Wrapped Bitcoin Price Prediction
(WBTCUSD)$63,374$62,727.59 (4.36%)Market Stats and Forecasts
Wrapped Bitcoin Description
Wrapped Bitcoin (WBTC) is an innovative cryptocurrency that bridges the gap between the established world of Bitcoin and the rapidly evolving realm of Decentralized Finance (DeFi). Launched in January 2019, WBTC is an ERC-20 token on the Ethereum blockchain, essentially a digital unit built on Ethereum that functions similarly to other tokens on that platform. However, unlike other ERC-20 tokens, WBTC holds a unique characteristic: it's directly tied to Bitcoin. Each WBTC token is backed by one Bitcoin (BTC) held in reserve by a custodian. This one-to-one peg ensures that the value of WBTC closely follows the price of Bitcoin.
A "proof of reserve" system maintains transparency and trust, allowing anyone to verify that the custodian holds enough Bitcoin to back all the circulating WBTC tokens. Without relying on centralized entities, WVTC can be easily traded on DEXs. Token holders can deposit their WBTC to borrow other crypto tokens and earn interest. WBTC can be used for margin trading. It also permits other financial parties to advance financial strategies.
Bitcoin holders gain access to the vast DeFi ecosystem on Ethereum. WBTC transactions are processed quicker than native Bitcoin transactions. Users can participate in DeFi while maintaining their Bitcoin holdings. Remember, WBTC introduces an element of centralization via the custodian holding of Bitcoin reserves. .
Forecast Based on AI Model
Drawing insights from our analysis that integrates historical price movements of Wrapped Bitcoin, Our analysis, guided by the machine learning experts, yields forecasts for Wrapped Bitcoin price trajectory up to 2024. With a comprehensive understanding of Wrapped Bitcoin historical price movements and utilizing advanced algorithms, our team has derived predictions with a mean absolute error (MAE) value of 2 and an error value of 0.34%.
For the year 2024, our analysis indicates a projected yearly low of $59,067.02, with the high anticipated to reach $91,825.63. These forecasts are the outcome of a comprehensive approach designed to provide investors with reliable insights for strategic decision-making.
Prediction Table based on AI Model
| Date | Low | Average | High | ROI |
| 2024-07-01 | 60,304.07 | 62,226.26 | 64,073.08 | -2.22 |
| 2024-07-02 | 61,630.76 | 63,614.5 | 66,124.67 | -0.07 |
| 2024-07-03 | 63,606.8 | 64,262.34 | 65,553.94 | 1.03 |
| 2024-07-04 | 62,957.75 | 64,268.83 | 65,553.94 | 1.03 |
| 2024-07-05 | 62,994.09 | 65,021.71 | 67,587.41 | 2.14 |
| 2024-07-06 | 64,379.96 | 66,432.07 | 68,403.71 | 4.39 |
| 2024-07-07 | 66,481.7 | 67,879.87 | 69,908.59 | 6.68 |
| 2024-07-08 | 65,796.32 | 68,647.49 | 71,279.35 | 6.68 |
| 2024-07-09 | 67,944.3 | 70,129.73 | 72,847.5 | 9.03 |
| 2024-07-10 | 70,154.94 | 71,615.31 | 73,018.41 | 11.43 |
| 2024-07-11 | 70,926.64 | 72,417.55 | 74,545.35 | 12.65 |
| 2024-07-12 | 69,479.16 | 72,489.92 | 75,269.09 | 12.65 |
| 2024-07-13 | 71,007.7 | 73,293.26 | 76,185.35 | 15.13 |
| 2024-07-14 | 72,536.59 | 74,047.15 | 75,527.79 | 16.40 |
| 2024-07-15 | 74,896.65 | 77,281.11 | 79,482.15 | 18.96 |
| 2024-07-16 | 74,132.39 | 76,493.93 | 78,717.9 | 18.96 |
| 2024-07-17 | 74,947.85 | 77,358.54 | 80,356.46 | 20.27 |
| 2024-07-18 | 74,991.12 | 76,569.06 | 78,896.91 | 21.59 |
| 2024-07-19 | 76,553.43 | 77,342.4 | 78,896.91 | 21.59 |
| 2024-07-20 | 77,395.52 | 79,006.61 | 80,554.52 | 22.93 |
| 2024-07-21 | 76,544.17 | 78,981.09 | 81,230.55 | 21.58 |
| 2024-07-22 | 76,596.5 | 78,191.6 | 79,755.12 | 22.91 |
| 2024-07-23 | 74,972.97 | 76,550.53 | 78,877.81 | 21.56 |
| 2024-07-24 | 75,693.02 | 76,473.12 | 78,010.16 | 20.22 |
| 2024-07-25 | 76,568.9 | 78,163.43 | 79,726.38 | 22.87 |
Wrapped Bitcoin Price Prediction 2025
According to our analysis conducted via our Machine Learning Model,Wrapped Bitcoin is forecasted to achieve its peak value in 2025 at approximately $130,616.04, while potentially dipping to a low of $67,335.38. The average trading value during this period is projected to hover around $118,398.24.Wrapped Bitcoin Price Prediction 2026
In 2026, Wrapped Bitcoin is anticipated to potentially reach its peak value of $189,848.4, with a possible lower value of $104,416.67. The average trading value for this period is estimated to be approximately $170,846.76.Wrapped Bitcoin Price Prediction 2027
As we look ahead to 2027, the trajectory of the Wrapped Bitcoin coin may offer investors unexpected turns. Projections suggest peaks hitting $295,239.33 and lows stabilizing around $141,728.74, with an average trading value resting near $269,199.76.Wrapped Bitcoin Price Prediction 2028
In the upcoming year of 2028, investors may witness noteworthy fluctuations in the value of the Wrapped Bitcoin coin. Projections point towards a maximum value of $424,015.72, a minimum of $228,590.11, and an average value of approximately $376,419.Wrapped Bitcoin Price Prediction 2029
Our market analysis indicates optimistic prospects for the Wrapped Bitcoin crypto in 2029, with projected peaks at $639,333.86 and floors at $332,405.33. Moreover, the average trading value of this coin is anticipated to hover around $573,345.47.Wrapped Bitcoin Price Prediction 2030
In 2030, our crypto analyst team and Machine Learning experts envision a varied outlook for the Wrapped Bitcoin token. Projections indicate highs near $1,047,948.12, potential lows around $523,738.49, with an average value of about $935,531.86.Following the presentation of our forecast table, we provide users with convenient procedure links, offering insight into the comprehensive steps taken to derive our predictions. These resources afford transparency into our analytical process, detailing methodologies, data sources, and algorithms used to formulate forecasts, empowering users to grasp the intricacies behind our predictions.
Forecast Based on Technical Analysis
Bitcoin's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strength Index - RSI (14)
Both the 200-day and 50-day Simple Moving Averages (SMA) are forecasted to rise, with the former expected to reach $63,794.3 by the Jul 01, 2024. The Relative Strength Index (RSI) stands at 0.7719, indicating a Neutral market stance. Overall, while the long-term forecast is Buy.
About wbtc
Wrapped Bitcoin Price Prediction FAQ
Kshitez Pratap Singh
Kshitez Pratap Singh possesses deep expertise in data analytics and machine learning. He excels at deriving actionable insights from complex datasets. Kshitez combines his analytical skills and machine learning knowledge to develop models that support data-driven decision-making, helping businesses and investors navigate and thrive in the finance niche.
Mohit Kumar
Mohit Kumar is a computer science engineer with a specialization in Artificial Intelligence and Machine Learning (AIML). he has honed his expertise in developing sophisticated machine-learning models tailored for the financial sector, exploring various aspects of forecasting and statistical modeling to provide invaluable insights for informed investment decisions in the volatile world of cryptocurrencies.
Sentiment: Buy
The Wrapped Bitcoin is predicted to surge by 14.95% to $70,129.73 by Jul 09, 2024, though current indicators show a Bullish sentiment with 13 out of 30(43%) green days and a notable -7.42% price volatility over the past month.