Bitcoin price $45k by ending of 2023: AI prediction - page 10.

BitcoinsGreat

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Quote from: Richbased on November 06, 2023, 03:21:12 AM

Quote from: letteredhub on November 05, 2023, 07:10:47 PM

So I decided to bring it to the forum to know about what other forum members think about this AI prediction. Is it a prediction you can rely on or it's just one of those common bitcoin price predictions of the decade we are used to from different angles, is there anything special about this one .

Inasmuch as I know AI is just speculating the price of bitcoin in consideration with the current price now, just like every other human is doing their own speculation. Bitcoin is a volatile asset and has the tendency of fluctuating in it's price in the market so projecting the price to be around $45,000 towards the end of the year may not be as accurate as the AI predicted but however the best option now is still to buy and HODL

We all know that it is best to buy and hold for long term but here is the question is how authentic is this prediction by the AI.

Well, we can only tell if this prediction was right or wrong on the 1st of Jan, 2024 as by then we already will have this data. However, i think that if the ETF is approved by that time, only then we can move to such figures else we may see price consolidating between 30-35K.

It is because of the ETF hype plus the bitcoin halving is nearby, we are not seeing any dump in the market and it is very much possible that we may reach near this $45K target. Yeah, after the halving the price can dump a bit but before that bitcoin is fundamentally very strong at his point of time.

el kaka22

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What would an AI know about bitcoin, it is really just filled with human data and nothing more, it is just data that was feed to it that says this and not some actually intelligent thing that does it. I believe that its not really all that complicated to do it, I can feed any AI software with 45k idea, and then whenever someone asks, it will say 45k. Not saying that's wrong, who knows maybe it could be true, but lets stop expecting AI to do our job for us, it is not going to work.

It's basically just like caring about what an influencer would say, it is not really important because influencer could be wrong, they are a human just like us. AI is basically similar, it may look like it is something special but the reality is that it is not and won't be that important. I believe that we are going to have something special that would be a little different on the long run at and can't be all that simple to handle when you think about how powerless AI could be without humans.

adaseb

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I think what we will see will be similar to 2015 and 2019, where we get an echo bubble pretty much. Basically a similar bubble but won’t reach ATH. We had this happened in 2019, where we spiked and then pretty much traded nowhere for months until it broke ATH after Covid made all the stock markets rally.

So I think it’s a good prediction. Nothing crazy like those saying it will reach $1M or something crazy like that.

savetheFORUM

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Quote from: letteredhub on November 05, 2023, 07:10:47 PM

Is it a prediction you can rely on or it's just one of those common bitcoin price predictions of the decade we are used to from different angles, is there anything special about this one .

Because AI models are trained using the data available on the internet, I wouldn't say there is anything special about those predictions since these AI models process data and come up with answers based on the queries asked. As far as I know, these language models don't do any analysis of their own or read charts or anything, but their forecasts are mainly based on what others have written on the matter on different websites and news outlets available on the internet.

So, essentially, no prediction is reliable since we all just make speculations based on the data available, but predictions made by AI models might be less accurate than human-made predictions since we will check all the aspects before we go ahead and make a prediction, they barely do that, IMO.

TimeTeller

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Quote from: nurilham on November 06, 2023, 04:25:30 PM

Quote from: Republikcoin.com on November 06, 2023, 07:10:55 AM

AI is not a machine that predicts the future and is also not an observing machine that happens by itself because this tool was also created by humans so its predictions for the price of Bitcoin are not much different from what many people are saying or predicting at the moment.

It is true that AI is a machine which has the ability to predict the future. If we put valid and trusted data, AI machine can predict in a proper way. Sure, its prediction isn't so different with human's prediction. The data put on AI machine is derived from human, right? Since it is a prediction, we shouldn't trust it 100%. AI machine or human only predicts the future, they can't determine the future. So, I think we mustn't be so confused about AI prediction.

Quote from: khiholangkang on November 06, 2023, 01:27:46 PM

But I hope that the results from AI will not be used as a basis for making investment decisions, because its accuracy is still highly doubtful -snip-

AI prediction isn't for the basis for investment choice/decision. If we want to decide anything in investment, it should be based on our own analysis. Sure, the accuracy isn't 100%, for me the accuracy of a prediction commonly is around 50-60% only.
CMIIW

The prediction of AI is quite positive, so the decision will be on your hands if you will indeed believe it or not.
The probability of happening may not be high, this is why it is called speculation or prediction.
But there's nothing wrong in using it as a guide on how you will invest on this market, just make sure that you have no one to blame if you follow such prediction.

nurilham

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Quote from: Republikcoin.com on November 06, 2023, 07:10:55 AM

AI is not a machine that predicts the future and is also not an observing machine that happens by itself because this tool was also created by humans so its predictions for the price of Bitcoin are not much different from what many people are saying or predicting at the moment.

It is true that AI is a machine which has the ability to predict the future. If we put valid and trusted data, AI machine can predict in a proper way. Sure, its prediction isn't so different with human's prediction. The data put on AI machine is derived from human, right? Since it is a prediction, we shouldn't trust it 100%. AI machine or human only predicts the future, they can't determine the future. So, I think we mustn't be so confused about AI prediction.

Quote from: khiholangkang on November 06, 2023, 01:27:46 PM

But I hope that the results from AI will not be used as a basis for making investment decisions, because its accuracy is still highly doubtful -snip-

AI prediction isn't for the basis for investment choice/decision. If we want to decide anything in investment, it should be based on our own analysis. Sure, the accuracy isn't 100%, for me the accuracy of a prediction commonly is around 50-60% only.

CMIIW

macson

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Quote from: letteredhub on November 05, 2023, 07:10:47 PM

Six AI chatbots forecast bitcoin to reach $45k by December 31 2023. From the article the test was first carried out June this year which it was predicted that the price will get to $45k by the end of the 2023 year, and on the 3rd of this month of November 2023 another query test was carried out using 6 different AI chatbots to inquire what the price of bitcoin could be by end of the year and they all gave predictions that points to $45k at most. And the most intriguing thing about this which caught my attention is that it was same price prediction range it gave sometime June this year when the first test was conducted.

Quote

Four months ago, Bitcoin.com News engaged with six generative AI chatbots, prompting them to forecast bitcoin’s value at the close of 2023. The collective consensus of these AI systems anticipated BTC to land between $40,000 and $50,000 by the conclusion of the year. With the year now winding down to its final two months, we repeated the experiment. The updated predictions from the AI chatbots have arrived slightly more conservative than the June estimates.

So I decided to bring it to the forum to know about what other forum members think about this AI prediction. Is it a prediction you can rely on or it's just one of those common bitcoin price predictions of the decade we are used to from different angles, is there anything special about this one .

Seeing the uncontrolled volatility of the Bitcoin price makes me not take it seriously every time a prediction about the price of Bitcoin appears, even when the prediction is issued by someone who is known to be an expert in the field of trading, earlier the price of Bitcoin reaches $35k, maybe tomorrow or 2 In the next day the price of Bitcoin will reach $40k or even $50k, but with more and more predictions appearing, market sentiment will improve and make the chance of Bitcoin touching $45k in the next few weeks no longer impossible ^{(predictions are the fuel for bitcoin price increases)}

salad daging

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It still makes sense with the AI prediction with a range of $45K, but this is AI there is no clear analysis or AI only relying on trends as many people say.

Maybe AI is able to detect what many people say about year-end bitcoin price predictions in the range of $40K to $50K then when someone asks the AI chatbox it will produce the same, but I don't fully believe in AI even though the prediction still makes sense.

Never rely on any speculation about Bitcoin and then ask AI, the results will not be so wild, it's just that this is lacking in my principles.

eightdots

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Quote from: letteredhub on November 05, 2023, 07:10:47 PM

So I decided to bring it to the forum to know about what other forum members think about this AI prediction. Is it a prediction you can rely on or it's just one of those common bitcoin price predictions of the decade we are used to from different angles, is there anything special about this one .

The most important things that make a forecast valuable are analysis and a lack of emotion. AI can do exactly what I said. That is why I am curious about the accuracy of these predictions.

Forecasts can't give us the truth because of the changing human condition, but they can give us a close approximation. AI's prediction of the price of Bitcoin may not be exactly right because the developments in the world have not happened yet. I liken it a bit to predicting a match, like team A should have won but team B won. In other words, this price could come true if everything happens as it should, but if it doesn't, the forecast is useless.

khiholangkang

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I think with the many types of AI that exist it depends on the AI we use to ask the question, and how often the developer updates the AI, what I doubt is how the AI works in analyzing the price so that it can conclude the price?, some chatbots that I have used before they say that "I can't predict the price", or am I using the wrong prompt?

But I hope that the results from AI will not be used as a basis for making investment decisions, because its accuracy is still highly doubtful in my opinion, but indeed, from the results provided by the AI that you use, it is quite logical that at the end of this year Bitcoin could reach a price of $45 k, and that's a reasonable figure for the end of the year.

taufik123

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Quote from: KingsDen on November 06, 2023, 06:28:46 AM

-snip-
Before the AI results, most of us including myself have predicted that the highest bitcoin can go this year is 45k. It is based on this popular prediction by most people that AI gave those speculative answers. So, the result is believable but the market may decide to surprise everyone.

AI answers based on past or past data, and the data of many people's predictions about the price of bitcoin that will reach $45k at the end of the year has been managed by AI and used as an answer.
As you said, it is based on popular predictions and the current state of the market.

But what if the trend changes, FUD starts to emerge and crypto fundamentals get out of control, then the predictions will change and AI will read different data again.
AI can't see the future and never will, they are just stuck with existing data.

There will be different answers to each AI used, but let's wait for Elon Msuk's Artificial AI named "Grok" or "xAI" which will be launched soon and can access everything on X (Twitter) and become an AI that is smart enough and can joke "said Elon Musk".

Wiwo

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The AI will only be near accurate if they have put into consideration also the possible multiple market unseen forces and incidents that may happen in the market that may affect the realization of such $45k Bitcoin price predictions because the AI will only be able to judge all the available elements that make up for the possible price up trends.

But if nothing of such happens along the way, then it becomes better to forecast easily and to make use of such AI predictions, but there is a higher chance of us achieving that price before December ends.

hugeblack

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I read the article and was expecting that there was a methodology or deep analysis of artificial intelligence data, but all I found was that they presented the text condemning everyone who Anthropic (Claude) Google Bard, Openai Chatgpt 3.5, and Chatgpt 4, and Microsoft's Bing Creative.
The text of the question was:

Quote

This experiment aims to determine the price of bitcoin by the end of 2023. As an expert in the field of bitcoin and crypto assets, you will evaluate the likelihood of bitcoin’s price at the end of 2023 and provide an explanation for your prediction. The global macroeconomic landscape remains uncertain. The current date is November 3, 2023, and bitcoin is currently trading at $34,728 per unit. There are 58 days left until the end of the year. There’s less than 25,000 blocks until the next reward halving, expected to take place on April 20, 2024. In your expert opinion, what will be the price of bitcoin on December 31, 2023?

I will leave you a link to the answers, as some artificial intelligence applications did not give answers, and some gave answers such as the general range of $15k to $40k, or around $40,000 per unit, or between $30,000 and $50,000, and the answer was rarely in the range of 5k.

Nrcewker

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AI gives answers or prompts based on past trends or history. So definitely we can’t rely on AI’s predictions. Yes what we can do is just estimate the market conditions using AI, it’s analysis power will surely help us to conclude a final result. If you ask me then I think Bitcoins will cross 50k usd by the end of this year. This is because, Bitcoins follow a 4 year cycle to reach ATH price and 2024 is the 4th year. So fingers crossed and let’s hope for the best.

dunfida

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Quote from: Dr.Bitcoin_Strange on November 05, 2023, 07:28:04 PM

Quote from: letteredhub on November 05, 2023, 07:10:47 PM

Six AI chatbots forecast bitcoin to reach $45k by December 31 2023. From the article the test was first carried out June this year which it was predicted that the price will get to $45k by the end of the 2023 year, and on the 3rd of this month of November 2023 another query test was carried out using 6 different AI chatbots to inquire what the price of bitcoin could be by end of the year and they all gave predictions that points to $45k at most. And the most intriguing thing about this which caught my attention is that it was same price prediction range it gave sometime June this year when the first test was conducted.

AI or not, some experts have also collectively looked at the market, the price chart of Bitcoin, and made their prediction that Bitcoin was going to hit $40k towards the end of the year. Those AIs are also using information from the past price history of Bitcoin to make their predictions. The fact that those AI predicted $45k doesn't mean it's very accurate; it's still speculation, just like humans have always speculated. Nothing special. The AI is not speaking with a guarantee that Bitcoin must get to $45k before December 31. When we speculate about prices, it sometimes doesn't work like that because the market is not in our control. The same is applicable to AI; they don't control the market.

We should really be thinking or realize for ourselves that AI is really that basing up on what are those past events on which there's no way that it could really be able to make up some prediction in speaking about those past events. It could be right and it could be wrong, there's no way for AI could tell even human beings. Everything could really be always that random and this is why you should really be that having that kind of prediction
and never ever make yourself do think about being precise because there's no way that you could really be able to predict on where prices could go.For now then there's no way that we could really be able to get that 45k
on this year end but we know that it is really that hard to break that certain point specially on 35k. We are already that 2 months left for this year on which it is really that short already
and if we do really trying to look into the price movement then it is really that too hard to tell that we could be able to reach that but if we do have that kind of positive news then it might be possible
but it seems that it is really not able to reach out that point but well who knows? Market is always been that unpredictable.

Republikcoin.com

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Quote from: Richbased on November 06, 2023, 03:21:12 AM

Inasmuch as I know AI is just speculating the price of bitcoin in consideration with the current price now, just like every other human is doing their own speculation. Bitcoin is a volatile asset and has the tendency of fluctuating in it's price in the market so projecting the price to be around $45,000 towards the end of the year may not be as accurate as the AI predicted but however the best option now is still to buy and HODL

AI is not a machine that predicts the future and is also not an observing machine that happens by itself because this tool was also created by humans so its predictions for the price of Bitcoin are not much different from what many people are saying or predicting at the moment. I only have a price speculation of $40K for the end of this year although there could be enough time for Bitcoin to rise to $45K from now, because predicting the price of Bitcoin accurately is actually still quite difficult even though there are many tools that can be used to analyze the price through what that has happened in the market now.

KingsDen

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Quote from: letteredhub on November 05, 2023, 07:10:47 PM

So I decided to bring it to the forum to know about what other forum members think about this AI prediction. Is it a prediction you can rely on or it's just one of those common bitcoin price predictions of the decade we are used to from different angles, is there anything special about this one .

Tbh, there's nothing serious to be considered here. It is a mere prediction by AI which is no where close to accuracy because there's no standard data from which AI formed the decision apart from random speculations.
If you are conversant with AIs, you will understand that they do not predict the future. They only say things that has happened in the past or future things with former occurrences.

Before the AI results, most of us including myself have predicted that the highest bitcoin can go this year is 45k. It is based on this popular prediction by most people that AI gave those speculative answers. So, the result is believable but the market may decide to surprise everyone.

Yamane_Keto

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I will keep repeating that articles on Bitcoin.com News are often misleading or have inaccurate narratives.
Artificial intelligence predictions depend on the quality of the inputs and on the artificial intelligence algorithm used, but they are no better than technical analysis indicators, which measure price changes in specific periods or according to trading volumes. Therefore, $45k is a good prediction for Bitcoin prices, and only two resistance levels separate us from it, which They will probably be broken within the next 30 days. this prediction is possible.

On Github there are some codes for open source Bitcoin AI prediction services but I doubt it has reasonable accuracy.

Don Pedro Dinero

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Yes, well, that's a reasonable prediction, within the range of what I expect the price to be.

Quote from: OgNasty on November 05, 2023, 07:22:17 PM

Given how AI and markets both work in similar ways, I’m curious how accurate AI models will be when it comes to Bitcoin. It would make sense to me if AI were able to predict things better than people when it comes to Bitcoin, considering Bitcoin is in my opinion less manipulatable than traditional investments.

As there is a degree of unpredictability, I expect AI to be wrong sometimes, but to tend to be less wrong than humans, and more so over time, as it continues to learn.It is not clear to me whether it will be more accurate with bitcoin than with traditional investments, though.

Texac

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Quote from: kentrolla on November 06, 2023, 03:48:38 AM

I see a lot of people agreeing with AIs prediction and some syas that there has been experts opinion on similar terms that Bitcoin will be finishing this year around $45k mark but I repeat once again not to blindly follow anyone who claims to be experts and AI will source it's result through various analysis and logical reasoning available on web but either of them could go wrong because if we go by AI then all the signals generated by AI bot while trading should be accurate but that isn't the case and if we have to believe in expert's opinion they are the same people who once said Bitcoin will reach $100k back in 2018 which turned out to be a disastrous year, I still remember towards the end 2018 Bitcoin was trading at $3000 the same people used to say Bitcoin is a bubble which has bursted. Please do your own research and analysis along with the news and events related to Bitcoin it will give you best direction about the price.

Many people agree with that prediction because they are also hoping and expecting bitcoin to reach that price by the end of this year. I think at this point there won't be too many people hoping for bitcoin to fall more to buy, but instead everyone wants bitcoin to grow and reach a higher price. so, any prediction of a higher bitcoin price than it is now will be supported by everyone.

But the market is unpredictable and I have even less confidence in what the AI predicts as if it could predict what the market will be like in the future. so do we need to learn more knowledge?

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