While ChatGPT predicts Bitcoin's price to reach $80K-$120K during the next two years, it's not sure when it will again hit $30K.
While the crypto market may be unpredictable and volatile, traders and investors can still make informed decisions by staying up-to-date on market news, following expert analysis, and using intelligent trading strategies, such as those offered by ChatGPT.In November 2022, the AI model ChatGPT was launched to the public. In fact, it quickly gained significant attention, too.
Another way to use ChatGPT as a Bitcoin trader is to use it for sentiment analysis. ChatGPT can be fine-tuned to perform sentiment analysis on information from news articles, on-chain data providers, social media discussions, and other sources. This can be used to identify whether the BTC market lingers under positive sentiment or is plagued by negative sentiment.
For instance, I asked ChatGPT to give me an example of a trading bot that I can use to track BTC’s price volatility in pine script–TradingView’s programming language is useful for back testing trading strategies. The AI responded,To use ChatGPT for technical analysis, traders need to be familiar with the language to know when to make the necessary modifications for the code to work properly. The prompt text is crucial in how ChatGPT understands the problem and provides the anticipated solution.
Individuals can easily manipulate ChatGPT to inform the audience. We are already seeing slight effects of it.
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