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Is ChatGPT a reliable tool for crypto price predictions?


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ChatGPT has become one of the most viable tools for predicting the state of the market and future events. Don’t forget that this tool was launched in late 2022 by OpenAI, one of the most prominent AI and research firms in the world. ChatGPT is best described as a natural language processing tool, powered by AI. It can be harnessed for human-like and chatbot conversations. With this tech, you can get answers to questions or get assistance with simple tasks.

ChatGPT thrives on the foundation of GPT-3.5, and thus leverages deep learning techniques, particularly transformer neural networks to process texts or prompts. It also features a neural language model that combines recognition patter, statistical analysis, and many more to create human-like feedback. Hence, there’s no doubt that the emergence of the innovation has enhanced human interactions with machines.

Characteristics of ChatGPT

There are numerous characteristics of ChatGPT. First is its ability to understand and generate languages. It uses a natural language processing mechanism to process and decode the language of users. In fact, the chatbot understands language nuances like irony and puns and does not limit itself to specific prompts. It possesses the capacity to process many languages, particularly Spanish, English, German, and many more.

ChatGPT’s greatest strength lies in its accessibility. You can begin to harness all the prospects associated with it anytime and anywhere. It has a mobile app that’s available for both iPhone and Android users. Nevertheless, it is imperative that you download the right one that is created by OpenAI as there are several fake ChatGPT apps on App Store and Play Store.

Outside its mobile version, ChatGPT is also accessible on web. Both versions deliver fast, instant, and reliable user experience. All you need to do is put a query for the chatbot to answer accordingly.

Meanwhile, ChatGPT can be used freely but you will be required to pay a subscription to harness all its full offerings. To subscribe, users must pay $20 monthly. This paid subscription model guarantees faster response times, and access to the internet through plugins.

Can ChatGPT Predict the Price of Crypto Assets?

Indeed without a doubt, ChatGPT has the capacity to predict the price of crypto assets. The artificial intelligence chatbot has the capability to analyze various and enormous data including those relating to cryptocurrency. Likewise, as a result of its efficiency, traders now use ChatGPT as a tool for predicting crypto prices. While the artificial intelligence chatbot has proven to have the capacity to predict the price of cryptocurrencies, its predictions are not entirely accurate. 

On various occasions, price predictions by ChatGPT often fall short of their projection. However, the reason behind this shortcoming isn’t far-reaching. Crypto assets are volatile, and the irregular changes in the price of cryptocurrency made it difficult to correctly predict the price movements. Nonetheless, it can offer a clue to price fluctuations, contributing to the decision-making process of an investor. 

However, the availability of good data can contribute to the correctness of ChatGPT crypto price prediction. In recent times, numerous studies have attempted to examine the authenticity of ChatGPT cryptocurrency prediction. The researchers considered various factors that could contribute to the accuracy of ChatGPT crypto price prediction. More so, they identified the availability of quality data as a foremost factor that can improve the accuracy of the artificial intelligence chatbot. 

Furthermore, findings highlighted that factual and extensive data can help ChatGPT to give a correct crypto price prediction. The findings only pointed out that it can only improve its accuracy and not entirely make it correct. Therefore, investors will only be doing themselves more harm than good by relying on ChatGPT for accurate crypto price prediction.

Rather, they can use the artificial intelligence chatbot as a guide while using other tools to build their trading strategy. To an extent, ChatGPT has proven effective in offering investors useful details and helping them make investment decisions. 


Investors must be careful to avoid falling for the general misconception that ChatGPT provides accurate price predictions of cryptocurrency. Amending their portfolio to suit the recommendations can inflict untold damages on investors. Above all, crypto traders and investors must endeavor to investigate and analyze market trends before making any move. 

Olaleye Komolafe
Olaleye Komolafe
Olaleye is a professional reporter with vast experience in web3, cryptocurrencies, and NFT journalism. He enjoys writing about the evolving metaverse sphere and the prevalence in the crypto sphere. Notably, some of his contents have been published in numerous international publications. Away from the crypto world, Olaleye is a political scientist and a lover of football

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