The machine learning algorithm at CoinCodex has taken a crack at the price and predicted where the asset’s price could be both over the short term and the very long term. If the predictions are anything to go by, then the price of is at one of the lowest points it’ll ever be in the next seven years.
Between the years 2025 and 2026, it expects with a bottom yearly range of $62,757. Interestingly, in 2027, the algorithm does not expect much deviation between the yearly low and high, putting the former at $78,443 and the latter at $78,522.
In 2029, the CoinCodex machine learning algorithm expects the price to finally cross the sought-after $300,000 level. In this year, the yearly low moves up significantly to $126,318 and the yearly high is placed at $305,028.
Fast forward to 2030 and the bullishness is maintained with an expected yearly low of $141,562. The predicted yearly high for 2030 is lower than that of 2029 but still significant at a value of $266,676.
The high figures projected for the Bitcoin price are not without merit as the website identifies that there are . Out of a total of 30 signals analyzed, 27 were found to be bullish with only 3 bearish signals.
Very Bullish For Bitcoin Price In The Short Term
The from the machine learning algorithm for the price, especially in the short term, are very bullish. These predictions ranging between five days and one month show where the algorithm expects the price to be in these time frames and they are a long way away from the current price levels. On the 5-day prediction, the machine learning algorithm is showing a rather outrageous price, predicting that the price will rise approximately 50% from here. The 5-day price target is placed at $55,661, and taking into account the current Bitcoin price of just under $31,200 at the time of this writing, it will mean that would have to jump 49.65% in less than a week.
Source: CoinCodexThe prediction on the one-month timeframe is, however, much more realistic at $43,760. This translates to a $17.66% rally taking the current price into account, and an almost $7,000 increase in value for .
Looking Over The Long Term Prediction For BTC
On the much longer timeframes, the algorithm shows much more bullishness for Bitcoin. For example, in 2024, which is less than two months away, it predicts that the Bitcoin price will run as high as $109,364, with a yearly low of $29,564, which is the lowest it expects the asset’s price to be in the next seven years.
BTC bullish sentiment holds strong | Source:
Featured image from The Economic Times, chart from Tradingview.com
