As the majority of the cryptocurrency sector starts to move in a more bullish trend, its largest digital asset by market capitalization, Bitcoin (BTC), is no exception, with machine learning algorithms and important technological trends predicting more advances in the next couple of years.
Indeed, the self-learning machine algorithm deployed by the crypto tracking platform CoinCodex set the price of Bitcoin at $38,183 on December 31, 2023, suggesting that its value would increase by close to 23% from its current figures, according to the information accessed on June 30.
Furthermore, if the price of Bitcoin moves in the same growth pattern as that of the internet, mobile technologies, and large tech companies like Google (NASDAQ: GOOGL) and Facebook (NASDAQ: META), its average price by the end of 2024 could reach $62,193, an over 100% gain from its price at present.
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Specifically, if followed the internet’s path exclusively, it could reach the price of $38,887 by the end of 2024, following the growth of mobile tech could lead it to $38,233, mimicking Google’s expansion could end up at $56,838, whereas taking Facebook’s path could see it reach a whopping $114,812.
At the same time, the above logic indicates that the maiden cryptocurrency could reach an average price of $110,636 by the end of 2025 (up +256%), as its price based on the internet’s growth could reach $50,202, $48,942 where mobile tech is concerned, $88,713 if Google is any indicator, or $254,687 if it took the same road as Facebook.
Bitcoin price analysis
Meanwhile, the current price of the flagship decentralized finance (DeFi) asset is $31,067, which demonstrates an increase of 1.09% on the day, 3.15% across the week, and 14.62% on its monthly chart, as per the latest data retrieved on June 30.
Whether Bitcoin indeed manages to follow the path of one of the above technologies and reach the prices predicted will depend on the positive indicators on its charts, such as the lack of resistance that could push it toward $35,000, as well as the general atmosphere on the wider crypto market.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
