As a reminder, this is not the first time ChatGPT has been asked to comment on the cryptocurrency world. Last week, the bot outlined what the future would look like for the blockchain industry ten years from now. At the time, the artificial intelligence said that the digital asset niche will definitely be adequately regulated and that the coins themselves will be much more popular among large investors.

A little later, the artificial intelligence commented on the prospects of Etherium coming out on top in the cryptocurrency rankings. While ChatGPT did not announce any dates, it did note that the ETH network has the potential due to the popularity of decentralised finance and NFT in this fight.

What happens after Bitcoin’s halving?

Bitcoin creator Satoshi Nakamoto wrote an important rule in the cryptocurrency’s code, which involves halving the miners’ reward per mined block every 210,000 blocks. And because it takes about ten minutes on average to mine a block, the so-called halving occurs approximately every four years.

The first miners on the network received a reward of 50 BTC per block. This was then reduced from 50 BTC to 25 BTC during the debut halving event in 2012. After two subsequent events, miners' remuneration fell to the current 6.25 BTC. That is, BTC inflation is currently below 2 percent if you take into account the coins already mined. Well, during the next halving it will be even lower.

One of the basic rules of economics says that if the supply of an asset decreases while the demand for it is stable or growing, then the price must go up. Perhaps that is why the previous three halvings served as catalysts for large-scale bullish trends. Yet at the time of the first halving in November 2012, Bitcoin was only worth about $12, but a year later its price had risen almost a hundredfold and crossed the thousand-dollar line for the first time in history.


It is fair to say that not all experts attribute the rise in the cryptocurrency market in general and Bitcoin in particular to the latter's halvings. Still, as of today, miners have mined more than 92 per cent of the first cryptocurrency's total circulation. Accordingly, the lower rates of the paltry number of remaining coins are not affecting demand in a way that would cause investors to run to exchanges and buy up new BTC.

Instead, analysts tend to think that the timing of halving simply coincides with the length of market cycles in cryptocurrencies. In other words, four years between halwings is enough time for the coin industry to go through one full up and down phase.


By July 2016, the value of BTC had fallen to around $670. One year after another halving, the major cryptocurrency reached $2,500. The last of all the halvings that occurred was in May 2020 – from that time until the new all-time high, there is a huge stretch on the chart from $9,000 to a peak of $69,000.

All these events are already known to ChatGPT, because OpenAI’s artificial intelligence is trained on data from the internet up to 2021. The bot also understood the sentiment of traders on the halving, but was not too categorical in its prediction. ChatGPT noted that BTC price movement depends on the following factors:

• market demand;
• investor sentiment;
• the rate at which the cryptocurrency becomes popular;
• the attitude of regulators towards digital assets;
• technological advances;
• macroeconomic conditions.

That said, Bitcoin has seen both sharp ups and notable downs since the halving. However, ChatGPT’s long-term outlook remains positive. Here’s the relevant cue the bot gave out.

During halving, the reward per block for miners decreases, which could affect Bitcoin’s supply dynamics. Reduced supply combined with stable demand or even increased interest from market players could contribute to an upward price movement.

ChatGPT left an important caveat at the end of its message – the historical profitability of the asset is not an indicator for future price performance. Bitcoin knows how to surprise – including in a bad way. As such, the next halving may well not be as bright as everyone expects it to be.

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Popular crypto trader TechDev has shared another interesting opinion on his Twitter – he believes that Bitcoin’s global bullrun will start even before the halving itself. According to his prediction, the main cryptocurrency will set a new historical high in the second quarter of 2024.

The cryptocurrency fanatic’s prediction is based on one global trendline as well as Fibonacci levels. The latter is a popular trading tool based on Fibonacci numbers and determining the current trend of an asset. If the prediction becomes reality, Bitcoin will rise by about 500 percent over the next year – up to $160,000.

Traditionally, we should note that even the most experienced investors and traders' forecasts are not bound to come true, because the market will behave the way it wants to. As such, one should only treat such predictions as possible versions of the future. For beginner crypto investors, it is also definitely not a good idea to rely on any prediction and invest according to it more than they are willing to lose.

By the way, this isn’t the most incredible prediction yet: we previously wrote about Balaji Srinivasan’s prediction, who expected Bitcoin to be worth a million dollars by mid-June 2023. Earlier this month, however, he stepped out of the controversy and used the opportunity to remind us just how active the government can sometimes be in printing money.


The artificial intelligence seems to generally agree with the theory that Bitcoin, and the coin market in general, could rise after the BTC network halved. At the same time, ChatGPT noted a list of necessary conditions for a positive prediction to materialise. Accordingly, the popularity of digital assets will in any case depend on conditions in the global economy and investors' willingness to take risks at the expense of the coin link.


What do you think about this? Share your opinion in our crypto-chat of former millionaires. There we will discuss other important developments that affect the world of blockchain and decentralisation in one way or another.