Bitcoin’s Weekly Close Above $100k

Bitcoin’s weekly close above $109k on Sunday – the highest in history – confirmed that the crypto bull market is well underway

The weekly close of Bitcoin above $109k on Sunday confirmed that the crypto bull market is well underway, which means time is running out for sidelined investors to position themselves for attractive gains in the coming weeks.

While several analysts are bullish on Bitcoin and altcoins like Ethereum, time is running out for investors to capitalize on the stellar returns that AI agents are discovering.

These agents are emerging as excellent tools to help discover the best cryptos to buy now, which also explains the bullish strength of their respective tokens.

For this article, we turned to the OG AI agent — OpenAI’s ChatGPT — to reveal its top crypto investment picks for the ongoing bull run.

ChatGPT’s Picks For The Best Cryptos To Buy Now

We asked ChatGPT’s 4.0 model about its pick for the most attractive crypto investments. We prompted it to create a diverse portfolio, including coins of all sizes and each top-performing sectors.

“Hey ChatGPT, which cryptos to buy now is a common query from traders and investors alike — what would be your reply — assume the investor wants a diverse portfolio across sectors and market caps.”

The AI divided its selections across three categories — Large Cap Core, Mid Cap Growth, and Small Cap Potential. Here are its picks.

Large Cap Core — Bitcoin, Ethereum, Solana

ChatGPT didn’t overcomplicate its picks for the best large-cap cryptos to buy now, going with the trusted Bitcoin, Ethereum and Solana.

ChatGPT highlighted Bitcoin as the “most trusted store of value in crypto”, as well as its strong ETF inflows and correlation with the global economy.

For instance, BTC is showing a strong correlation with the Global M2 money supply, which indicates that it could appreciate to $150,000 this year itself.

Global liquidity keeps rising, and #Bitcoin follows suit.

New target: $150,000.

Send it higher.

.

@MIDADIDADIOTI

suggesting a price target of 150k by the end of the year

«The price of bitcoin is currently at 107,000. This is in line with the global m2 money supply, which is a measure of the total money supply in an economy. As of December 2023, the global m2 money supply stands at about 90 quadrillion.

If we convert this to satoshis, we get 9E+29. We can then divide this number by the total number of bitcoins in circulation, which is 21 million, to get the price of bitcoin in satoshis. This calculation yields 4.285714285714286e+24 satoshis, or about $150,000 in U.S. dollars.

In other words, if the price of bitcoin continues to follow the global m2 money supply, we can expect it to reach at least 150k by the end of the year.»

The potential for Bitcoin to rise to such high levels is also linked to the recent approval of the first Bitcoin futures ETF in the U.S., which is set to begin trading on Monday, October 23.

The DEW (Direx) family of funds is now managing the ETC, which will be listed on the New York Stock Exchange (NYSE) and trade under the ticker "BTIC."

The move comes amid growing demand for cryptocurrency products from institutional investors. The approval of the Bitcoin futures ETF is expected to open the door for more cryptocurrency products to be listed on U.S. exchanges.

The news comes as the price of Bitcoin has been struggling to break out of a key resistance level around $105,000. The cryptocurrency is currently trading at about $104,000.

The Bitcoin price may also be influenced by the upcoming CPI data release on Thursday, September 14. Economists polled by Dow Jones are expecting the Consumer Price Index to rise 0.3% for the month and 3.9% year-over-year.

The report will be closely watched by investors for signs of inflation.

The Federal Reserve has been raising interest rates this year in an effort to curb inflation. The central bank's next monetary policy meeting is scheduled for October 24-25.

The Bitcoin futures ETF is expected to begin trading on Monday, October 23.

Meanwhile, Ethereum remains an attractive investment as well, especially now that the altcoin market cap is on the verge of a major breakout. The ETH price appears poised for a rally to $4000 in the coming week.

Finally, smart money investors are bullish on Solana as well, especially with the high likelihood of spot SOL ETF approval this year.

The Solana blockchain continues to be the hub for