Bitcoin Price Prediction: As Coinshares Says BTC Miners May Shift To AI After The Halving, This Learn-To-Earn BTC Project Soars Towards $1M

The Bitcoin price has surged by 1.7% in the last 24 hours to trade at $66,119 as of 7:05 a.m. EST on a 13% surge in trading volume to $19.93 billion.

This surge coincides with CoinShare’s pronouncement that crypto miners may start exploring artificial intelligence (AI) to boost their earnings as costs soar after the BTC halving. 

Mining companies like BitDigital (BTBT), Hive (HIVE), and Hut 8 (HUT) are already profiting from AI, it said. TeraWulf (WULF) and Core Scientific (CORZ) are also engaged in AI operations or has plan to expand into that realm, it added.

The halving, which occurs every four years, slashes the rate of Bitcoin supply growth by 50%.

Bitcoin Price Rebounds On A Double Bottom Pattern

The Bitcoin price shows signs of a turnaround from a long period of decline since reaching a high of $73,000. It’s formed a double-bottom pattern, suggesting a shift towards a more positive trend. 

The bulls showed resilience in the $60,440 support zone, pushing the price to $66,540. Increased momentum might push the price above this level to reclaim its all-time high at $73,737.

BTCUSDT Analysis By Tradingview

The technical indicators show that the price surpasses the 50 simple moving average (SMA). However, the bulls will need enough force to push the price above the 200 SMA) on the 4-hour chart to confirm the general upward movement. 

The Relative Strength Index (RSI) also shows a gradual uptrend from the oversold level of 30, bouncing back past the 50 midline level to 61. Increased momentum should see the RSI climb back into the overbought zone.

Bitcoin Price Bulls Gear Up For Another Bull Rally

The Bitcoin price bulls seem ready for another upward surge. Recent green candles from the support zone at $60,440 indicate the bullish trend reversal, forming a double-bottom pattern. If things go as expected, this could fuel a bullish rally, potentially pushing the price past $0.07281 in the weeks ahead.

In the converse case, if the bulls are unable to penetrate the 200 SMA, the bears will take advantage to apply downward pressure in a corrective phase. This will force the bulls to retreat to $63,700 support zone coinciding with the 50 SMA.

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