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ChatGPT picks top 5 cryptocurrencies to buy in 2024

ChatGPT picks top 5 cryptocurrencies to buy in 2024

Following the launch of the artificial intelligence (AI) platform ChatGPT by OpenAI, which triggered a renewed wave of interest in the technology, it was not long before it started to demonstrate its capabilities across sectors, including providing insights into assets in the cryptocurrency market.

With this in mind, and with the current year nearing its end, Finbold has asked the chatbot to provide a list of the top five crypto assets that represent a good opportunity for investment in the year to come, and it has delivered some interesting results from the standpoint on October 16.

Bitcoin (BTC)

As the first suggestion, ChatGPT has singled out Bitcoin (BTC), describing it as “the first and most well-known cryptocurrency” developed in 2009, observing that many finance experts and investors consider it “a store of value” and sometimes refer to it as “digital gold.”

At press time, Bitcoin was changing hands at the price of $27,770, recording a 3.23% gain in the last 24 hours, an increase of 0.77% across the previous seven days, as well as a 4.76% advance in the last month, while measuring the growth of 67.7% since the year’s turn.

Bitcoin year-to-date (YTD) price chart. Source: Finbold

Ethereum (ETH)

The next choice by ChatGPT is Ethereum (ETH), the second-largest cryptocurrency by market capitalization, which the chatbot observed was a well-known asset that “offers something additional to just a digital currency – they provide a platform for building decentralized applications (dApps).”

In terms of its price, Ethereum is presently trading at $1,583.08, up 1.67% on the day but still holding onto the loss of 0.74% across the previous week and a 3.21% decline on its monthly chart, whereas it has gained 31.83% so far this year, as per the most recent chart information.

Ethereum year-to-date (YTD) price chart. Source: Finbold

Binance Coin (BNB)

Furthermore, the chatbot also suggested Binance Coin (BNB), the native coin of the crypto trading platform Binance but with “numerous other uses including payment for transaction fees on Binance Exchange, making in-store payments, and much more.”

As things stand, the price of BNB at the time of publication amounted to $213.01, which represents an increase of 2.77% in the last 24 hours, a 2.13% gain on its weekly chart, albeit 0.5% lower compared to 30 days ago and accumulating a loss of 12.74% in 2023.

Binance Coin year-to-date (YTD) price chart. Source: Finbold

Cardano (ADA)

Following BNB is Cardano (ADA), a proof-of-stake (PoS) blockchain platform for which ChatGPT noted that it has a goal to “allow ‘changemakers, innovators, and visionaries’ to bring about positive global change,” hence its selection as one of the top cryptocurrencies to buy in 2024.

Meanwhile, the price of Cardano at press time stood at $0.25216, which means it has increased its value by 1.95% over the last day, in addition to gaining 0.22% in the past week, growing 0.5% across the month and advancing 1.09% since January 1, 2023.

Cardano year-to-date (YTD) price chart. Source: Finbold

Polkadot (DOT)

Finally, Polkadot (DOT) is the last of the five investment-worthy digital assets offered by OpenAI’s brainchild, which has characterized it as “a multi-chain framework that supports various blockchains in a single network, aiming to achieve high levels of security, scalability, and innovation.”

Where its price is concerned, Polkadot was at press time changing hands at $3.781, which indicates a 0.61% gain in the last 24 hours but still represents a loss of 2.04% across the week and a 9.57% drop on its monthly chart while declining 12.88% in 2023.

Polkadot year-to-date (YTD) price chart. Source: Finbold

Conclusion

All things considered, ChatGPT may provide useful insights into assets in the crypto market, but it is still an AI platform and cannot predict or speculate on the future, as the bot itself noted. For this reason, doing one’s own research before investing a significant amount of money in any of the listed assets remains crucial.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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