- November 22, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Intelligent Alpha Predicts Bitcoin Surge to $140K Amid AI-Driven Insights appeared first on Coinpedia Fintech News
Intelligent Alpha, which builds AI-powered investment strategies for visionary investors, in an interview with Coindesk, has shared that they have started experimenting with bitcoin. The objective is for AI to set useful targets to trade the world’s top cryptocurrency.
AI Predicts Bitcoin To $140,000
The firm relies on a trio of AIs: ChatGPT, Claude, and Gemini, and implements their decisions, even if they sound counter-intuitive. Notably, the models have a great track record so far.
While the firm has focused on traditional finance so far and mostly kept away from crypto, Doug Clinton, the CEO noted that he started experimenting with bitcoin specifically in the last five months. The objective was for the AI to set useful targets to trade the world’s top cryptocurrency.
“In the bull case, which was a Trump win and a more favorable regulatory environment, AI saw that bitcoin could maybe go to $140,000,” Clinton said. “Maybe that’s the scenario we’re working toward right now.”
How it works?
A lot of firms use AI to enhance human processes, to help analysts process data and think in different ways. But Clinton’s method is to give responsibility to the AI trio, and stay out of its way as much as possible when it comes to investment decisions. While Clinton has tested other AIs such as Grok or Lama AI, he noted that keeping the investment committee down to three AIs has proved to be the most efficient set-up.
Clinton praised AI’s ability to predict future events, citing its successful bets on Asian stocks and chipmaker Nvidia. While not every bet has been a slam dunk, the mistakes have been on the margin, he noted. The AI has a good track record on macro events, as it also predicted that Trump would be re-elected.
Limited Focus On Crypto!
Intelligent Alpha’s focus on crypto is limited due to the lack of data. However, the crypto community’s reliance on X suggests Grok could potentially play a role in Intelligent Alpha’s triumvirate for crypto purposes. Clinton suggests exploring unique ways to use AI to identify breakout crypto projects, as it could stand out in the crypto community.
“The question that we’re exploring here is, what can we do with AI that would maybe be unique and different and stand out a little bit,” Clinton said. “To find a unique way to use AI to identify breakout crypto projects, that would be a really cool way to use the tech.”