Bitcoin Price Drop Incoming? – Detailed Forecast & Market Analysis (May 17, 2023)

Our present forecast suggests that Bitcoin’s price is set to decline by -8.54%, potentially hitting $24,715 by May 22, 2023. The prevailing market sentiment, as indicated by our technical metrics, is bearish, with the Fear & Greed Index at a neutral stance of 50. Over the past month, Bitcoin has seen 11 out of 30 days in the green, a rate of 37%, accompanied by a price volatility of 3.39%. Given our current Bitcoin prediction, it seems unfavorable to invest in Bitcoin at this time.

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