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The material is not an investment recommendation and is published for informational purposes only.
What happened? On March 17, Cointelegraph journalists began an experiment on trading cryptocurrencies using a new version of the chatbot with artificial intelligence ChatGPT. The AI was asked to invest $100 in order to earn as much money as possible in the shortest time. Since GPT-4 only uses data accumulated up to September 2021, the journalists provided the chatbot with summaries for 2021 and 2022, as well as market news and most read articles from the last seven days, including information about the bankruptcy of Silvergate, Silicon Valley Bank (SVB ) and Signature. The bot’s recommendations are published on the publication’s website.
News on the Cointelegraph website
What assets did the AI invest in? GPT-4 advised to allocate $100 as follows:
- $50 to bitcoin
- $25 in Ethereum
- $15 in ATOM, the native token of the Cosmos blockchain
- $10 for non-fungible token (NFT) and Web 3.0 projects
Regarding bitcoin, GPT-4 believes that despite the short-term volatility and recent price drop, the asset has great potential in the long term. Bitcoin acts as a safe haven in times of financial instability, its dominance is approaching 50%, with some analysts predicting a rise to $100,000.
According to ChatGPT, the upcoming Shanghai upgrade on the Ethereum network could solidify ETH’s dominance and benefit liquid staking providers. In addition, the price of ETH is showing signs of recovery.
The chatbot called Cosmos a promising project, predicting the attraction of a large number of investors in connection with the launch of the Interchain Security initiative.
AI offered to invest $6 and $4 respectively in the native tokens of the Decentraland metaverse (MANA) and the Chainlink decentralized network of oracles (LINK). He motivated the decision by the growing interest in virtual worlds and NFTs, as well as the growing demand for reliable off-chain data provided by Chainlink.
Cointelegraph took advantage of the recommendations of ChatGPT and bought the above assets. The authors will continue the experiment and share the results. At the end of the experiment, all proceeds will be donated to a charity chosen by the community.
What is ChatGPT? The chatbot has become famous for its ability to solve a wide range of tasks with high accuracy, generating text content in response to user requests. In particular, the tool can be used in trading, suggesting possible asset price movements. The platform is developed by the Microsoft-backed OpenAI Research Lab founded by Elon Musk, Sam Altman, and other entrepreneurs.
The first public prototype of the platform was presented on November 30, 2022. In January 2023, the number of active users passed the 100 million mark in just two months, making the service the fastest growing in history in this indicator.
Crypto exchange Binance believes that ChatGPT is useful for the adoption of cryptocurrencies, as it is able to explain the complex concepts of the industry in an accessible language.
Earlier, Finbold journalists turned to ChatGPT to forecast the possible price of bitcoin in 2030, taking into account technical analysis, traditional price movements and other indicators. In response, AI admitted the possibility of an increase in the asset’s price, and also cited a number of factors that could lead to its increase.
In January, during a “talk” with ChatGPT, a bitcoin proponent under the pseudonym Parman was able to convince AI that BTC would put an end to central banks and fiat.
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