ChatGPT predicts Bitcoin could rise to $80K-$100K by the end of 2024. Its on-chain metrics are, however, rather modest.
ChatGPT predicts Bitcoin could rise to $80K-$100K by the end of 2024. Its on-chain metrics are, however, not so positive in the short term.Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.price briefly reclaimed the $28K-price mark during the intraday trading session on 5 October, but it couldn’t rally past this resistance level. At press time, the king coin was exchanging hands at $27,414.
One way to utilize the AI tool to make better trading strategies is by deploying it toward fundamental analysis. ChatGPT is capable of extracting insights from financial news articles, social media posts, and other unstructured data sources.Another way to use ChatGPT as a Bitcoin trader is to use it for sentiment analysis. ChatGPT can be fine-tuned to perform sentiment analysis on information from news articles, on-chain data providers, social media discussions, and other sources.
For instance, I asked ChatGPT to give me an example of a trading bot that I can use to track BTC’s price volatility in pine script–TradingView’s programming language is useful for back testing trading strategies. The AI responded,To use ChatGPT for technical analysis, traders need to be familiar with the language to know when to make the necessary modifications for the code to work properly. The prompt text is crucial in how ChatGPT understands the problem and provides the anticipated solution.
Individuals can easily manipulate ChatGPT to inform the audience. We are already seeing slight effects of it.
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