Bitcoin Price Prediction
This blog post will cover:
- Bitcoin Roadmap
- Bitcoin price prediction 2023
- Bitcoin Price Prediction 2025
- Bitcoin Price Prediction 2030
- Crypto community about BTC
- Bitcoin Historical Price Analysis
Almost every person at least once in their life heard about Bitcoin. Those who are out of step just read or hear the news about BTC. On the other side, there are people who nearly every day or even every hour keep a sharp eye on the Bitcoin price and price prediction of BTC deciding if they need to buy Bitcoin:
Just as in previous years it is extremely hard to know exactly how BTC price will behave. But we can always follow the analytical services and look at what crypto professionals think and predict for Bitcoin. We analyzed some of the services and would like to share those BTC price predictions with you.
We can observe the history of BTC by certain milestones:
- 2008: Domain registered.
- 2009: The genesis (the starting) block was mined by Satoshi Nakamoto which meant the launch of the Bitcoin network.
- 2010: The first commercial transaction using Bitcoin — by buying 2 pizzas.Bitcoin Foundation set in order to promote BTC’s development in 2012.
- 2013: the first time a government agency had removed Bitcoin from the dark net.
- 2015-2016: few software releases from 0.10 to 0.13.0 were published.
- 2017: according to the University of Cambridge research, 2 900 000 to 5 800 000 unique users had a cryptocurrency wallet, most of them were using BTC.
- 2018: a complete ban of Bitcoin in China.
- 2019: YouTube deleted Bitcoin videos. Later they have restored them saying they have made a mistake.
- 2020: the price of Bitcoin set an all-time record of $19,860.
- 2021: the price of Bitcoin set an all-time record of $68,789.63.
- 2023: You can read about the dynamics of the BTC price in 2023 and the main events related to it here.
Bitcoin price prediction 2023
- According to TradingBeasts, we have the following Bitcoin price prediction:
- We can also have a look at the BTC price prediction from Digitalcoinprice:
- Based on the Bitcoin price prediction from WalletInvestor:
- Here is a forecast made by WalletInvestor.com:
From the point of view of cryptocurrency analysis, for the entire period shown on the logarithmic chart of the monthly timeframe, BTC demonstrated upward trends exclusively. The on-chain indicator of the logarithmic price curve Bitcoin Rainbow not only displays market sentiment at various price levels but also perfectly visualizes the steady growth of BTC over a long period.
There are no precedents of Bitcoin losing its leadership within the crypto market. With each year of the existence of the technology, Bitcoin shows more and more tendencies toward further rising in price. The logarithmic capitalization chart from CoinMarketCap shows a steady increase in interest from large capitals in BTC.
In terms of the prospects for BTC in the coming years, given the serious decline in its value and the changes in the economic environment, it can be assumed that the further growth of Bitcoin price will be more moderate.
This graph shows BTC’s growth during the period of covid restrictions, the easing of the monetary policy of the US Federal Reserve, as well as the distribution of government subsidies to the population. Unfortunately, long-term loose monetary policy provoked a high level of inflation. To combat inflation, the Fed increased the rate. The rate raise made government bonds much more attractive, which caused investors to withdraw funds from the high-risk BTC and purchase bonds. This situation led to the continued decline in the Bitcoin price, which is clearly visible on the chart.
As the US Federal Reserve is set to further tighten monetary policy, investors will be more cautious about BTC. What is more, the situation is worsened by the number of recent bankruptcies of crypto companies, and the understanding that manipulations in the crypto market take place due to the lack of regulation. There are no regulations or special laws for the cryptocurrency market, as, for example, in the stock market, where every serious pump or dump is investigated by the Securities and Exchange Commission (SEC). If violations are found there, offenders face serious fines and prison terms. The crypto market, however, is regularly manipulated and it remains the riskiest.
In 2023, we most likely will not see any significant changes and the price will probably be in the range of $17,000 to $25,000 if BTC growth is between 1% and 20% of the average annual growth rate.
Bitcoin Price Prediction 2025
By 2025, in case there are positive trends in the global economy, we might be able to observe an increase, and the price will be in the range of $20,000 to $60,000 if BTC growth is accounted for 2%-20% of the average annual growth rate.
The 2024 halving may also be a positive event, as previous halvings provoked high BTC volatility over the following 1.5 years. The prices grew from $11 to $1,100 during the first halving and from $230 to $20,000 during the second halving. The price grew because of reducing of the reward for the mined blocks in half.
Bitcoin Price Prediction 2030
And by 2030, further development of the crypto industry and progress in accepting BTC as a payment method can lead to the Bitcoin price reaching $89,000 or more if the BTC growth will be over 20% of the average annual growth rate.
Crypto community about BTC
There are also different opinions and discussions regarding the Bitcoin price prediction Bitcoin price prediction among crypto experts and analysts:
- Some of them glorify Bitcoin and predict its tremendous growth.
There was a price prediction of Bitcoin from John McAfee : “When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020. I will still eat my d*ck if wrong.”
"Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.” — Leon Luow, Nobel Peace Prize nominee.
“I do think bitcoin is the first [encrypted money] that has the potential to do something like change the world.” — Peter Thiel, co-founder of PayPal.
- Others are pessimistic, gloomy, and doubtful about Bitcoin success and rise.
Kenneth Rogoff, economist: “But the long history of currency tells us that what the private sector innovates, the state eventually regulates and appropriates – and there is no reason to expect virtual currency to avoid a similar fate.”
“Is the cryptocurrency Bitcoin the biggest bubble in the world today, or a great investment bet on the cutting edge of new-age financial technology? My best guess is that in the long run, the technology will thrive, but that the price of Bitcoin will collapse.”
Peter Brandt, analyst and trader, made this prediction of Bitcoin price in his Twitter: “All along I have stated my belief that there was a 50% chance BTC was going to $100,000 and a 50% chance it would go to $0, or literally zero. Once we broke through 7500 I place my bets on zero.”
- While a proportion of people stays neutral.
Tone Vays, Bitcoin specialist and trader in his conversation to ChainTalk: “I can see Bitcoin rising to as high as $8,500-9,000 on this run up over the next month or two, after that I think it will pull back down but I don’t see Bitcoin falling under $5,000 again. If the economy continues to be poor, Bitcoin will probably not go up much because people will just not risk the money they have left on Bitcoin. As for end of 2020, I think Bitcoin will be around $10,000.”
Bitcoin Historical Price Analysis
The price of Bitcoin has undergone many changes throughout its existence.
Bitcoin didn’t have any value in 2009. It appeared by June, 2011 — $29.60.
2012 was a pretty dull year for Bitcoin, but 2013 was the time of price leaps. On April 8 it reached $230, then it fell again to $68.50 by July 4.
Coin went on another rollercoaster till 2015 when its price went up to $315.21.
In 2016 prices were also going up. They got over $900 by January.
December 2017 was the time when Bitcoin flew up to $19,345.49. This was a reason for investors, startupers and economists to create their own cryptocurrencies that could compete with BTC.
In 2020 the economy collapsed because of the pandemic we are still suffering from. But that was also a boost for the price of Bitcoin — it was trading for $19,157.16. Then the 416% increase followed, when BTC was selling at $29,000.
Bitcoin needed just a few months to beat the 2020 high score. Just by the middle of April the price exceeded $60,000 as far as Coinbase disclosed.
On November 10, 2021, BTC reached $68,990.90 and fell down to $49,243.39.
Due to the fact that the price changes all the time, there are people who regret their early decision to sell Bitcoin or didn't buy Bitcoin on time:
Bitcoin's volatility depends mostly on the news of companies and banks. For instance, when Tesla bought BTCs for $1,5 billion, the price instantly increased. But right after they declined accepting BTC as a payment method, it went down by 10%.
Afterwards, other events influenced the currency’s stability. China announced some new restrictions on crypto. All the cryptocurrency services provided by banks were forbidden. Miners left the country because of the set of limits. Hashrate has fallen down and so has the BTC price.
The Bitcoin price depends on various factors like news, expert statements and predictions, media, and many other things. To sum up the predictions we went through in this article, it can be said that generally almost all predictions are quite the same, only enthusiasts and skeptics have their divergent views. According to the last year's results, Bitcoin was the most profitable investment tool. Will it be the same in the future? We'll see.
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.