CoinCodex’s self-learning machine technology will determine the Bitcoin price in 2023 over Easter day. The software predicts that Bitcoin’s momentum will slow down and that, based on information obtained on March 19, it may trade at $27,845 on this day.
Bitcoin one-month price prediction | Source: CoinCodex
It’s important to note that CoinPriceForecast, another AI-based technology, predicted that Bitcoin would likely recover $30,000 by the end of the year. By the end of 2023, according to the trading platform, Bitcoin will be worth $33,047.
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BTC/USD 4-hour chart | Source: TradingView
After days of consistent capital influx, Bitcoin was trading at $28,102 as of publication. With a market worth of $540 billion, Bitcoin has increased in value by over 30% on the weekly chart, despite only modestly correcting by roughly 1% over the past day.
A positive perspective predominates in the one-week technical analysis of Bitcoin that TradingView has retrieved. The gauges’ summary and moving averages at 16 and 12, respectively, suggest a “strong buy” recommendation.
Bitcoin technical analysis | Source: TradingView
The upward trend of bitcoin has resulted in a growing conviction that the current banking crisis is changing the asset’s perception. Despite this, inflation and rising Federal Reserve rates continue to impact the value of cryptocurrencies significantly.
The likelihood of raising interest rates is decreasing due to the statistics on inflation showing slowing growth, which is expected to function as a bullish trigger for Bitcoin to retake the $30,000 level potentially.
Read more:
- Bitcoin’s Rise Above Important Support Levels Signals Positive Market Sentiment
- Bitcoin Outperforms Tech, Gold, And Energy Sectors With 51% YTD Performance, Goldman Sachs Reports