Bitcoin (BTC) Price Prediction 2024-2030: Will BTC Price Hit $100,000 Soon ?

• The bullish BTC price prediction ranges from $75,000 to $90,000.
• Analysis suggests that the BTC might also reach $92,872 in 2024.
• BTC’s bearish market price prediction for 2024 is $58,809.

Bitcoin (BTC) is the most prominent cryptocurrency with tremendous growth potential. Over the years, BTC has also gained significant recognition in the economy, being acknowledged by governments and used as a medium of payment among users. Bitcoin was first defined as a decentralized digital currency in an essay published in 2008 under the identity of Satoshi Nakamoto. It debuted in early 2009, not long afterward.

As a decentralized digital currency, Bitcoin eliminates the need for a central authority to process or verify transactions. As Nakamoto put it, “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”

Although there have been earlier proposals for decentralized electronic currencies, Bitcoin is the first cryptocurrency to be widely used. Below, we detail the primary considerations that led us to this conclusion on Bitcoin’s future price. If you are interested in learning about BTC’s future and want to know its predicted value for 2024, 2025 and 2030 keep reading!

What is Bitcoin (BTC)?

Bitcoin is a decentralized digital currency that may be bought, sold, and exchanged without using an intermediary such as a bank. Satoshi Nakamoto, an unidentified developer or group of developers, introduced Bitcoin to the world in 2009.

All Bitcoin transactions are recorded in a public ledger, and copies are kept on servers worldwide. Anyone with a spare computer can set up a node or server. Instead of relying on a central source of trust like a bank, consensus on who owns which coins is achieved cryptographically among these nodes.

It has since become the world’s most well-known cryptocurrency, and its prominence has sparked the creation of numerous altcoins. These rivals attempt to replace it as a payment method or are utilized as utility or security tokens in other blockchains and new financial technologies. Furthermore, by influencing altcoins, Bitcoin has a tremendous impact on the digital asset market. 

Let’s now briefly examine the factors that could influence Bitcoin’s price.

Factors Influencing Bitcoin Price

Bitcoin started this year by reaching a new level in 2024. Additionally, BTCs have been fluctuating positively and negatively based on various factors. What are the diverse factors that have been influencing BTC’s price? Let us now investigate the elements influencing the early and present BTC prices.

Factors That Influenced the Early Bitcoin Price

User adoption could be one of the factors that may influence the price of Bitcoin. The currency’s popularity can cause prices to rise, while a lack of demand for the currency might cause its value to fall. In the initial stages, BTC price surges were influenced by investors’ and early crypto community members’ demands. Individuals, governments, institutional investors, and multinational organizations are all adopting Bitcoin, so it is expected that the price will rise to new highs over the years.

Between 2012 and 2018, the number of Bitcoin addresses holding between 100 and 1,000 BTC steadily climbed, highlighting investors’ confidence in BTC. Additionally, as the mining difficulty reduced between 2012 and 2015, the price of Bitcoin also experienced a fall, only to rise again in 2016. BTC’s price and the difficulty of Bitcoin mining increased significantly between 2016 and 2017, considerably slowing down Bitcoin’s growth.

Unlike conventional money, Bitcoin has a fixed amount of 21 million. When 210,000 blocks are mined, the payout from Bitcoin mining will be cut in half. Since inception, the reward has been halved twice, dropping from 50 BTC to 12.5 BTC. This happens every four years, on average.

The halving of Bitcoin rewards has also significantly impacted the mining sector. The hash rate dropped after the first and second halvings but rebounded. Throughout 2018, as Bitcoin’s mining rewards fell, it was reported that few miners had left the industry, causing the price of BTC to fluctuate. However, there seems to be a broader acceptance of Bitcoin nowadays. It was observed that the hash rate started stabilizing at the beginning of 2019, indicating a bullish market.

Factors Influencing Current BTC Price

US Federal Reserve Policy: When the Fed raises interest rates, the value of fiat money falls, resulting in a drop in crypto market investment. The Fed meeting is a volatile event that traders must record on their calendars. 

As a result, the Fed’s interest rate hike could influence the crypto and stock markets by lowering the value of fiat money. Bitcoin and other cryptocurrencies have also seen a drop in investment as investors seek a safer, more rewarding alternative.

Industry Development: Market participants invest in new and innovative products to establish the Bitcoin market. For instance, Bitcoin’s Exchange-Traded funds (ETFs) provided by major financial institutions could drive BTC’s price up. 

Several crypto exchanges are expanding their scope to capitalize on the burgeoning Bitcoin and cryptocurrency sectors. The market incentives for Bitcoin decreased during the BTC halving event. Moreover, the price of Bitcoin has increased by almost 300% since May 2020, when the number of coins was cut in half. After observing the fluctuations, it was noticed that the price of Bitcoin increased by 8,000% and 600%, respectively, after halving price events in 2012 and 2016. Halving the mining incentive seems to substantially impact the price of Bitcoin, doubling the asset’s stock-to-flow ratio.

Bitcoin Taproot: Due to its higher transaction fees and slower transaction pace than other blockchains, Bitcoin has frequently been mocked as a blockchain by some users. However, the introduction of the Taproot upgrade, which addressed these issues and provided a framework for the Bitcoin blockchain to be more receptive to smart contracts, NFTs, and DeFi, received mixed user reviews. 

The Taproot upgrade saw a HODL-specific long-term effect because the network supports and processes several smart contracts, much like Ethereum. Investors and traders also observed that the Taproot upgrade made BTC’s price cross above $65,000 in November 2021.

Pros and Cons of Bitcoin

Let us all understand why Bitcoin is suited for today’s generation and must be handled correctly to avoid risks and losses. The following are some Bitcoin pros and cons.

Pros

• Bitcoin enables seamless transactions within a few seconds.
• Bitcoin’s wallet’s private key protects your BTCs from any hacking attempts.
• BTC offers verifiable and transparent transactions.
• Assets can be sent directly to a merchant without the interference of a third party.
• Growing acceptance of BTC leads to the asset’s great liquidity.

Cons

• BTC is volatile.
• Transactions are irreversible.
• Unsustainable process of BTC mining.
• Crypto wallet vulnerabilities – we cannot recover a lost private key.

Moreover, Bitcoin is one of the most discussed digital assets, and the crypto community still ponders BTC’s future price. Will Bitcoin’s value surpass $70,000? Let’s take a look at the Bitcoin price analysis for 2024.

BTC Current Market Status

Bitcoin (BTC) is experiencing a solid bullish momentum, trading at a market value of approximately $74,770, marking a 9.06% increase in the last 24 hours. This rally has pushed BTC’s market cap to $1.48 trillion, representing a 9.07% uptick, with a 24-hour trading volume surge of over 102%, reaching $84.09 billion.

Following this rally, BTC hit a new all-time high of $75,011, showcasing strong upward pressure despite slight weekly fluctuations. A closer look at recent performance shows BTC oscillating between $68,543 and $75,011 in the past 24 hours, underscoring increased volatility.

Historical trends further reveal the impact of the 2024 BTC halving, which has set the stage for this ongoing price surge, aligning with patterns observed in previous halving cycles. Long-term projections based on historical halving trends suggest a potential target within the $100,000 region in the upcoming cycle, further buoying investor sentiment.

With BTC’s circulating supply at 19.78 million against a capped maximum of 21 million, the supply constraint remains a significant factor supporting price growth amid increased demand.

Bitcoin (BTC) Price Analysis

According to technical indicators, Bitcoin’s outlook is decidedly bullish, with a Fear & Greed Index reading 69. This market outlook signals a market leaning toward greed. Moreover, over the past month, BTC has seen positive momentum, closing 14 out of 30 days in the green despite a moderate price volatility of 4.52%. So, could these indicators signal a prime entry point, or should caution prevail? Let’s explore this Coin Edition price analysis for a deeper look.

Bitcoin (BTC) Price Analysis – Bollinger Bands

Bitcoin’s (BTC) price has surged past the upper Bollinger Band around $73,134, signaling strong bullish momentum. Trading near $74,417, BTC remains above the middle band support at $63,062, indicating buyers are in control. Additionally, the token’s widening bands suggest increased volatility, with the lower band at $52,990, offering a safety net for potential pullbacks.

Historically, breakouts above the upper band often lead to extended rallies, suggesting BTC could reach new highs if it sustains this momentum. As BTC holds near this resistance, the bullish outlook remains strong, with potential for further upside if the breakout solidifies.

Bitcoin (BTC) Price Analysis – Relative Strength Index

As of press time, BTC’s weekly RSI sits at 63.80, edging closer to the overbought threshold of 70. This level reflects solid bullish momentum, with BTC’s price rallying to approximately $74,437. The steady RSI rise from the mid-50s indicates mounting buying pressure, signaling the possibility for continued upward movement.

Historically, the cryptocurrency tends to face resistance when the RSI crosses overbought territory, often leading to short-term pullbacks. However, with the RSI still below 70, there remains room for further gains, suggesting that Bitcoin’s bullish trajectory could extend before encountering resistance.

Bitcoin (BTC) Price Analysis – Moving Average Convergence Divergence

The MACD indicator on Bitcoin’s weekly chart signals a strengthening bullish trend. This is evident as the MACD line recently climbed to 2,786.74, above the signal line at 1,938.32, highlighting upward momentum. Additionally, the histogram bars have turned green, indicating positive momentum with increased intensity, which suggests sustained buying pressure.

This bullish crossover generally indicates a continuation of the upward trend, aligning with BTC’s recent price rally to around $74,534. As long as the MACD line stays above the signal line, the bullish sentiment remains strong, supporting further potential price gains.

Bitcoin (BTC) Price Prediction 2024

The DMI for Bitcoin shows a modest bullish inclination, with the +DI at 23.8815, exceeding the -DI at 17.6148, indicating more potent buying pressure over selling pressure. This aligns with BTC’s recent upward trend. However, the Average Directional Index (ADX) is at 18.3202, signaling a relatively weak trend.

This low ADX value suggests that, while buyers are currently in control, the trend’s momentum is not particularly strong. For BTC to confirm a more robust bullish trend, the ADX would need to rise, indicating strengthening momentum in the current price movement.

Given this positive price outlook, the BTC token is anticipated to reach a peak of $92,872 by year’s end, aligning with the 127.20% Fibonacci extension level. Conversely, with a shift in market sentiment to the downside, the cryptocurrency could witness its market value retest its previous support levels around the $58,809 mark.

Bitcoin (BTC) Price Prediction 2025

Per Coin Edition’s projections, BTC could peak at $143,898, fueled by post-2024 halving momentum and rising institutional interest. Conversely, market corrections and profit-taking could see lows around $75,120 as investor enthusiasm tapers.

Bitcoin (BTC) Price Prediction 2026

Coin Edition anticipates BTC exhibiting market corrections in 2026, which could drive its market value down to the $30,492 threshold as enthusiasm wanes and profit-taking intensifies. On the brighter side, the cryptocurrency could reach a high of $65.234 despite fading halving effects.

Bitcoin (BTC) Price Prediction 2027

According to our forecast, BTC may surge to $102,825 as market optimism grows in anticipation of the 2028 halving and a market recovery from its previous year. On the downside, BTC could revisit $71,906 if bearish sentiment or market volatility prevails.

Bitcoin (BTC) Price Prediction 2028

Coin Edition projects BTC hitting a high of $187,214 with renewed halving excitement and heightened demand. In a downturn, prices might fall to $92,872 amid volatility and cautious trading around the halving event.

Bitcoin (BTC) Price Prediction 2029

According to our analysis, BTC could climb to a new all-time high of $243,806, supported by strong community backing and post-halving bullish sentiment. If market dynamics shift, BTC may test a low of $187,214 as sentiment stabilizes post-rally.

Bitcoin (BTC) Price Prediction 2030

Per Coin Edition’s estimates, BTC might experience a bearish correction that could drive its price down to $162,963 as market euphoria levels off after the extended bull phase. Conversely, the token could peak at around $220,398 due to increased widespread adoption and scarcity.

Bitcoin (BTC) Price Prediction 2040

Long-term projections suggest BTC might reach $500,000, driven by institutional adoption and decreasing supply. Economic challenges or alternative investments could see BTC lows of $450,000 as market dynamics evolve.

FAQ

More Crypto Price Predictions:

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• Ethereum (ETH) Price Prediction 2024-2030
• Dogecoin (DOGE) Price Prediction 2024-2030

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.