5 Shocking Chatgpt Crypto Predictions For Next 10 Years
Evolution drives growth, and the latest development after blockchain and crypto that’s driving evolution is the rise of Artificial Intelligence or as it’s popularly known, AI. We haven’t reached the stage where AI is autonomous like Skynet from Terminator, or the Autobots from Transformers, but the era of artificial intelligence has begun. In a span of less than a year, millions have flocked to AI servers already.
Various sectors like finance, medicine, science, and others are intensively indulged in the exploration of AI applications. As we already know artificial intelligence has revolutionary potential to transform any area with incredible capabilities, it can also make predictions about the future on the basis of available data on its servers. So, we interacted with one of the most widely used AI tools, to predict the crypto space in the next 10 years. In the flash of time, the results of ChatGPT crypto predictions surprised us.
In this article, we will review the top 5 ChatGPT crypto predictions that we got. You can find it quite surprising or shocking, but here “it is what it is”. So, without any further jargon, let’s jump straight into our topic.
1. Bitcoin Dominance To Plunge
The first crypto prediction by ChatGPT is about the largest cryptocurrency ‘Bitcoin’. It appears ChatGPT is in the know about the top dog in the crypto jungle. But the surprising fact that was on display can not be digested by most Bitcoin enthusiasts. It says, in the forthcoming 10 years, Bitcoin’s dominance will decline due to the emergence of other crypto projects like Ethereum and Cardano.
According to the ChaptGPT, scalability, and efficiency of these projects will be key specifications that will outperform the Bitcoin network. Currently, existing projects like Cardano, Ethereum, and Polkadot will gain traction among total DeFi users. The reason behind it is nothing but additional functionality of these projects due to their smart contract capabilities. Also, layer 2 and layer 3 scalability solutions are also taking shape for these blockchains to enhance network performance. These solutions are likely to boost transaction speed and improve transaction costs.
The number of investors departing from Bitcoin will divert towards currently existing cryptocurrencies like Ethereum, Cardano, Polkadot, and so on to diversify their portfolio.
Our Opinion/ Stance: Disagree
In our opinion, Bitcoin is built strong and in the nearby future, no cryptocurrency can take down Bitcoin. We have already witnessed a downfall in all major cryptocurrencies. We are not denying the fact that other projects won’t get attention. But despite challenges from other projects, Bitcoin will remain king in the jungle.
If we look at the number of active DeFi users, then currently 6.5 million people are engaged in various DeFi activities, according to the Nansen . Despite having risen in the number of DeFi users in the last few years, this is still a very small fraction of the world population. In the upcoming years, a number of DeFi users is going to be imploded. So, overall crypto markets will benefit.
Though, the popularity of Bitcoin will be untouched as a lot of countries want to declare Bitcoin as legal tender. Even a country like El Salvador already announced Bitcoin as a legal tender in the country. Furthermore, in comparison to other cryptocurrencies, Bitcoin is still less volatile in nature, making it an ideal choice for crypto investors. So, we completely disagree with ChatGPT on the fact that Bitcoin’s dominance will decline in the next 10 years.
2. The Rise of Central Bank Digital Currencies (CBDCs)
In a second guess, ChatGPT named another notorious crypto concept called Central Bank Digital Currency. is the digital form of legal tender issued and regulated by the country’s competent monetary authority like the central bank. It leverages blockchain technology at its core which empowers it with transparency, security and flexibility.
According to the ChatGPT, the global financial landscape will be overwhelmed by the widespread adoption of Central Bank Digital Currencies (CBDCs) by different countries. Currently, a lot of countries including China, India, Japan, and others are performing the trial run of their CBDC projects.
Another advantage of CBDCs is that they can provide financial inclusion for those who are currently unable to connect with the wider economy. By providing a digital alternative to cash, CBDCs can make it easier for people to access financial services and participate in the digital economy. This can be particularly beneficial for people in developing nations, where access to traditional banking services is limited.
Our Opinion/ Stance: Agree
There’s no room for doubt that CBDC has a promising future. It can empower the present financial system with a secure, transparent and reliable mode of digital payment. Furthermore, cooperation between friendly nations can also utilize for a cross-border payment system and trade. So, without any questions, on this fact, we will hold common ground with ChatGPT.
3. AI-Powered Trading Will Soar
ChatGPT knows how to flex and promotes its family. On number 3, ChatGPT flexed the use of AI trading bots in the crypto space.
An AI crypto trading bot is a computer program that uses artificial intelligence to automatically trade cryptocurrencies. It analyzes market data and makes decisions on buying or selling digital assets based on predefined strategies. One of the significant use of these crypto-trading bots is to make precise and accurate decisions on behalf of investors to protect them from devastating loss. Despite the highly volatile nature of cryptocurrency, such AI crypto trading bots can also maximize profits.
There are a myriad of crypto trading bots available in the market, but, one should make the right choice by doing research and assessing the market reputation. To find the best crypto trading bots, you can read our article on .
On the other hand, the potential for large-scale AI-powered trading also raises concerns about market manipulation and volatility, according to the ChatGPT.
Our Opinion/ Stance: Partially Agree
At some level, we partially agree with ChatGPT’s prediction about AI crypto bots. Currently, a lot of crypto investors are overwhelmingly using AI trading bots to lock in enormous profits and mitigate losses. These AI trading bots can quickly analyze market data and make critical decisions in just a fraction of the time. However, one should be aware of risks associated with AI crypto trading bots like flash crashes. For that instance, investors should have to conduct research and check the market reputation of AI trading bots before they use them.
4. Decentralized Finance (DeFi) Will Transform Traditional Finance
The fourth prediction, ChatGPT, shared the clean fact that will transform the traditional finance landscape and DeFi’s growing popularity is evidence of this fact.
Decentralized Finance (DeFi) has the power to transform traditional finance in multiple ways. Firstly, DeFi eliminates the need for intermediaries like banks by using blockchain technology, enabling individuals to directly engage in financial activities such as lending and trading. This reduces costs and increases efficiency.
Secondly, DeFi promotes financial inclusion as it operates online, allowing anyone with internet access to participate. This opens up opportunities for people in underserved regions to access loans and investment options. DeFi also offers transparency and security through its decentralized nature, ensuring trustworthy transactions.
Furthermore, DeFi encourages innovation by enabling the creation of new financial products and services. Overall, DeFi has the potential to make finance more accessible, transparent, and efficient, leading to its widespread adoption and transformative impact on the global financial system.
Our opinion/ Stance: Strongly Agree
After seeing a boom in the digital assets and crypto market, we have no reason to deny the fact that DeFi can transform the financial landscape. New innovation around Web3 and DeFi space has enticed a lot of new users in recent years. However, growing regulatory scrutiny and ongoing discussion about crypto regulation could deter the meaning of the DeFi.
5. Environmental Concerns Will Drive Eco-Friendly Crypto Solutions
According to the ChatGPT, the crypto community is moving toward more eco- friendly crypto solutions due to growing energy concerns around the globe. The from a non-profit organization, RMI, states that Bitcoin’s energy consumption alone is 127 terawatt-hours (TWh) a year, contributing to 25 to 50 million tons of carbon emissions. This enormous amount of energy is sufficient to meet the energy needs of some countries, like Norway.
But as we all know, more clean energy development is taking place, as it does in the blockchain realm. Already a major blockchain, the Ethereum blockchain shifted to a proof-of-stake consensus mechanism from proof-of-work. Furthermore, a lot of projects are developed on the basis of energy-efficient consensus mechanisms to reduce their environmental impact. In another way, this development will also benefit users by cutting down transaction costs.
Our Opinion/ Stance: Hell Yeah/ Strongly Agree
In our opinion, energy-efficient crypto projects are the future as their dependency on power reduces, ultimately granting them more independence from local governments. Furthermore, these projects will also contribute to reducing global warming impacts.
Conclusion :
In the end, we want to emphasize that the crypto space requires awareness before achieving widespread mainstream adoption. Currently, it is striving to demonstrate its potential to regulators, the government, and ultimately end users. As a result, there is a considerable amount of uncertainty surrounding the crypto space. Amidst such uncertainty, predictions from AI tools like ChatGPT are not absolute truths. However, some of its predictions align with expert opinions and may prove to be accurate.