CoinCodex’s machine learning algorithm has taken a step forward bitcoin-etf/” rel=”nofollow”>bitcoin price and predicted where the price of the asset could be in both the short and very long term. If we go by the predictions, then the price of btc-fatal-bitcoin-flaw/” rel=”nofollow”>bitcoin is at one of the lowest points it has ever been in the next seven years.
Very optimistic for bitcoin price in the short term
He crypto/bitcoin/price-prediction/” rel=”nofollow”>predictions of the machine learning algorithm for the bitcoin-price-liquidity-low-at-q4-2022-levels/” rel=”nofollow”>bitcoin Prices, especially in the short term, are very bullish. These predictions ranging from five days to a month show where the algorithm expects the price to be in these time periods and are very far from current price levels.
In the 5-day prediction, the machine learning algorithm shows a pretty outrageous price and predicts that the price will increase by about 50% from now on. The 5-day price target stands at $55,661, and considering bitcoin‘s current price of just under $31,200 at the time of writing, it will mean that bitcoin-legal-tender-germany/” rel=”nofollow”>btc It would have to jump 49.65% in less than a week.
<img decoding="async" class="alignnone size-medium wp-image-561492 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2023/11/Machine-Learning-Algorithm-Predicts-1766-Rise-in-Bitcoin-Price-Heres.png" alt="bitcoin price prediction” width=”460″ height=”231″ srcset=”https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-20-at-10.47.38.png?w=1772 1772w, https://technicalterrence.com/wp-content/uploads/2023/11/Machine-Learning-Algorithm-Predicts-1766-Rise-in-Bitcoin-Price-Heres.png 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-20-at-10.47.38.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-20-at-10.47.38.png?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-20-at-10.47.38.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-20-at-10.47.38.png?w=360 360w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-20-at-10.47.38.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-20-at-10.47.38.png?w=1140 1140w” sizes=”(max-width: 460px) 100vw, 460px” loading=”lazy” data-recalc-dims=”1″/>
Source: CoinCodex
However, the prediction within a month is much more realistic: $43,760. This translates to a 17.66% rally taking into account the current price and an increase of almost $7,000 in the value of bitcoin-price-down-36200/” rel=”nofollow”>the pioneer cryptocurrency.
Analyzing the long-term prediction for btc
On much longer timeframes, the algorithm shows much more optimism for bitcoin. For example, in 2024, which is less than two months away, he predicts that the price of bitcoin will reach $109,364, with a yearly low of $29,564, which is the lowest he expects the price of the asset to be in the next seven years. .
Between 2025 and 2026 it is expected bitcoin-model-predicted-60k-peak-points-732k/” rel=”nofollow”>btc to peak above $100,000 with a lower annual range of $62,757. Interestingly, in 2027, the algorithm does not expect much deviation between the annual low and high, placing the former at $78,443 and the latter at $78,522.
In 2029, the CoinCodex machine learning algorithm expects bitcoin-derivatives-hints-historic-2021-performance/” rel=”nofollow”>bitcoin price to finally cross the desired $300,000 level. This year, the annual low rises significantly to $126,318 and the annual high stands at $305,028.
Fast forward to 2030 and optimism remains with an expected yearly low of $141,562. The expected annual high for 2030 is lower than that of 2029, but is still significant at $266,676.
The high numbers projected for the price of bitcoin are not without merit as the website identifies that there are bitcoin-bullish-hodlers-buying-194500-btc-per-month/” rel=”nofollow”>Now more bullish signals are flashing than bearish ones.. Out of a total of 30 signals analyzed, 27 were found to be bullish and only 3 signals were bearish.
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2023/11/Machine-Learning-Algorithm-Predicts-1766-Rise-in-Bitcoin-Price-Heres" alt="Tradingview.com bitcoin Price Chart” width=”2650″ height=”1742″/>
btc bullish sentiment holds strong | Source: BTCUSD on Tradingview.com
Featured image from The Economic Times, chart from Tradingview.com
