The green color dominance has emerged in the crypto money market again. The leading crypto Bitcoin (BTC) has returned to the $22,000 threshold again. The popular meme coin Shib Inu (SHIB) also recorded a strong increase. CoinMarketCap crypto community and machine learning algorithm predict where BTC and SHIB prices will be by the end of January.
Crypto community sets SHIB price for January 31, 2023
After the market’s strong start to 2022, cryptocurrency traders and investors are once again discussing the Shiba Inu (SHIB). Many believe that SHIB has the potential to reach the heights it achieved in 2021. Given the developments in the SHIB network and the ongoing token burn, with data from Jan. 20, the Shiba Inu appears to be among the least valued assets based on short- and long-term returns.
Accordingly, according to the results of the votes cast by the CoinMarketCap crypto community on January 20, it is expected that SHIB will be traded at an average price of $0.00001064 on January 31, 2023. If these predictions come true, that means the SHIB price will drop another 7.09%, or $0.0000008119, by the end of January.
SHIB social average price forecast / Source: CoinMarketCapIt historically predicted SHIB price with 68.31% accuracy, taking into account the performance of the SHIB community’s forecasts for the previous six months.
Historical data for SHIB forecasts / Source: CoinMarketCapAI predicts SHIB price for February 1
The machine learning algorithm at PricePredictions shows that compared to the crypto community, SHIB is likely to trade slightly higher towards February. According to AI technology SHIB uses technical indicators such as the moving average (MA), moving average convergence divergence (MACD), relative strength index (RSI) and Bollinger Bands (BB), among others, to make its forecast, the Shiba Inu is on Feb. It will be traded at 000011 dollars. Currently, the Shiba Inu is trading at $0.00001147, up 0.62% on the day and 18.11% on the previous seven days.
SHIB 7-day price chartcryptocoin.comAs you follow, the upbeat market mood and positive events in its ecosystem, such as the SHIB team’s long-awaited announcement of the core principles of the layer 2 Blockchain Shibarium, contributed to the rise of SHIB.
Crypto community sets Bitcoin price for January 31, 2023
After a brief bullish rally, the overall cryptocurrency market has woken up in a sea of red again. However, today he managed to get back to the green zone in his yen. Bitcoin (BTC) is up 3.46% on a daily basis. However, the crypto community is less optimistic about the future price of BTC.
According to the results of the votes cast by the CoinMarketCap crypto community on January 19, Bitcoin will change hands on January 31, 2023 at an average of $ 19,368. If the community’s prediction turns out to be correct, it means that by the end of January, the price of Bitcoin will drop another 11.43%, or $2,500, compared to its current value of $21,868 at press time.
Bitcoin social average price prediction / Source: CoinMarketCapIf we take into account the performance of the crypto community’s forecasts for the previous six months, the community has historically determined the BTC price with 71.75% accuracy.
Bitcoin social prediction accuracy / Source: CoinMarketCapAI predicts BTC price for February 1
Meanwhile, machine learning algorithms at PricePredictions had previously predicted that Bitcoin would trade at $21,382 on February 1, 2023. Unlike the crypto community, the machine algorithm continues to rise. Also, more recently it set the price at $21,239.
Bitcoin 30-day price prediction chart / Source: PricePredictionsAlso, the technical analysis (TA) of Bitcoin on TradingView’s 1-day indicators remains positive. The summary aligns with the ‘buy’ sentiment at 14, which is a result of oscillators showing ‘buy’ at 2 and moving averages (MA) showing ‘strong buy’ at 12.
Bitcoin 1-day technical analysis / Source: TradingView
