• ChatGPT is an AI chatbot that can be used to write poems, make jokes, and write cover letters.
• The bot is not capable of generating financial advice, such as price predictions, or performing web searches.
• However, ChatGPT is able to provide snippets of Pine Script code to help traders with technical analysis on TradingView.
The internet was taken by storm by the chatbot ChatGPT in December 2022. This unique and innovative AI chatbot has been a game-changer, completely revolutionizing the way people communicate online. It can be used to write poems, make jokes, and write cover letters, and has even been prevalently used in academia. So much so that ChatGPT got banned from New York City’s public school devices as it could inspire cheating.
Although the bot has capabilities far beyond what most people are used to, there are still some technical limitations that restrict its use. ChatGPT is not capable of generating financial advice, such as price predictions, or performing web searches. Therefore, it cannot provide its users with accurate price predictions for a coin like Shiba Inu. However, ChatGPT is able to provide snippets of Pine Script code to help traders with technical analysis on TradingView.
For the most part, ChatGPT is not a finance expert nor a trading guru, but it can churn out code. Technical analysis on TradingView uses the Pine Script language, which the bot can employ to provide code for traders. The bot is also extremely stubborn- it adamantly refuses to even take a stab at predicting what the price of any crypto asset could be in the future. All the while it does a great job of reminding the user to do their own research before investing and to carefully manage the risks taken.
ChatGPT has revolutionized the way people communicate and interact online. While it has its limitations, it can still be used to enhance ideas, particularly with respect to trading strategies and technical analysis.