Not long after OpenAI made its text-based artificial intelligence (AI) tool ChatGPT available to the public, a slew of other generative AI platforms came into being, including Google’s Bard, which has proven to be a valuable assistant in researching the cryptocurrency sector, including Ethereum (ETH).
Indeed, as the price of Ethereum continued to follow the majority of assets in the crypto sector in trading largely sideways in the past several days, Finbold sought Bard’s insights into the future price of the second-largest cryptocurrency by market capitalization in the summer of 2024 from a viewpoint as of July 26.
From $2,460 to $5,230
Specifically, after warning it is difficult to predict the price of ETH precisely, Bard shared several predictions, including that Ethereum could reach $2,458.15 in June 2024 and $2,519.15 in July 2024 “based on the assumption that the Ethereum ecosystem will continue to grow and develop, and that there will be increased demand for ETH.”
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Furthermore, the tool listed some of the more bullish projections, particularly by AmbCrypto, according to which the token could hit $2,630.22 in June 2024 and $2,695.49 in July 2024, “based on the assumption that Ethereum will become the dominant platform for decentralized applications (dApps).”
According to DigitalCoinPrice’s projections shared by Bard, $2,193.43 in June 2024 and $2,342.81 in July 2024 could be in play for Ethereum, or even $4,868.52 in June 2024 and $5,231.32 in July 2024, if the forecast by Gov Capital turns out correct.
Finally, Bard stated:
“Of course, it is important to remember that these are just predictions. The actual price of Ethereum in 2024 will depend on a number of factors, including the overall performance of the cryptocurrency market, the development of the Ethereum ecosystem, and global economic conditions.”
Ethereum price analysis
Meanwhile, Ethereum was at press time trading at the price of 1,855.84, showing a very modest increase of 0.03% in the last 24 hours but still dropping 2.70% across the previous seven days and losing 1.26% to its value on the monthly chart.
All things considered, as Bard pointed out, whether Ethereum truly manages to hit one of the above figures will depend on lots of factors, ranging from those closely related to the crypto asset itself to the more general conditions on the wider crypto and macro scene.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
