The cryptocurrency market has seen a steady rise in sentiment towards the end of 2023. Bitcoin (BTC) has surged by over 150% since January, while the global crypto market cap has risen above $1.6 trillion. With the holiday season almost here, analysts anticipate a “Santa” rally in the last week of this year. What does ChatGPT think of the current cryptocurrency market?
Also Read: Top 3 Cryptocurrencies That May Hit All-Time Highs in 2024
ChatGPT, the popular AI (Artificial Intelligence) chatbot by OpenAI, has chosen the three best cryptocurrencies to watch this Christmas.
Top 3 cryptocurrencies to watch this Christmas
XRP:
Since January 2023, XRP has surged by over 86%. The popular token’s growth in 2023 was likely due to a court ruling that Ripple’s sale of XRP to retail clients did not breach securities law. However, XRP’s status remains uncertain as the lawsuit has entered a higher court in the US.
Also Read: Ripple XRP Could Rally 90%, Hit $1.20 By 2023 End: Says Analyst
According to ChatGPT, legal developments will determine the cryptocurrency’s performance, and a Ripple-sided verdict may boost investor confidence. The AI chatbot also highlights the growing institutional interest in XRP, which could further help the token’s price.
Shiba Inu (SHIB):
ChatGPT predicts that SHIB’s performance in December could be challenging. The token has struggled to remove a zero after its decimal, which it gained in August. However, there has been a surge in transactions on Shibarium, and the team is undertaking a massive burn this week. The developments could push the cryptocurrency’s price north. ChatGPT warns that regulatory concerns and increased competition could hamper the memecoin’s growth in December 2023.
Everlodge (ELDG):
According to ChatGPT, ELDG has a lot of growth potential. However, the token’s performance will depend on four factors. These four factors are mass adoption, partnerships, press coverage, and general market growth. If the project can check mark all four points, ELDG could also see increased growth in 2024.