Can Bitcoin Reach $30k By Easter 2023? BTC price prediction
The value of Bitcoin (BTC) has increased in 2023, with the asset targeting new levels despite the prevailing impact of the banking crisis. With recent gains, the future price of Bitcoin is in focus as investors monitor whether the gains will last.
In this regard, Finbold took advantage CoinCodex’s self-learning machine platform to determine Bitcoin’s price during Easter 2023. According to the platform, Bitcoin’s momentum is likely to stagnate and it could trade at $27,845 on Easter Sunday, April 9, according to data obtained on March 19.
The estimated price of Bitcoin represents a gain of around 2% from the cryptocurrency’s valuation at the time of publication.
It is worth noting that Finbold previously reported that another AI-based tool, CoinPrice Forecast, indicated that Bitcoin is likely to reclaim $30,000 by the end of the year. The platform estimates that BTC will trade at $33,047 by the end of 2023.
Bitcoin price analysis
At press time, Bitcoin was trading at $27,324 after days of sustained capital inflows. On the weekly chart, Bitcoin is up over 30%, despite a slight correction of about 1% in the last 24 hours, with a market cap of $526.8 billion.
Although Bitcoin has corrected slightly, crypto trading expert and analyst Michaël van de Poppe, in a chirping on March 18 remained bullish on BTC’s near-term prospects.
“Just as previously asked about Bitcoin, we got the answer now too. Are we staying above $26,800? The answer is clear; yes. This means the trend will continue until $26,800 is lost. Looking for a final sweep to $28,300-28,900 and then reversal,” he said.
Elsewhere, Bitcoin’s One Week Technical Analysis sourced from TradingView is dominated by a bullish outlook. A summary and moving average of the gauges recommend a “strong buy” sentiment of 16 and 12 respectively.
Bitcoin basics
Bitcoin’s momentum has translated into a growing belief that the asset is experiencing a change in narrative due to the ongoing banking crisis. Despite this, the value of the cryptocurrency continues to be heavily influenced by inflation and interest rate hikes by the Federal Reserve.
With the inflation data showing reduced growth, the chances of raising interest rates are diminishing, an aspect that is likely to act as a bullish catalyst for Bitcoin to possibly regain the $30,000 position.
Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.
