Cryptocurrency

2024

Bitcoin

April

<div class="finbold">
 <p class="paragraph">Although Bitcoin (BTC) is struggling to retake the $43,000 price level, its crossing into the $40k region is important to begin with. However, machine learning and artificial intelligence (AI) algorithms are bearish, predicting it will lose this critical threshold by the end of next month.</p>
 <p class="paragraph">Indeed, the price of Bitcoin could decline during February, dropping to $38,699 by February 29, 2024, at least according to the advanced algorithms deployed by the cryptocurrency and stock monitoring and prediction platform <em>CoinCodex</em>, as per the latest data retrieved by Finbold on February 1.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/vq4VCsFK62ZaaWEwKWMMQwFE9yFDqqNzx9RynqpCKGAOR1L-I_Giy1i4D9r4JBTGM4rh0Vd0YqoM0p5EkebdQxm3G1FvP_ErhVAsvSk3TldTvNN4aSlVveP1pCByzovF1FPSmPaBzhTbYsq6e7Z2iy4" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin 1-month price prediction. Source: </em><em>CoinCodex</em>
  </figcaption>
 </figure>
 <p class="paragraph">Specifically, if the above projections, calculated with the help of the historical Bitcoin <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> dataset and accounting for the cyclical nature of its halvings, are correct, it would mean that the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of the maiden crypto asset would decrease by 8.28% from where it stood at the time of publication.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">For now, the flagship decentralized finance (DeFi) asset is changing hands at the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of $42,192, down 1.35% in the last 24 hours, up 5.31% across the previous seven days while accumulating a loss of 7.92% on its monthly chart, as the most recent data suggests.</p>
 <figure class="wp-block-image"><img decoding="async" width="1200" height="800" src="https://cdn.thebittimes.com/images/2024/02/01/909fad24b894e816927081e54ef4b544.webp" alt class="wp-image-152513" srcset="https://cdn.thebittimes.com/images/2024/02/01/909fad24b894e816927081e54ef4b544.webp 1200w, https://cdn.thebittimes.com/images/2024/02/01/909fad24b894e816927081e54ef4b544.webp 300w, https://cdn.thebittimes.com/images/2024/02/01/909fad24b894e816927081e54ef4b544.webp 1024w, https://cdn.thebittimes.com/images/2024/02/01/909fad24b894e816927081e54ef4b544.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px">
  <figcaption class="wp-element-caption"><em>Bitcoin 30-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
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 <p class="paragraph">Elsewhere, the 30-day technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA) gauges over at the finance and crypto market analytics website <em>TradingView</em> are bullish, suggesting a ‘buy’ at 10, from summarized oscillators pointing at a ‘sell’ at 3, and moving averages (MA) in the ‘strong buy’ zone at 9.</p>
 <figure class="wp-block-image"><img decoding="async" width="1600" height="458" src="https://cdn.thebittimes.com/images/2024/02/01/1d6e675a695ca79177fa55f72b56a268.webp" alt class="wp-image-152514" srcset="https://cdn.thebittimes.com/images/2024/02/01/1d6e675a695ca79177fa55f72b56a268.webp 1600w, https://cdn.thebittimes.com/images/2024/02/01/1d6e675a695ca79177fa55f72b56a268.webp 300w, https://cdn.thebittimes.com/images/2024/02/01/1d6e675a695ca79177fa55f72b56a268.webp 1024w, https://cdn.thebittimes.com/images/2024/02/01/1d6e675a695ca79177fa55f72b56a268.webp 768w, https://cdn.thebittimes.com/images/2024/02/01/1d6e675a695ca79177fa55f72b56a268.webp 1536w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption"><em>Bitcoin 1-month sentiment gauges. Source: TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">In conclusion, Bitcoin might, indeed, drop to the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> range projected by the machine <a rel="noopener noreferrer nofollow" title="learning" href="https://thebittimes.com/tag/learning.html">learning</a> <a rel="noopener noreferrer nofollow" title="algorithm" href="https://thebittimes.com/tag/algorithm.html">algorithm</a>s, but even if it does, it could prove an ideal opportunity to ‘buy the dip’ before the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> growth resumes toward the halving, estimated to take place in late April 2024.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/machine-learning-algorithm-predicts-bitcoin-price-on-february-29-2024-tbt78481.html">https://thebittimes.com/machine-learning-algorithm-predicts-bitcoin-price-on-february-29-2024-tbt78481.html</a></p>

Machine learning algorithm predicts Bitcoin price on February 29, 2024

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