ChatGPT explains how AI can help AI reach $100K by 2024.
Artificial intelligence (AI) can play a role in the situation where the price of Bitcoin (BTC) reaches 100,000 dollars in 2024, GPT-4, the latest version of the AI chatbot ChatGPT.
On January 1st, Cointelegraph asked an AI chatbot whether the price of Bitcoin could hit $100,000 this year and how AI could play a role in achieving this result. According to the AI chatbot, a series of favorable conditions for Bitcoin to reach $100,000 by 2024 is “theoretically possible.” However, ChatGPT said this “remains highly speculative”.
Following this, the AI chatbot presented some general conditions that could contribute to such a situation. This includes positive regulatory developments, retail and institutional adoption, and currency depreciation or inflation.
ChatGPT said the approval of the spot Bitcoin Exchange Traded Fund (ETF) will have a positive impact on the price. AI notes that the approval of the Spot BTC ETF will provide greater access and liquidity to the asset. The approval could be seen as a sign of regulatory approval, encouraging institutional investors to enter the market.
Related: Here's how ChatGPT-4 makes $100 on crypto trading
Cointelegraph then asked ChatGPT how AI could contribute to Bitcoin reaching $100,000 by 2024. Chatbot explains that AI can play a role in this case. This is due to the impact of AI on market analysis, marketing strategies and blockchain's broader technological advancements.
ChatGPT explained that AI algorithms process large amounts of market data and identify trends and patterns that human analysts might miss. AI Chatbot said that AI-driven trading bots can also execute trades at optimal times based on market conditions. ChatGPT points out that bots can react faster than humans in fast-paced market conditions.
While there are benefits to using AI in business, it also comes with significant risks, says ChatGPT. These risks include hacking and cyber attacks. In the year By 2022, a trading bot will earn $1 million in arbitrage trading opportunities. However, a hacker tricked the bot into allowing it to make malicious transactions, draining it of all funds.
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