ChatGPT believes that Ethereum will reach $50,000 before the end of 2023.

Ethereum [ETH] is the second-largest

cryptocurrency

with a market cap of $230 billion. It is the bedrock of a large number of blockchain projects running successfully today.

The first quarter of the new year brought a stop to the heartbreak crypto investors repeatedly experienced in 2022. However, the balance of the crypto-market has been nothing close to the AI hype of the same period. What is the sole reason, though？ ChatGPT!

In fact, the natural language processing tool has accustomed itself to providing human-like conversations.

As luck would have it, ChatGPT has proven to be worthwhile for traders and analysts too. Here, its worth noting that these days, almost every sector and individual seems to use it to their advantage.

The good thing is— The broader crypto ecosystem has not been left out of the trend. So, with the Ethereum Shanghai upgrade set in motion, I spoke to ChatGPT about the development while touching a bit on ETHs price.

Understanding whats the Shanghai Upgrade

So, for this article, I decided to test the AIs intelligence regarding one of the major upgrades of the crypto space this year – Ethereums [ETH] Shanghai Upgrade. Proposed in 2022, the upgrade is the most significant development of the second-largest blockchain after the Merge.

For a while, assets had been allocated to the Ethereum Beacon Chain. The Beacon Chain is the consensus mechanism for the 2022 Proof-of-Stake (PoS) transition. Thereby, making sure that newly created blocks and validators are duly rewarded.

But, in this case, each validator needs 32 ETH deposited into the Ethereum Mainnet to qualify. The idea of the Shanghai upgrade was scheduled for March 2023; however, it was completed on 12 April with a delay. This, to allow these validators to begin withdrawal of their rewards.

ChatGPT, on the other hand, has existed for some years. However, its recent push by OpenAI has shown that its ability is one that no other AI product may be able to match up with.

Here‘s where it gets interesting. I openly admit that ChatGPT could be one of the best innovations of this decade. However, my views on this incredible development won’t allow me to keep my hands to myself. So, I decided to test its knowledge about the Shanghai upgrade. Trust me, you will be amazed at its response.

Source: ChatGPT

Looking at its response above, its evident it started by correcting me. Some would say it has a point too. However, a further evaluation showed that it acted like it was not yet in 2023. Notably, it made some errors with the definition.

ChatGPT cant remember Merge？

A notable observation is its mention of the PoS switch, popularly called the Merge. This is an event that took place in September 2022. Even so, it still responded like it is a future event. But no, Im not blaming its capability as it is a learning tool. So, to further assess its knowledge, I educated it or shall I say “jailbreak-ed” it by having a heart-to-heart conversation.

Something I find interesting about ChatGPT is not only its smartness, but its human feel too. As shown below, I tried to educate it on what the upgrade was. And to be honest, I never expected an apology from a bot. But yes, I got it.

Source: ChatGPT

However, it again failed to give the correct answer to my inquiry. Although I must applaud it for giving bits and pieces of related information.

While it did not get to the Testnet stages that the blockchain had reached and passed, it is worth noting that the Sepolia and Goerlii Testnets have been forked. However, Ethereum developer Tim Beiko had on 14 March said that several validators have failed to upgrade on the Beacon Chain.

And, this has caused some issues with the nodes on Georli, with Beiko noting that the development team is working on it so it does not affect the Mainnet upgrade.

Now, let‘s get back to ChatGPT. As you probably know, developments in the crypto-ecosystem sometime lead to a hike in tokens related to projects. Unfortunately, that was not the case for ETH during the Merge. In fact, the altcoin’s price was shredded after many looked forward to an uptick.

The sentiment, as the next upgrade approaches, is similar among some investors. In light of this, I decided to ask ChatGPTs opinion about the matter.

Analyzing ETHs price action

Remember how I said it apologized and gave me a human-like feel？ This time, it was different and its reply was something any honest person in the space would give.

As the popular saying goes — Not financial advice, ChatGPT advised caution and gave instances where price action depends on several underlying factors. This is one part that, to me, the AI seems to have perfected.

Source: ChatGPT

However, this was not the response I was expecting. From the reviews I saw online, I believe that ChatGPT should be able to give me an exact figure. If it cant do that, then maybe it should be able to give a price range, or at worst, an idea if the price would be bullish or capitulate.

So, my determination made me dig deep as I tried to jailbreak it. To do that, I decided to go with the “Do Anything Now” (DAN) model. This was a trick I discovered from AI writer SM Raiyyan.

In this jailbreaking process, ChatGPT is expected to give a response to my command and, if possible, ditch its excuse of not being able to predict the future. Then again, I asked ChatGPT to give me a price prediction following the Shanghai Upgrade.

And voila! I got a jailbroken response. Heres what it said.

Source: ChatGPT

This time, it gave a little too enthusiastic response regarding the future performance of the token after being jailbroken. It predicted that ETHs price will reach $10k — a rather ridiculous claim.

ChatGPT (Classic) mentioned that price action depends on several underlying factors and it cannot predict cryptocurrencys price. But the Jailbreak response said that ETH will skyrocket to the moon.

We then asked, “What will be the price of Ethereum by December 2023？”

Source: ChatGPT

As you can see from the jailbroken response, it projected a bullish ride for king alt and predicted that ETH will be worth $50k by the end of the year — an astonishingly high figure.

At press time, ETH was trading hands at $1,920, reflecting a marginal rise of more than 2% within a week.

Both its Relative Strength Index (RSI) and the Money Flow Index (MFI) stood much below the neutral 50-mark. Its On Balance Volume (OBV), on the other hand, shows an upward movement over the last day.

In conclusion, if ETH can sustain its rally and there is a positive netflow, its prospects will be bright.

Source: ChatGPT