Bitcoin (BTC) has surged above $30,000 for the first time since June 2022; the flagship digital asset will now seek support above $30,000 and push on to test higher highs.
Given the surge of over 80% year-to-date and considering that the adoption of Bitcoin has skyrocketed recently, nearing 1 million holders of at least one BTC and that it had outperformed the top five major indexes by 170% in the first quarter of 2023, it seems that the odds are firmly in its favor.
However, some in the crypto community believe that the price of Bitcoin will decline significantly by the end of April. CoinMarketCap, which has an 83% historical accuracy of predicting Bitcoin’s price over the last six months, believes that the price of BTC will drop in the coming weeks.
Bitcoin’s price is estimated to decline by 21.63% by the end of April, if the predicted 11,583 member votes are correct. However, the technical analysis on TradingView’s 1-day gauges are bullish, with the summary aligning with the ‘strong buy’ sentiment at 17. This is due to the oscillators pointing at ‘buy’ at three and moving averages indicating a ‘strong buy’ at 14.
Bitcoin is currently experiencing a bull run, with its price reaching $30,114 on April 11. The AI technology at PricePrediction estimates that it will trade above $30,000 by the end of next month. This forecast sets Bitcoin’s price at $30,697 on April 30, 2023. This provides a much different outlook to the Bitcoin community on CoinMarketCap.
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