cryptocoin.comAs we have reported, with the fluctuations in the cryptocurrency market for a while, the artificial intelligence bot ChatGPT and machine learning algorithms designed by OpenAI made predictions for popular altcoin projects Ethereum (ETH) and Litecoin (LTC)!
Artificial intelligence bot ChatGPT announced: Price predictions for Ethereum (ETH)!
As you know, although many cryptocurrencies fell in late 2022, most of them recovered in 2023 at great levels. One of these cryptocurrencies is the leading altcoin Ethereum (ETH). ChatGPT cited the “continuing development and improvement of the Ethereum ecosystem, including upgrades to the Ethereum 2.0 protocol” and “growth of decentralized finance (DeFi) applications” as some of the factors that could affect the price of the crypto asset by 2025.
On top of that, the popular AI bot cited “adoption by large companies or financial institutions or partnerships with other blockchain projects” as well as “the number of clients and developers building on the Ethereum blockchain” as other positive factors that potentially increase its price. Finally, ChatGPT stated the following in his text:
Looking at the factors, it seems that analysts expect Ethereum to be between $4,000 and $10,000 for 2025. However, it should be noted that cryptocurrencies are risky and highly volatile assets. Therefore, investors should be careful and cautious while making their investments.
Price predictions for Ethereum and ETH price level
On the other hand, CoinPriceForecast in the analysis shows much less bullishness on the price of Ethereum (ETH) in 2025, and according to the latest data, it predicts a price of $ 2,685 by the end of 2024, while it predicts that it will end at $ 2,825 by mid-2025 and end 2025 at $ 2,446. .
Interestingly, the price prediction model on PandaForecast shows a more bearish trend, targeting $2,045 in January 2025, $1,319 in June and $1,752 in December 2025; Even the optimistic range sees $2,224 at the beginning of the year and $2,084 at the end.
Instantly, ETH was trading at $1,951 and gained 3% in the last 24 hours. On the other hand, its market value is around 234 billion dollars.
Artificial intelligence made price predictions for Litecoin!
Litecoin (LTC) has experienced a significant price drop recently, putting investors in a state of uncertainty about its future trajectory. Despite the highly anticipated halving event, which is expected to take place in the coming weeks, Litecoin has not been able to maintain its price levels. Litecoin was trying to reach the crucial $100 resistance level in its bid for a V-shaped recovery on April 26. However, the digital asset fell short of expectations and fell to $85 after briefly reaching $94.
Specifically, according to data retrieved on May 5, forecasts by the prediction platform CoinPriceForecast using machine self-learning technology show a decline in LTC price by the end of 2023 despite the halving event. LTC started 2023 at $70 and is currently trading at $88, meaning the price has increased by 25.7 percent since the beginning of the year. The price estimate for artificial intelligence (AI) at the end of 2023 is $83.42, a 5.2 percent decrease from the price on May 5. However, its mid-year price is expected to be slightly higher than its current price at $89.01.
Litecoin (LTC) price analysis
Litecoin is currently trading at $88, reflecting a slight increase of 0.37% in the daily trading session. However, Litecoin has dropped 1.55 percent in the past week, which indicates that the cryptocurrency market remains sensitive to market fluctuations. Despite the price drop, Litecoin’s market cap remains significant at $6.4 billion, ranking 12th by overall market cap. According to experts, the support level for Litecoin is currently set at $81.73. On the other hand, Litecoin’s resistance level is currently set at $94.53. It is important to note that exceeding this level of resistance may require a significant increase in demand.
Interestingly, last week, Litecoin ranked first among the top 3 most trending coins along with Bitcoin (BTC) on CoinGecko, followed by Pepe (PEPE) in second place.
However, crypto analyst Captain Faibik thinks the Litecoin halving event could trigger excitement and ‘Fear of Losing’ (FOMO) in the digital asset, which he believes could climb as high as $450.
$LTC will soon Trigger the Halving FOMO..📈🚀#Crypto #Litecoin #LTC #LTCUSDT pic.twitter.com/JoV2lMGiD3
— Captain Faibik (@CryptoFaibik) May 4, 2023
On the other hand, Litecoin creator Charlie Lee believes that the halving event that will take place in August could push Litecoin to make significant gains against Bitcoin. This belief is supported by Litecoin’s recent performance, which has risen 85 percent since hitting record lows against Bitcoin.
Litecoin founder Charlie Lee made predictions for LTC!
According to Lee, Litecoin’s potential gains against Bitcoin are not limited to this recent surge. Lee predicts that the LTC/BTC pair could rise by over 700 percent to as high as 0.025 BTC in the next bull cycle, attributing this to the bullish design of Litecoin. The words shared by the founder of LTC are as follows:
I can see an upside target of 10 percent (0.025 LTC/BTC). Reaching 5 percent (0.0125) in the next bull market shouldn’t be too hard. To be honest, I don’t think it will go much below 1 percent (0.0025) on the downside. The next halving will be in an average of 92 days and that will be fun.
Lee’s optimism about Litecoin’s potential gains against Bitcoin underlines the power of crypto to investors as an investment option to diversify their portfolios.
