Bitcoin (BTC) has seen tremendous growth over the past decade in the United States, even without the approval of a spot BTC ETF.
However, Google’s AI model Bard predicts that the price of BTC could skyrocket in 2024 if the SEC finally allows one of these ETFs to be activated.
In this article, we will look at Bard’s Bitcoin price prediction and another altcoin that Bard expects to perform well in the future.
Long-awaited spot Bitcoin ETF finally nears approval
The prospect of a spot Bitcoin ETF being approved in the U.S. has created enormous anticipation in recent months.
As of this writing, it appears the SEC is finally ready to give approval after years of denials and delays.
They have worked extensively with publishers to resolve outstanding issues related to models, approved participants, fork handling, etc.
Eric Balchunas, a prominent ETF analyst, said the SEC is currently conducting a late-stage review and approval could come as early as this week.
The approval will allow spot Bitcoin ETF trading in the United States for the first time. However, these funds are already available in Canada and some European countries.
Currently, only Bitcoin futures ETFs are available to US residents.
Overall, the market is now widely expected to see a breakthrough after countless setbacks, with the ETF approval potentially bringing a wave of institutional capital into the sector.
This influx of capital could significantly improve Bitcoin’s legitimacy as a viable asset class.
AI Model Google Bard Predicts Bitcoin Price After ETF Approval
Bard, Google’s conversational AI, sees significant upside potential for Bitcoin if the SEC approves a spot BTC ETF.
Bard highlights increased institutional investment, increased legitimacy, and reduced volatility as potential price catalysts.
As major players like pension funds become more accessible, new capital could flow into Bitcoin, driving up the price of the coin.
Regulatory approval would also boost Bitcoin’s reputation and attract reluctant investors.
Bard also points out that ETFs typically offer diversification and liquidity benefits that can help smooth out price fluctuations.
Taking all of this into account, Bard anticipates a 10% price increase to $48,642 once limited new demand is realized following approval.
However, if approval sparks a surge in institutional and retail interest, Bard expects the price to potentially rise 25% to $55,275.
Finally, in a very optimistic scenario, Bard predicts that Bitcoin could surge 50% to $66,330.
If the latter scenario occurs, it would place Bitcoin just below its 2021 all-time high of $68,789.
Which cryptocurrencies is Google Bard bullish on?
While Bard was relatively optimistic about Bitcoin’s prospects in 2024, he also highlighted several other cryptocurrencies that could be poised for growth.
One cryptocurrency that appears to have caught Bard’s attention is Bitcoin Minetrix (BTCMTX), a new Ethereum-based platform that aims to transform the BTC mining space.
Google Bard predicts a potential 20x profit for BTCMTX as pre-sale demand grows.
The core premise of Bitcoin Minetrix is that by holding native BTCMTX tokens, users can engage in cloud mining Bitcoin without owning expensive equipment.
Bitcoin Minetrix handles mining through partnerships with existing cloud mining providers, greatly streamlining the mining process.
Token holders can stake BTCMTX to generate BTC rewards or earn a share of the associated mining revenue.
This “Stake-to-Mine” model aims to provide an accessible way for average investors to generate a passive income stream.
Currently more than 16,600 people Follow Bitcoin Minetrix on TwitterDemonstrates tremendous interest in the features and goals of the project.
Google Bard sees solid near-term revenue potential as Bitcoin Minetrix builds adoption following its ongoing presale.
If the platform is successfully launched and users accumulate, Bard predicts that BTCMTX could reach up to $0.0635 after pre-sale.
Bard predicts that with strong execution and marketing, BTCMTX may reach $0.127 in the next 12 months, reflecting a potential 10x profit.
Finally, if the project gains significant traction and institutional buy-in, Bard’s hypothetical long-term price target is $0.254, a 20x increase over the pre-sale price.
Those wishing to participate in the pre-sale can purchase BTCMTX tokens for $0.0127 using ETH, USDT, or credit/debit cards.