AI Forecasts Bitcoin Price at $72,300 on March 1

▲ Bitcoin (BTC)/ChatGPT-generated image ©

As Bitcoin (BTC) has settled into a range following a short-term sharp decline, an artificial intelligence model presented a price target of $72,300 for March 1, placing greater weight on the possibility of a gradual rebound.

According to cryptocurrency-focused media outlet Finbold on February 16 (local time), after roughly $450 billion in market capitalization evaporated in recent weeks amid extreme volatility and downward pressure, Bitcoin has shown signs of stabilization between $64,000 and $71,000. As of the time of writing, it was trading at approximately $69,700.

Amid these movements, some market observers have raised the possibility that Bitcoin is approaching a cycle bottom. In particular, the Digital Asset Fear & Greed Index fell to a record low in early February, suggesting that bearish sentiment may have peaked. However, some institutional experts view the current bearish scenario as excessive and are instead placing more weight on the possibility of a renewed attempt at all-time highs.

Against this backdrop of stabilization and contrasting outlooks, Finbold reviewed a short-term price forecast from an advanced AI model. As of February 16, the model assessed that Bitcoin had entered a consolidation phase following a major correction and noted there were no clear catalysts likely to trigger an immediate sharp price swing.

However, considering the deep correction at the end of January and in early February, the model analyzed that an upward tilt is more likely in the short term. Taking into account the spread of fear, continued institutional adoption trends, and a mixed macroeconomic environment, it explained that a typical range-bound pattern is likely to persist over the next two weeks.

Accordingly, the AI presented a Bitcoin price target of $72,300 for March 1. It added that this projection assumes no major news events and represents the most probable scenario within the current support and resistance structure.

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