BTC price prediction 2024

Bitcoin Fundamental Analysis

Bitcoin is the first decentralized digital currency. It was also the first-ever blockchain network launched back in 2009. The idea behind the project that changed the way we think about digital money forever was to create a network where people can transfer money between each other without any centralized intermediary. It positions itself as an innovative payment network and a new kind of money. Bitcoin can be also used as a store of value, in opposition to traditional assets like silver or gold. 

It was launched from an anonymous computer or computers under the pseudonym “Satoshi Nakamoto”. No one really knows the real identity of this person or group of people. Satoshi Nakamoto deployed bitcoin’s original reference implementation, wrote the White paper, and devised the first blockchain database. 

Bitcoin uses peer-to-peer technology to perform the transactions avoiding central banks and any other 3rd parties, paying fewer fees, and having more financial freedom even for those people who are usually cut out from the traditional financial institutions. Since the time it was launched Bitcoin has reached much wider massive adoption and even some of the big companies, for example, Micro Strategy or Tesla hold big amounts of the token. 

The Bitcoin blockchain network processes transactions according to a Proof-of-Work consensus mechanism and new tokens are added to the blockchain through the process known as “mining”. To do that the computer with a strong GPU needs to solve a complicated mathematical equation to count the transaction input. When it's done the machine can add the block to the chain, receiving newly mined tokens as a reward. Each block contains the information (hash) of the previous block, making it hard to fake the ledger. 

Bitcoin crypto, also known as BTC, can have a maximum of 21 million coins, each of them consisting of 100 000 000 satoshis. 

Bitcoin Live Price Chart

After the successful crypto rally in spring 2021, when Bitcoin gained a lot of value it went for a massive price correction during the bearish season of summer 2021. It was trading for around $32 000 - $33 000 during the first two months of the summer, but at the end of July, the BTC price started to rise again. Bitcoin kept gaining value until the beginning of September when its price reached $52000. It was followed by 3 weeks of price correction when the value of BTC dropped to around $42000 and even dipped to $40600 on September 21. 

That period was highly successful for the price of the main cryptocurrency. Massive crypto adoption and a lot of interest from institutional investors made the token price skyrocket again in the autumn of 2021. It was the rise of crypto and a lot of people bought cryptocurrencies for the first time in their lives. According to a survey by TurboTax, 51% of Americans owning crypto bought them in 2020-2021. 

By the end of October, the price of Bitcoin reached almost $66000 then went to a plateau at a level of $60000 and struck again, hitting an all-time high of $68789 on November 10, causing the crypto market cap to reach $2 trillion. 

But from that point, the Bitcoin price chart started to decline. Even though there were periods of price stabilization: in the middle of December Bitcoin was trading at around $46, in the beginning of January it stayed at the level of $42000 for almost 2 weeks, and the overall tendency was downward. 

At the end of January 2022, Bitcoin dipped to $35000, losing almost all the gains of the previous 6 months. The biggest cryptocurrency then recovered its price and went to a plateau, but stayed very volatile. Until the beginning of May, it was bouncing between $37000 and $47000. And from May 6 it started to drop more significantly, reaching $30000 by May 9. On May 11 it was already trading for $28000. That was a new BTC price level for the next month. 

At the beginning of June, the massive sell-off of the cryptocurrencies continued and the price of Bitcoin dropped to a level of 2 years back. Since then it has been trading at around $19000, dipping as low as $17000. Experts see the reason for such a big drop in a short time in a high level of inflation and liquidity concerns. The volatile price of the main cryptocurrency made many investors that entered the market in the last 2 years get rid of the risky assets. 

Many market analysts believe that the Bitcoin price still has a place to drop, but in a bigger perspective, it will gain back its value. 

Bitcoin Technical Analysis

Despite the fact that 100% accurate technical analysis for Bitcoin cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated BTC buy-and-sell rating for selected timeframe. The summary for BTC/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.

Below we have collected the most reliable price projections for Bitcoin (BTC) from popular forecast platforms.

Bitcoin Price Prediction for 2022

As of Bitcoin price predictions for the rest of 2022, there are divergent opinions. WalletInvestor expects an upturn towards $18964.443, and PricePrediction.net echoes with ~$30013.2924 by the year’s end. Other experts, for example, from TradingBeast, are more pessimistic about Bitcoin’s future price, citing numbers downwards of $16117.835 in December.

Potential ROI: 32% Buy

Bitcoin Price Prediction for 2023

In their Bitcoin price predictions for 2023, TradingBeast forecasts the coin’s price to go down to $15309.31 by December. Forecasting Bitcoin future, PricePrediction.net expects further decrease of its price, too, saying the Bitcoin price will reach ~$329.8164 by that time. On the contrary, WalletInvestor keeps predicting Bitcoin price growth, quoting prices around ~$30837.8334 in 2023.

Potential ROI: -6% Sell

Bitcoin Price Prediction for 2024

Bitcoin price predictions for 2024 are still predominantly positive, with some analysts promising prices in the $18318.645–$18799.5348 range (TradingBeast, WalletInvestor), while PricePrediction.net takes a different view and cites the possibility of the price reaching $12697.9314 in December 2024.

Potential ROI: 1% Buy

Bitcoin Price Prediction for 2025

WalletInvestor has only optimism in store for the 2025 Bitcoin price prediction, valuing Bitcoin at $17810.0856 by the end of 2025. TradingBeast agrees with a positive forecast and predicts, in turn, $23581.732 for the same period. On the other hand, PricePrediction.net’s team is more pessimistic — their Bitcoin price prediction for December of this year is just $329.8164.

Potential ROI: -16% Sell

Bitcoin Price Prediction for 2030

Most experts are expecting an encouraging future for Bitcoin: long-term Bitcoin price predictions promise significant growth by 2030. PricePrediction.net predicts the price to reach $19953.8922, while WalletInvestor goes for $26385.312. TradingBeast also puts big hopes on Bitcoin in the long term: its Bitcoin prediction for 2030 is $43626.2042.

Potential ROI: 82% Buy

Summary

As it can be clear from the analysis cited above, Bitcoin (BTC) projections are rather contradictory. There is no universal consensus either about positive or negative future BTC price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Bitcoin projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).

Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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