AI indicates a substantial increase in the Bitcoin price by the end of 2023
In this context, estimates published by CoinPriceForecast employing machine self-learning technology indicate a significant increase in Bitcoin price by the end of 2023.
As it happens, Bitcoin began trading in 2023 at $16,522, representing a 49% increase from the beginning of the year. The estimated artificial intelligence (AI) pricing for the end of this year is currently $33,047, representing a 34% increase from the price at press time.
Bitcoin 2023 price target | Source: CoinPriceForecast
Meanwhile, if these machine-based projections are true, the year-to-year shift in Bitcoin price would be 100%, followed by more expected price gains in the coming years.
By press time, Bitcoin was trading at $24,572, down 0.7% in the previous 24 hours but up 13% over the previous seven days and 8% on the monthly chart.
BTC/USD 4-hour chart | Source: TradingView
The above projections for the end of the year will be determined by developments in the broader macro landscape and those related to Bitcoin, such as its transaction count momentum reaching the highest level in more than two years and historical patterns indicating a bullish rally for the next three years.
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