Artificial Intelligence Determines Bitcoin Price as of March 1

Over the past seven days, the cryptocurrency market has shown mostly positive dynamics. In this context, analysts from Finbold used the PricePredictions machine learning algorithm to determine the price of bitcoin as of March 1, 2023. Thus, artificial intelligence predicted that on the first day of spring, BTC will be traded for $ 24,934.

At the time of writing, the rate of the flagship asset BTC $60,780.47 Bitcoin -1.42% Market capitalization $1.2 trillion VOL. 24 hours $1.44 billion is fixed at $ 24,835 with a market capitalization of $ 479.2 billion. In total, BTC grew by 12.55% in a week and by 7.96% in a month

Despite AI’s forecast, there are cryptocurrency experts who predict even more growth for bitcoin. For instance, Galaxy Digital Holdings CEO Mike Novogratz suggested that bitcoin has a chance to return to the $ 30,000 mark or even surpass it by the end of March.

It is interesting that Novogratz’s current forecast is much lower than those he voiced earlier. Last year, the CEO of Galaxy Digital said that bitcoin would reach $ 500,000 by 2025 if the US Federal Reserve continued to raise interest rates. Novogratz’s forecast turned out to be inaccurate, at least for 2023: after the current interest rates were made public, the bitcoin rate dropped by 4% per day and 7.5% per week.

Michael van de Poppe also remains optimistic. The expert expects that in 2023, bitcoin will manage to reach $ 38,500: «If we can break through the $ 20,600 level, we will break the trend. Then, most likely, BTC will meet the price of $ 29,200 and will probably continue to move to the block around $ 38,500.»