Bitcoin began October positively, recently achieving an all-time high above $126,000. However, it has since experienced a downturn, prompting hopes for a significant recovery in November.

To gauge the likelihood of a new all-time high, we consulted several popular AI chatbots.

Bitcoin’s Potential for High Gains

ChatGPT assessed that with favorable conditions, Bitcoin (BTC) could reach unprecedented heights next month. It indicated that typically, BTC rallies 12 to 18 months after a halving event, positioning late 2025 as a critical time for potential gains.

Furthermore, the chatbot highlighted that BTC reserves on exchanges have hit multi-year lows, where CryptoQuant’s data reports under 2.4 million BTC on exchanges, nearing a seven-year low.

BTC Exchange Reserves, Source: CryptoQuant

ChatGPT also noted the Federal Reserve’s recent interest rate cut, which could favor riskier assets like cryptocurrencies in the long haul. However, it emphasized that surpassing the $110,000-$115,000 range with strong volume and institutional support would be necessary for a new ATH.

Additionally, Grok forecasted a high likelihood for BTC, citing recent accumulation patterns akin to those observed before its previous ATHs in 2020 and 2021.

“Bitcoin has a strong shot at a new ATH in November 2025, potentially reaching $140,000-$160,000 if ETF momentum and Fed easing persist. This aligns with the typical post-halving bull cycle, showcasing gains of 30-50% in Q4,” it mentioned.

A Cautious Outlook

Conversely, both Perplexity and Gemini provided a more tempered view, indicating possible risks of a significant drop. Perplexity warned that while a rise above $117,000 could lead to new peaks, escalating global tensions might cause a downturn below $100,000. Gemini acknowledged the possibility of a new ATH but cautioned about the unpredictability of the crypto landscape.

“The last time Bitcoin experienced a ‘Red October’ was in 2018, which resulted in a significant 36% decline in November,” it cautioned.