Valentine’s Day is a day associated with love and passion, and for many investors, the love for Bitcoin (BTC) runs deep. They believe in the potential of digital currency and are willing to remove volatility in hopes of making great returns in the long run.
To celebrate Valentine’s Day, and to explore the holiday’s potential impact on Bitcoin gift purchases, Coinphony analyzed Bitcoin’s future performance in 2023 using AI predictions, as well as a retrospective review of Bitcoin’s past Valentine’s Day performance to determine any correlation.
In particular, machine learning algorithms on the crypto monitoring platform price forecast It estimated that the price of bitcoin would stand at $23,868 on February 14, 2023, according to data retrieved on January 24.
Indeed, compiling technical analysis (TA) indicators, including Moving Averages (MA), Moving Average Convergence Divergence (MACD), Relative Strength Indicators (RSI), Bollinger Bands (BB) and more, the platform’s AI predicts ( AI) Bitcoin price increase of 4.11% for Valentine’s Day.
Historical BTC prices for Valentine’s Day
Valentine’s Day 2021 saw new record highs of $49,000 on the day, but more than a year later, Bitcoin was already trading below that level, trading at just around $42,000.
It’ll be up to this year’s holiday to make amends and keep the romance alive, even if assets are close to half that value. But after a series of red monthly candles, bitcoin could be a buy again, making it a potential gift for loved ones this year.
As for the feeling TradingViews Technical analysis indicators on intraday measures were quite bullish, indicating a “buy” at 14, which is summed up by oscillators located in the “neutral” territory at 8, and the moving averages pointing to a “strong buy” at 14.
Bitcoin holiday price forecast
In particular, Coinphony’s historical analysis and predictions for Thanksgiving (with a $16,353 forecast ending with BTC trading at $16,256 at the start of the day) and Halloween (from $21,348 to $20,728 at the start of the day) proved proof. . perfectly accurate,
However, the Christmas forecast was not good, as the asset is expected to trade at $12,117 on December 25, 2022, according to CoinCodex.com’s forecast.
Meanwhile, as it stands, Bitcoin is trading at $22,924, up 0.13% in the past 24 hours and another 8.04% in the past seven days, for a total market cap of $441.7 billion.
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Post-Bitcoin Price Prediction for Valentine’s Day 2023; Does bitcoin bring some love? It first appeared on Coinphony.