Bitcoin (BTC) Price Prediction for 2023, 2024-2025, 2030 and Beyond

2023-01-09 2023-01-09
BTC Price Predictions and Analysis: Bitcoin Price Breakout!

Jana Kanehttps://www.litefinance.org/blog/authors/jana-kane/

Bitcoin, the most famous cryptocurrency in the world, breaks a price record again! The coin set a new all-time high of $68789.63 on November 10, 2021. BTC updated its previous record of $66,930.39 on October 20, 2021. 2021 was a turbulent year, both inside and outside the Bitcoin scene. Time for a brief look back: what big things happened in the world of Bitcoin, and how did this beautiful record market price come about? And what can we expect from the crypto-king next? Will  Bitcoin go up even more? Let’s find out in our Bitcoin coin review!

Bitcoin in Short

We’re sure you know, but Bitcoin is the best-known digital currency (also known as cryptocurrency). It was the very first decentralized currency that works by means of blockchain technology. The native token was launched in 2009, in the midst of a global financial crisis. Because many people were suspicious of banks, Bitcoin immediately won the interest of a large group of people.

The system allows you to send “money” to someone else without the intervention of a third party. The data is not managed by one person but by all users of the network. This makes it one large decentralized database of transactions.

Bitcoin Price Predictions for 2023 by Crypto Experts

Over the past couple of months, Bitcoin has witnessed breathtaking fluctuations, the market looks agitated and unstable, and the Fear & Greed Index has shown a high level of nervousness. 2021 was a year of amazing rises and sharp falls for Bitcoin, and many experts are already predicting what the future of this cryptocurrency will bring.

If the current price is at $18 817.84, what is the Bitcoin future value?

Katie Wood predicts the future price will be $100,000 in 2022. Let’s see if other sources share the same outlook.

Tom Lee

Tom Lee, the Managing Partner at Fundstrat Global Advisor, expects Bitcoin to be worth between $15,000 and $50,000 in 2022. He mentioned that the two factors needed to achieve the target price are current investors switching to cryptocurrency and regulations aimed at legitimizing the digital asset sector.

Tom Lee stated that the easiest way to see growth is to get existing investors in the US, not new ones, to invest in Bitcoin. New regulations could open up a lot of this movement.

World Leading Banks

• Goldman Sachs predicts that BTC will reach $100,000 in 2022;

• Citigroup predicted that Bitcoin would reach $318,000 by December 2021, but since the target was not achieved by the end of the 2021, the forecast remains valid for 2022; 

The Ascent

In an article published on Feb 16, 2022, the experts share thoughts about the possibility of Bitcoin rising to $200,000. Сonsidering the level of unclear regulation by Congress, even though a $200,000 Bitcoin would be great this year, it’s unlikely to happen. However, given the strong deflationary nature and fundamentals of Bitcoin, the coin could reach a new all-time high in the range of $75,000 to $90,000.

Katie Wood

Returning to positive Bitcoin price predictions, ARK Investment Management fund manager Katie Wood has repeatedly stated that it’s possible Bitcoin will reach $100,000 in 2022. She further adds that recent network updates and the increased use of the Lightning Network payment application on the Bitcoin blockchain contribute to its scaling and usefulness. Wood predicts that the value of one Bitcoin could exceed $500,000 by 2026. In January 2022, she updated a forecast saying that the price of a single Bitcoin could reach $1 million in just another 8 years.

Long Forecast

Its prediction for 2022 outlines a steady uptrend for the entirety of the year. Throughout the year, Bitcoin might be trading within the $25,537-$44,334 range.

All Forecast

This forecast demonstrates a low probability of high volatility. For instance, in September, the highest point will be $46,626; at the same time, the lowest price will be $38,076. Although it seems like a significant difference, $11,000 is the average gap between the minimum and maximum BTC prices. 

Digital Coin Price

Let’s close this section with another promising prediction. Below is the graph showing where Bitcoin might be heading in 2022 — it might come close to $58,000.

Bitcoin Technical Analysis

First, we’ll have a look at Bitcoin‘s monthly time frame.

The BTCUSD market technical analysis indicates a bullish scenario in the long term.

As the BTCUSD prediction chart above suggests, there’s forming a foundation for the bullish flag pattern, targeted at around 100,000 USD. As Bitcoin is currently trading at the flag’s lower boundary, we can expect a pullback to its upper boundary at 70,000 USD. 

Such moves can be surely considered as a new local bullish trend on a smaller TF chart, which can continue up to autumn. Let’s do a technical analysis of smaller time frames to estimate the probability of Bitcoin rate movements according to the scenario above.

Bitcoin Forecast For Next Three Months

Based on Fibonacci channels, we see from the BTCUSD daily chart that the price is in the red consolidation zone, and exiting that zone will determine further development of the Bitcoin future value.

An exit to the downside — the grey zone — and consolidation below 33,000 USD will mean the flag and the bullish pattern’s downward breakout. I marked that level with a red line in the price chart. A shift to the yellow growth zone and consolidation above 45,000 USD and the green line will suggest further development of the bullish scenario.

Technical analysis of indicators won’t give us any clear signals for either direction on the daily and hourly charts. However, the weekly chart suggests a bullish divergence between the price prediction chart and the RSI indicator. If we take a look at Bollinger bands, we’ll see a growth hint — the Bitcoin moved to the narrow band zone.

In general, those signals are more than enough to expect Bitcoin to grow to 50,000 USD, and that would be a realistic scenario.

Long-Term Bitcoin Analysis for 2022/2023

The expected growth of Bitcoin value in the next three months corresponds to a BTC growth forecast for the next one or two years. Once the BTC coin consolidates above 45,000 USD, the Bitcoin price may reach the upper limit of the flag. So, Bitcoin’s bullish potential can go up to 70,000 USD this year.

A correction may occur at that level, and it will be limited by the support level at 45,000 USD. The BTC/USD rate will likely consolidate in that zone until the end of the year, trying to break the flag to the upside.

As the chart above suggests, a future price target may be a strong psychological level of 100,000 USD. I know that most buyers start getting nervous at the approach to such big values, so a more realistic price target would be around 92,000 USD.

Monthly Bitcoin price predictions

Based on the analysis above and historical volatility levels, we can predict Bitcoin’s expected trading range for each month.

The chart above presents a forecast for monthly trading ranges according to our long-term scenario. The table below summarises the same data.

Long-term BTCUSD trading plan

Let’s make a trading plan now.

Considering high intramonth volatility, we will likely see Bitcoin at 39,000 USD again. That’s a good level for taking a long position, marked as a blue line in the chart above.

Limit losses if the price drops below the flag’s boundary. A suggested Stop Loss is marked as a red line, below 32,000 USD.

The historical peak at 67,000 – 68,000 USD will be a good level for profit fixing. It is marked as a green line in the chart.

A technical correction is very likely to happen there. It would be wise to wait till it is over and go long again on a more profitable level. We’ll talk about that later.

Remember to observe your risk management rules and take care of your money!

BTCUSD Technical analysis is presented by Mikhail Hypov.

Weekly Elliott wave Bitcoin analysis as of 09.01.2023

The BTCUSD market continues forming the large upward impulse wave (1)-(2)-(3)-(4)-(5), with three sub-waves completed inside. Corrective wave (4) is currently unfolding as a double zigzag W-X-Y. The first motive wave W is currently unfolding as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. Let us explore the market situation in more detail in the eight-hour timeframe.

Sub-waves [W]-[X]-[Y]-[X] have completed within the W wave. The final motive wave [Z] is currently unfolding as a double zigzag (W)-(X)-(Y), with the final wave (Y) developing inside. The (Y) wave could complete as a standard zigzag A-B-C, like the (W) wave, as outlined in the chart. Correction B could be unfolding as a triangle [A]-[B]-[C]-[D]-[E], whose stricture is indicated by trendlines. The middle sub-wave [C] should end at a level of 17900.00, where it will be 76.4% of the preceding wave [B].

Weekly BTCUSD trading plan:

Buy 16930.32, TP 17900.00

BTCUSD Elliott wave analysis is presented by an independent analyst, Roman Onegin.

You can read here daily short-term Bitcoin price predictions with signals based on wave analysis.

Bitcoin Price History Up to 2022

First of all, let’s address the price development of Bitcoin since the beginning. In the image below, you can clearly see the various major events.

But let’s take a closer look at Bitcoin in 2020.

Bitcoin Crash in March 2020

2020 started with bad news. From February to March, Bitcoin fell from over $10,000 to below $4,000. However, the crash wasn’t just in the crypto market. It was a full-on economic recession because of the COVID pandemic. For example, the AEX (the stock market index) closed with the largest drop since 1987, a drop of more than 10%.

Bitcoin Halving in May 2020

The halving event happened on May 11. The new reward per block was set at 6.25 BTC, which was the new era for Bitcoin. So, the number of bitcoins circulating became even scarcer, which also coincided with people receiving their stimulus and money packages. Because of the higher demand and lower supply, the price rose.

Bitcoin Core Update in June 2020

The next on the Bitcoin news were changes within the network. As upgrades usually cause price increases, they’re important news. Bitcoin Core is responsible for everything in the ecosystem, the update for which was released on June 28 by 119 developers. OpenSSL was removed from the code to increase the security of the protocol and reduce vulnerabilities to attacks.

BTC Banking in July 2020

The Comptroller of the Currency (OCC), which supervises the national banks, allowed US banks to offer Bitcoin services. The first companies to jump on this news were Avanti, Kraken, BitPay, and Paxos. All of them applied for a license and bank charter.

MicroStrategy in August 2020

The most bullish news of 2020 came in August when the business intelligence company MicroStrategy purchased bitcoins worth about $250 million. The reason was the Inflation Ghost. 

BitMEX and PayPal October 2020

The most shocking news of October came from the derivatives platform BitMEX. The exchange has been sued by the US Commodity Futures Trading Commission (CFTC). According to the CFTC, BitMEX was operating without proper licenses. It was also accused of manipulating the market, which doesn’t look good for the price of Bitcoin.

On the plus side, PayPal opened its doors to Bitcoin the same month. Anytime a billion-dollar company starts accepting cryptocurrency, it pushes the market forward and causes a price increase. It’s also important to note that PayPal bought up about 70% of the newly mined Bitcoins.

Institutional Money in December 2020

MicroStrategy made the first influx of institutional money at the end of 2020, which was followed by Square, Stone Ridge, MassMutual, Guggenheim Partners, Grayscale, and Ruffer Investment. In total, the investments were in the hundreds of millions USD. MicroStrategy raised $650 million in debt securities and, since then, successfully turned that cash into Bitcoin. This prompted a price increase, with BTC rallying above $24,000 during that period. 

Why is Bitcoin going up? Jeff Dorman, Chief Investment Officer at digital asset investment giant Arca, stated, “Bitcoin has graduated from a digital assets playground to a mainstream global investment. Investors now have the knowledge and means to buy Bitcoin themselves, and we are seeing it in real-time, which happened quicker than we anticipated.”

Bitcoin Value Waves in 2021

In 2021, Bitcoin doubled its value, but it experienced a severe fall in January 2022. Bitcoin soared to an all-time high of over $64,000 in the first half of 2021, then quickly dropped below $30,000 in summer. Then, BTC rose significantly to a new high in November 2021 but sank back to approximately $35,000 by January 2022. Bitcoin’s price reacted to the economic recession, which was caused because of the COVID pandemic and the recovery period. In most cases of Bitcoin corrections, other cryptocurrencies move along with it, which has already happened in 2021.

If you want more insight into what pushed Bitcoin’s value in 2021, below is a further description of Bitcoin’s historical price charts.

Crash Prompted by the FCA in January 2021

The BTC/USD pair took a plunge at the beginning of 2021 due to regulation issues. The UK Financial Conduct Authority warned people investing in crypto assets “should be prepared to lose all their money.” As a result, around $175 billion in market value was wiped off the market. 

FCA Chief Mr. Bailey was sure that “Bitcoin’s days [were] numbered.” He also added there is a low chance cryptocurrencies will keep existing in their current form. Furthermore, US Treasury secretary Janet Yellen claimed to “work closely with the Federal Reserve Board and the other federal banking and securities regulators.” Such comments signaled tougher conditions for cryptocurrencies in general. 

Boost From Tesla in February 2021

The question of whether Bitcoin would go back up worried investors. Fortunately, Elon Musk mentioned Bitcoin on Twitter, and within a day, the price skyrocketed by 11%. Also, Tesla mentioned it purchased $1.5 billion worth of Bitcoin in an SEC filing, driving the price over $48,000.

Coinbase’s Listing in April 2021

Bitcoin hit a new record of over $63,000 in April, a day before Coinbase’s share listing in the United States. Coinbase is the cryptocurrency exchange in the US, and its listing on Nasdaq was a landmark victory for crypto advocates. This news had a positive impact on other cryptocurrencies as well, including Ethereum. 

Mining Ban in China in May 2021

China’s cabinet vowed to crack down on Bitcoin mining, trying to mitigate financial risks and sending Bitcoin tumbling. Over the course of several weeks in May, BTC fell from over $58,000 to around $32,000. At this point, China’s share of global BTC mining has fallen to effectively zero.

New Narrative in July 2021

In July, the price of Bitcoin crashed below $30,000. This was the time when the ESG (environmental, social, and governance factors) narrative dragged the mood in the market down. Bitcoin also suffered from the Financial Action Task Force’s negative regulatory undertones. These stories began to affect the global economy – the sentiment fell to single-digit levels at the time.

Full Ban on Cryptocurrencies in China in September 2021

Cryptocurrency trading has been illegal in China since 2019, but it continued through foreign exchanges. This time, the official declared a full ban. The People’s Bank of China said: “Virtual currency-related business activities are illegal financial activities.” Within a few days, the price of Bitcoin fell by more than $4,000.

Regulatory Recognition in October 2021

U.S. Bank, the fifth-largest retail bank in the USA, launched its Bitcoin custody service for fund managers. On top of it, the Biden administration might release an executive order to direct federal agencies. If this goes into effect, they will be ready to study and offer recommendations on the crypto market, which is great news for traders.

“It’s a validating moment,” said Jesse Proudman, co-founder and CEO at Makara. “I think that’s a really meaningful mark in the history of the broader digital-asset class.”

All-Time High Update in November 2021

The consumer prices in the US rose at the fastest pace in more than 30 years, which reinforced the fear of inflation. This has affected the growth of the cryptocurrency to record highs. The crypto market capitalization exceeded $2 trillion, which was why Bitcoin reached its all-time high of $68,789.63 on November 10, 2021. Whenever the market capitalization increases, it leads to a growth in the price of the dominant asset.

November was characterized by a positive market and global news. Keeping in mind that news has a high correlation with Bitcoin, the growth of the crypto giant did not take long to come.

Shortly after setting the all-time high, BTC went down to $57,000 on November 18. One of the most disturbing questions back then was where Bitcoin would end in November. Despite the optimism, the coin ended Fall 2021 at the price of $57,000.

Price Drop in December 2021

On December 4, 2021, the cryptocurrency markets suffered a sudden collapse. It was a terrible day for crypto holders, as Bitcoin prices plummeted in just a few hours. Once again, the market showed its volatility. BTC closed with a drop of more than 20%. In the middle of December, charts reflected a continued bearish trend, and many assumed that a return to $30,000 was almost inevitable. Most investors blamed the emergence of the COVID Omicron variant, which led to a severe economic disbalance. 

Crypto Crash in January 2022

Unlike the usual growth for investors in January, which we observed in 2019, 2020, and 2021, January 2022 was a disappointment. BTC started the year at almost $48,000, but by January 31, 2022, the world witnessed a fall. The US central bank planned to tighten the monetary policy in order to fight inflation, which only complicated an already confusing market.

Volatile February 2022

The volatility traditionally associated with cryptocurrencies has been fully demonstrated. The Bitcoin exchange rate soared on February 4, exceeding the $40,000 mark. On February 24, the Bitcoin exchange rate dropped sharply to almost $34,000 but then rose by more than 11% to $38,900 after that sharp decline. Since the beginning of the year, the price of Bitcoin has decreased by almost a quarter. The market value of the cryptocurrency after its peak price in November 2021 decreased by $600 billion. According to Bloomberg, the entire cryptocurrency market has lost $1 trillion.

Bitcoin price today is $18 817.84.

Bitcoin Price Prediction 2023-2024

How much will Bitcoin cost in 2023? Will Bitcoin manage to stick to new highs in 2023?

Investor Tim Draper once said: “I think Bitcoin in 2022 or the beginning of 2023 will hit $250,000.” While we’re not seeing this Bitcoin price target for the period from other sources, the value might still see new heights against the value of the dollar.

All Forecast

According to the forecast below, the year 2023 will see some spikes, with the price range varying somewhere between $32,900 and $45,400.

Long Forecast

The next outlook is far more promising. Bitcoin’s projected growth might drive it up to $89,500 by the end of the year. The highest closing price for 2023 is $83,655 in December 2023.

Moving on to 2024, the same source expects BTC to stay well above the $54,000 mark, with the highest point possibly being $103,833 in January 2024.

Digital Coin Price

In the image below, we also have price charts reflecting Bitcoin’s movement in 2023-2024. The expected fluctuations put BTC’s price over and under the $68,000 mark several times.

2024 might be the year of a conservative rise for Bitcoin, starting below $63,000, increasing and losing value in the following months, and finishing approximately at $72,000.

Long-Term Bitcoin Prediction in 2025-2030 and Beyond

Is Bitcoin expected to rise? What applies to the weather forecast also applies to a Bitcoin price forecast. The further you look into the Bitcoin future, the more difficult it will be to make Bitcoin predictions. In 2025, the world may look very different from what we now sketch. Nevertheless, we make an attempt. What will 2025 bring for Bitcoin?

Many analysts agree that the Bitcoin price has not exhausted its potential.

Digital Coin Price

Digital Coin Price shared a chart outlining Bitcoin’s price development through 2022-2031. They expect a jump at some point between 2024 and 2025, where the price might surpass $85,000. Starting from 2027, there may be an uptrend toward $200,000 and more.

PricePrediction

Here is another ​prediction of the price of Bitcoin in 2025-2031. This source believes that BTC can go into the millions. 2030 might be the landmark moment when Bitcoin makes it past $1 million, while 2031 might show an average price of $1,400,000 throughout the year.

Coin Price Forecast

The possible dynamics from 2025 all the way to 2033 show that the price of Bitcoin could reach $105,000 by mid-2025 and $167,238 by the end of 2028. However, after that, a downtrend will start. By the end of 2033, the price will fluctuate near $133,750.

FX Empire

FX Empire released a collection of opinions about the Bitcoin exchange rate forecast for 2025  and 2030. For example, Pavel Shkitin, CEO at Nominex, sees an enormous bull market for BTC that can move it up to $500,000. Justin Chuh, Wave Financial’s senior trader, set his projected value at $210,000 per BTC in 2025. Ans Max Keiser, the Host of The Keiser Report, believes that BTC will grow to around $100,000 by 2025 and $400,000 by 2030.

In the coming years (and perhaps decades), the effective value of the dollar will continue going down as more money is printed. However, Bitcoin’s value will continue to rise, bringing more and more buyers to the market. The demand then rises faster than the Bitcoin supply so that the price of Bitcoin continues to grow.

Is Bitcoin a Good Investment?

Should I invest in Bitcoin? Now you may have this question in your mind. The digital currency Bitcoin hit another all-time high in November 2021, climbing over $68,789.63. The strong advance of the cryptocurrency to a new record high does not seem to be coming to an end for the time being. So – Bitcoin: buy or sell?

Back in 2017-2018, people thought that Bitcoin coming close to $20,000 was the end. But the digital currency proved multiple times that it could overcome new barriers, even after massive drops. So, Bitcoin could be a good investment going further.

In the beginning of 2022, it’s clear that more and more asset managers are starting to see a profit in crypto coins. Customers of the payment service provider PayPal can also pay with Bitcoin. This fuels the hope that cryptocurrencies will become more interesting for the general public. 

However, the investors’ optimism becomes even stronger when price targets from analysts – over $60,000 and even $100,000. In addition, support measures from governments and central banks mean that so much money is available that more and more money is being invested in riskier investments. 

Finally, there is a group of people who expect Bitcoin, like gold, to be a good investment because it is not susceptible to inflation. The current advance started last year. The digital currency then roughly quadrupled in value, according to data from coinmarketcap.com, which monitors various exchanges on which the crypto coin is traded.

Disclaimer: Trading digital currencies involves significant risks. The information on this website is not intended as investment advice.

Price chart of BTCUSD in real time mode