Crypto AI forecast: Bitcoin set to reach $33,329 on 31 July, upholding bullish momentum

In a remarkable turn of events, Bitcoin reached the $30,000 milestone in June, marking a significant achievement for the cryptocurrency this year. Surpassing expectations, BTC has managed to maintain its position around $30,800, garnering increased interest from institutional investors.

The entry of Exchange Trading Funds (ETFs) into the market has propelled Bitcoin's price higher on the charts, instilling optimism among traders and investors. The longer Bitcoin sustains its hold at the $30,000 level, the more it attracts bullish sentiments across the indices.

Over the past 30 days, Bitcoin has remained predominantly in the green for 17 of those days. With a historical track record of delivering substantial profits in July, 2023 is shaping up to be no different for Bitcoin.

PricePredictions forecasts Bitcoin to reach $33,329 by end of July

Leading on-chain metrics and forecasting firm, PricePredictions, paints a bullish outlook for Bitcoin in July, predicting a potential high of $33,329 on 31 July, 2023 based on machine learning. This projection suggests an approximate 11 percent return on investment (ROI) within the next four weeks, offering investors a profitable opportunity with BTC this month.

PricePredictions' forecast considers technical indicators such as moving average convergence divergence (MACD), relative strength index (RSI), and Bollinger Bands (BB), among others. Bitcoin may experience an upward trajectory this month, the entire cryptocurrency market is likely to receive a much-needed boost.

Leading altcoins can move in sync with Bitcoin, presenting investors with the chance to secure decent profits. At present, Bitcoin is trading at $30,855, showing a marginal decrease of around 0.7 percent in the past 24 hours.

However, it is worth noting that BTC has witnessed a decline of approximately 56 percent from its all-time high of $69,044, reached in November 2021. The market has witnessed a lackluster performance since then, dampening the spirits of both retail and institutional investors throughout 2022 and 2023.

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