The cryptocurrency market is consolidating last week’s gains with Bitcoin (BTC), the largest decentralized finance (DeFi) asset by market cap, and crypto traders and investors are looking for indicators that can provide insight into future price movements.
Artificial intelligence predicts Bitcoin price for the end of 2023!
In this context, predictions made using machine learning technology on the finance forecasting platform CoinPriceForecast indicate a significant increase in Bitcoin price by the end of 2023, according to data obtained by Finbold on February 21.
Coincidentally, Bitcoin started 2023 trading at $16,522, meaning its price has increased by 49% since the beginning of the year. In terms of the predicted price of artificial intelligence (AI) for the end of this year, it currently stands at $33,047, a 34% increase from its price at the time of writing.
Bitcoin 2023 price target. Source: CoinPriceForecast
Meanwhile, if these machine-based predictions turn out to be correct, the year-to-year change in Bitcoin price will increase by 100%, followed by more price increases in the years to follow, as the latest AI data shows.
Bitcoin price analysis
According to the press, Bitcoin was changing hands at $24,678, down 0.7% in the last 24 hours, but it has recorded more significant gains of 13.08% in the last seven days and is up 8.3% on its monthly chart. Information received on February 21.
Bitcoin 30 day price chart. Source: Finbold
Whether the above predictions for year-end will come true will depend on developments in the broader macro landscape and developments with Bitcoin itself, such as transaction count momentum reaching its highest in more than two years and historical models suggesting a bullish rally. Over the next three years, as Finbold previously reported.
Disclaimer: The content on this site should not be considered as investment advice. Investment is speculative. When investing, your capital is at risk.
Source link
