,000. This would happen amid “adverse regulatory action, macroeconomic downturns, or sustained negative sentiment,” o1 wrote, which could depress the BTC price.

“Based on the factors mentioned, I assume that Bitcoin could reach around $90,000 by the end of 2024. This estimate assumes a positive market reaction to the halving event, continued institutional adoption through spot ETFs, and a stable macroeconomic environment. However, it is important to consider the high volatility of cryptocurrency markets and the potential for unforeseen events that can significantly impact prices.”

– OpenAI’s o1 model, via NanoGPTAPI from

Bitcoin (BTC) Price Analysis

Currently, Bitcoin is trading around the $58,000 mark and has seen a year-on-year growth of 119% since September 13, 2023. Conversely, the chart shows a six-month downtrend with lower highs and lower lows since the ATH of $73,800 in March.

Bitcoin needs to break out of this downtrend to regain the gains of the last six months and move higher.

Finbold has cited various analyses from prominent trading experts, most of whom are optimistic for the end of 2024. In particular, Credible cryptocurrency celebrated BTC hitting its downside target below $54,000 and said Bitcoin’s “full bull mode” could begin.

“Well, my downside target for $BTC has been reached, and the original idea shared below seems to have played out, although we haven't seen any relief in the meantime. I hope this means we can move into full bull mode sooner than expected.”

– Credible cryptocurrency

Interestingly, we also reported Cryptotrophy Target at $93,000, divided into a TradingView idea and urges investors to “stay strong.” This is a similar Bitcoin price prediction to that of OpenAI's o1, which confirms both forecasts.

The fundamental assumption for Bitcoin

In particular, the optimistic prediction for Bitcoin, OpenAI's flagship artificial intelligence model, relies on six features.

The first two mentions are about April's Bitcoin halving event, which affects BTC's linear supply pressure, and Bitcoin spot ETFs. While the second mention addresses demand, o1 also cites the regulatory environment and macroeconomic factors as key fundamentals to watch. On the macroeconomic front, the cryptocurrency market is currently awaiting the Federal Reserve's first rate cut, as Finbold reported.

Furthermore, BTC will depend on market sentiment and technical analysis as well as technological development and adoption for its success. OpenAI's o1 also provided insights into Nvidia's (NASDAQ: NVDA) stock price, which Finbold published this Friday.

As factors line up for the final quarter of the year, investors and traders should keep a close eye on these aspects. However, there may still be some volatility in the short term, potentially leading to losses on leveraged positions.

Disclaimer: The content of this website does not constitute investment advice. Investments are speculative. When you invest, your capital is at risk.