Today, I noticed the crypto market was experiencing a significant dip, with Bitcoin down by over 5%. Curious about the cause, I searched for the main causes.
From what I gathered, the market decline seems to be tied to a broader risk-off sentiment in global markets, driven by macroeconomic uncertainties and a sell-off in tech-heavy sectors like the Nasdaq. Interestingly, the rise of DeepSeek, a China-based AI app, has also been cited as a contributing factor. Its growing popularity has raised concerns about competition for U.S. tech giants, which has indirectly impacted investor confidence in crypto.
What is DeepSeek and how good is it?
Long story short, DeepSeek is the Chinese competitor of ChatGPT... Developed for a tiny fraction of ChatGPT total cost... I break it down for you in the video below 👇
https://youtube.com/shorts/QPHU1ANfMZ4?si=JUFNTq6SFpVJwSey
However, it does not say how good it is. So, I decided to try it myself and used it to understand better the market dynamics.
Using DeepSeek for web search was efficient and straightforward. It delivered concise and relevant results, helping me understand the market dynamics in just a few minutes. However, I’m still exploring its full capabilities. For example, I haven’t yet tested its ability to analyze attached documents, a feature where ChatGPT has proven particularly strong.
While DeepSeek’s web search functionality worked well for this task, I plan to test more of its features, such as document analysis and data interpretation, to see how it compares to other AI tools. For now, it’s clear that DeepSeek is a powerful tool for quick information retrieval, but I’ll need more time to evaluate its performance across different use cases.
If you’ve used DeepSeek for tasks like document analysis or data processing, I’d love to hear your thoughts. How does it compare to other AI tools you’ve tried? Let me know in the comments!
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Disclaimer: This is not financial advice. Always conduct your own research before making investment decisions.
