Community bitcoin He had high hopes for it. The world’s largest cryptocurrency was finally on its way to recovery. The asset faced major hurdles while trying to reach $25,000. Earlier today, BTC rallied to $24,167.21, a 90-day high. It then fell as low as $21,539.39. For some, it’s possible for the king coin to have a bloody Valentine’s Day.
According to PricePredictions, a leading crypto monitoring firm using machine learning algorithms, BTC will linger around its current territory. The platform stated that it is likely that Bitcoin will trade at $21,632 on February 14.
In addition, the machine learning algorithm has signaled that it will be a bearish week for Bitcoin. The firm wrote:
“According to our Bitcoin technical analysis, we see a bearish trend in the long run. Therefore, we predict that the Bitcoin price will drop by $ 33.58 in the next 7 days and reach $ 21,661.40 by February 20, 2023.”
Amid the recent price change, Bitcoin remains 68.33% below its all-time high of $68,789.63. The highest level was seen in November 2021.
Bitcoin Holders Keep Profiting Despite the Fall
While Bitcoin is falling cryptocurrency The community began to worry. While the asset has faced a decline, the percentage of those currently making money has remained high. According to Into the Block, 63% of BTC holders make a profit.
If Bitcoin manages to move up from the current price level, it is possible for BTC holders to earn more.