ChatGPT thinks Bitcoin would reach the $80K-price mark soon enough but its on-chain metrics suggest a bearish trend.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.ETF analyst James Seyffart confirmed that discussions between Grayscale and the SEC will commence next week, with a new response anticipated by the regulator within the next two weeks.. However, the immediate market response to the news was relatively muted.
One way to utilize the AI tool to make better trading strategies is by deploying it toward fundamental analysis. ChatGPT is capable of extracting insights from financial news articles, social media posts, and other unstructured data sources.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.
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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