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After a brief bullish rally, the cryptocurrency market in general wakes up in a sea of red again, with Bitcoin (BTC) falling more than 2% and the crypto community’s expectations for the future price of the first digital asset. is no longer optimistic. .
In fact, the votes cast by members of the crypto-tracking platform were coin market capitalization Bitcoin is expected to trade at an average price of $19.368 on January 31, 2023, according to data obtained by Finbold on January 19.
estimate of 19,438 membership cards If it proves true, it means that by the end of January the price of Bitcoin will drop another -6.64% or -$1,377 compared to its current price ($20,745 at the time of writing). .
Given the performance of the crypto community’s predictions over the past six months, we’ve historically priced the flagship decentralized finance (DeFi) token with an accuracy of 71.75%.
On the other hand, machine learning algorithms price prediction We previously predicted that Bitcoin would likely trade at $21,382 on February 1, 2023. Unlike the crypto community, the Machine Algorithm remains bullish, with the price he recently set at $21,239.
Additionally, Bitcoin Technical Analysis (TA) TradingView.
Bitcoin price analysis
The announcement of the bankruptcy of crypto lender Genesis has likely hampered Bitcoin’s 2023 winning streak, as the asset has fallen 2.19% over the past 24 hours, after gaining 14.10% in the previous week. Recorded and 23.33% recorded a rise of 23.33%. Monthly chart with data acquired by Finbold on January 19th.
Notably, Bitcoin’s 24-hour trading volume increased from $24.27 billion on Jan. 12 to $29.68 billion at the time of the IPO. This means that it grew 21.79% in 7 days, during which the market cap received an inflow of nearly $50 billion.
Disclaimer: The content of this site should not be considered investment advice. Investing is speculation. Your capital is at risk when you invest.
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