Spot on Chain: AI predicts that Bitcoin has a 63% chance of reaching $100,000 in the second half of 2024

According to BlockBeats, Spot on Chain, an on-chain data analysis agency, posted on social media on April 25 that its analyst team ran multiple models using Google Cloud's Vertex AI. AI predicts that the price of Bitcoin will be between $56,000 and $70,000 during May, June and July, with a 48% probability of falling below $60,000 (the price of Bitcoin was about $64,500 at the time). In the second half of 2024, Bitcoin prices are expected to fluctuate significantly, with a 63% chance of reaching $100,000. In the first half of 2025, the probability of Bitcoin prices exceeding $150,000 is 42%, and if the range is extended to the whole year, the probability of achieving the goal will increase to 70%. Spot on Chain said that this is not an investment advice, and predicting the future of Bitcoin is a complex task due to Bitcoin's limited history and changing market dynamics. These models are trained based on historical data, including historical data on Bitcoin halving, interest rate cycles, ETF performance, venture capital adoption of new cryptocurrencies, and selling pressure from Bitcoin miners.