Bitcoin (BTC) Price Prediction 2024-2030: Will BTC Price Hit $75,000 Soon?

• The bullish BTC price prediction ranges from $67,000 to $70,000.
• BTC price might also reach $82,000 in 2024.
• BTC’s bearish market price prediction for 2024 is $21,564.98.

Bitcoin (BTC) is the most prominent cryptocurrency with tremendous growth potential. Over the years, BTC has also gained significant recognition in the economy, being acknowledged by governments and used as a medium of payment among users. Bitcoin was first defined as a decentralized digital currency in an essay published in 2008 under the identity of Satoshi Nakamoto. It debuted in early 2009, not long afterward.

As a decentralized digital currency, Bitcoin eliminates the need for a central authority to process or verify transactions. As Nakamoto put it, “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”

Although there have been earlier proposals for decentralized electronic currencies, Bitcoin is the first cryptocurrency to be widely used. Below, we detail the primary considerations that led us to this conclusion on Bitcoin’s future price. If you are interested in learning about BTC’s future and want to know its predicted value for 2024, 2025, and 2030, keep reading!

Bitcoin (BTC) Market Overview

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What is Bitcoin (BTC)?

Bitcoin is a decentralized digital currency that may be bought, sold, and exchanged without using an intermediary such as a bank. Satoshi Nakamoto, an unidentified developer or group of developers, introduced Bitcoin to the world in 2009.

All Bitcoin transactions are recorded in a public ledger, and copies are kept on servers worldwide. Anyone with a spare computer can set up a node or server. Instead of relying on a central source of trust like a bank, consensus on who owns which coins is achieved cryptographically among these nodes.

It has since become the world’s most well-known cryptocurrency, and its prominence has sparked the creation of numerous altcoins. These rivals attempt to replace it as a payment method or are utilized as utility or security tokens in other blockchains and new financial technologies. Furthermore, by influencing altcoins, Bitcoin has a tremendous impact on the digital asset market . 

Bitcoin (BTC) Current Market Status

According to CoinMarketCap , this flagship cryptocurrency is ranked first in terms of market capitalization. As a result, the market capitalization of BTC is $980,308,415,695, experiencing a 3.76% increase in 24 hours. Moreover, BTC’s 24-hour trading volume is valued at $38,527,537,770, recording a 101.91% increase in 24 hours, indicating a rising demand.

It seems that BTC’s market standing has attracted investors from all over the world. At the time of writing, BTC is priced at $49,949.75, witnessing a 16.85% spike in seven days.

Let’s now briefly examine the factors that could influence Bitcoin’s price.

Factors Influencing Bitcoin Price

Bitcoin started this year by reaching a new level in 2024. Additionally, BTC’s have been fluctuating positively and negatively based on various factors. What are the diverse factors that have been influencing BTC’s price? Let us now investigate the elements influencing the early and present BTC prices.

Factors That Influenced the Early Bitcoin Price

User adoption could be one of the factors that may influence the price of Bitcoin. The currency’s popularity can cause prices to rise, while a lack of demand for the currency might cause its value to fall. In the initial stages, BTC price surges were influenced by investors and early crypto community members demand. Individuals, governments, institutional investors, and multinational organizations are all adopting Bitcoin, so it is expected that the price will rise to new highs over the years.

Between 2012 and 2018, the number of Bitcoin addresses holding between 100 and 1,000 BTC steadily climbed, highlighting investors’ confidence in BTC. Additionally, as the mining difficulty reduced between 2012 and 2015, the price of Bitcoin also experienced a fall, only to rise again in 2016. BTC’s price and the difficulty of Bitcoin mining increased significantly between 2016 and 2017, considerably slowing down Bitcoin’s growth.

Unlike conventional money, Bitcoin has a fixed amount of 21 million. When 210,000 blocks are mined, the payout from Bitcoin mining will be cut in half. Since inception, the reward has been halved twice, dropping from 50 BTC to 12.5 BTC. This happens every four years, on average.

The halving of Bitcoin rewards has also significantly impacted the mining sector. The hash rate dropped after the first and second halvings but rebounded. Throughout 2018, as Bitcoin’s mining rewards fell, it was reported that few miners had left the industry, causing the price of BTC to fluctuate. However, there seems to be a broader acceptance of Bitcoin nowadays. It was observed that the hash rate started stabilizing at the beginning of 2019, indicating a bullish market.

Factors Influencing Current BTC Price

US Federal Reserve Policy: When the Fed raises interest rates, the value of fiat money falls, resulting in a drop in crypto market investment. The Fed meeting is a volatile event that traders must record on their calendars. 

As a result, the Fed’s interest rate hike could influence the crypto and stock markets by lowering the value of fiat money. Bitcoin and other cryptocurrencies have also seen a drop in investment as investors seek a safer, more rewarding alternative.

Industry Development: Market participants invest in new and innovative products to establish the Bitcoin market. For instance, Bitcoin’s Exchange-Traded funds (ETFs) provided by major financial institutions could drive BTC’s price up. 

Several crypto exchanges are expanding their scope to capitalize on the burgeoning Bitcoin and cryptocurrency sectors. The market incentives for Bitcoin decreased during the BTC halving event. Moreover, the price of Bitcoin has increased by almost 300% since May 2020, when the number of coins was cut in half. After observing the fluctuations, it was noticed that the price of Bitcoin increased by 8,000% and 600%, respectively, after halving price events in 2012 and 2016. Halving the mining incentive seems to substantially impact the price of Bitcoin, doubling the asset’s stock-to-flow ratio.

Bitcoin Taproot: Due to its higher transaction fees and slower transaction pace than other blockchains, Bitcoin has frequently been mocked as a blockchain by some users. However, the introduction of the Taproot upgrade, which addressed these issues and provided a framework for the Bitcoin blockchain to be more receptive to smart contracts, NFTs, and DeFi, received mixed user reviews. 

The Taproot upgrade saw a HODL-specific long-term effect because the network supports and processes several smart contracts, much like Ethereum. Investors and traders also observed that the Taproot upgrade made BTC’s price cross above $65,000 in November 2021.

Pros and Cons of Bitcoin

Let us all understand why Bitcoin is suited for today’s generation and must be handled correctly to avoid risks and losses. The following are some Bitcoin pros and cons.

Pros

• Bitcoin enables seamless transactions within a few seconds.
• Bitcoin’s wallet’s private key protects your BTCs from any hacking attempts.
• BTC offers verifiable and transparent transactions.
• Assets can be sent directly to a merchant without the interference of a third party.
• Growing acceptance of BTC leads to the asset’s great liquidity.

Cons

• BTC is volatile.
• Transactions are irreversible.
• Unsustainable process of BTC mining.
• Crypto wallet vulnerabilities – we cannot recover a lost private key.

Moreover, Bitcoin is one of the most discussed digital assets, and the crypto community still ponders BTC’s future price. Will Bitcoin’s value surpass $70,000? Let’s take a look at the Bitcoin price analysis for 2024. 

Bitcoin (BTC) Price Analysis 2024

At the start of the trading day in 2024, BTC was hovering between $42,000 and $43,000. After maintaining a horizontal trading pattern, BTC started to climb up, forming new high peaks for this year. Finally, after the formation of a long positive candlestick, BTC reached $45,582.79, creating a positive sentiment among traders. 

BTC/USDT 1-Day Chart (Source: TradignView )

Looking at the chart above, BTC also showcased a positive trend at the start of 2023. Similarly, BTC is once again gaining momentum (heavily influenced by demand), which could possibly indicate that 2024 will be a bullish year for BTC. Several other factors, such as spot BTC ETF applications’ approval, could be a crucial factor in pushing the crypto leader to new heights. Additionally, BTC halving would be another event that could create positive candlesticks in the chart.

Now, let us analyze BTC’s prices using various indicators.

Bitcoin (BTC) Price Analysis – Bollinger Bands

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

BTC/USDT 1-Day Chart Showing Bollinger Bands (Source: TradingView ) 

The chart highlights that BTC would often face retracement or trade horizontally when the candlesticks hit the upper band of the indicator. Additionally, the candlesticks were mostly trading in the green region of the Bollinger Band, highlighting the uptrend BTC experienced in the past year. The recently formed candlesticks are also trading in the green zone, which is seen as a positive sign for most traders. 

BTC/USDT 1-Day Chart (Source: TradingView )

After hitting the peak, the BBWP signalled the contraction of the Bollinger Bands as it fell below the signal line. At that time, the candlesticks began to consolidate as they formed highs and lows over a short period of time. Currently, the BBWP has, once again, started to climb above the signal line, indicating a possible expansion of the bands. It is expected that prices will move positively during the expansion period as the RTSI indicator is closing in on the signal line. 

Bitcoin (BTC) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered an overbought region, and traders expect the price to fall soon.

BTC/USDT 1-Day Chart Showing RSI (Source: TradingView ) 

After hitting the overbought region, the RSI started to fall, indicating that the traders were exiting the market trying to make short-term profits. However, with the start of the new year, the indicator climbed above the signal line. This cross is often viewed as a bullish signal, and traders expect the price to surge. The RSI is currently valued between 70 and 60, often considered an uptrend in the market. 

BTC/USDT 1-Day Chart (Source: TradingView )

In the above chart, the candlesticks were trading in the top-half of the RSI bands. Even though the candlesticks broke above the upper band, the price retraced; however, BTC was still able to maintain a position in the top-half of the RSI bands.The recently formed golden candlesticks also helped the crypto leader stay away from the bottom region.

Bitcoin (BTC) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at the 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. MACD plays an important role, as it can confirm trends and identify potential reversals.

BTC/USDT 1-Day Chart Showing MACD (Source: TradingView )

The MACD indicator, initially, indicates the presence of bears in the market, as the red bars can be visibly seen. However, it seems that the uptrend may continue over the short term as the MACD line is about to touch the signal line, forming a bullish cross. Moreover, the 50 SMA staying below the candlesticks is also considered a positive signal by most.

Bitcoin (BTC) Price Prediction 2024

BTC/USDT 1-Day Chart (Source: TradingView ) 

The above BTC/USDT 1-Day chart highlights that the candlesticks are behaving in a positive mood as the crypto leader remains above the green cloud. Additionally, Bull vs. Bear Power reflects that the bulls are in the market. If the buying volume continues to remain above 70%, there is a high chance that prices could continue to climb up.

With factors such as the anticipation of spot BTC ETF approval, BTC’s could experience a massive surge over the coming weeks or even days. Ideally, BTC is expected to trade near the $44K and $46K levels for some time before it reaches the $50K target level. To be exact, if BTC follows its 2021 upward momentum, it could easily break beyond the $52.9K level. After reaching $52.9K, the next level would be near $68K.

Bitcoin (BTC) Price Prediction 2024 – Resistance and Support Levels

BTC/USDT 1-Day Chart (Source: TradingView )

Observing BTC’s past price movements, the candlesticks showcased a highly bullish sentiment in 2021, reaching new price levels and a new All-Time high. Similar to 2021, 2024 is expected to be a highly bullish year, as there is a chance that it may reach All-Time high levels this year. Despite expecting a bullish sentiment, we can also expect a retracement if BTC shows high bullish trading patterns. Overall, after counting the factors, BTC has the potential to make a bull run. 

Bitcoin (BTC) Price Prediction 2025

2025 could be the year when the bull market may gradually face a weakness in its strength; however, it could still be experiencing an upward trend movement. In this scenario, traders may still expect a bull market with a slight fall in between, caused mostly by buyers’ massive entry. Ultimately, 2025 could drive the altcoin’s price upwards and reach the $94,000 level as buyers speculate a slight uptrend this year.

Bitcoin (BTC) Price Prediction 2026

It is expected that after a long period of bull runs, the bears will come into power and start negatively impacting cryptocurrencies. During this bearish sentiment, BTC could tumble into its support regions. However, when BTC remains in the oversold region, there could be a price correction soon. BTC, by the end of 2026, could be trading beyond the $87,000 resistance level after experiencing the price correction.

Bitcoin (BTC) Price Prediction 2027

After a long bear season, there may be a chance that the altcoin market will experience a gradual bull market. Moreover, the optimistic behavior the traders may show this year could be related to the BTC halving event coming next year. Hence, 2027 may see a lot of traders’ activity movements this year as they get ready for the next bull season! In 2027, BTC could reach $93,000 at the end of this year.

Bitcoin (BTC) Price Prediction 2028

Once again, the crypto community is looking forward to this year, as there will be a Bitcoin halving. Like many altcoins, BTC will continue to form new higher highs and is expected to move on an upward trajectory. Hence, BTC would be trading at $145,600 after experiencing a massive surge by the end of 2028. 

Bitcoin (BTC) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, BTC could be trading at $155,342 by the end of 2029.

Bitcoin (BTC) Price Prediction 2030

After witnessing a bullish run in the market, BTC and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, BTC could be trading at $150,997.

Bitcoin (BTC) Price Prediction 2040

The long-term forecast for BTC indicates that this altcoin could reach an all-time high (ATH). This would be one of the key moments, as hodlers may expect to sell some of their tokens at the ATH point. However, BTC may face a slight fall before starting its upward journey once again. It is expected that the average price of BTC could reach $472,904 by 2040.

Bitcoin (BTC) Price Prediction 2050

By 2050, we could assume that cryptocurrencies would be recognized as global assets, thus gaining significant status in the market. As traders and investors continue to grow and expect the market to show favorable conditions, BTC may experience a bullish trend and may create new All-Time highs during these 10 years. Therefore, we can expect BTC to reach a new level of $864,562 if it crosses all its expected resistance levels.

Conclusion

To summarize, if investors continue to show interest in BTC and add these tokens to their portfolio, then it could continue to rise. BTC’s bullish price prediction shows that it could pass beyond the $70,000 level in 2024. Moreover, BTC could surpass the $864,562 level by the end of 2050. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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