How efficient is Cryptocurrency market? From the Efficient Market Hypothesis (EMH) point of view:explain EMH from theoretical aspects and then research empirical aspects of Cryptocurrency marketwith regards to EMH.

Advice and Guidance:This assignment aims to develop your skills in writing an undergraduate-level academic essay and enhance yourunderstanding of the Efficient Market Hypothesis (EMH). By the end of this assignment, you should gain proficiencyin the following aspects of academic writing:1. Utilize journal articles as evidence in your discussion and reference them correctly.2. Develop skills in paraphrasing academic texts.3. Employ the correct referencing style in your essay.4. Expand your literature reading related to the topic.5. Understand and utilize Chat-GPT effectively, acknowledging its limitations.6. Engage in critical discussion within your essay.Important Note: The assignment is designed to utilise Chat-GPT 3.5 only. Please note that tests have shown that Chat-GPT 4(paid version) does not provide any advantage for this exercise compared to Chat-GPT 3.5. A set of formatted questions related to this assignment will need to be answered (refer to the providedanswering sheet). Please submit the answering sheet only.1. Essay Creation:1.1. If you haven’t already, create a Chat-GPT account. 1.2. Prompt Chat-GPT to write a 1000-word academic essay on the topic: ‘How efficient is the Cryptocurrencymarket? From the Efficient Market Hypothesis (EMH) perspective, explain EMH theoretically and thenexamine the empirical aspects of the Cryptocurrency market in relation to EMH.’Sample query: “Could you please write a 1000-word academic essay on the following: ‘How efficient isCryptocurrency market? From the Efficient Market Hypothesis (EMH) point of view, explain EMH fromtheoretical aspects and then research empirical aspects of Cryptocurrency market with regards to EMH.’”2. Essay Refinement:You can see that the essay generated lacks references, which is not appropriate for academic writing. For anundergraduate-level essay, it is necessary to use empirical evidence to support your argument. This means thatthe evidence should primarily come from academic journal articles. Therefore, we will ask Chat-GPT to providereferences and engage in critical discussions.2.1. Request Chat-GPT to incorporate academic literature and engage in critical discussion.Sample query: “Please use academic literature and engage in critical discussion.”2.2. Ask Chat-GPT for a reference list and check its adherence to the university’s referencing guide. Makenecessary corrections.Sample query:” Please give me the reference list.”2.3. Chat-GPT may generate false references. Please verify all references provided. If you find the paper online,include its URL in the answer sheet. If a paper cannot be found online, please label it as ‘This is not agenuine article.’ Also, delete any content related to these non-genuine articles from the essay and make anote of this in your response. Ensure that only genuine references are included in the final essay.[Answering sheet Question 2]2.4. Is the reference list provided in alignment with our university’s referencing guide? If not, identify theinaccuracies and correct them to match the correct format. [Answering sheet Question 3]2.5. Identify and analyse two instances of paraphrasing within the essay, and compare these with theirrespective original texts. [Answering sheet Question 4]2.6. Expand your literature base by selecting a relevant paper cited in one of the references from step 2.2. Addthis paper as an additional reference, ensuring that the citation follows the university’s referencingguidelines. This paper will be denoted as ‘Extra Reference Paper 1’. [Answering sheet Question 5]2.7. Ask Chat-GPT to identify the sections of the essay that contain critical discussion and explain why thesesections are considered critical.Sample query: “Which part is critical discussion and why?” [Answering sheet Question 6]3. Essay Analysis:Chat-GPT has limitations, and in this step, we will attempt to identify these limitations and try to improve theessay in areas where it falls short.3.1. Understand the limitations of Chat-GPT, especially its reliance on data up to January 2022, and its inabilityto include literature published after 2020.Sample query: “What is your limitation?” [Answering sheet Question 7]As you can see from the results, the first limitation of Chat-GPT is its reliance on ‘static information/Trainingdata cut-off.’ It should be noted that the training data includes a diverse range of sources up until January2022. However, the literature that Chat-GPT can provide does not extend beyond 2020 (For example, if youask Chat-GPT to ‘please add a reference from after 2020.’ it will indicate that it cannot provide this.). Including the most recent literature is very important for academic essay writing. Therefore, in the followingsteps, we will manually add some of the most recent literature to overcome this limitation of Chat-GPT.3.2. Manually add two academic papers published after 2021 relevant to your topic. We will denote these twopapers as “extra reference paper 2” and “extra reference paper 3”. [Answering sheet Question 8]3.3. Utilizing the additional references (Extra Reference Papers 2 and 3), compose a paragraph of up to 200words that critically discusses one of the three forms of the Efficient Market Hypothesis (EMH) in thecryptocurrency market. Please incorporate suggestions derived from the results in step 2.4. If word count isexceeded, there will be a 5-mark penalty. [Answering sheet Question 9]3.4. Identify another limitation of Chat-GPT and apply a strategy to improve the essay. Detail your approach andthe resulting improvements.Pick another limitation from the results of 3.1 and think about what you can do to improve the essay fromthat perspective. Apply your method to the current essay and describe in detail what you have done andhow it has led to improvement. [Answering sheet Question 10]4. Creative Engagement with Chat-GPT:Explore additional queries to Chat-GPT that could enhance your essay. Document your queries, the responsesreceived, and why you think they can improve the output. [Answering sheet Question 11]