Does AI predict Bitcoin surging higher in February 2023?
Last Updated on 6 November 2023 by CryptoTips.eu
After Bitcoin ended January with gains of some 43%, the best month of January since 2013, expectations are also high for February.
The latest developments are certainly positive. The Fed continues to raise interest rates, but only by 0.25% per time as from now, Elon Musk seems ready to integrate crypto payments into Twitter and in Nigeria, a country of 200 million inhabitants, Bitcoin is trading as much as 60% more expensive than usual as the central bank there tries to limit the withdrawal of normal fiat money from ATMs .
The price of 1 Bitcoin on the Nigerian crypto exchange NairaEX, meanwhile, is 17.2 million nairas, which equates to a good $37,500. That’s a hefty premium over Bitcoin’s current market price, around $23;900 at the time of writing.
ChatGPT
If we look at the Fear & Greed Index, we can see it’s turning positive again for the first time in a long time . At the time of writing, it is quoted at 60, which means that investors are rather positive about the course of the month of February.
And finally, following ChatGPT, there is also the latest AI (artificial intelligence) price prediction tool that shows you what the machine learning algorithm thinks the price of Bitcoin will do in the coming days and weeks.
That also seems quite positive. According to their AI, Bitcoin will definitely reach $24,500 to even $25,000 in February 2023, about the level that Peter Brandt already indicated.
So all lights are turning green apparently. We’ll check at the end of February whether this prediction is correct.
