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

Sometimes I am a fan of the popular saying – Not by force, not by force. Other times, I’m not. Now, I’m not trying to dismiss your religious beliefs or personal opinions. However, the incredible ChatGPT innovation might make you want to question that line. It’s take it or leave it.

Amidst the confusion and growing skepticism, I decided to see why this AI app has become a freebie among the myriad threads stitched together on Twitter. Heck, even the mainstream media can’t keep their cool!

On the journey to feedback and past events

So, for the purpose of this article, I decided to test AI intelligence against one of the major updates in the crypto space this year – of Ethereum [ETH] Shanghai Update. Proposed in 2022, the upgrade is the second-largest blockchain’s most significant development after the merge.

For a while, assets were allocated to the Ethereum Beacon Chain. The Beacon Chain acts as the consensus mechanism for 2022 Proof of Stake (PoS) transition. Thus making sure 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 of ​​the Shanghai update was scheduled for March 2023, but has already been postponed to April 12. This is to allow these validators to start withdrawing their rewards.

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

Here’s where it gets interesting. I openly admit that ChatGPT may be one of the best innovations of this decade. However, my opinions on this incredible development do not allow me to keep my hands to myself. So, I decided to test your knowledge of the Shanghai update. Trust me, you will be amazed by your answer.

Looking at the answer above, it’s evident that it started by correcting me. Some would say you’re right too. However, further evaluation showed that it acted as if it weren’t 2023 yet. Notably, it made some mistakes with the definition.

ChatGPT: Using excuses to break free?

A notable observation is the mention of the PoS switch, popularly called Merge. This is an event that occurred in September 2022. Even so, it still responded as if it were a future event. But no, I am not blaming its ability as it is a learning tool. So, to better assess his knowledge, I educated him or should I say “jailbreakhim having a heart-to-heart conversation.

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

ChatGPT response after explaining the Ethereum Shanghai upgrade

However, it again failed to give the correct answer to my question. Though I must applaud you for providing related bits of information.

While it has not reached the Testnet stages that blockchain has reached and gone through, it is worth noting that the Sepolia It is goerlii The test networks were forked. However, Ethereum developer Tim Beiko said on March 14 that several validators failed to update on Beacon Chain.

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

Now, let’s go back to ChatGPT. As you probably know, developments in the crypto ecosystem sometimes 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 destroyed after many expected a rise.

Sentiment as the next update approaches is similar among some investors. Therefore, I decided to ask ChatGPT’s opinion on the matter. Gave me the following answer –

Here’s what he thinks about the ETH price

Remember how I said you apologized and gave me a human feel? This time it was different and his response was something any honest person in the space would give.

As the popular saying goes – Not financial advice, ChatGPT advised caution and gave cases where price action depends on multiple underlying factors. This is a part that, to me, AI seems to have perfected.

ChatGPT Response to Ethereum Price Prediction

About that, ETH price at press time it was $1,660 – 8% above its value seven days ago. But moving forward, will the cryptocurrency favor the greens or fall to the demands of the bears?

At the time of this writing, the Relative Strength Index (RSI) has a reading of 56.44. The daily chart indications showed that ETH left the oversold region just a few days ago. Therefore, its predominant 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 examination of the situation revealed that the price of ETH broke out of the lower band to reach the upper band. A situation like this implies that ETH has been overbought. However, the indicator alone might not be enough to trigger a price pullback, except that other signals like the RSI have 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 support from the Average Directional Index (ADX) that could clear all doubts if it were 25 or higher. However, the ADX (yellow) still remained at 18.22.

Ethereum [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 expected a precise answer. I went further to explain things to him carefully. But here is what I got when I asked to show me the ETH price code on a price tracking platform like CoinGecko or CoinMarketCap.

If you thought I was going to disappoint again, sorry to burst your bubble. ChatGPT gave me the ETH price code. Another thing that struck 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. Despite lagging behind in some areas, I noticed that if you teach him, he learns very quickly. However, I cannot say for sure whether you would get information about Ethereum or the Shanghai update quickly.

Thoughtful Answers and the GPT-4 Mentor?

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

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

Despite being a well-known Artificial Intelligence tool, ChatGPT is still a human invention and therefore prone to errors. The chatbot is still in its early stages of adoption, so incorrect answers are imminent and should form the basis for future developments. With the newly released GPT-4 showing more advanced responses, we can be sure that improvements are being made and that this tool will be more consistent going forward.

Q- Do you think AI is able to predict the price of a cryptocurrency, especially if a development is approaching? 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 tons of data available, which it can efficiently use as a basis for its predictions.

Still, predicting the cryptocurrency price is one thing, but forecasting accuracy is another. Considering the fact that the AI ​​can only use data, there are fundamental factors and analysis that it might not be able to take into account, thus hurting its accuracy by a significant factor.

Q- If you have difficulty giving correct answers to current developments. How long do you think it would take to learn about it?

AI development and what ChatGPT incorporates is a dynamic innovation that tends to improve over time. With the current advancement of OpenAI and the level of funding available, we can expect the evolution of the technology to deliver real-time results over the next 3-5 years.

Q- Do you think AI can somehow influence the Ethereum blockchain or the ETH price going forward?

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

In the meantime, OpenAI may be working on improvements for the challenges facing ChatGPT. On March 14, the company revealed an updated version of the product in GPT-4. With incredible capabilities and talk of passing tough exams, who knows? Perhaps it can fill in 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 Answer for Ethereum Shanghai Upgrade

Following my experience with the updated version, I must admit that GPT-4 seems to be smarter than ChatGPT. While the answers weren’t entirely correct, it didn’t sound like “not being familiar” with the term sorry.

In conclusion, these AI products developed by the OpenAI team have the ability to improve various industries including the crypto ecosystem. However, one thing you should keep in mind is that it is not fully up to date. However, if you teach it, it can learn and give you the information you need.

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