Many believe that recent events have finally put "crypto winter" in the bin, and with the New Year just around the corner, Finbold decided to ask OpenAI's artificial intelligence (AI) brainchild, ChatGPT, which cryptocurrencies it would recommend to those with experience. traders.
AI appeared to remain balanced in its analysis, suggesting cryptocurrencies with a strong track record.
Bitcoin (BTC)
ChatGPT's first choice for 2024 is the world's leading cryptocurrency, Bitcoin (BTC). This is not surprising since Bitcoin is not only what the AI says is the cornerstone of the market, but it has also performed well during the latest bull run.
In addition to the fairly favorable sentiment for BTC, the cryptocurrency is set to halve in the first half of 2024, which ChatGPT noted has historically led to significant price hikes.
Ethereum (ETH)
Ethereum is another major cryptocurrency whose price soared in the final months of 2023 to highs not seen in over a year. Additionally, many experts such as Ali Martinez believe that it could rise to $3,500 in the not-too-distant future, judging by X's recent post.
According to ChatGPT analysis, Ethereum is at the forefront of blockchain innovation and plays a key role in the cryptocurrency market due to its widespread use in the decentralized finance (DeFI) and non-flammable token (NFT) sectors.
Binance Coin (BNB)
BNB is one of the few major tokens not to reach impressive highs in 2023. Its inconsistent performance is largely due to unfavorable regulatory developments. Its price fell in June when the US Securities and Exchange Commission (SEC) announced its lawsuit against cryptocurrency exchange Binance.
Another blow came in late November when the US government announced it had reached an agreement in which Binance would plead guilty to a number of violations and pay a fine of about $4 billion, and Changpeng Zhao - its longtime CEO - would step down, also admitting guilty and pay a fine.
Despite these events, BNB has historically performed well, and ChatGPT concluded that its widespread adoption and use outside of Binance itself is a strong argument that will grow significantly in the future.
Cardano (ADA)
Rising over 100% since January 1, 2023 to highs not seen since May 2022, Cardano (ADA) has had a very strong year, and ChatGPT believes 2024 will be just as strong for the cryptocurrency.
In its analysis, AI specifically emphasizes that ADA is focused on sustainability, incremental growth with an emphasis on security and scalability, and a “scientific philosophy” in its design. ChatGPT also pointed to Cardano's Alonzo hard fork as an example of ADA's overall strength and suggested it could serve as a driver for future adoption and growth.
Solana (SUN)
Solana has certainly attracted a lot of attention throughout the year due to its continued and impressive resilience and growth of almost 800% since January 1, 2023. Its recent rise above $80 has even caused many investors to wonder if the cryptocurrency will soon rise above $100.
ChatGPT views the company as a strong pick due to the fact that it has overcome previous technical difficulties, and points to Solana's high throughput and low fees as some of the biggest reasons for its past success and likely future results.
Indeed, Solana is positioned for a strong 2024, and recently even entered the top five leaders of the cryptocurrency market.
