ChatGPT, an artificial intelligence-based system, based on historical data and current events in the cryptoasset market, presented a forecast according to which the price of Polkadot (DOT) could reach $150 by the end of 2023 and $250 by the end of 2024.
At the same time, the results of the Polkadot Decoded conference, which took place in Copenhagen on June 28 and 29, were taken into account. At the event, Polkadot Founder Gavin Wood unveiled a new roadmap for the project, according to which among the changes in the Polkadot architecture, a transition from the current leasing model to a time selling model is expected.
“Overall, the Polkadot ecosystem is designed to drive innovation and collaboration across different blockchains. It provides developers with a flexible and scalable platform to build a wide range of decentralized applications,” the ChatGPT rationale states.
In the comments to the forecast, it is noted that, as of the end of the first quarter of 2023, more than 40 parachains have won new auction places on Polkadot. The ecosystem continues to expand as new parachain developments emerge, which should drive demand and increase pressure on the cost of DOT.
However, experts noted that the ChatGPT system is imperfect and can only be used conditionally to predict the prices of cryptoassets. Some of the results obtained turned out to be inaccurate or false, with large deviations from the real price data collected from TradingView. In particular, the ChatGPT forecast did not take into account that over the past year the asset has been trading along a downward curve, which indicates that Polkadot bulls and investors are gradually leaving the market.
Earlier, cryptocurrency blogger and CNBC analyst Ran Neuner said that not all altcoins will be able to survive the next bearish trend in the cryptocurrency market, but DOT has a chance.
Source: Bits
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