Disclaimer: CoinMarketCap cryptocurrency community price prediction is based solely on votes from its users. Estimates do not guarantee month-end prices.
As one of the toughest years for the cryptocurrency industry is about to end, crypto traders and investors are analyzing the movements of Bitcoin (BTC) to try and predict the near-future price action of the flagship decentralized finance (DeFi) token.
The crypto community has predicted the price of Bitcoin (BTC) for January 31, 2023!
With that in mind, the cryptocurrency community at CoinMarketCap is bullish on the price of Bitcoin for the end of the opening month of 2023, predicting that it will change hands on January 31, 2023 at an average price of $19,640.54.
If the community’s predictions, which are the result of 15,233 member games used according to the press, come true, the estimated price would represent an increase of +18.09% or +$3,008.75 compared to the price of the flagship digital asset at the time of publication.
Social Bitcoin price forecast for January 31, 2023. Source: CoinMarketCap
In terms of accuracy, the community’s previous predictions turned out to be pretty close to the actual Bitcoin price; The forecast accuracy was 84.22% for October and 79.88% for November.
Bitcoin price analysis and sentiment
Indeed, Bitcoin was trading at $16,631.81 at press time, a 0.61% drop on the day and a 0.32% drop compared to the previous seven days, whereas its monthly charts are mostly up 1.44%.
Bitcoin 1 month price chart. Source: Finbold
Disclaimer: The content on this site should not be considered as investment advice. Investment is speculative. When investing, your capital is at risk.
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