A topic as old as time, if time was a few years old – will Ethereum flip Bitcoin in terms of total market cap? Will ETH overtake BTC?
This has been the “to be or not to be” in the cryptocurrency industry, and it pins communities against each other like no other. It’s true that BTC has been the predominant market leader ever since it has been created, but a few years ago, who would have thought that another cryptocurrency would have a market cap worth over 40% of Bitcoin’s? Well, that’s the case for Ethereum today.
So, we decided to do what any sane person in 2023 would do – ask an AI language model what it (?) thinks. ChatGPT is all the rage in 2023, so who better to ask?
First things first, we prompted ChatGPT with this exact question: “Do you think Ethereum’s price can flip Bitcoin’s price in the next 5 years?”
The AI came back to us, explaining that this is an outcome that’s “uncertain and depends on various factors.”
- Adoption Rates
According to ChatGPT, Ethereum’s robust ecosystem and use cases, such as DeFi, NFTs, and whatnot, could help it flip Bitcoin.
Ethereum’s broader use cases, such as DeFi (Decentralized Finance), NFTs (Non-Fungible Tokens), and smart contracts, could potentially drive wider adoption and thus increase its value relative to Bitcoin.
Here’s where it got kind of interesting. You see, ChatGPT’s most recent knowledge cut-off on this topic was in September 2021. This means that it was before Ethereum transitioned to Proof-of-Stake.
That said, the second factor, according to the AI, is:
- Network Upgrades
ChatGPT argues that “the successful completion of Ethereum’s planned upgrades, such as Ethereum 2.0, could significantly affect its price. This upgrade plans to improve the scalability, security, and sustainability of Ethereum, which could increase its attractiveness to investors and users.”
Well, Ethereum’s transition to proof-of-stake, otherwise known as “The Merge,” is already a fact in our timeline, and so far, it hasn’t really helped it get there.
What Else Could Help ETH Flip BTC?
The flippening can also take place under a few more conditions, according to ChatGPT. Regulation, for once, is among the factors.
Changes in cryptocurrency regulation could impact prices. More restrictive regulations could lower prices, while more accommodating ones could raise them.
While it does sound like an answer from Captain Obvious, it is true. Favorable regulation could push ETH’s price, but so far, the US government has taken a predatory approach, calling many of the projects built on Ethereum securities.
Going forward, the AI believes that market sentiment is also important. If enough investors believe Ethereum to be the better form of investment, it would inevitably lead to the flippening.
Last but not least, the broader economic factors, including inflation, economic growth, and overall changes in the financial sector, could also have an impact.
In conclusion, ChatGPT took a more cautious position and didn’t provide a straightforward yes or no answer. This was somewhat expected, but it what arguments would an AI use to structure a response to a question of this kind.
Of course, none of the above should be construed as financial advice. The content is solely for educational and entertaining purposes, and we do hope you had fun with it.
The cryptocurrency market has seen immense growth in the last decade, with Bitcoin quickly becoming the de-facto leader of the industry. Ethereum, the second largest cryptocurrency by market capitalization, has been growing at a rapid pace, leading some to speculate that it can potentially surge above Bitcoin’s market cap within the next 5 years.
The potential of Ethereum to outpace Bitcoin in the near future has gotten the attention of many cryptocurrency followers. To find out if this is a possibility, we asked ChatGPT, an artificial intelligence-driven chatbot, what it thought. ChatGPT reported that the chances of Ethereum flipping Bitcoin within the next 5 years are quite high, given the technology’s capability of fast scalability and the upcoming release of Ethereum 2.0. This upgrade is expected to dramatically reduce transaction times and boost the network’s throughput to thousands of transactions per second. With this upgrade, Ethereum is likely to attract more users and developers and become one of the most popular cryptocurrencies on the market.
ChatGPT further predicts that the price of Ethereum could exceed the current market value of Bitcoin if its technological upgrades are successfully implemented. This could potentially lead to a shift in the market dynamics where Ethereum could become more popular and surpass Bitcoin in terms of market capitalization. Given its current development trajectory, Ethereum may even be able to provide the same level of functionality that Bitcoin does but with greater transaction speed and scalability.
The affordability of Ethereum when compared to Bitcoin, another factor that could contribute to Ethereum’s rise, could also play an important role in the success of Ethereum. The current cost of one Ethereum is much lower than that of a single Bitcoin, making it more attractive to potential investors. This could lead to a wider adoption of Ethereum, which could potentially push its price up and eventually bring it to par with Bitcoin.
All in all, it appears that Ethereum has the potential to overtake Bitcoin in the next 5 years. While nothing is set in stone, ChatGPT’s analysis paints an optimistic picture in which Ethereum plays an increasingly important role in the cryptocurrency space.