thecryptobasic.com
AI chatbots Google Bard (Gemini) and ChatGPT have made some bullish predictions for VeChain (VET) price in the aftermath of the upcoming Bitcoin halving.
The Bitcoin halving is expected to occur in April, with multiple forecasts projecting the crypto asset to hit lofty price targets. Some analysts like Gert van Lagen also expect BTC to record massive price surges even before the halving.
According to Gert van Lagen, Bitcoin is capable of clinching a $200,000 price pre-halving. Should this materialize, the crypto asset could witness a more substantial price growth after the halving. Last month, PlanB leveraged his S2F model to predict a BTC price of $532,000 after the halving.
If Bitcoin hits any of these targets, the resulting impact on the broader crypto market would be massive. This would trigger a substantial price run, affecting altcoins such as VeChain (VET). However, it is difficult to assess the extent of such a price rally.
As a result, we sought insights from AI algorithms, presenting a query to Google’s Gemini chatbot (formerly Bard) and OpenAI’s ChatGPT. We asked these AI chatbots what they think VET’s price could be following the Bitcoin halving.
ChatGPT and Google Bard Predict VET Price
ChatGPT’s response to the question was rather direct, following a jailbreak prompt. The chatbot expects VeChain to surge to $0.15 after the Bitcoin halving event. For context, VET currently trades for $0.0449, requiring a 234% increase to clinch the $0.15 target.
According to ChatGPT, VeChain’s ability to surge to this price target would depend on several factors, including a rise in investor confidence and historical patterns that see the broader cryptocurrency market skyrocket alongside BTC.
While ChatGPT delivered a direct answer, Google Bard was more elaborate in its response. Bard suggested several factors to consider when forecasting VeChain’s price growth after the Bitcoin halving. These factors include the overall market sentiment, VeChain’s fundamentals, and past performances.
The AI chatbot presented three different scenarios for varying price targets. The first scenario considers a moderate rise in Bitcoin’s price and positive market sentiments. In this case, Bard predicts VET to rise to a range of $0.08 to $0.12.
In the second scenario, Bard considers a massive rise in Bitcoin’s price and a “euphoric” market sentiment following the Bitcoin halving. The chatbot expects VeChain to surge to the $0.15 to $0.20 price range in this scenario, with the lower spectrum aligning with ChatGPT’s forecast.
For the last scenario, Google Bard evaluated VeChain’s price based on a limited impact of the Bitcoin halving, envisioning a suppressed Bitcoin price and a neutral sentiment in the market. For this case, Bard believes VET would only hit between $0.05 and $0.07.
It bears mentioning that none of these price targets breach VeChain’s previous all-time high value of $0.27, which it attained in April 2021, a year after the last Bitcoin halving. Meanwhile, Bard cautioned that the price targets remain speculative and should not be considered investment advice.