Planning to trade or invest in Bitcoin? This Bitcoin price prediction will give you details on whether it will be a good decision.
Who would have thought that a time would come when you would make payments without using traditional banks or caring about government regulations? The time has come and has been here for over a decade. People worldwide now make fast transactions round-the-clock without waiting for intermediaries. Bitcoin made this possible. The best part? Bitcoin has a market cap worth more than many global banks, including JP Morgan Chase.
It is no surprise that many investors worldwide are moving their dollars and converting them into Bitcoin. Big public companies, including Tesla, Square, and Microstrategy, also invested heavily in the Bitcoin ecosystem. The reasons for these are obvious. The price of BTC itself has also been a determining factor. Imagine going from $145 in 2014 to $15,000 in 2018; then going down to $4,000 in 2018 and hitting $65,000 in 2021. That’s how incredibly BTC has been performing. Now, people are going over their heads to get more before it explodes again.
Latest Bitcoin News That Could Drive Price Action
Some of the recent big news around Bitcoin is that former crypto doubters appear to be investing in the ecosystem. Take Warren Buffet, for example. The business mogul had always looked down on Bitcoin’s potential. Interestingly, Buffet invested $1 billion in a Bitcoin-friendly neobank– Nubank. Nubank is also the largest FinTech company in Brazil.
In similar news, Fidelity International just listed its first Bitcoin Exchange-Traded Product (ETP) in Switzerland and Germany. This exciting news has excellent potential to help Bitcoin’s price rise to better levels.
Bitcoin (BTC) Historical Price Performance
The price-performance of the most popular cryptocurrency has been nothing short of incredible. Bitcoin has always had great potential since it launched in 2009. In 2010, Bitcoin was worth $0.0008. However, BTC started getting some attention in 2011 when it raced to $1. At that point, there were still many doubts about its relevance to individuals, businesses, and economies.
By 2013, the price of BTC was at $123 – a move that nobody saw coming. Fast forward to February 2014, the price of 1 BTC was around $827. A price drop occurred in early 2015 as BTC dropped to $237. Many people who criticised the project thought it was the end, and some even claimed the BTC price would go to zero.
Fortunately for holders, and unfortunately for doubters, Bitcoin’s price moved up to $17,000 in December 2017. While the price has had ups and downs, Bitcoin has gone as high as $65,000 in February 2021. As of this writing, the current price of BTC is $43,921, with many predicting that $100,000 is not so far away. So will BTC eventually reach $100,000? This Bitcoin price prediction will tell us the opinions of technical analysis projections and crypto experts.
Bitcoin (BTC) Price Predictions and Technical Analysis
Technical analysis is a great way to make future predictions in the crypto market. So, this Bitcoin technical analysis will provide a complete BTC price prediction from several experts and technical analysts. Read on.
Bitcoin Price Prediction 2022
Not many cryptocurrencies have great potential like Bitcoin. This exceptional trait is one of the reasons Bitcoin maximalists like to call it the king of cryptocurrencies. So, will the king still wear its crown in 2022? Let’s see what some technical analysts think in this Bitcoin price prediction.
According to Wallet Investor, Bitcoin price prediction might not be up to $100,000 by December 2022. However, the analysts expect BTC to end 2022 with a new all-time high above $70,000.
Bitcoin Price Prediction 2023
According to the data by Digital Coin Price, the average price of Bitcoin in 2023 could be around $73,000. Since Bitcoin didn’t start 2022 on a strong note, there is a sign it could do the same next year. With BTC expected to close above $70,000 in 2022. At the start of the year, the value could drop below $64,000. Wallet Investor also predicts that the BTC prices might not do much throughout the year.
Bitcoin Price Prediction 2024
Since the next Bitcoin halving will happen in 2024, there is an indication that the Bitcoin price will fall at some point. While miners will get their reward of 3.125 BTC, the coin price could tank very deep. On the bright side, the halving could lead Bitcoin price to a maximum price of $128,782. The minimum expected price is also around $106,622. These Bitcoin price predictions are results from the analysis done by Wallet Investor.
Bitcoin Price Prediction 2025
More Bitcoin demand is expected throughout the world by 2025. Analysts from different companies predict that the impact of the coin could be massive. The Trading Beasts Bitcoin price prediction is a little above $97,000. However, Wallet Investor is more bullish with the price rise. They expect Bitcoin to be trading around a maximum price of $159,447 by December 2025.
Bitcoin Price Prediction: 2030 Forecast
By January 2027, the Bitcoin price is expected to rise to $171,110 (Wallet Investor). The analysts also predict that the Bitcoin price could be close to $200,000 by February of the same year. Between 2028 and 2030, the Bitcoin price prediction is expected to be in the $160,000 to $200,000 range (Digital Coin Price).
Expert Price Analysis about Bitcoin Forecast
Carl Runefelt, who leads the crypto YouTube channel, the Moon, thinks that Bitcoin’s price will take a different turn soon. By the way, the crypto expert predicts that Bitcoin’s price will hit a new high in 2022 and the subsequent years. However, he mentions that there is no guarantee of not having a setback during the run, but Bitcoin will perform well.
Coin Bureau predicted in 2021 that many institutional investors would buy more digital assets. In 2022, it seems like the prediction is coming to pass. The channel also tips crypto investors to entirely leave bonds behind and invest heavily in Bitcoin for the next few years. This move is expected to drive Bitcoin’s price to crazy highs if sustained.
Remember that past price performance does not guarantee future prices of cryptocurrencies. The price of cryptos depends on several underlying factors. Do not rely on this article to make your investment decisions.
What Is Bitcoin?
This article will tell you if you do not know why Bitcoin is so much more popular than other cryptocurrencies. To start, Bitcoin was the first cryptocurrency to be listed on the market. Moreover, if you have ever thought that decentralisation came from DeFi, you need to think again. Bitcoin is the first currency that offers decentralisation. The idea behind Bitcoin was to provide a peer-to-peer digital currency without any intermediary, institutional, or government interaction. Bitcoin launched in 2009 and it was created in 2008 by anonymous founder, “Satoshi Nakamoto.” Interestingly, nobody knows who that is, as he/ she have remained anonymous since then. Some argue that Satoshi is Craig Wright; others say it’s Nick Szabo, but no one knows for sure.
“Bitcoin is an investment against financial catastrophe”– Bill Miller, Chief Investment Officer at Miller Value Partners.
Unlike other cryptocurrencies, Bitcoin has continued to lead the pack in the market. Financial experts, rich people, and many average persons have claimed to own Bitcoin – betting against some US Dollar assets. Similarly, many crypto industry experts have called Bitcoin the future of money, and it seems to be living up to this name. With a year-on-year increase in value, and demand rising, Bitcoin’s value could reach the 6-figure dollars mark in no time.
Bitcoin’s Current Price
The current price of Bitcoin is $43,921. Although there has been a recent dip in Bitcoin price, a move beyond the 40,000 resistance has made BTC surge to its current price.
The Bitcoin Lightning Network
One of Bitcoin’s problems is its inability to process blockchain transactions faster. Usually, a Bitcoin transaction takes ten minutes, but this has a lightning network solution.
The lightning network allows cheaper and faster blockchain transactions between a payment option and another channel. The ability of the lightning network to scale a transaction is why it is called a layer-two blockchain network. With the increasing demand for Bitcoin across the web, the lightning network could help the coin to disrupt money markets throughout the world completely.
Is Bitcoin Better than Ethereum?
While there are some similarities between Bitcoin and Ethereum, there are also differences. Based on their historical prices, Bitcoin seemed to have outperformed Ethereum. However, Ethereum’s recent run might have shown some better price rise than Bitcoin. In terms of value, Bitcoin looks better than Ethereum, but Ethereum offers incredible potential with scalability. Both use Proof-of-Work (PoW) protocol, but Ethereum might be moving to a more scalable Proof-of-Stake (PoS) network. This protocol transfer is due to Ethereum’s vital role in Decentralised Finance (DeFi).
Who Is the Founder of Bitcoin?
Someone under the pseudonym “Satoshi Nakamoto” released the Bitcoin whitepaper in 2008. Although, he has remained anonymous to date. However, there have been rumours about the actual person behind the project. Most recently, Elon Musk, who laughed it off. That said, the Founder of Bitcoin remains the anonymous Satoshi Nakamoto.
What Is the Market Cap of Bitcoin?
As of this writing, Bitcoin has a market cap of $832 billion, with over $18 million BTC in circulation.
Can Bitcoin Reach $100,000?
In 2021, people tipped Bitcoin to reach $100,000 per Satoshi. However, the coin failed to meet the target during the entire year despite going as high as $65,000. With new coins emerging from all angles, many crypto experts believe that Bitcoin’s price could be $100,000 sooner than you think.
Is Bitcoin (BTC) a Good Investment?
Imagine you bought some Bitcoin at $1. How much do you think it would be worth now? Maybe that answers how good of an investment Bitcoin is. Yes, we all know that it hasn’t been all rosy, and volatility makes you prone to losses. There have been ups and downs in the Bitcoin price. Still, BTC comes back to show more strength. For years to come, traders, investors, analysts all believe that Bitcoin will continue to be profitable. So, there is a chance that it could potentially be a good investment for you.
How Can I Buy Bitcoin?
Bitcoin is the most accessible coin to buy or sell in many countries. Many crypto exchanges have Bitcoin listed, and you can buy Bitcoin on Coinbase, Binance, and FTX. However, these exchanges might be a little too complex for new crypto investors. A more straightforward platform to use will be eToro. Unlike most exchanges, eToro is fantastic for new traders, and you don’t have to worry about switching between “lite” and “pro.” All the necessary features for transactions are available on the eToro website and app for both beginners and experienced traders.
These Bitcoin price projections are only the opinions expressed by analysts and experts. Nothing is guaranteed. Remember that there are risks associated with trading in the crypto market. As such, do not make your investment decisions based on this article. Carry out your research before investing. You can also seek the services of investment advisors to help you make the most of your money.