Cryptocurrency community expects bitcoin to fall by more than 20% by the end of April

Bitcoin has managed to reach its highest level since June 2022 and set a new high for 2023 at $ 30,200. However, not everyone believes in the duration of this success.

According to the forecasts of the CoinMarketCap cryptocurrency community, the market leader will be trading at $ 23,561 on April 30, which means a 22% drop. Over the past 6 months, 83% of CoinMarketCap users' expectations regarding the value of BTC have been met, so some people are seriously scared by such forecasts.

According to the PricePredictions machine learning algorithm, BTC will be trading above $ 30,000 by the end of next month. The AI expects BTC to reach $ 30,697 on April 30, 2023, which is significantly higher than the forecasts of CoinMarketCap users.

Many analysts predicted the current rise to $ 30,000 as the crypto community awaits the release of the US Consumer Price Index (CPI) report on April 12. Investors are trying to understand in which direction the Fed will change interest rates. According to some indicators, the U.S. economy is headed for a recession. In such circumstances, bitcoin can become a hedge against inflation.