Few will miss that artificial intelligence (AI) technology is making a serious advance. One of the best known examples is of course ChatGPT, a platform that can generate text. We asked ChatGPT for both a bullish like a bearish scenario for the course of gimbal (ADA).
What will the ADA price do?
First of all, it is of course important to mention that an AI model such as ChatGPT cannot provide accurate financial advice. It is purely a program that can generate text based on information it can find online in its gigantic database. Nevertheless, ChatGPT gave a very interesting answer to the question.
According to ChatGPT, the future for Cardano could be very bright. The AI gave three possible events that could provide a positive price boost for ADA. First of all, that’s a rising adoption of ADA for transactions and smart contracts. If more people start using the Cardano network, it is not surprising to expect that the price of ADA will also increase.
“Cardano has a lot of potential for growth and development. If the Cardano team can continue to deliver on their roadmap and execute on their plans, there are several factors that could lead to a bullish scenario for the price of ADA.”
In addition, improving the Cardano network itself can also have a positive effect on the price. Think of scalability and speed of transactions.
Finally, ChatGPT believes that attracting major financial institutions could create a truly bullish scenario for the ADA price. According to ChatGPT, this could be a signal to the private investor that cardano might be worth it.
A bearish scenario?
Also, the clapper can follow the other way according to ChatGPT. A bearish According to the model, a scenario arises from, among other things, successful competition, for example Solana (SOL), problems with regulation and, finally, not being able to keep all the promises made by the Cardano team. Any of these things, according to ChatGPT, would not benefit the ADA rate and may cause a drop in price.
Of course, ChatGPT cannot predict which scenario will eventually come true. It does, however, provide an interesting insight into the model’s ‘view’ of the current situation cryptocurrency market.