The price of Bitcoin ( BTC ) briefly climbed above $29,000 on March 30 as the flagship digital asset continued its push to reclaim the psychological $30,000 level.
The largest cryptocurrency has gained more than 20% since March 1, when it was trading just above $23,000. Given BTC’s bullish month, investors have set their sights on the near-term price of late April in hopes that the asset will experience similar growth.
With this in mind, Finbold consulted with machine learning algorithms on crypto monitoring platform PricePredictions. Notably, AI technology predicts that BTC will trade above $30,000 by the end of next month. The prediction puts Bitcoin’s price at $30,697 on April 30, 2023, based on the latest information available on March 30.
The forecast is based on indicators such as Relative Strength Index (RSI), Moving Average (MA), Moving Average Convergence Divergence (MACD), Bollinger Bands (BB), etc. It is up 6.8% from the price of Bitcoin at the time of publication.
As things stand, Bitcoin’s current price is up 0.47% on the day and 3.54% higher than the previous week, with a total market capitalization of $553 billion.
Meanwhile, financial and cryptocurrency tracking site TradingView’s 1-day indicator sentiment is bullish. The summary indicates a "Strong Buy" at 12, as summarized by the oscillator indicating a "Buy" at 3 and the moving averages in a "Strong Buy" range at 14.
As the financial system becomes more stable, the value of Bitcoin will decline, potentially falling to $9,000 by 2023. In fact, he hypothesizes that BTC will initially decline due to the ongoing banking crisis and potential stock market sell-off, but will then recover and continue its long-term growth trajectory.
