Predicting Bitcoin’s (BTC) price at any point in the future, or the price of any other cryptocurrency, is a very tricky business. There are a multitude of non-linear factors that influence the crypto markets. However, Nomics has released 7 day price predictions for Bitcoin (BTC) and numerous other cryptocurrencies that can be viewed at this link. These are generated via machine learning processes, which is essentially a form of Artificial Intelligence (AI).

At this time Nomics is predicting that the price of Bitcoin (BTC) will decline below $7,000 one week from now, while Ethereum (ETH) will rally over 12%, and Tezos (XTZ) will rally 16%.

So how exactly are these price predictions calculated? The exact method is proprietary and not disclosed. The general premise is that the AI is fed historic trading data from cryptocurrency exchanges and over time the AI theoretically becomes more accurate as it accumulates more and more data.

That being said, these predictions include a 30 day mean error, which is the average error for the predictions. In the case of Bitcoin (BTC) the 30 day mean error is over 7.5%, which exceeds the price prediction at this time of -2.8%. So, when factoring in the error, Bitcoin (BTC) could be up or down a week from now according to the Nomics AI, although with a bias towards being down.

Zooming out, for now the Nomics price predictions are not that accurate and should not be taken as investment advice. It seems possible, however, that AI has the potential to become powerful enough to predict crypto markets in the future.