ChatGPT Predicts: 6 Things That Will Trigger the Next Bitcoin Bull Market

By akohad Jun6,2023


Bitcoin has undergone numerous ups and downs in its relatively short history, but only a few have been proclaimed as a full-on bull market. The latest one was back in late 2021 when the cryptocurrency skyrocketed to its ATH of $69,000.

What followed was a massive price decline that resulted in BTC dumping all the way down below $20,000 amid multiple collapses in the industry, as well as galloping global inflation and war in Europe.

As bitcoin has recovered a lot of ground since its sub-$16,000 endeavor, the community frequently speculates whether a new bull market has already started or is it right around the corner. In this topic, we will explore what the AI chatbot ChatGPT thinks about it.


Although ChatGPT has had a few things wrong about BTC, such as its all-time high price, the chatbot provided some interesting findings on what could propel the next bull market. First and foremost, it highlighted global adoption, which comes in two parts – market and institutional – and we have combined them into one.

As far as market adoption goes, ChatGPT believes the cryptocurrency’s price will resume its upwards trajectory once more businesses start accepting it as a payment method. This will help “create positive sentiment and drive demand.”

“Factors such as the integration of Bitcoin payment options by major companies or the launch of regulated Bitcoin investment vehicles can contribute to a bull market.”

Institutional adoption could also help push BTC’s price up. Recall that numerous firms, such as MicroStrategy, MassMutual, Tesla, BlackRock, and others, either purchased portions of the asset or engaged with it in a different way during the last bull market. A repeat of this scenario could start another bull run.


Technological Developments

The AI chatbot also brought up certain tech developments that could be among the reasons behind another run-up. For instance, the Bitcoin network start seeing enhanced adoption and engagement after the Tarpoot upgrade, which allowed for the creation of NFTs on top of it.

So far, this has benefited miners in particular due to the increased number of transactions and the higher cost of fees. However, there are other factors and possibilities as well, according to ChatGPT.

“Significant advancements in Bitcoin’s underlying technology or improvements in scalability, security, or privacy features can generate excitement and attract more users and investors.”

Regulatory Clarity

Although several countries have made initial attempts to regulate the cryptocurrency industry in the past few years, it still remains largely unsupervised. In fact, some of the largest nations, such as China and the US, have either officially banned the asset class or simply failed to provide detailed regulations that can help it prosper while protecting investors at the same time.

Should that finally change, ChatGPT believes BTC’s price will start heading north once again.

“Clear and favorable regulations can provide a more stable environment for cryptocurrencies, increasing investor confidence. Positive regulatory developments, such as the recognition of Bitcoin as a legal form of payment or the establishment of supportive frameworks for cryptocurrency businesses, can encourage market growth.”

The landscape in the US has been particularly harmful in the past several months as the SEC, without providing clear guidelines on which crypto assets are securities, has gone after the likes of Coinbase, Binance, Kraken, and others.

Economic and Geopolitical Factors

As mentioned above, the war that broke out in Europe caused pain for investors in different sectors, including crypto. Additionally, the rising inflation and the central banks’ desperate attempts to fight it resulted in outflows from risk-on assets, such as BTC.

But on a more macro scale, ChatGPT believes the dire economic situation, currency devaluation, or political turmoil could turn people toward Bitcoin. The interest in the primary cryptocurrency will likely increase as people will be looking for “decentralized and non-government-controlled assets like Bitcoin.”

We saw similar developments in countries like Argentina and Turkey, where locals have been struggling with double- and even triple-digit inflation rates for a while. As such, ChatGPT echoed the words of legendary legacy investor Paul Tudor Jones III,

“In times of economic uncertainty, some investors may view Bitcoin as a hedge against traditional financial systems, potentially driving up its price.”

The Bitcoin Halving

Last but not least, the AI chatbot brought up the halving events. Incorporated into Bitcoin’s network since its inception in 2009, they occur at every 210,000 blocks (roughly four years) and aim to reduce the block rewards, thus decreasing the speed at which new BTC is being created.

The previous three halvings were followed by massive bull runs, and ChatGPT asserted that the next one – expected to take place in April next year – will likely lead to the same price movements.

“Historically, halving events have coincided with bull markets as reduced supply and potential increase in demand have had a positive effect on Bitcoin’s price.”

If you want to find more info on what ChatGPT believes will happen to BTC during and after the next halving, please check this article.

And if a new bull cycle indeed transpires, you might want to prepare yourself by checking these tips.


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By akohad

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