Prominent AI chatbots Google Bard and ChatGPT predict Dogecoin price if Bitcoin takes Bloomberg’s $500,000 price prediction.
In December 2023, Bitcoin surpassed $42,000, marking the beginning of the ongoing bull run. Following this, Bloomberg made a bold price prediction that suggests the industry’s firstborn could rise to $500,000.
Bloomberg’s Bitcoin price prediction for $500,000
Notably, the $500,000 forecast would represent an impressive 1,090% increase from the $42,000 level at the time. With Bitcoin trading at $96,000 today, the leading crypto asset only needs to rise 420% to reach Bloomberg’s ambitious target.
Interestingly, Bitcoin’s predicted rise could have an impact on the crypto market, especially altcoins like Dogecoin. Historically, Dogecoin has shown a strong tendency to follow Bitcoin’s price movements.
Data from IntoTheBlock shows a 97 percent price correlation between Dogecoin and Bitcoin over the past monthcreate it probably that a Bitcoin rally to $500,000 could trigger a massive increase in the price of Dogecoin.
This has raised the question: How high could the price of Dogecoin rise if Bitcoin hits $500,000? To investigate this, we sought the opinions of two of the most popular AI chatbots, Google Gemini and ChatGPT.
ChatGPT predicts Dogecoin price if Bitcoin hits $500,000
OpenAI’s ChatGPT outlined three possible scenarios based on Dogecoin’s correlation with Bitcoin and its greater volatility.
The first scenario considers a case in which Dogecoin corresponds to Bitcoin’s 420% rally. Especially if Dogecoin rises in direct proportion to Bitcoin’s predicted 420%…
