The cryptocurrency market currently presents a confusing scenario for investors.

Bitcoin (BTC) has once again attracted attention this week, showing notable price changes amid a global economic shift and cryptocurrency-related developments.

As of April 18, Bitcoin price today hovers at $61,080, down by approximately 13.85% over the past week and losing over $180 billion from its market cap.

According to predictions from artificial intelligence (AI) machine algorithm models, BTC is expected to see a bearish trend in the long term, suggesting a projected decrease of minor 1.7%, with a target price of $60,044 by May 1.

Beside AI predictions, crypto expert Ali Martinez thinks that key support levels will determine BTC’s direction. If Bitcoin falls below $62,300, the analyst suggests it could drop to $56,200. Conversely, a rise above $62,300 could signal a potential upswing to $66,500.

Both the halving and the dollar’s strength are likely to be key factors influencing Bitcoin’s future price movements. Historically, Bitcoin has benefited from a weak dollar, with its price rising as the dollar falls.

However, halving event makes it difficult to predict Bitcoin’s future direction.

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