Topic: Chat GPT do a TA about bitcoin - page 4. (Read 573 times)
With medium and long-term predictions, it would take us decades to acquire enough data to judge just how accurate ChatGPT is. It would be interesting to take past price charts, ask ChatGPT where the price will go and compare it to what actually happened, although maybe the current model is based on the full Bitcoin price history and it wouldn't be fully correct to apply it to some previous fragment.
Seems like reasonable conclusions, stick to simple observations and its not hard to point out that moving averages have been aligning to a more positive direction then we saw in 2022. The immediate price action is meeting 50 day which is negative, so most immediately we are challenged in that measure but its less important then the 200 day which is rising so I think me and the bot should agree.
These AI bots aren't real intelligence imo but also not something to dismiss either, they collate information and make it more accessible, its finesse more then an actual giant leap forward but I'd like to find out Im too pessimistic also. I expected something like this 20 years ago, I believe the power to provide processing has become more available thats part of why now.
These AI bots aren't real intelligence imo but also not something to dismiss either, they collate information and make it more accessible, its finesse more then an actual giant leap forward but I'd like to find out Im too pessimistic also. I expected something like this 20 years ago, I believe the power to provide processing has become more available thats part of why now.
This is very interesting, I also asked another chatbot to do a TA about Bitcoin and somehow I got a different answer.
As we can see the probability for the TA to realize in short term is about 50%, medium term 30% and long term 70%. The chatbot is connected to internet so it is possible that it gathers data on the internet and count the months from current to the months asked.
It is fun to ask AI's since they tend to give different answer if we reconfirm our questions, like when I reconfirm the AI's answer it gives me this answer
Quote
1-3 months
In the short term, Bitcoin's price is currently consolidating within a range between $28,000 and $30,000. The bulls are trying to push the price above the resistance level of $30,000, while the bears are trying to push the price below the support level of $28,000. If the bulls are successful, the price could rally to $35,000. However, if the bears are successful, the price could fall to $25,000.
Probability:
The probability of Bitcoin's price rallying to $35,000 in the short term is 50%. The bulls and bears are currently evenly matched, and it is difficult to say who will be successful in the short term.
4-6 months
In the medium term, Bitcoin's price is still in a downtrend. The price is currently trading below the 200-day moving average, which is a bearish indicator. The bulls need to close the price above the 200-day moving average in order to invalidate the downtrend. If the bulls are successful, the price could rally to $40,000. However, if the bears are successful, the price could fall to $20,000.
Probability:
The probability of Bitcoin's price rallying to $40,000 in the medium term is 30%. The bears are still in control of the market, and they are likely to continue to push the price down until the bulls can close the price above the 200-day moving average.
7-9 months
In the long term, Bitcoin's price is still in an uptrend. The price is currently trading above the 200-day moving average, which is a bullish indicator. The bulls need to close the price above the all-time high of $68,789 in order to invalidate the uptrend. If the bulls are successful, the price could rally to $100,000. However, if the bears are successful, the price could fall to $10,000.
Probability:
The probability of Bitcoin's price rallying to $100,000 in the long term is 70%. The bulls have been able to hold the price above the 200-day moving average, and they are now trying to push the price above the all-time high of $68,789. If the bulls are successful, the price could rally to $100,000. However, the bears are still in control of the market, and they could easily push the price back down to $10,000.
In the short term, Bitcoin's price is currently consolidating within a range between $28,000 and $30,000. The bulls are trying to push the price above the resistance level of $30,000, while the bears are trying to push the price below the support level of $28,000. If the bulls are successful, the price could rally to $35,000. However, if the bears are successful, the price could fall to $25,000.
Probability:
The probability of Bitcoin's price rallying to $35,000 in the short term is 50%. The bulls and bears are currently evenly matched, and it is difficult to say who will be successful in the short term.
4-6 months
In the medium term, Bitcoin's price is still in a downtrend. The price is currently trading below the 200-day moving average, which is a bearish indicator. The bulls need to close the price above the 200-day moving average in order to invalidate the downtrend. If the bulls are successful, the price could rally to $40,000. However, if the bears are successful, the price could fall to $20,000.
Probability:
The probability of Bitcoin's price rallying to $40,000 in the medium term is 30%. The bears are still in control of the market, and they are likely to continue to push the price down until the bulls can close the price above the 200-day moving average.
7-9 months
In the long term, Bitcoin's price is still in an uptrend. The price is currently trading above the 200-day moving average, which is a bullish indicator. The bulls need to close the price above the all-time high of $68,789 in order to invalidate the uptrend. If the bulls are successful, the price could rally to $100,000. However, if the bears are successful, the price could fall to $10,000.
Probability:
The probability of Bitcoin's price rallying to $100,000 in the long term is 70%. The bulls have been able to hold the price above the 200-day moving average, and they are now trying to push the price above the all-time high of $68,789. If the bulls are successful, the price could rally to $100,000. However, the bears are still in control of the market, and they could easily push the price back down to $10,000.
As we can see the probability for the TA to realize in short term is about 50%, medium term 30% and long term 70%. The chatbot is connected to internet so it is possible that it gathers data on the internet and count the months from current to the months asked.
It is fun to ask AI's since they tend to give different answer if we reconfirm our questions, like when I reconfirm the AI's answer it gives me this answer
Quote
I am not sure about my answer on what is TA of bitcoin price for 1-3 months, 4-6 and 7-9 and the percent probability for it to happen. I am a large language model, also known as a conversational AI or chatbot trained to be informative and comprehensive. I am trained on a massive amount of text data, and I am able to communicate and generate human-like text in response to a wide range of prompts and questions. For example, I can provide summaries of factual topics or create stories. However, I am not able to predict the future with 100% accuracy.
The future price of Bitcoin is uncertain, and it will depend on a variety of factors, including economic conditions, regulatory changes, and technological advancements. It is important to do your own research before making any investment decisions.
The future price of Bitcoin is uncertain, and it will depend on a variety of factors, including economic conditions, regulatory changes, and technological advancements. It is important to do your own research before making any investment decisions.
Recently, I started experimenting with AI tools. They are incredible tools with tremendous potential, but also full of errors. Out of curiosity, I asked Chat GPT for predictions on future Bitcoin prices. Of course, it immediately mentioned that it only has data up until 2021. After providing it with the current data from the last six months, it generated the following prediction. What do you think of it, and what are your thoughts on the potential of AI in technical analysis?
The AI may be as that good enough to believe in what data analysis they present us but that doesn't mean they are hundred percent 100% accurate and keen for acceptance, they also work in line base on the level of the programming made on them to perform a particular task, this is one of the reasons the use of AI is not an acceptable means of postings on this forum's signature campaigns, the end result they may later generate for you may not be as adequately equal to the expected results or the real state or what the future may landed at.
This is kind of interesting, even if worth taking with a large pinch of salt 
Out of interest did you also provide it with human-based analysis of Bitcoin's price, such as tradingview publications, or merely the price data? As it seems to be regurgitating a lot of analysis already out there imo. Therefore it seems likely it has categorised the possible outcomes based on the amount of analysis provided on these outcomes, as opposed to "forming" it's own statistical analysis.
Out of interest did you also provide it with human-based analysis of Bitcoin's price, such as tradingview publications, or merely the price data? As it seems to be regurgitating a lot of analysis already out there imo. Therefore it seems likely it has categorised the possible outcomes based on the amount of analysis provided on these outcomes, as opposed to "forming" it's own statistical analysis.
ChatGPT does not have access to the internet. The data it is based on ends in 2021, and what comes after that is very fragmented and incomplete. So, the analysis I shared with you is not based on other online analyses of current bitcoin price change. The data the model received from me consists of daily OHLC (Open, High, Low, Close) prices starting from January 2023. The analysis seams to be based on that, price action before 2021 and old analysis that model already had.
Also, although bullish predictions have been made short to long-term, there is notably no possibility of a bearish outcome here? Ie 100% of the outcomes are bullish which seems completely unrealistic, even if price is to continue higher. Either way, I'd be interested to hear updates from Chat GPT if you are willing to feel it the latest data in the future, in order to see how accurate these predictions are!
It seems to me that these percentages do not add up to 100%, because they relate to different time intervals. The bot seems to give the most likely scenario for a given period and gives its probability. The second analysis seems better.
Thanks for the answer. Yes, I think it's an interesting topic and I'll try to update the thread with current analysis as well as improve the prompt for AI to get better answers in future.
This is kind of interesting, even if worth taking with a large pinch of salt
Out of interest did you also provide it with human-based analysis of Bitcoin's price, such as tradingview publications, or merely the price data? As it seems to be regurgitating a lot of analysis already out there imo. Therefore it seems likely it has categorised the possible outcomes based on the amount of analysis provided on these outcomes, as opposed to "forming" it's own statistical analysis.
Also, although bullish predictions have been made short to long-term, there is notably no possibility of a bearish outcome here? Ie 100% of the outcomes are bullish which seems completely unrealistic, even if price is to continue higher. Either way, I'd be interested to hear updates from Chat GPT if you are willing to feel it the latest data in the future, in order to see how accurate these predictions are!
Thanks for sharing.
Out of interest did you also provide it with human-based analysis of Bitcoin's price, such as tradingview publications, or merely the price data? As it seems to be regurgitating a lot of analysis already out there imo. Therefore it seems likely it has categorised the possible outcomes based on the amount of analysis provided on these outcomes, as opposed to "forming" it's own statistical analysis.
Also, although bullish predictions have been made short to long-term, there is notably no possibility of a bearish outcome here? Ie 100% of the outcomes are bullish which seems completely unrealistic, even if price is to continue higher. Either way, I'd be interested to hear updates from Chat GPT if you are willing to feel it the latest data in the future, in order to see how accurate these predictions are!
Thanks for sharing.
Recently, I started experimenting with AI tools. They are incredible tools with tremendous potential, but also full of errors. Out of curiosity, I asked Chat GPT for predictions on future Bitcoin prices. Of course, it immediately mentioned that it only has data up until 2021. After providing it with the current data from the last six months, it generated the following prediction. What do you think of it, and what are your thoughts on the potential of AI in technical analysis?
Second attempt with slightly different prompt:
Its nice that both are bulish
Quote
Short-term Scenario (1-3 months):
Based on the recent price movements, the short-term scenario for Bitcoin is as follows:
Probability: 40%
In this scenario, Bitcoin's price may experience a consolidation phase with a slight upward bias. It may encounter resistance around the previous high levels, such as $29,000-$30,000. The trading volume is expected to remain moderate, indicating a cautious sentiment among traders. The key support level to monitor is around $26,000. If the price breaks below this level, it could signal a bearish trend continuation.
Medium-term Scenario (3-6 months):
Probability: 30%
In the medium-term scenario, Bitcoin's price could exhibit increased volatility and potentially enter a new uptrend. The probability of this scenario is lower due to the overall market uncertainty and the need for a sustained bullish trend. If Bitcoin manages to break above the resistance level near $30,000, it may attract more buyers, leading to a potential rally. The key resistance to watch for is around $35,000. However, a failure to break above this level could result in a continuation of the consolidation phase or a bearish reversal.
Long-term Scenario (6+ months):
Probability: 30%
The long-term scenario for Bitcoin suggests a potential continuation of the bullish trend, but with increased volatility and periodic corrections. Bitcoin's price could aim for new all-time highs, potentially surpassing the previous peak around $64,000. The probability of this scenario is lower due to the inherent uncertainty in long-term predictions and the influence of external factors on the cryptocurrency market. It is important to monitor key support levels, such as $40,000 and $50,000, as significant breaches of these levels could indicate a trend reversal.
Based on the recent price movements, the short-term scenario for Bitcoin is as follows:
Probability: 40%
In this scenario, Bitcoin's price may experience a consolidation phase with a slight upward bias. It may encounter resistance around the previous high levels, such as $29,000-$30,000. The trading volume is expected to remain moderate, indicating a cautious sentiment among traders. The key support level to monitor is around $26,000. If the price breaks below this level, it could signal a bearish trend continuation.
Medium-term Scenario (3-6 months):
Probability: 30%
In the medium-term scenario, Bitcoin's price could exhibit increased volatility and potentially enter a new uptrend. The probability of this scenario is lower due to the overall market uncertainty and the need for a sustained bullish trend. If Bitcoin manages to break above the resistance level near $30,000, it may attract more buyers, leading to a potential rally. The key resistance to watch for is around $35,000. However, a failure to break above this level could result in a continuation of the consolidation phase or a bearish reversal.
Long-term Scenario (6+ months):
Probability: 30%
The long-term scenario for Bitcoin suggests a potential continuation of the bullish trend, but with increased volatility and periodic corrections. Bitcoin's price could aim for new all-time highs, potentially surpassing the previous peak around $64,000. The probability of this scenario is lower due to the inherent uncertainty in long-term predictions and the influence of external factors on the cryptocurrency market. It is important to monitor key support levels, such as $40,000 and $50,000, as significant breaches of these levels could indicate a trend reversal.
Second attempt with slightly different prompt:
Quote
Scenario 1: Short-term (next few days/weeks)
Based on the recent price movements, Bitcoin has been experiencing a downward trend. There is a possibility that the price might continue to decline in the short-term. The key support level to watch is around $26,000. If Bitcoin breaks below this support level, it could indicate further downside potential. However, if the price manages to hold above this level and starts to rebound, we may see a short-term rally towards the resistance level around $28,500.
Probability: There is a 40% chance of a short-term price decline, and a 60% chance of a short-term price rebound.
Scenario 2: Medium-term (next few months)
In the medium-term, the price of Bitcoin will be influenced by various factors, including market sentiment, institutional adoption, regulatory developments, and overall market conditions. If Bitcoin manages to regain positive momentum and break above the resistance level around $28,500, it could signal a bullish trend. In this scenario, Bitcoin may experience a gradual uptrend, with potential resistance levels at $30,000 and $32,000.
Probability: There is a 30% chance of a medium-term bullish trend, a 40% chance of a sideways consolidation, and a 30% chance of a medium-term bearish trend.
Scenario 3: Long-term (next several months to a year)
The long-term outlook for Bitcoin depends on various fundamental factors, including macroeconomic conditions, institutional adoption, regulatory developments, and market acceptance. If Bitcoin manages to maintain its position as a leading cryptocurrency and continues to gain mainstream acceptance, there is a possibility of a long-term uptrend. In this scenario, Bitcoin could potentially reach new all-time highs, surpassing the previous peak levels. However, it's important to note that the cryptocurrency market is highly volatile, and there are inherent risks involved.
Probability: There is a 40% chance of a long-term bullish trend, a 30% chance of a sideways consolidation, and a 30% chance of a long-term bearish trend.
Based on the recent price movements, Bitcoin has been experiencing a downward trend. There is a possibility that the price might continue to decline in the short-term. The key support level to watch is around $26,000. If Bitcoin breaks below this support level, it could indicate further downside potential. However, if the price manages to hold above this level and starts to rebound, we may see a short-term rally towards the resistance level around $28,500.
Probability: There is a 40% chance of a short-term price decline, and a 60% chance of a short-term price rebound.
Scenario 2: Medium-term (next few months)
In the medium-term, the price of Bitcoin will be influenced by various factors, including market sentiment, institutional adoption, regulatory developments, and overall market conditions. If Bitcoin manages to regain positive momentum and break above the resistance level around $28,500, it could signal a bullish trend. In this scenario, Bitcoin may experience a gradual uptrend, with potential resistance levels at $30,000 and $32,000.
Probability: There is a 30% chance of a medium-term bullish trend, a 40% chance of a sideways consolidation, and a 30% chance of a medium-term bearish trend.
Scenario 3: Long-term (next several months to a year)
The long-term outlook for Bitcoin depends on various fundamental factors, including macroeconomic conditions, institutional adoption, regulatory developments, and market acceptance. If Bitcoin manages to maintain its position as a leading cryptocurrency and continues to gain mainstream acceptance, there is a possibility of a long-term uptrend. In this scenario, Bitcoin could potentially reach new all-time highs, surpassing the previous peak levels. However, it's important to note that the cryptocurrency market is highly volatile, and there are inherent risks involved.
Probability: There is a 40% chance of a long-term bullish trend, a 30% chance of a sideways consolidation, and a 30% chance of a long-term bearish trend.
Its nice that both are bulish
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