After surging to an all-time high near $73,000 in March and creating unending frenzy around the highly anticipated halving event in April, Bitcoin (BTC) has fallen somewhat.
The world's top cryptocurrency has struggled in recent weeks with lackluster performance and a series of sharp corrections, at times sending it plummeting to $57,000.
The recent trading trend is positive, as BTC is up 3.18% on the 24-hour chart, with today's Bitcoin price at $62,907, but it casts a big shadow given the weekly and monthly volatility. .
Finvold offers some clarity on whether Bitcoin is trending towards a previously predicted high, or whether the more bearish experts are correct and the current cycle has already crested. Forecasting asset prices – price prediction.
Machine learning algorithm predicts gradual upward trend
After all, the algorithm price prediction It is estimated that the cryptocurrency market has passed a highly volatile phase, at least when it comes to Bitcoin.
In fact, the platform expects BTC to gradually enter an upward trend and reach $63,991.20 on May 31st. This is a slight increase of 1.725% in two and a half weeks.
While the algorithm sees some deviations from the overall stable rally, it also seems to estimate that these will have little impact on Bitcoin's performance during the remainder of May.
Experts agree on future volatility
While algorithms believe that a fairly uncharacteristically steady rally lies ahead, several crypto experts predict big swings and even trouble on the horizon.
In an analysis posted to X on May 12th, Ali Martinez identified $64,290 as the key price that BTC should achieve. According to experts, if Bitcoin achieves this goal, it will likely experience a massive rally towards its all-time high (ATH) of $76,610.
On the contrary, if it fails to achieve the rally to $64,290, the world's best cryptocurrency could quickly lose its footing and regain ground only at around $51,970.
Another well-known cryptography expert, Michael van de Poppe, said: advised He is cautious if Bitcoin falls below $60,000 again, as he believes it will continue to collapse until it enters the support zone between $52,000 and $55,000.
But perhaps it's worth noting that on April 30th, van de Poppe estimated that Bitcoin would find a bottom within a week, suggesting that the then-identified level of just under $57,000 was the immediate market for BTC. This indicates that it will be the lowest price.
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