The cryptocurrency for which ChatGPT predicted growth by 4700% has been named

Based on historical data and current events in the crypto asset market, ChatGPT, an AI-based chatbot, has presented a forecast of the value of Polkadot (DOT). According to AI, DOT can reach $ 150 by the end of 2023 and $ 250 by the end of 2024.

At the time of writing, Polkadot is trading at $ 5.18, reaching $ 250 will mean a 4729% increase in the token’s value. In its forecast, ChatGPT took into account the results of the Polkadot Decoded conference held in Copenhagen on June 28 and 29. At the event, Polkadot founder Gavin Wood presented a new roadmap for the project.

«Overall, the Polkadot ecosystem is designed to foster innovation and collaboration across different blockchains. It provides developers with a flexible and scalable platform for creating a wide range of decentralized applications,» ChatGPT’s rationale reads.

However, experts noted that the ChatGPT system is imperfect and can only be conditionally used to predict crypto asset prices. Some of the results obtained earlier turned out to be inaccurate or false, with large deviations from the real price data collected from TradingView.

As a reminder, cryptocurrency blogger and CNBC analyst Ren Neuner said in early July that not all altcoins will be able to survive the next bearish trend in the cryptocurrency market, but DOT has a chance. Given the strong market volatility, Neuner advised users to choose altcoins for their investment portfolios with caution. «It's important to pay attention to the real utility of a crypto asset and its market viability,» Neuner emphasized, noting that the DOT token has these features.