Machine Learning Algorithm Predicts 17.66% Rise In Bitcoin Price, Here’s The Target

2 Mins read

The machine learning algorithm at CoinCodex has taken a crack at the Bitcoin price and predicted where the asset’s price could be both over the short term and the very long term. If the predictions are anything to go by, then the price of Bitcoin is at one of the lowest points it’ll ever be in the next seven years.

Very Bullish For Bitcoin Price In The Short Term

The predictions from the machine learning algorithm for the Bitcoin price, especially in the short term, are very bullish. These predictions ranging between five days and one month show where the algorithm expects the price to be in these time frames and they are a long way away from the current price levels.

On the 5-day prediction, the machine learning algorithm is showing a rather outrageous price, predicting that the price will rise approximately 50% from here. The 5-day price target is placed at $55,661, and taking into account the current Bitcoin price of just under $31,200 at the time of this writing, it will mean that BTC would have to jump 49.65% in less than a week.

Bitcoin price prediction

Source: CoinCodex

The prediction on the one-month timeframe is, however, much more realistic at $43,760. This translates to a $17.66% rally taking the current price into account, and an almost $7,000 increase in value for the pioneer cryptocurrency.

Looking Over The Long Term Prediction For BTC

On the much longer timeframes, the algorithm shows much more bullishness for Bitcoin. For example, in 2024, which is less than two months away, it predicts that the Bitcoin price will run as high as $109,364, with a yearly low of $29,564, which is the lowest it expects the asset’s price to be in the next seven years.

Between the years 2025 and 2026, it expects BTC to peak above $100,000 with a bottom yearly range of $62,757. Interestingly, in 2027, the algorithm does not expect much deviation between the yearly low and high, putting the former at $78,443 and the latter at $78,522.

In 2029, the CoinCodex machine learning algorithm expects the Bitcoin price to finally cross the sought-after $300,000 level. In this year, the yearly low moves up significantly to $126,318 and the yearly high is placed at $305,028.

Fast forward to 2030 and the bullishness is maintained with an expected yearly low of $141,562. The predicted yearly high for 2030 is lower than that of 2029 but still significant at a value of $266,676.

The high figures projected for the Bitcoin price are not without merit as the website identifies that there are more bullish signals flashing now than bearish signals. Out of a total of 30 signals analyzed, 27 were found to be bullish with only 3 bearish signals.

Bitcoin price chart from

BTC bullish sentiment holds strong | Source: BTCUSD on

Featured image from The Economic Times, chart from

Source link

Related posts

Gnosis Price Prediction: GNO Pumps 23% As This Bitcoin Alternative Roars Past $5 Million In Presale

2 Mins read
Join Our Telegram channel to stay up to date on breaking news coverage The Gnosis price has jumped by 23% in the…

Why This Altcoin Could Be Bigger Than Dogecoin

3 Mins read
Join Our Telegram channel to stay up to date on breaking news coverage Cryptocurrencies have developed a reputation as speculative assets that…

Binance Research Report Reveals 110% Surge in Crypto Market Cap YTD

2 Mins read
A recent report from Binance Research reveals a remarkable surge in the total cryptocurrency market capitalization, which has climbed by about 110%…



Leave a Reply

Your email address will not be published. Required fields are marked *