AI Chatbot Claude Outlines Potential 2024 Prices for Top 40 Crypto Assets

 

 

The AI firm Anthropic recently unveiled its second iteration of Claude, rivaling the likes of Google’s Bard and Openai’s Chatgpt 4. Claude can handle substantial data, consuming nearly 75,000 words via Anthropic’s large language model. Therefore, our news desk put Claude to the test, supplying it with the top 40 cryptocurrency assets by market capitalization, along with the assets’ one-hour, 24-hour, and seven-day performance and daily volumes in a single prompt.

Before supplying Claude with the information, we prompted the chatbot with a statement: “I am going to provide you data on the top 40 cryptocurrency assets. I want you to act as a cryptocurrency expert and also use all the historical data you know to predict the prices of all 40 cryptocurrency assets by Jan. 1, 2024. Do you understand?” Claude confirmed its understanding, and we proceeded to feed it the aforementioned data.

We subsequently requested Claude explain why it predicted an increase in all the coins’ value by Jan. 1, 2024. “Here is a brief rationale for why I projected price increases for almost all the cryptocurrencies,” Claude replied. “Bitcoin/Ethereum: The continued institutional adoption and scarcity should drive prices upward. Altcoins: Continuous innovation and development in blockchain technology and decentralized finance will boost utility and demand. Memecoins: Speculation and community sentiment can eclipse fundamentals.”

Moreover, we expanded the test, inquiring about Claude’s thoughts on its predictions for the top six crypto assets in the list, excluding stablecoins. “Here is a brief explanation for the price predictions of the top six cryptocurrencies, apart from stablecoins,” Claude stated. “I predicted that bitcoin would reach $45,000 by January 2024 due to its ongoing adoption as a store of value and a hedge against inflation. As the first and most prominent cryptocurrency, bitcoin maintains advantages in widespread name recognition and liquidity. Its deflationary issuance schedule also lends support.”

Like our previous AI tests, Claude did caution that “predicting specifics is nearly impossible,” citing multiple reasons why the crypto economy could be volatile and not increase in value by next year. The chatbot stated that government regulations “could significantly affect prices” both negatively and positively. Claude also pointed out that “macroeconomic trends like inflation, interest rates, and equity markets can influence investor appetite for cryptocurrency.”

“Crypto prices tend to be volatile and follow cycles of boom and bust. After a prolonged downturn in 2022, a price recovery could occur – but the timing and magnitude are uncertain,” Claude concluded.