Bitcoin Price Prediction Today, 2023-2030

Latest Bitcoin Price

Article Coverage: Macro Summary, Latest Bitcoin News, Bitcoin Price Prediction Today, Bitcoin Price Prediction 2023-2030, Is Bitcoin a Good Investment, Bitcoin Risks, FAQs

Bitcoin Price Forecast: Latest Macro Data

• Dollar Index – DXY has been trending higher for 2 months in a row. [Negative for BTC]
• Crude Oil Price – Crude Oil Price has been trending higher for a month now [Negative for BTC]

Macro Summary: Negative for BTC.

Bitcoin vs. Ethereum, Performance Comparison

• Last 3 Months:-14.2%, Outperformer
• Last 1 Year: BTC +39.1%, Outperformer
• Last 5 Years: BTC +296.0%, Underperformer

Latest Bitcoin News and Market Analysis

• The North Korean hacking group known as Lazarus has amassed approximately $47 million in cryptocurrencies, with Bitcoin accounting for approximately $42.5 million of this total. This information has been disclosed by 21.co, the parent company of 21 shares.
• Bitcoin analyst Willy Woo has raised concerns about the increasing dominance of “paper” Bitcoin (BTC derivatives) over actual liquid Bitcoin. Woo revealed that there’s now a 20-30% higher trade of these derivatives, which impacts Bitcoin’s bullish trends. He believes this surge in Bitcoin derivatives is siphoning liquidity from Bitcoin, allowing for price manipulation. Woo highlights that since the introduction of futures markets, Bitcoin’s significant bull runs have dwindled.
• Analyst Credible Crypto highlighted a sustained accumulation trend, suggesting that the market isn’t primed for a significant move just yet. The analyst commented on the ongoing accumulation and projected a possible momentum shift in the upcoming days, hinting at potential market movements to watch out for.

Bitcoin ETF Approval News

• Mark Yusko, CEO and Chief Investment Officer of Morgan Creek Capital Management believes a spot Bitcoin ETF approval by the SEC could pave the way for an influx of $300 billion into the Bitcoin market.
• Arca Chief Investment Officer Jeff Dorman called BlackRock’s filing ‘much more important’ than the other prospective offerings. Dorman added, ‘If BlackRock has an ETF, you know that they are going to win. They have the marketing and distribution to put new people into Bitcoin.’

Bitcoin Buy or Sell? Crowd Poll

Net Buy Rating = Buy% – Sell%

• July 1st: -2.4%
• August 1st: +30.8%
• September 1st: 0.0%
• September 25th: +42.0%

Bitcoin Technical Analysis Today

The price of Bitcoin is presently in a downtrend, with its overall value dropping below both the 50-day and 200-day moving averages. Bitcoin is encountering challenges in maintaining stable support levels during this time.

When examining the 4-hour timeframe chart, it becomes evident that $26,000 serves as the immediate support level for Bitcoin. Buyers are making efforts to protect this support; however, the asset is currently undergoing a price pullback. The price of Bitcoin is in a downtrend, and from a technical standpoint, it is in an oversold condition.

The 50-day moving average (MA) for Bitcoin is currently at $26,740, while the 200-day MA stands at $26,275. With Bitcoin’s price slipping below both the 50-day and 200-day MAs, the overall sentiment regarding the asset has turned pessimistic. On the 4-hour timeframe chart, the 50-day MA now serves as the initial level of resistance for Bitcoin.

The Relative Strength Index (RSI) for Bitcoin corroborates the bearish perspective. The current RSI reading stands at 27.07, indicating that Bitcoin is in an oversold condition. This suggests that sellers are dominating the market and have been influencing the momentum of the asset downward.

The Fear and Greed index has risen into the Fear zone, signifying a negative market sentiment. The trade recommendation for Bitcoin is to sell. Additionally, on the MACD chart, the MACD line has crossed below the signal line, and the volume histogram bars have expanded in the bearish direction, further indicating bearish momentum for the asset.

Overall considering the technical indicators, the momentum of Bitcoin is bearish.

Bitcoin Price Prediction Today, Tomorrow and Week

• Bitcoin Price Prediction in the next 24 hours is between $26062 and $26497
• Bitcoin Price Prediction this week is between $25963 and $26306

Bitcoin Price Prediction 2023-2030 (Aggregated)

The Bitcoin supply is expected to decrease by 50% in the coming 7 months, which will likely lower the volatility due to reduced supply. Despite the anticipated increase in regulations, Bitcoin’s momentum is projected to continue into 2025 as economies recover from recent challenges. Additionally, a significant surge is predicted between 2025 and 2030, driven by considerable investments in Bitcoin from numerous middle-income countries.

• Bitcoin Price Prediction 2023 is $31309
• Bitcoin Price Prediction 2024 is $60478
• Bitcoin Price Prediction 2025 is $91199
• Bitcoin Price Prediction 2026 is $126318
• Bitcoin Price Prediction 2027 is $158005
• Bitcoin Price Prediction 2028 is $216704
• Bitcoin Price Prediction 2029 is $309500
• Bitcoin Price Prediction 2030 is $439278

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

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

Issues Related to Forecasting

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 in 2022 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 that 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 play

• 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 that are likely to occur but the timing of which is difficult to predict.

Bitcoin Price USD Prediction: Expert Forecasts

Multiple analysts have put forward their Bitcoin Price USD Prediction. Here are a few Bitcoin Price Forecasts:

• Forecasts for Bitcoin’s price by the end of 2023 vary among market experts, with predictions ranging from $40,000 to as high as $70,000. Even more optimistically, one prediction sees Bitcoin surpassing $250,000 by the end of 2024.
• Adam Back co-founder/CEO of Blockstream, has made a bet that Bitcoin will reach or surpass $100k by the Bitcoin halving on 31st March 2024. He has wagered 1 million satoshis with a user named @vikingobitcoin9 on this prediction.
• Crypto trader DonAlt cautions of a possible Bitcoin sell-off amid a consolidation phase around the $30,000 mark. He cites the S&P 500 hitting resistance and upheavals at Binance as contributing factors. However, despite potential risks, he remains bullish, viewing any dips as accumulation opportunities but advises caution between the $30,000 to $32,000 range.
• Former BitMEX CEO, Arthur Hayes, has predicted that Bitcoin’s price could surge to $760,000 per coin if it becomes the favored currency for artificial intelligence (AI) economies. Hayes believes these characteristics make Bitcoin an ideal fit for AI-driven economies.

Analysis by Bitcoms: What is Bitcoin’s potential future valuation, factoring in interest from financial giants like BlackRock, Fidelity, and Vanguard?

• While existing prediction tools estimate Bitcoin’s value at about $1 million per BTC with a $20 trillion capital reallocation, the article suggests, the capital requirement may be lower
  • About 4.4 million of the minted bitcoins might be lost.
  • Around 10 million accessible bitcoins are unlikely to be sold, with half of these never being sold.
  • As Bitcoin’s price volatility decreases, with a $20 trillion capital shift, the price could fluctuate between $1 million and $3 million.
• Given these factors, the article proposes a revised prediction model: “everything divided by 7 million.” This implies Bitcoin could reach $1 million in value with a $7 trillion capital reallocation. Significant reallocation in the short term might require major financial disruptions, making the lower value predictions more likely in the near future.

Bitcoin Price Prediction 2023: Is Bitcoin a Good Investment?

Bitcoin is a blockchain-based cryptocurrency designed to act as both a currency and 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.
• 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.
• 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.
• 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.

How is Stacks Blockchain Extending Use Cases for Bitcoin?

Stacks uses several novel technologies to unlock the full potential of Bitcoin

• It uses a proof-of-transfer (PoX) consensus mechanism, which anchors the Bitcoin network and allows nodes securing the PoX blockchain to earn rewards in Bitcoin.
• For improving transaction throughput, Stacks uses a mechanism called microblocks. These allow the Stacks blockchain to perform state transitions between blocks of the Bitcoin network. By using microblocks, the transaction processing time is significantly reduced, addressing the speed issue​
• Another important feature of Stacks is the Clarity Programming Language, which is a smart contract language designed for the Stacks blockchain.

What are the Latest Payment Statistics?

According to Coingate

• Nearly a Million Crypto payments were made in 2022. This is related to Coingate 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

• Half a million payment transactions were completed in the last 6 months
• Internet and computer games make up 54% of Crypto Payments (Bitpay data only)
• 5% are toward Gift cards (Crashed)
• 36% of the payments are made using Bitcoin, 34% through LTC. Bitcoin has lost its share.

Over 8100 Merchants accept Bitcoin (Rising)

Bitcoin Price Prediction: Price Performance History

Bitcoin has been extremely volatile since the very beginning, with periods of rapid growth followed by sharp declines. Bitcoin’s historical price trends can be discussed in the following phases:

Early years (2009-2012): For the first couple of years, Bitcoin had little to no monetary value. The first known transaction involving Bitcoin was the purchase of two pizzas for 10,000 BTC in May 2010.

First bubble (2013): Bitcoin experienced its first major price increase in 2013, reaching over $1,000 for the first time. This surge was partly fueled by increased media coverage and growing interest from investors.

Mt. Gox collapse (2014): In early 2014, the largest Bitcoin exchange at the time, Mt. Gox, went offline and filed for bankruptcy, leading to a significant price drop. Approximately 850,000 bitcoins were reportedly lost or stolen, shaking investor confidence in the cryptocurrency.

Bull run and all-time high (2017): Bitcoin’s price surged throughout 2017, peaking at nearly $20,000 in December. This run was driven by factors such as increasing institutional interest, the rise of initial coin offerings (ICOs), and widespread media coverage.

Bear market (2018): Following the 2017 bull run, Bitcoin’s price experienced a prolonged decline, dropping by more than 80% throughout 2018. This bear market was attributed to factors like regulatory crackdowns, ICO scams, and market fatigue.

Recovery and new all-time highs (2020-2021): Bitcoin’s price began to recover in 2020 and reached new all-time highs in 2021, surpassing $60,000. This growth was supported by increased institutional investment, mainstream adoption, and the growing narrative of Bitcoin as a store of value.

The Crash of 2022: The year 2022 was marked by several external factors like the Russia-Ukraine War, economic meltdown around the world, the fall of LUNA, and several more. This led to Bitcoin prices falling below $20,000. The price of Bitcoin was almost on the verge of falling below $10,000.

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, 2023

Loss Years: 2014,2018,2022

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.

To read more about Bitcoin, read Bitcoin for Beginners

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

Holders in Profit: 59% (Trending Steady)
Holders in Loss: 38%

BTC Price USD Prediction: Frequently Asked Questions

How high will Bitcoin reach?

At the moment, aggregated forecasts predict Bitcoin will rise above $500k by 2030. Many experts believe Bitcoin could go as high as $1 Million over the next few years. Given the limited number of coins, these forecasts are not improbable. A good indicator of the possibility of a high Bitcoin price is the adoption of Blockchain. Once that becomes mainstream, $1 Million is not an impossibility.

Will Bitcoin crash again?

Past data analysis suggests that Bitcoin could crash again this 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)

Is Bitcoin better than Gold?

Bitcoin is better than Gold for the following reasons

• It is more durable
• It is more safely portable
• It is quite liquid
• It is Divisible
• Gold is better than Bitcoin for the following reasons
• It has a long history of value
• Gold has a wide range of real-life uses and fewer alternatives – Jewellery, Manufacturing
• Gold is ‘relatively’ less impacted by Federal Reserve policies

Risks of Investing in Bitcoin

If the stock market is seen as volatile by many, Bitcoin is 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 various 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 make 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 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 make these decisions.

Bitcoin’s Underlying Technology and Adoption

Blockchain technology: Bitcoin’s underlying technology, the blockchain, is a decentralized and distributed ledger that enables secure, transparent, and tamper-resistant record-keeping. This technology has the potential to revolutionize various industries, including finance, supply chain, and voting systems.

Network effect: As more people and businesses adopt Bitcoin, its network effect grows, increasing its utility and value. However, this growth also presents scalability challenges, such as higher transaction fees and slower confirmation times during periods of high demand.

Mainstream adoption: Widespread mainstream adoption of Bitcoin as a form of payment, store of value, or investment vehicle can influence its price. Factors that contribute to mainstream adoption include ease of use, integration with existing financial infrastructure, and public perception.

Technological advancements: Ongoing technological developments, such as the implementation of the Lightning Network, aim to address Bitcoin’s scalability issues and improve its usability. These advancements can potentially increase Bitcoin’s adoption and value.

Bitcoin Forecast: How to Invest in Bitcoins?

Getting Bitcoins has been made easier by the day. Multiple exchanges are 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.