Published September 29, 2023 at 2:38 p.m. ET
OpenAI’s language model, ChatGPT, has recently reignited interest in artificial intelligence due to its potential to provide market insights, particularly for Bitcoin, according to a report released Friday. The discussion focused on the possible outcomes of Bitcoin’s price after its halving in 2024, a topic raised by Finbold for the proof-of-work (PoW) cryptocurrency and decentralized finance (DeFi) asset.
ChatGPT presented three potential scenarios for the future of Bitcoin. The optimistic scenario involves widespread adoption of digital currency, favorable regulations, and increased institutional investments. Conversely, a pessimistic outlook could arise from regulatory and safety concerns.
The report further highlights the influence of crypto-specific and macroeconomic sectors on these volatile forecasts. Although AI tools such as ChatGPT can provide useful insights, the importance of individual research when making investment decisions has been highlighted.
This recent development has once again put AI in the spotlight as a potentially valuable tool for financial forecasting and decision-making. As cryptocurrencies continue to gain traction in traditional finance, models like ChatGPT could play an increasingly important role in providing nuanced market insights.
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Written by: Investir.com