Skip to content

Crypto community with 81% historical accuracy sets Bitcoin price for March 31, 2023

Crypto community with 81% historical accuracy sets Bitcoin price for March 31, 2023

While Bitcoin (BTC) rallied for the first 45 days of the year, its price has been more bearish in recent weeks due to the United States Securities and Exchange Commission’s (SEC) continued crackdown on crypto firms and Silvergate Capital Corporation, the holding company of crypto-focused Silvergate Bank decision to wind down operations.

The volatility has left many in the cryptocurrency community confused about the future price of the maiden digital asset, with many traders turning to deep learning algorithms to forecast the coin’s price for the end of the month. 

Besides the artificial intelligence (AI) price estimation, the thoughts of the crypto community over at CoinMarketCap, which have an 81% historical accuracy of predicting Bitcoin’s price over the last six months, are also worth examining. Notably, the most recent estimation accuracy for the end of February was 89.63%.

Bitcoin 6-month estimation accuracy. Source: CoinMarketCap

Should the estimations of 12,377 member votes prove true for March 31, it would mean that the price of Bitcoin by the end of March will trade at $21,192, a decline of -2.43% or -$528 at the time of publication. 

Bitcoin end of March price estimation. Source: CoinMarketCap

Bitcoin technical analysis

Bitcoin’s technical analysis (TA) on TradingView’s 1-day gauges remains mixed; its summary aligns with the ‘sell’ sentiment at 11, resulting from oscillators pointing at ‘buy’ at 3 and moving averages (MA) indicating a ‘sell’ at 10.

Bitcoin 1-day trading gauges. Source: TradingView

In the last 24 hours, Bitcoin was trading as high as $22,198 and fell to as low as $21,588. Currently, Bitcoin is trading at $21,733, down 1.12% on the day and a further 6.51% across the previous week, with a total market capitalization of $420 billion, as per the data retrieved by Finbold on March 9.

Bitcoin 1-day price chart. Source: Finbold

Due to the fact that it was unable to break through the crucial $22,250 resistance zone, investors’ expectations for a rebound in the price of Bitcoin were disappointed. The price continued to fall, breaking below the $22,000 mark that was acting as support as relentless bears exercised their impact. 

This steep collapse helped prepare the way for even higher losses as the price continued to fall to set a new monthly low. At this time, the price of Bitcoin is consolidating the losses it has sustained over this turbulent period.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts