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The Artificial Intelligence (AI) run has propelled competition among developers and businesses in 2023. OpenAI’s flagship product, ChatGPT, and Google’s (NASDAQ: GOOGL) Bard are competing examples.
Within AI’s popularity rise through this ending year, Finbold has been testing these tools’ capacities to make accurate crypto predictions. In this context, we published multiple stories with price insights and forecasts about some of the leading cryptocurrencies in the market.
Notably, ChatGPT has generally provided more loose predictions, while Google Bard favored tightening its ranges. In particular, when asked about a cryptocurrency price for the start of 2024, the AIs have diverged from their predictions.
It is important to understand that each crypto price prediction story was written by different authors using different prompt strategies. This inevitably leads to divergent results, even for the same cryptocurrency and AI.
ChatGPT’s and Google Bard’s price predictions for the start of 2024
Interestingly, here is what we found by analyzing these past stories published by Finbold and comparing the predictions with these cryptocurrencies’ prices on December 26.
The predictions reveal a divergence of opinion between AI platforms ChatGPT and Google Bard. Litecoin (LTC), currently priced at $73.47, has a bullish forecast from ChatGPT estimating a value between $150 to $200, while Google Bard’s outlook is more modest, projecting $52.63 to $87.71.
Polygon (MATIC) stands at $0.88, with ChatGPT alone providing a prediction of a slight increase from $0.95 to $1.10. Polkadot (DOT) sees its price at $9.13 without any prediction from ChatGPT, but Google Bard suggests a possible decrease to $5.28 and $7.92. Terra Classic (LUNC) is currently valued at $0.00015630, and ChatGPT predicts a slight downtick to $0.0001180.
XRP (XRP), with a current price of $0.62, is expected by ChatGPT to rise modestly to $0.65 and $0.85. Shiba Inu (SHIB) is currently at $0.0000107400, and ChatGPT forecasts a narrow increase to $0.0000148885, with Google Bard’s prediction ranging from a decrease to $0.000007 to $0.000015, overlapping with ChatGPT’s estimate.
Ethereum (ETH) sees a more substantial projected increase from ChatGPT, suggesting a jump to $3,000 to $10,000 from its current $2,241.03, whereas Google Bard predicts a narrower band of $2,500 to $4,500. Solana’s (SOL) actual price of $114.77 is expected to fluctuate broadly between $50 and $150, according to ChatGPT, with Google Bard anticipating $50.31 to $79.75.
Cardano (ADA) sits at $0.61, with ChatGPT’s prediction ranging widely from $0.15 to $1 and Google Bard’s forecast aligning closer to the current price at $0.42 to $0.90. Dogecoin (DOGE) finds Google Bard in the predictive space, forecasting an increase from its current price of $0.092 to $0.09 to $0.15, with no prediction from ChatGPT.
Avalanche (AVAX), priced at $46.60, has not received a prediction from ChatGPT, but Google Bard suggests a potential increase to $55.51 to $63.38. Lastly, Bitcoin (BTC), the market’s benchmark, is currently at $42,680, with Google Bard alone indicating a bullish forecast of $40,000 to $60,000.
Conclusion
In general, it appears that Google Bard generally offered price ranges closer to the actual market values on December 26, with its narrower prediction bands often encompassing or closely aligning with the existing prices for currencies like Litecoin, Ethereum, and Cardano.
However, without historical outcome data for the predicted ranges and actual market performance post-December 26, determining the most accurate AI for predicting future prices remains speculative.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.