What are crypto price forecasts based on?

This means that, while you will find analysts’ price forecasts for bitcoin and, occasionally the likes of ETH or the major altcoins, the overwhelming majority of crypto price forecasts are based on a computer program called an algorithm. An algorithm is something that allows something to do something automatically.

What are the crypto predictions for 2022?

In Analytics Insight, Sanyal says that market analysts predict that Bitcoin could hit USD $100,000 by the end of 2023, and others say it can climb to the mark in the first quarter of 2022. Others write that Bitcoin won’t reach more than USD $70,000 by the end of 2022. In short, crypto predictions are all over the place.

What is a cryptocurrency prediction algorithm?

When it comes to a cryptocurrency prediction algorithm, it has to deal with an incredibly volatile commodity and a market that is the subject to forces including, but not limited to, regulation, changes in availability and the overwhelming dominance of bitcoin.

Is cryptocurrency the future of stock prediction?

While the majority of publicly-traded companies’ share price predictions are often made by market experts, which means that a stock prediction algorithm is not as much of a go-to tool as it otherwise could be, cryptocurrency is a newer thing. Many cryptos have not really come across the radar of the stock experts.