OpenAI’s text-based artificial intelligence (AI) platform ChatGPT has already gained worldwide recognition and popularity over its usability in multiple areas, including the cryptocurrency market, and providing insight into the future price of digital assets like Solana (SOL).
Taking this into account, Finbold asked the AI chatbot to provide the possible price range for Solana by 2030 based on the network’s development so far, its unique features, community strength, current market conditions, past performance, aggregated online information, and other factors.
After admitting it was challenging to provide a definitive answer on the future price of Solana or any other cryptocurrency with certainty, ChatGPT did provide reasons for the possible rally, including the “fast transaction speeds and low fees, which could make it an attractive option for developers and users alike.”
In terms of specific numbers, the AI tool provided possible Solana price ranges for both a bullish and a bearish scenario, with the most optimistic case projecting SOL at $1,000 or more by 2030:
“Bullish scenario: Some analysts believe that SOL has a strong potential for growth in the coming years due to its unique features, including its high speed, low fees, and strong development team. They predict that SOL could reach as high as $1,000 or more by 2030 if it continues to gain adoption and improves its technology.”
On the other hand, if bears are proven to be correct, ChatGPT stated that Solana could expect only a modest increase (but an increase nonetheless) of around $50 to $100 in the next seven years, citing market circumstances and competition:
“Bearish scenario: Others believe that the current market conditions and increased competition in the crypto space could limit SOL’s growth potential. In this scenario, SOL could trade within a range of $50 to $100 by 2030, based on historical price movements and market trends.”
As things stand, Solana is currently trading at the price of $22.57, which represents a decline of 5.06% on its daily chart, as the digital asset is still holding on to its 10.42% gain over the previous seven days and tries to offset the 1.37% drop across the last month, as per data retrieved on February 17.
Meanwhile, the realization of either of the two possible scenarios offered by ChatGPT would depend on the wider crypto and macroeconomic atmosphere, as well as the developments surrounding its ecosystem, such as the launch of a new tool to prevent scams on the Solana-supported Phantom wallet.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Best Crypto Exchange for Intermediate Traders and Investors
Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.
0% commission on stocks – buy in bulk or just a fraction from as little as $10.
Copy top-performing traders in real time, automatically.
Regulated by financial authorities including FCA and FINRA.
Copyright © 2023 FINODES LLC. All rights reserved. Use of this site constitutes acceptance of our Terms of Service.
WARNING: The content on this site should not be considered investment advice. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site.