I asked ChatGPT Ethereum price prediction after Shanghai and his answer was…

Sometimes, I am a fan of the popular saying- Neither by power, nor by force. Other times, I am not. Now, I’m not trying to discount your religious beliefs or personal opinions. However, the incredible ChatGPT innovation can make you want to question that line. Take it or leave it.

Amid the confusion and growing skepticism, I decided to see why this AI application has become a toast among the many threads stitched together on Twitter. Heck, even the mainstream media can’t keep calm!

On the journey to feedback and past events

So, for the purpose of this article, I decided to test the intelligence of the AI ​​regarding one of the major updates to the crypto space this year: of ethereal [ETH] Shanghai update. Proposed in 2022, the upgrade is the most significant development of the second largest blockchain after the Bind.

For a while, the assets had been allocated to the Ethereum Beacon Chain. The Beacon Chain acts as the consensus mechanism for 2022 Proof of Stake (PoS) transition. This ensures that newly created blocks and validators are properly rewarded.

But, in this case, each validator needs 32 ETH deposited on the Ethereum Mainnet to qualify. The idea for the Shanghai update was scheduled for March 2023, but it has already been pushed up to April 12. This, to allow these validators to start withdrawing their rewards.

ChatGPT, on the other hand, has been around for a few years now. However, their recent push for OpenAI has shown that its capability is one that no other AI product can match.

Here it is where it gets interesting. I openly admit that ChatGPT could be one of the best innovations of this decade. However, my views on this incredible development will not allow me to keep my hands to myself. So, I decided to test your knowledge about the Shanghai update. Trust me, you will be surprised by his answer.

Looking at your answer above, it’s apparent that you started by correcting me. Some would say that she has a point too. However, a later evaluation showed that she acted as if she was not in 2023 yet. In particular, he made some mistakes with the definition.

ChatGPT: Using apologies to free yourself?

One notable observation is his mention of the PoS switch, popularly called Merge. This is an event that took place in September 2022. Even so, it still responded as if it were a future event. But no, I don’t blame its ability, since it is a learning tool. So to further test his knowledge I educated him or should I say “jailbreak-ed” by having a heart-to-heart conversation.

Something I find interesting about ChatGPT is not only its intelligence, but also its human feel. As shown above, I tried to educate him on what the update was. And to be honest, I never expected an apology from a bot. But yes, I have.

ChatGPT response after explaining the Ethereum Shanghai upgrade

However, he was again unable to give the correct answer to my query. Although I must applaud you for giving bits of related information.

While it did not reach the Testnet stages that the blockchain had reached and surpassed, it is worth noting that the Sepolia and Goerlii The testnets have forked. However, Ethereum developer Tim Beiko said on March 14 that several validators were not updated on the Beacon Chain.

And this has caused some issues with the nodes on Georli, and Beiko noted that the development team is working on it so that it doesn’t affect the Mainnet update.

Now, back to ChatGPT. As you probably know, developments in the crypto ecosystem sometime lead to an increase in project-related tokens. Unfortunately, that was not the case for ETH during the Merger. In fact, the altcoin price was crushed after many expected a rally.

The sentiment, as the next update approaches, is similar among some investors. In light of this, I decided to ask ChatGPT’s opinion on the matter. He gave me the following response:

This is what you think of the ETH price

Remember how I said that he was apologizing and giving me a feeling of being human? This time, it was different and his response was something any honest person in space would give.

As the popular saying goes: not financial advice, ChatGPT advises caution and provides cases where price action depends on various underlying factors. This is a part that, to me, the AI ​​seems to have perfected.

ChatGPT response to Ethereum price prediction

Meanwhile, ETH price at press time it was $1,660: up 8% from its value seven days ago. But going forward, will cryptocurrency favor the greens or fall to the demands of the bears?

At the time of writing this article, the relative strength index (RSI) had a reading of 56.44. Indications from the daily chart showed that ETH only broke out of the oversold region a few days ago. Therefore, its prevailing value means that it is in a relatively good buying stage.

However, in terms of volatility, the Bollinger Bands showed that ETH has been expanding. An interesting scrutiny of the situation revealed that the ETH price left the lower band to reach the upper band. A situation like this implies that ETH was overbought. However, the indicator alone might not be enough to trigger a price pullback, except that other signals like the RSI also reached an overbought point of 70.

As for its direction, the Directional Movement Index (DMI) favored buyers (green) over sellers (red). Even so, it still lacked the support of the Average Directional Index (ADX) which could have cleared all doubts if it were 25 or higher. However, the ADX (yellow) still held at 18.22.

Ethereal [ETH] price action

Source: TradingView

Finally! showed me the code

So, I gave ChatGPT one last chance to redeem itself. Again, this question was simple and I was hoping for a precise answer. I went above and beyond to explain things to him carefully. But this is what I got when I asked him to show me the ETH price code on a price tracking platform like CoinGecko or CoinMarketCap.

If you had thought that I would disappoint you again, I am sorry to burst your bubble. ChatGPT gave me the ETH price code. Another thing that impressed me was the disclaimer about not using the information for investment purposes.

Ethereum Price ChatGPT Code

All in all, I must admit that ChatGPT is here to stay. Although he lags behind in some areas, I noticed that if you teach him, he learns very quickly. However, I can’t say for sure that it will give you any information about Ethereum or the Shanghai update quickly.

Thoughtful responses and the mastermind of GPT-4?

Since I had limited knowledge about AI, I decided to talk to an expert. I was lucky enough to catch the eye of Ilman Shazhaev, CEO and founder of Farcana. He is a Dubai-based tech entrepreneur with extensive experience launching IT and DeepTech projects. He has a strong background in IT management, data science, and artificial intelligence.

Q- ChatGPT seems to be giving some wrong or retroactive answers. What do you think could be responsible for this?

Despite its label as a know-it-all AI tool, ChatGPT is still a human invention and therefore prone to errors. The chatbot is still in its early stages of adoption, so wrong answers are imminent and will surely serve as the foundation for future developments. With the recently released GPT-4 showing more advanced responses, we can be sure that improvements are being made and that this tool will be more consistent in the future.

Q- Do you think that AI is capable of predicting the price of a cryptocurrency, especially if a development is coming? Let’s say the Ethereum Shanghai upgrade

Artificial intelligence can do anything, including predicting the price of a cryptocurrency. The tool can do this by taking advantage of the tons of data available, which you can efficiently use as the basis for your predictions.

Still, while predicting the price of cryptocurrencies is one thing, the accuracy of the prediction is another. Considering the fact that AI can only use data, there are fundamental factors and analytics that it may not be able to take into account, hurting its accuracy by a significant factor.

Q- If it is difficult for you to give correct answers to the updated developments. How long do you think it would take to learn about this?

AI development and what ChatGPT embodies is a dynamic innovation that is bound to get better over time. With the current progress in OpenAI and the level of funding available, we can expect the evolution of the technology to produce real-time results in the next 3-5 years.

Q- Do you think that AI can somehow influence the Ethereum blockchain or the ETH price in the future?

There are many aspects through which AI and a blockchain protocol can co-exist, and innovators, including our team at Farcana, are exploring what new use cases we can build in this regard. While AI and blockchain are independently innovative, their combination can do a lot, including influencing the price of ETH.

In the meantime, OpenAI may be working on improvements to the challenges experienced by ChatGPT. On March 14, the company revealed an enhanced version of the product in GPT-4. With amazing abilities and talk about passing tough exams, who knows? Maybe I could fill all the gaps opened by ChatGPT.

So now that there is a new version, I wanted to see if there are any differences or improvements. My next course of action was to ask GPT-4 the first question I asked ChatGPT.

And to my surprise, he gave me a straight answer.

GPT-4 Response to Ethereum Shanghai Update

Following my experience with the upgraded version, I have to admit that GPT-4 seems to be smarter than ChatGPT. While the answers were not entirely correct, he did not give an “unfamiliar” with the term excuse.

In conclusion, these AI products developed by the OpenAI team have the ability to improve various sectors, including the cryptoecosystem. However, one thing to keep in mind is that it is not quite up to date. However, if you teach it, it can learn and provide you with the information you need.

Leave a Comment