Leading AI chatbots Google Bard and ChatGPT predict Dogecoin price if Bitcoin claims Bloomberg’s $500,000 price prediction.
In December 2023, Bitcoin surpassed $42,000, marking the start of the ongoing bull run. Following this, Bloomberg do a bold price prediction, suggesting the industry’s first-born could reach $500,000.
Bloomberg’s Bitcoin Price Prediction at $500,000
Notably, the $500,000 forecast would represent an impressive 1,090% increase from the $42,000 level. at the time. Today, with Bitcoin trading at $96,000, the leading crypto asset only needs a 420% rally to reach Bloomberg’s ambitious target.
Interestingly, Bitcoin’s predicted rise could ripple through the crypto market, especially among altcoins like Dogecoin. Historically, Dogecoin has shown a strong tendency to follow the price movements of Bitcoin.
Data from IntoTheBlock reveals a 97% price correlation between Dogecoin and Bitcoin over the past month.what makes it it is likely that a Bitcoin rebounds to $500,000 could trigger a massive rise in the price of Dogecoin.
This raised the question: How high could the price of Dogecoin rise if Bitcoin reached $500,000? To explore this, we asked the opinions of two of the most prominent AI chatbots, Google Gemini and ChatGPT.
ChatGPT predicts Dogecoin price if Bitcoin hits $500,000
OpenAI’s ChatGPT outlined three potential scenarios based on Dogecoin’s correlation with Bitcoin and its greater volatility.
The first scenario considers a case where Dogecoin matches Bitcoin’s 420% rally. Notably, if Dogecoin rises in direct proportion to Bitcoin’s projected 420% increase, its price could rise from $0.32 to $1.66, a new all-time high.
Additionally, the AI ​​chatbot considered a scenario in which Dogecoin outperforms Bitcoin due to Dogecoin’s reputation for larger price movements. If Dogecoin increases 1.5 times the percentage increase of Bitcoin, its price could rise to $2.34.
However, in a less optimistic scenario, ChatGPT predicts that Dogecoin could underperform Bitcoin. In such a scenario, he predicts a Dogecoin rally of just 0.8 times Bitcoin’s increase, which could take its price to $1.39, still a new ATH.
Google Gemini predicts Dogecoin price if Bitcoin hits $500,000
Meanwhile, Google Gemini (formerly Google Bard) is more optimistic. It took into account Dogecoin’s historical tendency to exhibit extreme volatility during bull runs. The chatbot explored three volatility scenarios, suggesting that Dogecoin could outperform Bitcoin’s rally.
In a moderate volatility scenario, with Dogecoin’s rally doubling Bitcoin’s gain percentage, Gemini expects Dogecoin the price will increase to $3.01.
Additionally, the AI ​​chatbot predicts a high volatility scenario, in which Dogecoin could increase up to three times the percentage increase of Bitcoin. In this scenario, Google Gemini predicts that the value of Dogecoin could reach $4.36.
Meanwhile, in the most aggressive scenario, Gemini predicts that Dogecoin could increase five times the percentage of Bitcoin, reaching an ambitious target of $7.05.
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