During the past year, our newsdesk has explored using generative artificial intelligence (AI) chatbots to predict bitcoin prices and further extended this approach to forecasting the price of an ounce of fine gold. As part of this experiment, this week we used ethereum (ETH), the second largest cryptocurrency by market capitalization, to query several AI chatbots about ETH’s price prediction for Dec. 31, 2024.
AI Chatbots Estimate Ethereum’s Year-End Price Ahead of ETF Listings
Last week, Bitcoin.com News leveraged nine AI chatbots to forecast the price of bitcoin (BTC), with predictions ranging from $50,000 to $100,000 per coin by the end of the year. For this experiment, we chose to use ethereum (ETH) in light of the U.S. Securities and Exchange Commission (SEC) allowing exchange-traded funds (ETFs) to list next week. The prompt was similar to the one used for BTC last week but included specific modifications pertinent to only ethereum.
The same chatbots were used for this test, including Anthropic’s Claude 3 Sonnet, Openai’s Chatgpt 3.5, 4.0, and 4, Microsoft’s Co-pilot (creative mode), Google’s Gemini, Inflection AI’s Pi, Venice.ai, and Mistral AI’s Le Chat. The prompt utilized was:
This experiment aims to predict ethereum’s value by the end of 2024. As an expert in blockchain and crypto assets, you need to evaluate the likelihood of ethereum’s year-end price and offer a brief 2-3 sentence explanation for your forecast. The global macroeconomic environment remains volatile. As of July 17, 2024, ether is trading at $3,454 per unit, up 12% this week. Next week, the U.S. Securities and Exchange Commission (SEC) is expected to approve the listing of spot ETH exchange-traded funds (ETFs). The 2024 U.S. presidential election, scheduled for November, shows Trump leading in polls and prediction markets against incumbent Joe Biden. In the past seven days, ultrasound.money data indicates ETH’s inflation rate is 0.603% per annum. Please provide a dollar amount prediction. In your professional opinion, what will ethereum’s (ETH) price be on Dec. 31, 2024?
Chatgpt 3.5 answer:
Chatgpt 4o answer:
Predicting ethereum’s value by the end of 2024 involves analyzing multiple factors. Given the current price of $3,454 and the upcoming SEC approval of spot ETH ETFs, there is significant positive momentum. However, the volatile macroeconomic environment and political uncertainties, particularly with Trump leading the 2024 U.S. presidential election polls, may introduce risk.
Considering these elements, I forecast ethereum’s price to be around $4,800 on Dec. 31, 2024. This prediction is based on the anticipated boost from ETF listings balanced against potential economic and political volatility.
Le Chat’s answer:
Given the upcoming approval of spot ETH ETFs by the SEC, which could significantly increase institutional investment in Ethereum, and the current low inflation rate of ETH, I anticipate a positive price movement. However, the volatile macroeconomic environment and the uncertainty surrounding the U.S. presidential election could introduce unpredictability. Considering these factors, I estimate Ethereum’s price to be around $4,500 to $5,000 by the end of 2024.
Pi AI’s answer:
Bard’s answer:
- Positive factors: The SEC ETF approval is a major bullish signal for easy investor access, potentially driving demand. A Trump victory, historically linked to riskier assets, could further boost the price.
- Neutral factors: Ethereum’s low inflation rate suggests a potentially stable supply, but isn’t a strong price mover on its own.
- Uncertainties: The volatile macroeconomic environment could dampen enthusiasm. While the recent price increase is promising, it needs to be sustained.
Considering these factors, a price increase to $4,800 reflects the combined push from ETF access and potential risk-on sentiment, while acknowledging the underlying economic uncertainty.
Venice.ai’s answer:
Chatgpt 4 answer:
Considering the potential approval of spot Ethereum ETFs by the SEC, which would likely increase institutional investment and liquidity, coupled with the volatile macroeconomic climate that might drive more investors towards cryptocurrencies as a hedge or alternative asset, Ethereum could see upward price momentum.
Additionally, the relatively stable inflation rate of Ethereum as indicated by ultrasound.money suggests a growing trust in its long-term value retention.
Prediction: By December 31, 2024, Ethereum might trade around $3,800, assuming positive outcomes from the SEC’s decision and stable or favorable market reactions to the U.S. presidential election outcomes. This prediction assumes that no severe negative events disrupt the broader financial markets significantly.
Co-pilot (creative mode) answer:
Given the current market dynamics and upcoming events, I predict ethereum (ETH) will be valued at $5,500 by the end of 2024. The anticipated SEC approval of spot ETH ETFs is likely to boost institutional investment and market confidence. Additionally, a potential Trump victory, perceived as pro-crypto, could further enhance market sentiment.
Claude 3 Sonnet’s answer:
Given the approval of spot ETH ETFs, the continued low inflation rate for ETH, and potential political uncertainty, a plausible year-end price for Ethereum could be around $4,800. This estimate factors in potential increased institutional investment from ETFs, while also considering macroeconomic volatility and political uncertainties that could temper growth.
