A significant part of the cryptocurrency sector, including the largest digital asset by market capitalization, Bitcoin (BTC), is showing optimism. Perhaps that’s why machine learning algorithms and important trends in the world of technology indicate that the king of cryptocurrencies will continue to progress in the next couple of years.
The self-learning algorithm of the analytical platform CoinCodex has forecasted that by December 31, 2023, the price of Bitcoin will reach $38,183, which is an increase of nearly 23% compared to the current figures.
Bitcoin Price Forecast for 6 Months. Source: CoinCodex
Furthermore, if Bitcoin follows the same pattern as stocks in the internet, mobile technology, or major tech companies such as Google and Facebook, its average price by the end of 2024 could reach $62,193, which is approximately 100% higher than the current value.
In particular, if the trend of internet companies repeats, the asset could reach $38,887 by the end of 2024. If Bitcoin follows the path of mobile technology, it could touch $38,233. Replicating the Google trend could raise the price to $56,838, while following the path of Facebook could push the digital asset to a staggering height of $114,812.
By the end of 2025, according to the aforementioned logic, the primary cryptocurrency could reach an average price of $110,636 (+256%). The probable price if it replicates the trend of internet companies would be $50,202, and if it follows the path of mobile technology, it would be $48,942. Following the Google trend could give Bitcoin a price of $88,713. According to the algorithm’s estimates, replicating the trend of Facebook could push the asset to a price of $254,687.