Analyst says bitcoin ended last week with the best result since March of this year
On June 23, Bitcoin tested the $31,000 level, but then the price of the crypto coin dropped. According to Coinmarketcap, BTC is currently worth $30,300. Over the past 7 days, the digital asset has risen in price by 15%.
BitRiver analyst Vladislav Antonov pointed out that “Bitcoin ends the week with the best result since March 2023.” He believes that the growth of cryptocurrency may continue this week, as market participants “become more cautious and avoid risky investments.” Investors will monitor information on inflation rates in the US and Europe, as well as monitor the appeals of regulators’ representatives at the ECB forum.
“One of the key reports to be released in the US next week is the Personal Consumption Expenditure (PCE) report due on Friday (June 30). Underlying PCE is expected to rise 0.4% in May, while the annual rate remains at 4.7%. In addition, we will receive data on personal expenses and income. While Thursday’s GDP data is an update, market participants may choose to ignore it. Jobless claims will also provide new clues about the state of the labor market,” Antonov said.
At the same time, he allowed a correction to $29,650 in the future, which may begin after Bitcoin reaches a maximum of $31,850. The BitRiver analyst believes that the BTC growth period may last until the third decade of the current month.
Meanwhile, the journalists of the media Bitcoin com decided to find out the forecast for the bitcoin rate at the end of this year. To do this, they used neural networks.
The digital assistant Bard, created by Google, believes that on December 1, the value of BTC will be in the $30,000-$50,000 fork. If the macroeconomic situation turns out to be not very favorable, then the rate of the first cryptocurrency is unlikely to rise above $30,000.
And artificial intelligence Claude, developed by Anthropic, suggested that at the end of 2023 the price of BTC will be about $42,000. This forecast is based on historical data, taking into account various macroeconomic factors.
Chatbot Bing predicts Bitcoin to rise to $40,000. Artificial intelligence explained its version by the fact that in 2023 investors will accumulate BTC in anticipation of halving, which is expected in the spring of next year, so the price of the main digital coin will gradually increase.
