When prompted to give Terra Classic price targets for the end of 2024, one of OpenAI’s most advanced models, ChatGPT-4o, outlined a series of bullish and bearish factors at play. The AI model also set two price targets — one is contingent on the bullish factors being dominant, while the other is based upon more bearish developments.
On the bullish side of the aisle, GPT-4o noted the efforts to reduce LUNC’s circulating supply, as well as the ecosystem’s active community, highlighting the recent launch of decentralized exchange Terraport. In addition, the model also noted positive market sentiment and analyst estimates.
Unsurprisingly, the bearish arguments were just as, if not more convincing. Terra Classic’s history of sharp price swings was the first factor that GPT-4o noted. It also opined that the reputational damage caused by Terraform Labs’ founder Do Kwon would serve to deter potential institutional investors, while also drawing increased scrutiny from regulatory bodies.
In addition, the network’s staking and minting mechanisms were highlighted as potential risk factors — as they could hypothetically reintroduce the inflationary pressures that had wreaked such havoc on LUNC and LUNA in the first place.
