In 2023, the AI sector witnessed a surge in competition among developers and businesses, driven by leading products like OpenAI’s ChatGPT and Google’s Bard. As AI’s popularity soared towards the end of the year, Finbold actively engaged in evaluating these tools for their ability to forecast cryptocurrency prices accurately. We’ve published a series of articles offering insights and projections for major cryptocurrencies in the market.
Our observations revealed that ChatGPT often provided broader, more generalized predictions, whereas Google Bard tended to offer more specific, narrowed down ranges. This difference was particularly noticeable in predictions for cryptocurrency prices at the beginning of 2024, where the AI tools showed distinct approaches.
It’s crucial to note that these crypto price prediction articles were penned by various authors, each employing unique prompt techniques. This variety in approach naturally resulted in varying outcomes, even when the same cryptocurrency and AI tool were involved in the predictions.
ChatGPT’s and Google Bard’s price predictions for the start of 2024
Fascinatingly, through an analysis of previous articles published by Finbold, and by comparing their predictions with the actual prices of these cryptocurrencies on December 26, we have uncovered some intriguing insights.
The analysis of AI platform predictions from ChatGPT and Google Bard reveals varied opinions. Litecoin (LTC), presently valued at $73.47, received a bullish prediction from ChatGPT, estimating its value to rise between $150 and $200, while Google Bard anticipates a more conservative increase, projecting its price to be between $52.63 and $87.71.
For Polygon (MATIC), currently at $0.88, ChatGPT forecasts a modest rise to between $0.95 and $1.10. Polkadot (DOT) is at $9.13 and, while ChatGPT hasn’t offered a prediction, Google Bard suggests a potential drop to between $5.28 and $7.92. Terra Classic (LUNC), with a value of $0.00015630, is predicted by ChatGPT to experience a slight decrease to $0.0001180.
XRP’s present price is $0.62, and ChatGPT expects a small climb to between $0.65 and $0.85. Shiba Inu (SHIB) stands at $0.0000107400, with ChatGPT predicting a minor increase to $0.0000148885 and Google Bard foreseeing a range from a decrease to $0.000007 to an increase to $0.000015, partially aligning with ChatGPT’s projection.
Ethereum (ETH), currently at $2,241.03, has a more significant increase projected by ChatGPT, suggesting it might reach between $3,000 and $10,000, whereas Google Bard foresees a range of $2,500 to $4,500. Solana (SOL) is at $114.77, with ChatGPT predicting a wide fluctuation between $50 and $150 and Google Bard expecting it to vary between $50.31 and $79.75.
Cardano (ADA) is priced at $0.61, with ChatGPT’s prediction ranging from $0.15 to $1 and Google Bard’s estimate closer to the current value, between $0.42 and $0.90. Dogecoin (DOGE) is at $0.092, and Google Bard anticipates an increase to between $0.09 and $0.15, with no prediction from ChatGPT.
Avalanche (AVAX), which is currently priced at $46.60, hasn’t been given a prediction by ChatGPT. However, Google Bard predicts a potential increase in its value, estimating it to range from $55.51 to $63.38. Meanwhile, Bitcoin (BTC), a key player in the market, is currently valued at $42,680. In this case, only Google Bard has provided a forecast, suggesting a bullish trend with its price possibly ranging between $40,000 and $60,000.
Conclusion
Google Bard tended to provide forecasts that were more aligned with the actual market values as of December 26, particularly for cryptocurrencies like Litecoin, Ethereum, and Cardano, due to its narrower prediction ranges that often matched or were close to the existing prices.
Nonetheless, without access to data on the historical accuracy of these predicted ranges and the market’s performance after December 26, it’s challenging to definitively conclude which AI platform is more precise in predicting future cryptocurrency prices.
Disclaimer: This information should not be viewed as investment advice. Investment activities are speculative and carry inherent risks, including the potential loss of capital.
Source: finbold.com