Avalanche (AVAX) has had a very interesting 2023. It has, for example, made several key partnerships such as those with Amazon’s (NASDAQ: AMZN) AWS – a leading provider of infrastructure for cloud computing – and BLRD – a gaming company seeking to build its first Web3 game with the help of Avalanche.
The price of AVAX has also been interesting throughout the year, particularly in the last three months, as it has surged by more than 200%. It also experienced a significant spike in volume at the beginning of the fourth quarter of the year, largely due to the launch of Stars Arena – though this has diminished after the platform was hacked in early October.
With all of these developments in mind and the new year in just a few days, Finbold decided to consult the artificial intelligence (AI) of ChatGPT – the flagship platform of OpenAI – on where AVAX might find itself on January 1, 2024.
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ChatGPT predicts AVAX price on New Year’s Day
When making its prediction, ChatGPT took into account the various developments pertaining to Avalanche, and boosting its overall ecosystem, as well as its recent price movements, and initially estimated that AVAX would find itself somewhere between $50 and $60.
When pressed to narrow the range, the AI stated that it considers $42-47 as the most credible, though it highlighted that, even by the standards of the crypto market, AVAX has been going through significant volatility.
ChatGPT also admitted that it sees some potential for a more significant bull run in the coming days that could take Avalanche as high as $65 provided the market more broadly maintains a decisive upward momentum.
Interestingly, CharGPT’s predictions align relatively closely with those made by another major AI platform – Google Bard – approximately two weeks earlier. Google’s (NASDAQ: GOOGL) large language model (LLM) at the time stated that Avalanche is likely to stand no higher than $63.38 on January 1, 2024.
The AI also warned that there is always the danger of adverse developments – regulatory, technological, or market-driven – and that these could take AVAX as low as $30 before the year is out.
AVAX price analysis
AVAX’s recent price movements serve well to showcase the cryptocurrency’s overall volatility, as well as its recent dramatic bull run. In the last 24 hours, Avalanche declined 3.80% to the price of $44.42 by the time of publication.
On the other hand, looking at the previous 30 days, AVAX decisively continued its Q4 rally and is up 116.14%. Finally, looking at the entire previous year, Avalanche rose significantly from its price during the “crypto winter” and is overall nearly 280% in the green.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
