2024

Wolf of Wall Street

Bitcoin

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 <p class="paragraph">As 2024 begins, many assets in the cryptocurrency sector are trading in the green zone, including Bitcoin (BTC), which has continued its move to the upside, although artificial intelligence (AI) and machine learning algorithms are not bullish on its price for the end of this year’s first month.</p>
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 <p class="paragraph">Indeed, the advanced AI price prediction algorithms over at the crypto market analytics and prediction platform <em>WalletInvestor </em>have set the price of Bitcoin on January 31, 2024, at $41,323.26, according to the most recent information retrieved from the website by Finbold on January 1.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" loading="lazy" width="427" height="253" src="https://cdn.thebittimes.com/images/2024/01/01/6eacc41f83a5f876f5a1868abf5b5a4c.webp" alt class="wp-image-146473" srcset="https://cdn.thebittimes.com/images/2024/01/01/6eacc41f83a5f876f5a1868abf5b5a4c.webp 427w, https://cdn.thebittimes.com/images/2024/01/01/6eacc41f83a5f876f5a1868abf5b5a4c.webp 300w" sizes="(max-width: 427px) 100vw, 427px">
  <figcaption class="wp-element-caption"><em>Bitcoin end of January 2024 price prediction. Source: </em><em>WalletInvestor</em>
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 </figure>
 <p class="paragraph">As the above data suggests, 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>, which offers long and short-term <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> projections based on changes in the exchange rates, trade volumes, past volatilities, and other important economic aspects, predicts that Bitcoin could decline by&nbsp;2.97% compared to its current <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">Meanwhile, the maiden crypto asset was at press time changing hands at the price of $42,586, suggesting an increase of 1.72% in the last 24 hours, a 2.34% loss across the previous seven days, and a gain of 10.30% over the past month, according to the information on January 1.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/01/01/c180a70ae2d59b55a91171163eedd6b1.webp" alt class="wp-image-146470" srcset="https://cdn.thebittimes.com/images/2024/01/01/c180a70ae2d59b55a91171163eedd6b1.webp 1024w, https://cdn.thebittimes.com/images/2024/01/01/c180a70ae2d59b55a91171163eedd6b1.webp 300w, https://cdn.thebittimes.com/images/2024/01/01/c180a70ae2d59b55a91171163eedd6b1.webp 768w, https://cdn.thebittimes.com/images/2024/01/01/c180a70ae2d59b55a91171163eedd6b1.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin 30-day price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">At the same time, the one-week technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA) gauges at the crypto and finance monitoring website<em> TradingView</em> suggest a bullish sentiment of ‘buy’ at 14, which is the summary of oscillators in the ‘sell’ zone at 4 and moving averages (MA) pointing at a ‘strong buy’ at 13.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="314" src="https://cdn.thebittimes.com/images/2024/01/01/b366c732aa6d2f3970c32d269863b2e5.webp" alt class="wp-image-146471" srcset="https://cdn.thebittimes.com/images/2024/01/01/b366c732aa6d2f3970c32d269863b2e5.webp 1024w, https://cdn.thebittimes.com/images/2024/01/01/b366c732aa6d2f3970c32d269863b2e5.webp 300w, https://cdn.thebittimes.com/images/2024/01/01/b366c732aa6d2f3970c32d269863b2e5.webp 768w, https://cdn.thebittimes.com/images/2024/01/01/b366c732aa6d2f3970c32d269863b2e5.webp 1536w, https://cdn.thebittimes.com/images/2024/01/01/b366c732aa6d2f3970c32d269863b2e5.webp 1733w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin 1-week gauges. Source: </em><em>TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">All things considered, the largest digital asset by market capitalization might end up at a lower <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> level, as predicted by the machine <a rel="noopener noreferrer nofollow" title="algorithm" href="https://thebittimes.com/tag/algorithm.html">algorithm</a>. However, its upcoming halving and possible spot Bitcoin exchange-traded fund (ETF) approval could help it make massive gains in the long run, including going parabolic in 2025.</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-sets-bitcoin-price-for-january-31-2024-tbt75286.html">https://thebittimes.com/machine-learning-algorithm-sets-bitcoin-price-for-january-31-2024-tbt75286.html</a></p>

Machine learning algorithm sets Bitcoin price for January 31, 2024

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