Bitcoin Price Prediction20 days ago by Anna Key
- Bitcoin price ranges from $66,484.07 to $82,264.71.
- Bitcoin highest expected price is $100,806.36.
- Bitcoin lowest expected price is $58,435.468.
This Bitcoin (BTC) price prediction is based on technical information collected from multiple reliable sources.
First launched in 2009 by an unknown person or a group, who goes by the pseudonym Satoshi Nakomoto, Bitcoin is a massive success today. At the time of writing this article, Bitcoin has surpassed its ATH and is increasing steadily.
Bitcoin Market Overview
Ticker Symbol: BTC
BTC Price: $64,681.1952
Week High: $68,990.90 52
Week Low: $15,481.0124H
Value Transacted: $16.42B
Total Supply: $18.87M
Max Supply: $21.00M
Do We Need Bitcoin Today?
Bitcoin (also referred to as BTC) is not only the first cryptocurrency ever created but it’s also the most traded coin on the market today among thousands of other coins. Its enormous success is all thanks to the original concept of Bitcoin. Bitcoin is a decentralized digital currency that anyone can buy, sell or trade without the need for an intermediately.
Bitcoin works on a blockchain: every BTC transaction ever made is kept on a public ledger and open to everyone. Bitcoin uses a proof-of-work algorithm to validate and confirm each transaction, which is extremely difficult to fake. However, they can be traced back. But this should not be a concern. Bitcoin is legal in most developed countries, including the U.S.
The pandemic has shown us how unstable world economies are today. We have become interested in investing, particularly investing in Bitcoin. Digital currency could be the first step to developing a global currency. The digital currency operates universally. We can transfer and store the value that is resistant to manipulation.
In today’s world Bitcoin is used as a legal tender in El Salvador. A number of countries are already planning to implement BTC as their legal tender in the near future. Bitcoin has even overtaken Tesla by market cap and is one of the top eight assets. Major financial institutions are already planning to trade cryptocurrencies in the future, and some schools want to incorporate crypto studies as part of the curriculum.
Bitcoin or Fiat Money?
Both Bitcoin and fiat currency depend on their acceptance value around the world. That value directly affects their credibility. Bitcoin is only limited to 21 million coins. The existing scarcity adds to the value. You can use Bitcoin and fiat money to pay for services and buy goods. They are divisible - for example, a US dollar can be divided into cents and 1 BTC can be sliced into as little as 0.00000001 BTC. However, there are certainly more differences than similarities regarding Bitcoin and fiat currency.
Fiat money is produced by the government. New banknotes are printed regularly. The excess quantity of fiat money can result in inflation or dropped value. However, as we have mentioned before, Bitcoin is only limited to a certain amount, making it of high value. Regular banknotes can be damaged, ruined, and need to be replaced. Part of the freshly printed supply goes to compensating for the damaged banknotes. Obviously, Bitcoin faces no such problem and is, in fact, more durable, as it does not have a physical form.
Another factor that makes Bitcoin better compared to fiat money is its security and safety. As said above, Bitcoin is a decentralized digital currency that works on a public ledger (blockchain). All transactions are kept on the ledger. Each ledger goes through multiple accuracy checks. Chances of fraud are extremely low, especially if we compare Bitcoin and physical currency, which does require a third party approval (e.i. the bank) for each transaction.
Bitcoin Price History 2013-2021
As we all know, Bitcoin price is prone to swift changes. Perhaps, this is one of the elements that, in fact, contributed to BTC’s popularity and growth.
Bitcoin began showing first prominent signs on the exchange only in 2013 when it began trading at $13,50.
In late November 2013, the price reached $1,242. The price soared due to newly emerging exchanges and miners in China.
However, it later experienced a massive drop. Some kind of stability was achieved when the price rose back to $920 in January 2014.
In the first week of February, Bitcoin was trading at around $850, but later saw a massive fall of 32%. The price continued to fall, the 2012-2013 Cypriot financial crisis being the reason why. There seemed to be no hope for Bitcoin and some holders lost their faith in the future of crypto.
Bitcoin was trading at around $315 at the beginning of 2015, and the price stayed relatively stable throughout the year.
By early 2017 BTC broke the $1000 mark. On 20 May 2017, Bitcoin passed $2000 for the first time. Bitcoin started attracting new investors and slowly restoring their confidence in crypto. On December 17 of the same year, Bitcoin surpassed $19,783 in trading price. Comparing the beginning and the end of the year, Bitcoin rose 1,824% in value.
However, Bitcoin crashed rapidly to below $7,000 by April 2018. The value dropped by 50% in only 16 days. On the 19th anniversary of Bitcoin, in October 2018, BTC was traded at around $6,000. The price held steady for a few weeks before briefly dropping below $3,300 (the lowest rate in 15 months).
The year 2019 is known as the “Renaissance phase” for Bitcoin. By June 2019 the price reached a new ATH of $10,000, dropping in early 2020 due to the pandemic. It did not take long for BTC to recover, though. The price fully recovered in July 2020, surpassing the previous ATH.
As we know, BTC prices kept growing, as more and more people showed interest in cryptocurrency. As of today (early November 2021), the new ATH mark for Bitcoin is held at $68,990.90.
Bitcoin has become the best performing asset of the decade with a 10-year compound annual growth rate of 200.53% (CAGR). This means that if you had Bitcoin for 10 years, you could have gained 6,000,000%.
Can Bitcoin Reach $100k?
Despite Bitcoin having a rough history, many holders and crypto enthusiasts believed that neither the $10,000 nor $20,000 price mark would be enough for Bitcoin. What do we have today? Bitcoin is reaching new ATH, with the current record high of $68,990.90. No wonder many crypto experts support the idea of Bitcoin reaching new peaks and becoming even more popularized globally.
There are several reasons why Bitcoin is more than likely to reach $100k in trading price soon.
Bitcoin is being adopted in countries around the world. Some implement BTC as their tender, others invest and/or hold crypto. According to public surveys, 40% of responders from Asian countries like India, Pakistan, and Vietnam hold cryptocurrency. Imagine how drastically the situation will change if western countries adopt crypto? On the contrary to Asia, less than 10% of crypto holders are from the U.K. and the U.S.
Some experts believe the situation will change rapidly. Nowadays, more than 80% of central banks around the globe are actively implementing the new digital currency system. Some countries, as mentioned above, have even adopted Bitcoin as legal tender. Both Google and Meta (previously known as Facebook) have partially lifted their crypto ads ban off.
Having seen recent dynamics, we can be sure that the demand for Bitcoin will only continue to grow. Perhaps, even faster than it is today.
Known as ‘artificial gold’, Bitcoin has provided a strong shield against turmoil, inflation, or any other potential crisis, just like gold. Nevertheless, Bitcoin does beat gold when it comes to correlations with other assets. It has brought some diversity into the financial world. In our world, as we know it today, nothing is stable. We are fighting climate change while going through a pandemic at the same time.
At such unstable times, Bitcoin could be the perfect solution. Its speculative appeal and boldness on the market is what makes it future-proof and gives us an opportunity that Bitcoin will reach 100k and beyond. It may be a bumpy ride, but things are not looking too bad for the crypto community right now.
As of now, roughly 18.8 million Bitcoins have been mined. The total number of Bitcoin that can be mined (21 million) is estimated to run out by the year 2140. The growth in demand also affects the price. Several factors indicate that Bitcoin will continue to grow.
Visa saw one billion dollars flow through their crypto-linked cards in the first six months of 2021. Retail and consumer transactions will most likely become two of the main sources of demand for implementing BTC.
Future of Bitcoin. Experts’ Bitcoin Price Prediction
Let’s take a look at what experts have to say about the future of Bitcoin.
Michael Saylor has made a pretty bold statement. According to the American entrepreneur and MicroStrategy CEO’s BTC price prediction, Bitcoin will soon top the $10 million mark. In one of his latest interviews, Saylor discusses the future of cryptocurrency, in particular Bitcoin.
“This is the future of digital money.”
“If you don’t think Bitcoin is going to $1 million a coin and then $10 million a coin, I don’t think you should be a Bitcoin miner, I don’t think you should be a Bitcoin exchange, I don’t think you should be a Bitcoin wallet. I don’t think you should... I just don’t think you should be. You shouldn’t be a pure-play focused on the business at all because you’re already a loser. You’ve already decided you’re gonna lose.”
“The competition on the market is making my Bitcoin more valuable. That’s good.”
These are just some quotes from Saylor’s interview.
Most users seem to agree with Saylor:
Some, however, have a few doubts:
Youtube crypto enthusiasts even go further as to predict the exact time Bitcoin will reach new ATH. For example, the Youtube channel Crypto World Josh analyzes the latest price movements for Bitcoin and makes his prediction -- Bitcoin will get to the $108K mark only in three weeks.
To further back up the general opinion that Bitcoin price will rise, here is another BTC price prediction from JPMorgan:
“JPMorgan analyst Nikolaos Panigirtzoglou has predicted that the price of bitcoin could reach $146K in the long term, with a short-term price target of $73,000 for 2022. He added that institutional investors are dumping gold for bitcoin seeing it as a better inflation hedge.”
Lark Davis from @TheCryptoLark on Twitter is also positive about the future of Bitcoin. According to the expert, Bitcoin will reach $98K this month already.
@BTC_Archive agrees. His inevitable BTC price prediction is 100k is in the near future.
Bitcoin Price Forecast
Predictions from TradingView watchers show that Bitcoin is inevitably going to break its current ATH and experience new historical peaks. In this particular graph, targets are set at $70,000, $75,000 and $78,000. The uptrend will continue.
Recently, Bitcoin reached a new ATH -- $68,990.90. To continue to grow BTC needs to break two resistance points. There are two supports for the price in case of a sudden drop. Key Area, pointed on the graph, is essential to stay above, in order to confirm this breakout for Bitcoin.
Since reaching a 60k psychological support level, Bitcoin is not expected to drop lower than $60k and is reaching to explore new ATHs.
Alternative Bitcoin Price Prediction For 2021-2028
Let’s look at some alternative price assumptions for Bitcoin. Digitalcoinprice.com shows steady gradual growth. Bitcoin price prediction 2021, according to the website, is $100,806.36.
By 2028 Bitcoin is supposed to increase. The BTC price prediction illustrates the $298,990.58 mark. The price of 1 BTC can roughly be up to $112,720.78 in 1 year’s time, nearly twice as much as the current Bitcoin price.
However, according to TradingBeasts, Bitcoin is not going to increase. It will stay relatively the same. Some experts predict the price will slowly drop next year.
WalletInvestor.com has also released its short-term and long-term Bitcoin price prediction. According to the website, Bitcoin will continue to rise. The long-term potential is +47.79%. The website indicates the 2026 BTC price prediction. It is set to reach $220,464.
From what we know, 2021 has been a successful year for Bitcoin. With the ongoing upward trend, Bitcoin price will most likely only continue to increase. Most predictions are positive. They show just how much BTC has influenced today’s digital currency world. It is expected that Bitcoin price will reach from $73,365.846 to $116,449.89 per 1 BTC next year. It is never too late to start trading Bitcoin. Most watchers recommend investing in Bitcoin, even if you’re only starting today.
What is Bitcoin (BTC)?
Bitcoin (BTC) is a decentralized digital currency that anyone can buy, sell or trade without the need for an intermediately.
Bitcoin works on a blockchain: every BTC transaction ever made is kept on a public ledger and is open to everyone.
Is Bitcoin better than feat money?
Bitcoin is limited to a certain amount (21 million coins), making it of higher value than fiat money. Bitcoin does not require an intermediate for processing transactions. The chances of Bitcoin fraud are extremely low. Bitcoin is a safe and secure way that can be used to pay for services and buy goods.
Can Bitcoin reach $100k?
Its speculative appeal and boldness on the market is what makes it future-proof and gives us an opportunity that Bitcoin will reach 100k and beyond. It may be a bumpy ride, but things are not looking too bad for the crypto community right now.
Will Bitcoin go up?
According to the majority of experts, Bitcoin will go up. The long-term potential is roughly +47.79%.
Is Bitcoin a good investment?
Most experts and crypto enthusiasts recommend investing in Bitcoin, even if you’re only starting today. Experts’ Bitcoin price prediction indicates growth from $73,365.846 to $116,449.89 per BTC next year.
What is the estimated Bitcoin price by 2022?
Bitcoin price prediction 2022 is from $73,365.846 to $116,449.89.
What is the estimated Bitcoin price by 2023?
Bitcoin price prediction 2023 is $130,730.40.
What is the estimated Bitcoin price by 2024?
Bitcoin price prediction 2024 is $169,651.97.
What is the estimated Bitcoin price by 2025?
Bitcoin price prediction 2025 is $197,570.06.
What is the estimated Bitcoin price by 2030?
According to experts, Bitcoin will continue to grow throughout 2021, hitting new ATHs at roughly $82,264.71--$100,806.36, before climbing up to $197,570.06 by 2025. Bitcoin price prediction 2030 is $5 million per 1 BTC.