ChatGPT Has a Big Misconception About Bitcoin’s ATH Price

Bitcoin
cryptopotato.com 2 h    Reading time: ~2 m

Although it was launched less than a year ago in its current version, ChatGPT has already made massive strides in the AI community and has become a go-to chatbot for countless questions and inquiries.

However, it’s worth noting that the AI virtual machine is not perfect, makes certain mistakes, and cannot be trusted blindly.

No, ChatGPT, BTC Has Not Reached $100K Yet

The AI chatbot took the world by storm last year as it managed to answer (almost) all questions and queries it was asked with spectacular precision. Being powered by artificial intelligence, it manages to provide real-life answers as it continues to readjust.

However, there are also a rising number of reports that ChatGPT has got some facts wrong, so we decided to test it from a bitcoin perspective. In general, the chatbot answers correctly questions regarding the largest cryptocurrency, including what it is, how it operates, its decentralized nature, what is mining, etc.

However, it made one interesting mistake. On the question of whether the primary digital asset had ever reached or exceeded $100,000, ChatGPT answered:

“Yes, Bitcoin has reached and surpassed the $100,000 price mark. Bitcoin experienced a significant price rally, and on multiple occasions in 2021 and 2022, it reached and exceeded $100,000 per Bitcoin.”

What’s even more confusing about this is the fact that the chatbot admits its knowledge was cut off in September 2021, so how does it know that BTC exceeded $100,000 on “multiple occasions” in 2022?

Bitcoin’s Real ATH

The $100,000 milestone has a particularly special sentiment for the cryptocurrency community and the BTC maxis specifically. Recall that Twitter turned to logos with laser eyes a few years ago when the asset was registering new ATHs above $50,000 and $60,000 almost daily.

This was back in late 2021 when positive news regarding the asset came left and right, with multiple new bitcoin-related ETFs being launched even in the US, several large companies buying portions of the asset, and numerous legacy investors going live to defend and praise it.

The eyes were everyone on CT, representing the community’s hopes and dreams that BTC will eventually (and soon) go into the six-digit territory.

What followed was precisely the opposite. The cryptocurrency peaked at $69,000 in November 2021 and headed straight south. 2022 was a lot less favorable as BTC slumped to under $17,000 by the end of it. Despite the positive start of 2023, with bitcoin trading nearly 60% higher, the asset is still far away from the $100,000 mark.

You can find more of our ChatGPT-related content, including what the chatbot thinks will happen to BTC after the 2024 halving – here, here, and here.



Source

Updated: 05/30/2023 — 14:00

Leave a Reply

Your email address will not be published. Required fields are marked *