When it comes to cryptocurrencies, everyone thinks of November 2021. After reaching its all-time high, Bitcoin‘s price, everything changed and perhaps a series of unfortunate events began. From that day until September 2023, an unstoppable decline has occurred. Although it may not be the lowest point ever seen, the price of Bitcoin and other cryptocurrencies is far from what was expected.
How Much Will Bitcoin Be Worth?
While some investors in the crypto sector are starting to recover their recent losses and regain their bullish expectations, the price of Bitcoin (BTC) has also surpassed the $26,000 mark, indicating that machine algorithms could see more gains in the near future.
Indeed, algorithms on the PricePredictions platform, which is a crypto analysis and forecasting platform, indicate that the price of the leading cryptocurrency, as a decentralized finance (DeFi) asset, will trade at $27,073 as of October 1, 2023, considering the latest price data taken on September 14.
To elaborate further, algorithms that use technical analysis (TA) indicators such as the relative strength index (RSI), moving average convergence divergence (MACD), Bollinger Bands (BB), average true range (ATR), and others, are sharing their prediction of a 2.32% increase from the current price of Bitcoin with investors.
Bitcoin Price Analysis
Currently, the largest crypto asset is trading at $26,600, experiencing a 1.11% increase in the last 24 hours and a 2.98% gain compared to the previous seven days. However, it is worth mentioning that it showed a 9.79% decrease last month, according to recent reviews.
It is also worth noting that the price prediction algorithm on the CoinCodex crypto analysis platform has a higher price forecast than PricePredictions, setting Bitcoin’s price at $31,368 by October 1, 2023, which would indicate an 18.55% increase if it proves to be accurate.
Meanwhile, the name Bitcoin has also experienced an increase in the number of views on Wikipedia’s page, reaching its highest level this year with 7,830 views on September 8, due to the increased interest in cryptocurrencies associated with the expectation of approving a Bitcoin exchange-traded fund (ETF).
