Bitcoin Price Prediction: BTC Price Soars To A New ATH As  Kevin O’Leary Says He Won’t Invest In Companies That Ignore AI

BTC has soared 4.81% in the last 24 hours to trade at $116,620, with a 66.78% increase in daily trading volume to $ 101.06 billion.

Bitcoin Price Jumps as Kevin O’Leary Shuns Firms Ignoring AI

Bitcoin’s latest price surge comes as it reaches a new all-time high (ATH), sparking excitement among both retail investors and major institutions. Adding to the hum is a bold statement from investor Kevin O’Leary, who said he won’t back companies that ignore artificial intelligence.

According to O’Leary, businesses embracing AI have cut customer-related costs by roughly 60%, while those avoiding it are spending up to 10 times more, putting them at a clear disadvantage.

Kevin O’Leary Backs Bitcoin-AI Mining

O’Leary isn’t just giving advice; he’s investing in companies that combine Bitcoin mining with AI work. He believes the real value is in owning the tools and technology behind the scenes. What he calls the “picks and shovels”, not just in buying popular crypto apps or coins.

After the recent halving event, Bitcoin mining became less profitable. To adapt, many miners upgraded their data centres to handle both Bitcoin and AI computing. These new hybrid centres are now attracting more investor interest.

The connection between Bitcoin and AI is becoming a powerful story. People are starting to see Bitcoin not only as digital gold, but also as a key part of the growing AI and tech world.

Bitcoin Price Bullish Flag Breakout Signals More Upside

Bitcoin is currently trading at $116, 470.17 and the daily chart shows signs of a continued uptrend. The price has been rising steadily, from $99,000 in June, forming a bullish flag, signalling a bullish continuation as the price broke above a key resistance level at $108 490.

From a chart standpoint, Bitcoin has broken out of multiple bearish patterns, including a descending channel, signalling a strong structural shift. Increased volume suggests institutional accumulation.

BTCUSDT Analysis Source: Tradingview

BTC price is still trending above the 50 and 200-day Simple Moving Averages (SMAs), since the golden cross in May,  indicating strong momentum and an increase in buy pressure.

Bitcoin Price Eyes $125K as Overbought RSI Signals Possible Pullback

Moreover, the Relative Strength Index (RSI) at 71.66 suggests that the asset is currently overbought and buying pressure is still increasing.

Despite the bullish setup, Bitcoin remains prone to swift retracements. Elevated RSI and overbought signals at daily intervals hint at short-term consolidation. Should the bears take over the market, we could see the price of BTC drop to the immediate key support level at $98,397.

If the bulls sustain the current pressure, the price of BTC could soar, targeting the $120K to $125K mark in the coming weeks or even days.