Using Google Cloud’s Vertex AI platform, analysts at Spot On Chain developed forecasts for Bitcoin’s price in 2024-2025.
In the context of short-term prospects, experts anticipate that between May and July, the price of the leading cryptocurrency will remain in the range of $56,000-$70,000. This period is expected to be marked by increased volatility, with a 48% probability of falling below $60,000.
In the second half of 2024, analysts expect a surge in price movement. There is a 63% probability that Bitcoin will rise to $100,000.
“This forecast signals prevailing bullish sentiment in the market, which will be supported by the anticipated rate cuts following the December meeting of the FOMC. This could increase demand for risk assets like stocks and Bitcoin,” explained representatives of Spot On Chain.
There is a “compelling probability” — 42% — that in the first half of 2025, digital gold will surpass the $150,000 mark.
“The chances of Bitcoin’s price exceeding $150,000 rise to 70% when considering the entire year of 2025,” experts emphasized.
According to their observations, the leading cryptocurrency reaches a new all-time high 6-12 months after each halving.
According to Spot On Chain representatives, their analytical model is based on a comprehensive dataset that includes various historical trends and market factors. Specifically, it considers halvings, interest rate cycles, the ETF factor, venture investor activity, and Bitcoin sales by miners.
Earlier, Pomp Investments founder Anthony Pompliano predicted a correction and subsequent rise of digital gold to $100,000, with chances of reaching $150,000-$200,000.