Ethereum
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Artificial intelligence tool ChatGPT was asked to share a forecast regarding Ethereum’s potential trading range by the end of 2023. The response stated that he could not predict future prices, but listed several factors that could affect the price of ETH.
Among them is the general mood of investors and the perception of Ethereum in the crypto community and in the market as a whole, as “positive sentiment, widespread adoption and growing interest from investors can lead to a price increase.”
In addition, the AI chatbot explained that “the development and implementation of new features, updates and improvements on the Ethereum network can also affect the price”, such as the Ethereum 2.0 update, as well as the success of the main cryptocurrency Bitcoin (BTC).
What is the impact of ethereum: historically, the altcoin has shown a strong correlation with the price movements of bitcoin.
ChatGPT added that Ethereum has a “large and active community of developers, users, and supporters,” whose growth along with the continued development of decentralized applications (dApps) on the platform could also positively influence the price.
According to the AI language model, when assessing the future price, one should take into account regulatory changes and government policy towards cryptocurrencies, economic conditions and geopolitical events.
Meanwhile, cryptocurrency price prediction platform CoinPriceForecast has provided more specific data on Ethereum’s possible price for the coming years, predicting it will reach $2,142 by the end of the year.
Ethereum price prediction for 2023. Source: CoinPriceForecast
Ethereum is currently trading hand-to-hand at $1,856, recording a 2.18% gain over the past 24 hours and a 2.3% gain over the previous seven days. Since the beginning of the year, ETH has grown by 54.56%.
Ethereum price chart since the beginning of the year (YTD). Source: CoinGecko
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