We asked ChatGPT if Bitcoin (BTC) could reach a new ATH this month.

TL; DR

Bitcoin's price has recently fallen but is starting to recover, raising hopes for a possible rally in May. Favorable regulations and increased institutional adoption could fuel a significant BTC price rally (according to ChatGPT).

What are the odds of a BTC Rally in May?

Despite a promising start to the year and a peak in March, Bitcoin's growth stalled in April. The major cryptocurrency did not start May on the right foot, falling to $56,800 (the lowest level in two months).

The last couple of days were a little more optimistic, with BTC regaining some lost ground and briefly making it to the $60K mark. Therefore, we decided to ask ChatGPT if the asset could find a more significant rally this month and hit a new ATH.

While the popular AI-powered chatbot didn't rule out the possibility, he outlined a number of factors that would need to happen for such a price expansion.

Appropriate regulatory news It is mentioned As part of a higher contribution. Chatgpt speculated that the approval of more ETAF could lead to a revival. Another regulatory development that could have a positive impact on the entire cryptocurrency market is Ripple's decisive victory in its legal battle with the SEC.

Keep in mind that the trial between the companies began in late April, and the company has already won three partial court victories.

of The second most important thing It is an institutional adoption named after ChatGPT.. Increasing adoption by large institutions such as investment funds, banks or corporations can contribute significantly. Capital flow Getting into Bitcoin,” the chatbot said.

Technological developments, market sentiment, macroeconomic conditions and supply dynamics are also factored in. To the list of essential ingredients.

Signs that a BTC increase is coming

Several indicators suggest that Bitcoin's correction may not last long. One example is the MVRV (market value to real value) measure, which has been experiencing a decline since early April.

A score above 3.5 indicates that the price of BTC is close to the maximum, while a score below 1 warns of a downside. MVRV ratio He fell To 1.87 on May 2, flashing a buy signal for the asset.

Another token is the BTC exchange Net flowThe last two weeks have been mostly negative. turn into From centralized platforms to self-sustaining methods, it is considered bullish because it immediately reduces sales pressure.

Maybe the year Most of it Clear A sign that a Bitcoin bull run is just around the corner Half of it Done last month. The event, followed by rewards for miners verifying blocks on the blockchain They are cut In half, the history of A Main Revival of the entire crypto sector. For those willing to learn more about the difference, feel free to watch our exclusive video below: