As the cryptocurrency market posted significant gains over the past week, crypto traders and investors are trying to gauge where the price of its representative asset – Bitcoin (BTC) – could be headed by the start of the third month of 2023, based on the available data, including predictions by machine learning algorithms.
In this regard, Finbold consulted the machine learning algorithms on the cryptocurrency tracking platform price predictionsand at press time, they predicted that the price of Bitcoin would be $24,934 on March 1, 2023 according to information retrieved on February 20.
Bitcoin 30 day price prediction. Source: price predictions
In fact, by implementing various technical analysis (TA) indicators, including moving averages (MA), moving averages, convergence-divergence (MACD), relative strength index (RSI), Bollinger bands (BB) and more, the machine algorithms project that Bitcoin where Time would trade 1.72% higher from its current price of $24,513.
Regarding mood using the 1 week gauges at trade view, Indicators are mostly positive – their summary hovering in the “buy” zone at 12, which is the result of oscillators pointing to “neutral” at 7, but moving averages actually pointing to “buy” at 10.
Bitcoin 1 week sentiment indicators. Source: trading view
Bitcoin price analysis
Meanwhile, bitcoin is currently changing hands at the price of $24,513, posting a slight 0.35% drop on the day but still up 12.55% on the previous week and up 7.96% on its monthly chart , according to the latest data February 20.
Bitcoin 30 day price chart. Source: Finbold
Despite the recent crypto crackdown by the United States government, the coming week could actually mean a bullish rally in line with Bitcoin’s machine learning algorithm predictions as it previously laid a foundation for the next uptrend, as Finbold did on Feb. 19 reported .
Disclaimer: The content of this website should not be construed as investment advice. Investing is speculative. When investing, your capital is at risk.
Source: finbold.com
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