The chance of Bitcoin's price touching and surpassing 100 000 USD in 2024 is 71 %, according to Wolfteam Ltd.'s projections and estimates.
Several factors are in place for Bitcoin's price to grow: the Federal Reserve targeting lower interest rate levels in 2024, enough computing power to drive artificial intelligence, AI which drives Bitcoin mining and the Bitcoin price action upward.
The computer chips and GPUs produced by NVIDIA, Intel and AMD are now enough to help drive the algorithms powering artificial intelligence, AI and Bitcoin mining. This provides for exponential development of AI and the associated products like artificial intelligence, machine learning, predictive statistical analysis and Bitcoin.
The power of computer chips to process neural networks information modelling is now very high and complex modelling, impossible ten years ago can be performed.
In addition, regulators are seemingly benevolent towards Bitcoin and other cryptocurrencies. That said, regulators and law upholding institutions are there to ward off criminal activity in Bitcoin, cryptocurrencies. And there is always the possibility that Bitcoin could be pressed by regulators and outright banned, which will hinder AI's process.
In short, the stars seem to be aligned for Bitcoin's price to relatively soon touch and cross the level of 100 000 USDs.
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