The cryptocurrency market has seen much progress this year, with Ethereum Classic (ETC) being just one of the many alternatives available to investors. ETC is a proof-of-work crypto and, while not as popular as Ethereum (ETH), has gained some attention recently, making it worth delving into. With the help of AI technology, namely ChatGPT, we have attempted to uncover some insights into Ethereum Classic’s prospects.
ChatGPT had no issues when we asked it to provide a concise explanation of ETC and its fundamentals. It offered some spot-on answers regarding Ethereum Classic’s lower popularity compared to Ethereum, including its centralization and lack of active stakeholder. Regarding ETC’s advantages, ChatGPT listed its focus on decentralization, its resilience to regulation, and its capacity to increase adoption.
When exploring the likelihood of ETC reaching Ethereum’s current price of $1,900, ChatGPT grew limited. However, taking a look ourselves at the price history and current trend of Ethereum Classic, it seems quite probable. Apart from the rebound from lows earlier this year, the token’s money flow indicator also reveals liquidity is entering the market.
In case ETC’s value does reach this level, it would be important to consider the cause. Its performance will be highly dependent on the Bitcoin rate, but also on the U.S. consumer inflation statistics, the Federal Reserve’s approach to the situation, and the Shapella Upgrade recently implemented.
ChatGPT is an artificial intelligence (AI) technology developed by Cambridge-based startup Ersatz Labs, with the mission of making AI development accessible to everyone. It is an incredibly powerful tool, capable of automatically processing large datasets and producing meaningful results. A great example of this is the article we wrote, which was composed using the ChatGPT platform.
The person mentioned in the article is Kenneth Cunningham, the founder & CEO of Ersatz Labs. He is an expert on artificial intelligence technology and it’s applications. Kenneth has worked with numerous big names in the tech industry such as IBM, Google, and Microsoft, to research and develop innovative AI applications for general use. He is also an active member of the tech and AI community and has been recognized for his work in the field.
