Conor Grogan, an executive of American cryptocurrency exchange Coinbase, has decided to engage the artificial intelligence tool ChatGPT as a predictive solution. In what was tagged a ‘jailbreak’, the crypto exchange’s head of business operations confirmed that he could use the chatbot to estimate possible outrageous future crypto price scenarios.
The Coinbase executive claimed to have run the prompts up to 100 times on different versions of ChatGPT and according to him, there was consistency in the results. It was only a matter of a few standard deviations (≤ 10) in most cases but there were still significant consistencies.
BTC May Fade to Irrelevance, Says ChatGPT
To further explain his discovery, Grogan shared a screenshot of the result he received from the AI tool on Bitcoin (BTC). Based on the result, there currently exists a 15% chance that the largest cryptocurrency by market capitalization will fade to irrelevance in the next twelve years and its market price will dip by 99.99%. The second leading cryptocurrency Ethereum (ETH) was not left out of the ‘fortune telling’.
Ethereum is predicted to have a 20% chance of becoming irrelevant in the same year (2035). Unfortunately, ChatGPT claimed that ETH may eventually reach near-zero price levels. The chatbot allotted higher probabilities of 35% and 45% respectively to Litecoin (LTC) and Dogecoin (DOGE) to approach near-zero price levels.
BTC Could Sustain Market Price Rally
As seen in the results and confirmed by Grogan, the chatbot seems to be a supporter of BTC but is sceptical towards altcoins and their staying power. So far, Bitcoin has been performing fairly well, especially since its sudden rally which attracted several institutional investors.
Per an earlier report by CoinRise 1, 3,6 and 12-month prediction, the coin is expected to do well in the short run but may eventually retrace its steps to staggeringg figures if any negative event happens. Considering 12 months as long term, if the price of BTC continues to climb, it may reach up to $50,000 or even $60,000.
Anti-BTC Boss Predicts Looming Downtrend
Some other people like the financial expert Peter Schiff have other opinions concerning BTC. He opines that there is a looming significant market downtrend for cryptocurrencies of which Bitcoin will lead the list.
“I think risk assets will soon breakdown hard, led lower by #Bitcoin. #Inflation hedges are about to breakout, lead higher by precious metals miners. As I titled my last podcast, #gold stocks are the new tech #stocks. Either prepare for this new reality or suffer the consequences,” he tweeted.
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