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ChatGPT-4o Claims Cryptocurrencies May Reach This Level Due to Global Computer Outage
Following one of the world’s largest computer outages, cryptocurrency market is poised for significant growth, according to forecasts from ChatGPT-4oadvanced artificial intelligence (AI) language model.
The unprecedented disruption caused by a CrowdStrike software update to Microsoft’s operating system may have sparked a renewed interest in decentralized applications. financial systems. CrowdStrike (NASDAQ: CRWD) action fell nearly 15% in pre-market trading on July 19, as reported by Finbold.
Global IT chaos could trigger cryptocurrency surge
On July 19, 2024, the world witnessed what experts are calling the “biggest IT outage of all time.” Major banks, media outlets, airports, and airlines around the world suffered severe disruptions. Additionally, rail services in parts of the United States and the United Kingdom were impacted, while payment systems in Australia and the United Kingdom faced significant challenges.
The outage also impacted 911 services in several US states, including Alaska, Arizona, Indiana, Minnesota, New Hampshire and Ohio. The London Stock Exchange also reported service disruptions and Sky News temporarily ceased broadcasting.
CrowdStrike’s CEO, however, assured the public that the issue was not caused by a cyberattack. He said: “The issue has been identified, isolated and a fix has been deployed.”
Cryptocurrency Market Cap Expected to Skyrocket
In light of these events, ChatGPT-4o predicts a substantial increase in the total cryptocurrency market capitalization. Currently, TradingView’s CRYPTOCAP:TOTAL index stands at $2.294 trillion, slightly above the 50-day average. exponential moving average.
Total Cryptocurrency Market Cap, Daily Chart. Source: TradingView / Finbold
The AI model suggests that the market capitalization could reach between $2.5 trillion and $2.7 trillion in the coming days or weeks. This prediction is based on the assumption that investors will seek more robust and decentralized financial systems in response to the global IT outage.
Bitcoin and Ethereum should benefit
ChatGPT-4o also provided price predictions for the two largest cryptocurrencies by market capitalization: Bitcoin (Bitcoin) and Ethereum (ETH). Currently, BTC is trading at $64,905, with a market dominance of 55.1%.
The AI model predicts that Bitcoin could test the $68,000-$72,000 range in the near term. This projection is based on Bitcoin’s perceived value as “digital gold” in times of uncertainty.
Meanwhile, Ethereum, which is currently priced at $3,408 and has a market dominance of 17.85%, is likely to benefit from increased attention on decentralized systems. ChatGPT-4o suggests that ETH could potentially reach the $3,700-$4,000 range in the near future.
Decentralization as a solution
The recent global computer outage has highlighted the vulnerabilities of centralized systems. Therefore, cryptocurrencies, being decentralized in nature, could attract the attention of investors as a potential solution to these problems.
ChatGPT-4o highlights that the decentralized nature of cryptocurrencies could provide a more resilient alternative to traditional financial systems during disruptions of this magnitude. This factor should drive increased adoption and investment in the coming weeks.
While the forecast paints a bullish picture for the cryptocurrency market, ChatGPT-4o advises investors to remain cautious. The AI model emphasizes the importance of staying informed about global events and specific market movements to make informed investment decisions.
As the world continues to deal with the aftermath of the global IT outage, all eyes will be on the cryptocurrency market to see if these predictions come true.
Disclaimer: The content of this site should not be considered investment advice. Investing is a speculative activity. When you invest, your capital is at risk.