Unless you’ve been hibernating for the last four months, it is hard to avoid the subject of Artificial Intelligence and, most notably, the generative AI called Chat GPT. This relatively old technology took the world by storm in just a few weeks and impacted pretty much anyone working with a computer.
The crypto industry is no stranger to change, and many of us have seen new opportunities to thrive, like playing at an online casino with this powerful tool. While some people have been legitimately frightened by the sheer competency of this “thinking” robot, other tech enthusiasts are contemplating the infinite possibilities that AI robots can give to the world. Yes, that means new tokens and coins, and yes, it means that the future of blockchains will be intertwined with AI tools shortly.
The future is now, and it’s about time to better understand what Artificial Intelligence could do to crypto investing.
BTC Predictions: 0 or 100 000 $? Future sounds exciting
There hasn’t been a day without us hearing the most sensational news about Artificial Intelligence. It might be powerful enough to overtake humanity, it’s utterly bad at writing poems, and it’s powerful enough to give some predictions about crypto-currencies.
There are two schools of thought, however. Some people have asked Chat GPT about BTC, and the AI said that BTC might go up to 100 000 $ before the end of 2023. This number is quite far-fetched and could only be attained if Bitcoin sees massive yearly adoption. As crypto investors, we bear in mind that many (human) minds have predicted such a value for 2021 or 2022. Spoiler alert, it didn’t happen.
For other users of Chat GPT, the future looks gloomy, as the auto-generative chatbot predicts that there is a 15 % chance that Bitcoin will lose its value around 2035, the same for ether. According to AI chatbots, coins like dogecoin have a 40 % chance to be a thing of the past in the next ten years.
Using Chat GPT and the like as a predictive system has its flaws. These systems are only designed to scour the internet to give some kind of answer to a precise question, and they certainly cannot be trusted as such. However, it is interesting to note that the system views a dramatic change in blockchain technology in the new ten years. It is not unrealistic to think about the future this way.
How Will AI Have an Impact on Trading Cryptos
Since we are more or less under the impression that Artificial intelligence is capable of doing anything, why not use that tool to perform better in the trading market? For sure, somebody allegedly won the lottery asking an AI for numbers, right?
All jokes aside, AI generative tools have been used to power trading software for a while. With the combination of deep learning and machine learning, trading software specialized in crypto is gaining momentum to help small and bigger traders perform on the market.
Among trading software powered by AI, we can name Sigmoidal, Trade Ideas or even Signal Stack. These tools have the power to analyze the market at lightning speed, and they can place an order on your trading account if they see an opportunity.
However, these tools aren’t failsafe, and they need to be backed up by competent human teams that can handle the best of both worlds: the complexity of the crypto market and the emerging AI tools. Once again, it is up to the user to understand if he is dealing with a proper tool or just a gadget that might not help.
Artificial intelligence has the power to automate and process thousands of tasks in a second. It is up to us to see what the future of trading will look like with this technology. AI should also have a significant impact on blockchain technology because it has the potential to make faster and more secure transactions.
Exciting New Project Around Chat GPT
Here at Blockchain Reporter, we list the newest crypto projects, and we are not surprised to see that OpenAI, the company behind Chat GPT, is creating a GPT Coin and selling it as a new innovative way to make payments. According to their whitepapers, this GPT Coin will use the BSC blockchain to function, although the team will create its own blockchain in the future.
OpenAI emphasises that this new coin will have the potency to analyse future market trends and work to make the blockchain safer and more efficient. As with any other Token, GPT Coin investors will have the opportunity to stake the token and earn rewards. You can already buy some GPT Coin tokens using the Telegram channel, with prices starting at 200 $.
The project is already backed by companies such as Coca-Cola, Snapchat and DuckDuckGo, which makes it an exciting token to buy because OpenAI is set to become one of the most powerful companies in the world in the next ten years.
