Will Bitcoin Reach $30,000? Bitcoin Price Prediction Today, 2023-2030

Bitcoin Price Prediction: This article is about the BTC Prediction for today, and for 2023-2030

Will Bitcoin Reach $30,000? Bitcoin is well placed to reach $30,000. Read on for More Information

---

Bitcoin Price Performance

• Last 5 days: +0.7%, Outperformer*
• Last 30 days: +20.0%, Outperformer
• Last 6 Months: +44.5%, Underperformer
• Last 12 Months: -38.1%, Underperformer

Vs LTC, Leading Payments Blockchain

Bitcoin Price Prediction this Week: Bitcoin price will likely trade within the range of $26,464 and $28,657 this week.

Latest Macro Data

• Dollar Index DXY Trend – DXY has fallen over the last 3 weeks [Positive for BTC]
• Crude Oil Price Trend – Recovered by $6 in the last Two weeks [Negative for BTC]
• Last CPI Read – Trending Lower and is now at 6%. It is lower than October 2021 which triggered the Crypto crash from the peak [Positive for Bitcoin]
• Personal Consumption Expenditures Price Index – Dropped a little [Positive for BTC]

Click here to skip the section on short-term analysis, Continue if you wish to read about short-term price predictions

Bitcoin Price Prediction (Short-Term Analysis)

Bitcoin Price Technical Analysis

Bitcoin price could witness a pullback as massive option contracts are set to expire today. As per the data by Amberdata, Deribit, which accounts for almost 80% of the global crypto options activity will be settling quarterly options on Friday. The options comprise 81,052 call options worth $2.24 billion and 60,261 put options worth $1.73 billion.

If the Bitcoin investors don’t resort to massive buying, the price will undergo a pullback.

BTC Prediction using Technical Indicator

Bitcoin price after retreating close to $27,500 is once again on the uptrend. At the time of writing Bitcoin is once again above $28,000. On the 4-hour timeframe chart, BTC retested the 50-day MA and then bounced back.

Currently, Bitcoin is retesting the 200-day Moving Average from below. The 50-day MA of Bitcoin is around $27,823 and the 200-day MA is $28,195.

The immediate support for Bitcoin is $27,602 while the resistance is $28,354. If Bitcoin breaks above this resistance, it will likely enter the $29,000 price range. Bitcoin is once again technically bullish. The Relative Strength Index confirms the bullish momentum. The RSI is on the uptrend once again. Currently, the RSI reads 53.92.

On the Bollinger band, the net Bitcoin price retreated below the upper Bollinger band. However, after retesting the Moving average, the Bitcoin price is once again on the uptrend. However, the distance between the two bands has increased indicating an increase in price volatility.

On the MACD chart, the MACD line has fallen below the signal line. The trading volume has decreased for Bitcoin. It is a sell signal.

Overall Bitcoin is marginally bullish.

Latest Bitcoin News

• Bitcoin continues to face Liquidity risks
• Alex Krüger, the founder of Aike Capital, has stated that the era of getting rich from investing in Bitcoin may be over, as the cryptocurrency shifts towards wealth preservation and risk-adjusted returns.

Bitcoin BTC Price News Today

Research on Coindesk claims that the recent banking crisis in the US and Europe has led to a surge in demand for Bitcoin as a hedge against financial calamity (Crowdwisdom360: High Volatility and continued dependence on Fed moves make BTC less of a hedge against any calamity).

Bitcoin could be the ultimate flight to safety as the US banking system experiences rolling bank runs, says veteran Bitcoin crusader Matthew Kratter, founder of Bitcoin-focused investment firm Trader University. Kratter predicts that Bitcoin would likely be trading above $100,000 in three months and in the millions by the end of the decade. (Crowdwisdom360: The $100k Forecast has no realistic basis at the moment though any interest rate cuts by Fed could drive BTC prices significantly higher).

Bitcoin Price Prediction Today: Why BTC Will Reach $30000?

Bitcoin is trading above $27,000, its highest since August 2022. The current momentum suggests Bitcoin is aiming at a high price that potentially is above $30,000. Reasons why BTC could reach $30000

• Inflation is down to 6%, lower than October 2021 because of which BTC crashed lower
• Crude price is down below $80 again
• Interest rate hikes could be lower going forward

Risks: More Banking Crashes

Bitcoin Price Prediction (Long-Term Analysis)

Bitcoin Price Prediction 2023: Is Bitcoin a Good Investment?

Bitcoin is a blockchain-based cryptocurrency designed to act as both a currency and also a store of value. It was released in 2009 by an anonymous developer, Satoshi Nakamoto.

• Bitcoin was initially released as a peer-to-peer payment method and does not have any central authority.
• It uses the concept of proof of work to reward its members. The lifespan of Bitcoin (BTC) has been the longest of any cryptocurrency.
• The Bitcoin ledger is public and any person can store it on their computer. Anyone can create a Bitcoin token and can be transferred to any of the wallets however,  the owners of bitcoin addresses cannot be identified, but any Bitcoin transaction made can be accessed by anyone, anywhere.
• No approval is required for the completion of a Bitcoin transaction. It is done by the network itself without the interference of any third-party system.
• It is a limited resource of 21 Million Coins of which 19.1 Million are in supply.
• Since its creation, Bitcoin has held the top rank in terms of market capitalization. 

Bitcoin Use Cases

There are 2 major use cases for Bitcoin at the moment. This is different from use cases for Blockchain which is much more widespread.

• Store of Value: In Layman’s language, Bitcoin is like Gold hidden inside a computer network instead of a mine in Africa. The creator(s) deliberately created a limited number of them and created a whole range of difficult tasks to get them. Just like in real gold mining, Bitcoin mining becomes difficult if more people mine at the same time or as the number of BTCs keeps reducing. That said, It cannot be used as ornaments, one of the big factors that drive Gold value. To solve this problem, the creators designed it in the form of a currency that is authenticated via a blockchain.
• Payments: Over the last few years, BTC has increasingly been used as an alternative to the US Dollar or other National Currencies. It is now accepted on payment by many companies around the world. While BTC enjoys the absence of central control and therefore any form of voluntary devaluation, it suffers from more volatility.

What are the Latest Payment Statistics?

According to Coingate

• Nearly a Million Crypto payments were made in 2022. This is related to Coingate related Merchants only and not the entire market
• These payments have grown by 63% over 2021
• Bitcoin accounted for 48% of the payments, USDT was second with 15%, and ETH (11%) vs marginally ahead of LTC (10%)
• Lightning Network which facilitates BTC payments grew by 97%

According to Bitpay

• Nearly half a million payment transactions were completed in the last 6 months
• VPN Hosting and Internet make up for 33% of Crypto Payments (Bitpay data only)
• 29% are toward Gift cards
• 24% are towards Computer games
• 42% of the payments are made using Bitcoin, 26% through LTC, Ethereum is at 11%, Doge is at 10% (Bitpay data only)

Over 7941 Merchants accept Bitcoin

So there is firm evidence that Bitcoin and Crypto payments are rising at a massive pace and are likely to do so sans aggressive regulation.

Why is Bitcoin not used in DeFi and NFTs?

Bitcoin is a major player in payments but is not present in DeFi and NFTs. The primary reason is the transaction speed. Because of the lower transaction speeds, other blockchains like Solana, Polygon, etc are better for DeFi than Bitcoin.

The same logic applies to NFTs as well. High Transaction costs, low processing times, and the weaker smart contract abilities of Bitcoin do not make it an ideal blockchain for NFTs. The recent launch of Ordinals NFT is attempting to solve this problem.

Is Bitcoin better than Gold?

Bitcoin is better than Gold for the following reasons

1. It is more durable
2. It is more safely portable
3. It is quite liquid
4. It is Divisible

Gold is better than Bitcoin for the following reasons

1. It has a long history of value
2. Gold has a wide range of real-life uses and fewer alternatives – Jewellery, Manufacturing
3. Gold is ‘relatively’ less impacted by Federal Reserve policies

Bitcoin Price Performance History

Bitcoin has been a highly volatile cryptocurrency since its launch. After being launched at $0.0008, it piqued the interest of early adopters but things really changed after Global liquidity rose in 2016 and 2017, more speculators entered the market and pushed the price higher to $19.8k. However, as the Federal Reserve tightened its balance sheet, Bitcoin price crashed and fell to a 2018 bottom of $3k by December of that year. However, prices gradually rose first because of the Federal Reserve easing on its plans to reduce the size of its balance sheet and pumped after the COVID-induced interest rate cuts in 2020 reaching an all-time high of $69k in November 2021.

After inflation breached 6% in October 2021 and Russia invaded Ukraine in February 2022, prices crashed. This was further compounded by the crash of Luna and FTX. Bitcoin fell to nearly $15k in November 2022 before recovering by 30% by this week.

Bitcoin’s Return on Investment over the last 12 years

Overall, Bitcoin has delivered positive returns for most of the last 10 years.

• Bitcoin has delivered positive returns in 9 out of 12 years
• 2018 was the most difficult year which also coincides with the year the Federal Reserve reduced the size of its balance sheet. During that year, Bitcoin closed 74% lower than the previous year. It took Bitcoin 3 years to recover.
• Unlike Alts or even Ethereum, Bitcoin has been there for a fairly long time and with a record of proven performance.

Gain Years: 2011,2012,2013,2015,2016,2017,2019,2020,2021

Loss Years: 2014,2018,2022

Bitcoin vs Ethereum, Performance Comparison

• Last 3 Months:+31.4%, Outperformer*
• Last 1 Year: BTC (-)42.9%, Underperformer
• Last 5 Years: BTC +132.0%, Outperformer

*Vs Ethereum

On a long-term basis, Bitcoin has performed more consistently than Ethereum. However, over the last few months, Ethereum has outperformed Bitcoin.

Some people compare Bitcoin to the Tulip Mania, while others relate it to the Dot Com Bust. However, both the Tulip Mania and the Dot Com bubble lasted around three years. Bitcoin has been repeatedly tested in this contemporary era of computers and boom and bust cycles over the previous 12-15 years. So, the comparison is false, and Bitcoin will rebound.

---

Also Read

XRP Price Prediction

Ravencoin Price Prediction

Gala Price Prediction

---

Bitcoin Price Prediction 2023: How many BTC Holders are in Profit?

Holders in Profit: 63%
Holders in Loss: 34%

Bitcoin Price Prediction 2023, 2025 and 2030 (Aggregated)

Coin Specific Issues

• Bitcoin continues to struggle in acceptance with numerous credible experts calling it a fraud/ Ponzi scheme
• While Bitcoin acceptance for payments and money transfers has risen, it is still quite paltry given the large regulatory hassles and risks

Macro Issues

• The Ukraine crisis continues
• Global liquidity continues to fall
• A Series of scandals this year beginning from Luna and continuing with FTX has further hurt the overall crypto market

Forecasting Issues

• Forecasting is rarely accurate because of too many influencing variables which cannot be predicted given human intervention
• Forecasting is good at picking the direction but not the magnitude

Still, here is a broad outline of how things playout

• 2023-2024: BTC Bottom plus some recovery
• 2025-2027: Full BTC recovery plus some gains on the back of wider usage of Blockchains
• 2028-2031: Cyclical slowdown plus, Widespread blockchain usage, a further rise in Bitcoin price

This does not take into account wars or company-specific crises which are likely to occur but the timing of which is difficult to predict. Bitcoin Price Prediction 2023 is $43,026

Bitcoin Price Prediction 2025

The supply of Bitcoins being mined will fall by half in the next 14 months. With reduced supply, the volatility is likely to diminish. Bitcoin momentum is likely to sustain in 2025 as economies recover. However, regulations are likely to increase as well. Bitcoin Price Prediction 2025 is $75,945

Bitcoin Price Prediction 2030

However, we expect a substantial bump between 2025 and 2030 when many middle-income countries are likely to invest substantial pools in the Bitcoin economy. Bitcoin Price Prediction 2030 is $319,380

Bitcoin Price Prediction 2040 using 15% and 25% ROI Method

• If the BTC price increases by 15% per annum – $237,138
• If BTC price increases by 25% per annum – $1,063,705

Will Bitcoin crash again?

Past data analysis suggests that Bitcoin could crash again this year or next year but it is impossible to provide a firm timing at the moment. The reason is that the crashes are related to a sequence of events and we have no data on when those events are likely to occur (for example, a big crash in the European economy, a Sudden surge in Liquidity leading to Bitcoin becoming overpriced)

What factors affect the Future price of Bitcoin?

• Liquidity
• Bitcoin Adoption
• Inclusion in mainstream ETFs
• Supply of BTC from Miners (Lower)
• Cost of producing a Bitcoin
• BTC Domination (Higher)
• Cryptocurrency related news

Crypto news from around the world has affected the price of Bitcoin widely. Any good news about cryptos like their adoption, or increased interest of the investors has led to a surge in the price of Bitcoin. At the same time any news regarding the ban of crypto in any country, and regulation against cryptocurrencies have led to a Bitcoin price crash.

• Geopolitical events

Non-crypto news has also played a very important role in the price movement of Bitcoin. In early this year, Russia attacked Ukraine, this event turned out to be a Waterloo for Cryptocurrencies. Along with it recently US Fed hiked the interest rate, and this hike in interest rate led to the crash of the crypto market. Bitcoin price tumbled after the rate hike.

Bitcoin Price Forecast News

• As per the latest updates, the wallet of Satoshi is doing 20,000 LN payments per day.
• Moreover, they are on pace for 600K payments in the month of January.
• The billionaire venture capitalist and crypto enthusiast Tim Draper are confident that Bitcoin will reach $250,000 in 2023.
• One of the Bitcoin core developers Luke Dashjr posted that many of his Bitcoins were stolen and he had no idea how it happened.

Risks of Investing in Bitcoin

If the stock market is seen as volatile by many, Bitcoin is hyper volatile and its price swings wildly akin to a meme stock. Unlike the prices of stocks which have some form of scientific basis, the underlying value of Bitcoin is still unclear, and therefore the price swings wildly depending on a variety of factors. There are huge risks in investing in Bitcoin and one should be aware of that if one has already invested or is about to invest in Bitcoin or similar cryptocurrencies

Stress and Anxiety

The huge volatility due to Bitcoin price causes investors to often take irrational decisions to buy or sell leading to poor returns. As outlined earlier, investing in Bitcoin in general has been profitable. However, responding to the volatility due to the stress and anxiety of seeing the prices swing wildly often leads to sub-optimal returns. This becomes particularly true if a substantial amount of personal wealth is locked in the asset. Investment advisors often consider your ability to handle this form of volatility along with your financial plans for the next few years before recommending Bitcoin.

Regulatory Risks

Bitcoin threatens the existing Central Banks and as a consequence the Government control of printing and managing currency in the economy. It is unclear how serious this threat is at the moment but most central bankers believe this threat is real. Governments have already responded by either imposing full bans, imposing high taxes, or even launching their own tokens in response to the real or imagined threat of Bitcoin. These create additional risks that one does not encounter in stock trading. It is unlikely that many Western countries would impose such bans but it is also important to be aware of these risks.

Investing in Bitcoin must be a part of the healthy financial planning process that should include current wealth, expected income, and future expenses. It should also be overlaid by your mental makeup and response to volatility. A financial advisor would be a good guide to help you take these decisions.

Bitcoin Forecast: How to Invest in Bitcoins?

Getting Bitcoins has been made easier by the day. There are multiple exchanges offering Bitcoin and other cryptocurrencies.

The very first step to investing in Bitcoin is to choose an Exchange. There are multiple exchanges in the market. The most popular ones are:

1. Coinbase
2. Binance
3. Gemini
4. Robinhood
5. Venmo

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions. 

Hedera HBAR Price Prediction