Cryptocurrency

United

2024

Bitcoin

April

<div class="finbold">
 <p class="paragraph">Although the United States Securities and Exchange Commission (SEC) finally approved multiple spot Bitcoin (BTC) exchange-traded funds (ETFs), the pivotal development has failed to produce a substantial rally, and machine <a rel="noopener noreferrer nofollow" title="learning" href="https://thebittimes.com/tag/learning.html">learning</a> and artificial intelligence (AI) <a rel="noopener noreferrer nofollow" title="algorithm" href="https://thebittimes.com/tag/algorithm.html">algorithm</a>s remain bearish.</p>
 <p class="paragraph">Indeed, the price of Bitcoin could decline to $35,808 by February 1, 2024, at least according to the advanced price prediction algorithms over at the cryptocurrency market analytics and prediction platform <em>CoinCodex</em> retrieved by Finbold from the website on January 24.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/wceNUP4hXy0_nvZ8Li-L1q3LrY0rz_vuNbM-KmAWAwliUbdakRWEx6WLITYk9jtKRxTKR07LT5ApHi3FFripRJo3KZ0GL8g86JudCvfI9rtAOqbjEPwMS-g1HJHV9uFGYAlTruwfMoaY5fqMVr3SvEg" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin 1-month price prediction. Source: </em><em>CoinCodex</em>
  </figcaption>
 </figure>
 <p class="paragraph">As per the above data, the <a rel="noopener noreferrer nofollow" title="algorithm" href="https://thebittimes.com/tag/algorithm.html">algorithm</a>, which makes use of the historical Bitcoin <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> dataset, accounting for past volatility and market movements, as well as the cyclical character of its halvings to create a realistic projection, forecasts that the maiden crypto asset will drop by 10.21% 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">At press time, Bitcoin was changing hands at the price of $39,879, recording an increase of 2.44% in the last 24 hours, as it tries to reverse the 6.65% drop from the previous seven days and a decline of 8.31% on its monthly chart, according to the most recent information.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/XUJgB0xKqrVkZTInBNEYf4EnaZW0uJGvkuvcD1O9bPzfeW_QZ_hjz8sURLvwmQIWWTErpHInMkFS-cMB6HEK_BPreRPZyvfNLba7erENxAOFvfHBUCaxOi1AENVfRGxoh0mtwtpEA68iGlR5_2bARhk" alt>
  <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">Meanwhile, the one-week technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA) gauges deployed at the finance and crypto market monitoring website <em>TradingView</em> are slightly more optimistic, suggesting a ‘buy’ at 12, as summarized from moving averages (MA) pointing at a ‘strong buy’ at 11 and oscillators in the ‘neutral’ zone at 9.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/SUcrZTdFZY616Rz-0FbWLnoNea36jSVcjCEtyKpSzi0q9-uV_BvH7XD2z7_b18NAGTAzAcVqUkIhOG1SofsS4hekrDrOylVGWoamAWItds2GuEFwmzVozEcgEu5bPMQFz1yM-rCtYoBLKGZFsEkZVRs" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin 1-week sentiment gauges. Source: TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">Overall, things do not look very bullish for the flagship decentralized finance (DeFi) asset where AI and machine algorithms are concerned, but its upcoming halving in April 2024 could help it make massive gains in the long run, including a potentially parabolic rally 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>
 <p class="paragraph"></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-february-1-2024-tbt77589.html">https://thebittimes.com/machine-learning-algorithm-sets-bitcoin-price-for-february-1-2024-tbt77589.html</a></p>

Machine learning algorithm sets Bitcoin price for February 1, 2024

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