Machine learning algorithm sets Bitcoin price for March 1, 2023

Machine learning algorithm sets Bitcoin price for March 1, 2023

As the cryptocurrency market writes significant gains over the past week, crypto traders And investors attempt to assess where the price of its representative asset – Bitcoin (BTC) – could be in place at the beginning of the third month of 2023 based on available data, including predictions from machine learning algorithms.

In this context, Finbold consulted machine learning algorithms at cryptocurrency tracking platform Price predictionsand at press time they predicted the price of Bitcoin on March 1, 2023, would amount to $24,934, according to the information retrieved February 20.

30-day Bitcoin price prediction. Source: Price predictions

Indeed, the implementation of various technical analyzes (FOCUSED TOWARDS) indicators, including moving averages (MY), moving average convergence divergence (MACD), relative strength index (IRS), Bollinger Bands (BB), and more so, the machine’s algorithms predict that Bitcoin at that time would be trading 1.72% higher than its current price of $24,513.

In terms of sentiment using week 1 gauges To TradingView, the indicators are broadly positive – their summary residing in the “buy” zone at 12, which is the result of oscillators pointing to “neutral” at 7, but the moving averages actually suggest “buy” at 10.

1-Week Bitcoin Sentiment Gauges. Source: TradingView

bitcoin price analysis

Meanwhile, Bitcoin is currently changing hands at a price of $24,513, registering a slight decline of 0.35% on the day but still rising 12.55% from the previous week and gaining 7.96% on its chart. monthly, according to the latest data retrieved on February 20.

30-day Bitcoin price chart. Source: Fineball

Despite the recent crypto crackdown by the United States government, the coming week could indeed be synonymous with bullish go along with the predictions of the machine learning algorithm for Bitcoin, as it has previously created a basis for the next step, such as Finbold reported February 19.

Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.

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