BitcoinWhile it has never lost its position as the leading cryptocurrency worldwide, it managed to attract attention with the interest and developments it showed in the first months of 2024.
A major market correction following the approval of nine different Bitcoin exchange-traded funds (ETFs) caused Bitcoin’s market value to drop by nearly $80 billion in a week. However, this decline was short-lived and Bitcoin began to move towards its previous record high of $65,000, rising from $39,500 to $52,000 in just a few weeks.
The rapid volatility of the cryptocurrency market makes it difficult for analysts to make accurate predictions in this area. Predictions vary widely, from major declines to record highs.
This recent activity points to a rally in the overall cryptocurrency market, especially with events such as the Bitcoin halving and Ethereum (ETH) exceeding the $ 3,000 level for the first time since the beginning of 2022.
In this context, Finbold turned to PricePredictions, an AI-powered platform specializing in future price predictions. The platform’s artificial intelligence predictions predict that Bitcoin will show a steady uptrend in the coming weeks and reach $53,108.10 within 10 days and $55,789.10 within a month.
While Bitcoin’s recent performance offers significant gains to investors and traders, technical analysis provided by TradingView offers a similarly positive outlook. While Bitcoin generally receives a “strong buy” signal, oscillators are considered “buy” and moving averages are considered “strong buy”. However, the analysis based on the last 24 hours of trading is a little more cautious, with oscillators neutral and moving averages giving a “buy” signal.
Since the beginning of the year, Bitcoin has increased by 18.21%, and this trend has continued with an increase of 25.32% in the last 30 days and 4.82% in the last 7 days. Recently, the price has stabilized a bit more and is down 0.20% to $52,257.
