AI-related crypto returns rose up to 41% after ChatGPT launched: Study

According to the researchers:”The ChatGPT launch had a substantial effect on the performance of AI-related crypto-assets, regardless of the general cryptocurrency market being in a bearish state and risk-averse financier hungers. Source: Saggu and Ante, 2023: “The influence of ChatGPT on synthetic intelligence related crypto assets: Evidence from a synthetic control analysis”While 10.7% and 35.5% represented the flooring for cost increases over one- and two-month periods, the ceiling increased to 15.6% and 41.3%, respectively.The research points out media and marketing buzz and public sentiment as factors in the rise, concluding that “investors perceived AI-related crypto properties as having increased possible or value after the launch. The scientists also hypothesize that ChatGPTs capabilities as an academic tool might have “promoted info diffusion effects within the cryptocurrency market by equipping retail investors with the capability to distill complex and technical ideas, therefore assisting in more educated investment choices”Related: Elliptic incorporates ChatGPT to bolster crypto danger detectionCryptocurrency assets unrelated to AI continued a sideways trend during the same period, capping off a depression that began in the second quarter of 2022.

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