Bitcoin (BTC) has broken above $30,000 for the first time since June 2022; the flagship digital asset will now seek support above $30,000 and push on to test higher highs.
Given the surge of over 80% year-to-date and considering that the adoption of Bitcoin has skyrocketed recently, nearing 1 million holders of at least one BTC and that it had outperformed the top five major indexes by 170% in the first quarter of 2023, it seems that the odds are firmly in its favor.
However, according to the thoughts of the crypto community over at CoinMarketCap, which has an 83% historical accuracy of predicting Bitcoin’s price over the last six months, the price of BTC will decline significantly by the end of April.
Should the estimations of 11,583 member votes prove true for April 30, it would mean that the price of Bitcoin by the end of April will trade at an average price of $23,561, a decline of -21.63% or -$6,501 at the time of publication.
Bitcoin technical analysis
Bitcoin’s technical analysis (TA) on TradingView’s 1-day gauges are bullish; its summary aligns with the ‘strong buy’ sentiment at 17, resulting from oscillators pointing at ‘buy’ at three and moving averages (MA) indicating a ‘strong buy’ at 14.
Currently, Bitcoin is trading at $30,114, up 6.12% on the day, with a total market capitalization of $583 billion, as per the data retrieved by Finbold on April 11.
Finally, the AI technology at PricePrediction estimates BTC to trade above $30,000 by the end of next month. The forecast sets Bitcoin’s price at $30,697 on April 30, 2023, notably a much different outlook to the Bitcoin community on CoinMarketCap.
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