Bitcoin (BTC) price has bounced 2% in the past 24 hours to currently trade above $27,400.
Polkadot (DOT) price on the other hand is around $5.40 as bulls assess a critical resistance zone. 
As the AltSignals (ASI) presale gathers momentum, we look at what the Bitcoin price prediction could mean for ASI and DOT.

Bitcoin bulls might yet reclaim control above $27,000 after pushing from the brink of fresh collapse when prices dipped under $26,000 last Friday (BTC price indeed touched $25,810 on crypto exchange Coinbase).

As analysts remain bullish on bitcoin price, what does the move to reclaim the uptrend mean for the broader crypto market? What about the AltSignals and Polkadot prices?

Bitcoin price prediction

BTC price is back above $27,000, with bulls having retested resistance above $27,600 in the past 24 hours. The rebound has market experts predicting further resilience for the price of the benchmark cryptocurrency.

The broader expectation is that holding above the $27k level could open up an upside retest of $30k – a key technical level where an upward breakout could put BTC on the path to new year-to-date highs.

Analysts have suggested Bitcoin could yet go parabolic in 2023 as a new bull cycle takes shape ahead of the upcoming BTC halving. 

The important network event is now less than a year away and has historically been bullish for the flagship cryptocurrency. The enthusiasm that could build ahead of the even has the potential to help altcoins tick up too. 

For projects such as Polkadot and AltSignals, a rallying crypto market offers a chance to build momentum.

What is Polkadot?

Polkadot is a blockchain platform that is leading the new trajectory of interoperability. The protocol connects different blockchains, or parachains, allowing for the development of new use cases as chains easily communicate with each other. In this case, Polkadot allows for such uses as running of smart contracts, data storage and token issuance.

As the world of an interoperable Web3 grows, Polkadot’s ecosystem is taking on an even greater outlook as one of the leading blockchain platforms. Interoperability, security and scalability mean the platform is taking on an integral role in the decentralised finance (DeFi) and non-fungible tokens (NFTs) ecosystem.

While there’s more likely to come from the team, the potential to revolutionise the blockchain space is already possible with cross-blockchain transfers – including across Bitcoin and Ethereum.

Polkadot price prediction

The price of DOT, the native Polkadot token is currently $5.40. The token is in the green on the daily timeframe. However, according to data from CoinGecko, DOT/USD is negative in the past week and month. It’s also down more than 90% from its all-time high of $54.98 reached on 4 November, 2021.

DOT is poised at a critical support area as shown on the daily chart. The immediate targets for buyers are at the tough resistance line marked by the 50 and 200 MA around $5.87 and $6.10. The downside potential suggests bears can in the short term target the primary support area near $4.22.

What is AltSignals?

AltSignals launched back in 2017 and has grown its popularity as one of the leading trading signals platform in the world. Since rolling out its services, the platform has provided traders with signals for crypto, stocks and forex – with a growing degree of accuracy thanks to its AltAlgo indicator.

Now the platform’s team is looking to take the trading tool to the next level using artificial intelligence and blockchain technology. The new direction for AltSignals involves taking the already successful AltAlgo system and revamping its capabilities via an AI-powered layer. 

AltSignals’ new AI-powered platform and ASI token

AltSignals’ new AI enabled platform is called ActualizeAI and is set to go live for the public in the coming months.

ActualizeAI integrates the capabilities of machine learning via regression and predictive modelling. It also uses natural language processing via AutoML and natural language API, for an artificial intelligence layer that offers reinforcement learning to the trading algorithm.

The result is more accuracy for predicted price patterns from historical data and market trends, offering traders a chance to apply top signals to trades across any market conditions.

To give traders an opportunity to enjoy the features and more from the AI ecosystem, AltSignals has unveiled a cryptocurrency token with the ticker symbol ASI. The token is currently accessible to investors via the AltSignals presale, available here.

AltSignals price: how high will ASI go during the presale

ASI currently sits at $0.015 after jumping from $0.012 when the token launched a few weeks ago. With the current stage of the AltSignals presale about to end, the ASI price will increased by 25% $0.01875.

From here, the price of the ASI token is set to increase by another 25% to $0.021 and will have risen to $0.02274 at the end of stage five of the presale. Thereafter, ASI will list on major cryptocurrency exchanges, with the potential to see a massive increase as demand explodes amid the launch of ActualizeAI.

Can ASI token price reach $1 in 2023?

With the crypto markets’ volatile nature in perspective, it is not possible to say with certainty where the AltSignals price will be at the end of 2023. However, with the project already a successful business, its possible the impetus within the AI ecosystem – highlighted here amid Google’s mega move last week – could propel ASI higher.

The targets of $0.05 and $1 could be achievable in this time frame should the crypto market rally in a new bull cycle catalysed by huge gains for BTC. Building on this momentum could then offer bulls a chance to target the psychological $1. 

On the flipside, a dump in market sentiment, with macroeconomic headwinds prevailing, could see Bitcoin price retreat to lower support levels and trigger a broader slowdown in the altcoin market.

But with ASI largely a bargain at presale prices, investors can still look to tap into the potential gains. The advice is to do your own research and due diligence as you target an investment, noting that various factors can trigger a market sell-off.

If you see ASI as a discount buy at current prices, learn more about the project from the whitepaper or by visiting the AltSignals presale page.

The post AltSignals and Polkadot price outlook as Bitcoin bounces above $27k appeared first on CoinJournal.

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Filed under: Bitcoin - @ May 15, 2023 12:28 pm