Bitcoin Price Prediction 2024-2030: Will BTC Price Surpass $100K Post-Halving?

Key takeaways

• Bitcoin price faces intense volatility around $58K.
• Our BTC price prediction expects BTC price to reach $100K by the end of 2024 due to bullish sentiment following halving event.
• By 2030, BTC might touch $270,593 following increased institutional adoption.

Bitcoin’s price has once again faced resistance around the $70K mark, marking the third bearish reversal this year. This pattern, supported by various bearish indicators and technical data, suggests a potential trend reversal. However, analysts still believe that Bitcoin could reach $100,000.

As the second quarter closes at a subdued pace, the onset of Q3 sees a breakout rally with ambitions to quickly exceed $70K. Rising from the vital $60K support level, there is growing hope in the market about the onset of a sustained bull market.

CryptoQuant’s CEO, Ki Young Ju, noted in a recent X post that in 2020, Bitcoin stayed around the $10,000 mark for six months amid high on-chain activity, before surging to $64,000 in 2021. Observing 2024, a similar pattern is emerging, with daily additions of $1 billion to new whale wallets. 

However, despite mixed spot Bitcoin ETF flow, the US Bitcoin sentiment develops a bullish trend as BTC HODLers are anticipating a continuous uptrend beyond $75,000. This has led analysts to think: Will this lead Bitcoin price past $100,000?The current BTC trading sentiment is bullish as Bitcoin traded at its highest point in pre-halving rally. Since 2024 is bullish for the crypto market, anticipation is that the BTC price could hit $100K during this season.

As Bitcoin on-chain activities surge, questions arise, such as: “Does Bitcoin have the potential of hitting the $100K mark?” or “Will Bitcoin ever go up?” or “Where will Bitcoin be in 5 years?” Let’s answer them using our Bitcoin price prediction.

Overview

Bitcoin Price Prediction: Technical Analysis

Bitcoin Price Analysis

BTC price faces bearish pressure around $58K

TL;DR Breakdown

• BTC price analysis shows that Bitcoin faced bearish pressure around $58K
• Resistance for BTC is present at $60,197
• Support for BTC/USD is present at $56,283

The BTC price analysis for 19 August confirms that Bitcoin price is facing an increased bearish pressure around the $58K mark. Bitcoin price is now aiming for a quick recovery above the immediate resistance level.

BTC price analysis 1-day chart: Bitcoin price faces bearish volatility around $58K

Analyzing the daily price chart of Bitcoin, BTC’s price faced intense pressure as the price failed to hold its bullish momentum. As a result, Bitcoin price is now aiming for a drop below the $58K mark. The 24-hour volume has declined to $1.09 billion, showing a decreased interest in trading activity today. BTC price is currently trading at $58,289, decreasing by over 0.6% in the last 24 hours.

Bitcoin price faces intense volatility

The RSI-14 trend line has surged from its previous level and currently trades below the midline at 44, hinting that a bullish pressure is on the edge. The SMA-14 level suggests volatility in the next few hours.   

BTC/USD 4-hour price chart: Bulls aim for an immediate correction

The 4-hour Bitcoin price chart suggests that bears are strengthening their position as they are aiming to hold the price below the EMA trend lines. However, bulls are maintaining buying confidence as the BTC price aims for a retest of resistance.

Bitcoin aims for immediate correction

The BoP indicator is trading in a positive region at 0.22, showing that short-term buyers are taking a chance to accelerate an upward trend.

However, the MACD trend line has formed bearish candles below the signal line and the indicator aims for a negative momentum, strengthening short-position holders’ confidence.

Bitcoin Technical Indicators: Levels And Action

Daily Simple Moving Average (SMA)

Daily Exponential Moving Average (EMA) 

What to expect from BTC price analysis next?

The hourly price chart confirms that Bitcoin attempts to drop below the immediate support line; however, bulls are eyeing for further recovery rally in the upcoming hours. If BTC’s price successfully holds its momentum above $60,197, it will fuel a bullish rally to $62,907.

BTC/USD Chart On TradingView

If bulls fail to initiate a surge, BTC price may drop below the immediate support line at $56,283, which may begin a bearish trend to $53,046.

Is Bitcoin a Good Investment?

The rising institutional demand for Bitcoin makes it a good investment option. Bitcoin has a short investment history that is filled with very volatile prices. Whether it is a good investment depends on your financial profile, investing portfolio, risk tolerance, and investing goals.

Why is Bitcoin Down Today?

Bitcoin faced intense selling pressure today as it dropped below the crucial $64K support line. This created a surge in stop-loss order for holders. However, buyers are defending further declines and they are currently aiming for a quick recovery.

Will BTC Price Recover?

If buyers hold the buying momentum of Bitcoin and send it past the $68K mark, we might see a significant recovery in the coming hours. The current low might be a good time to buy and this might create a strong support level for BTC price.

Will BTC Price Reach $100K?

Depending on the current market sentiment, Bitcoin price might hit the $100K mark by the end of 2024. However, any bearish news might weaken this prediction.

Will BTC Price Reach $1 Million?

$1 Million is a significant milestone for BTC price. However, it is achievable if Bitcoin continues to attract institutional interest in the coming years.

Is Bitcoin a Good Long-Term Investment?

As several institutions continue to accumulate BTC and Bitcoin faces a rise in global recognition, Bitcoin has a solid long-term future.

Recent News

U.S. spot bitcoin exchange-traded funds experienced another day of inflows, attracting $21.52 million on Thursday. Leading the gains was Fidelity’s FBTC, which saw an increase of $19 million.

Bitcoin Price Prediction August 2024

July proved to be a volatile month for Bitcoin, characterized by significant price fluctuations. Is there hope for a turnaround in August? 

July was a rollercoaster month for Bitcoin, with its price peaking at $70,000 and dipping to just over $53,000. Ultimately, sellers gained the upper hand, resulting in an overall price decline of approximately 7%.

However, the BTC trading volume is surging, and the market is experiencing a widespread rise in bullish sentiment due to the Ethereum ETF, which suggests an upward trend. However, the current retest phase indicates that bullish momentum is lacking.

Bitcoin price might attempt to surge toward $74,000 from its recent low, and this number be pushed further, at least $78,000, if the strong downwards pressures are not seen. However, on the bearish side, we might see a rejection, leading to a consolidation within $60K-$55K.

Bitcoin Price Prediction 2024

Historically, Bitcoin usually carries as the significant crypto coin in the year following a halving and it is expected that this will push up its price. Bitcoin miners might play a crucial role in holding bullish sentiment for future price movements.  

Bitcoin spot ETFs are projected to be a key driver of Bitcoin prices and the broader cryptocurrency market in 2024. According to Glassnode, approximately $70 billion of new capital is expected to flow into the crypto market through these newly launched Bitcoin ETFs.

Furthermore, there is an increasing bullish sentiment that the base interest rates could be cut in the US, and thus, help to further the upward movement of Bitcoin. An outcome of which the 2024 year could be positive for Bitcoin, with its crypto-price perhaps touching $110,000 in the highest and the low could be around $48,000.

Bitcoin Price Predictions 2025-2030

Bitcoin Price Prediction 2025

The Bitcoin Halving event’s impact is expected to last into 2025, potentially holding the Bitcoin price above the $100,000 mark. If the global economy strengthens and inflation stabilizes at 2%, interest rates could be reduced by 2025.

Clearer crypto regulations could boost BTC investor confidence, leading to more buying demand amid scarcity due to halving.

Following the halving event over the next 12-18 months, BTC price is expected to surge toward $160,000, with a minimum price of $95,000.

Bitcoin Price Prediction 2026

Bitcoin might witness a slow growth after 2025’s halving surge, resulting in a surge in selling pressure. However, more financial products including a surge in ETF demand might hold BTC price within a bullish region. We might see a maximum price of $185,000, with a minimum price of $115,000 and average price of $130,000. However, BitMEX Ceo Arthur Hayes predicted the BTC price to touch $700K in 2026.

Bitcoin Price Prediction 2027

Based on detailed technical analysis of past Bitcoin price data, it is projected that in 2027, Bitcoin could see a minimum price of $140,491. The potential maximum price is estimated to be $216,738, with an average value of $170,100.

Bitcoin Price Prediction 2028

By 2028, Bitcoin’s price is expected to possibly reach a low of $164,063. Maximum price projections are as high as $244,142, with the price averaging about $185,068 for the year.

Bitcoin Price Forecast 2029

Projections for 2029 suggest that Bitcoin could be valued at a minimum of $195,629. The price may peak at as much as $255,321, with an average throughout the year expected to be around $200,312.

Bitcoin (BTC) Price Prediction 2030

For the year 2030, the forecast suggests that the price of Bitcoin could start at a minimum of $225,903 and potentially rise to a maximum of $270,593. The average price is anticipated to stabilize at about $248,568 throughout the year.

Read more: Bitcoin into the last april weekend 2024 – btc halving chronicles

Bitcoin Market Price Prediction: Analysts’ BTC Price Forecast

• CoinCodex predicts Bitcoin’s price could reach $158,827 by 2025, using the Bitcoin Rainbow Chart based on past volatility and the cyclical nature of Bitcoin Halving events.
• Cathie Wood of Ark Invest forecasts Bitcoin may hit $600,000 by 2030, with a potential rise to $1.5 million in her bull case scenario after Bitcoin ETFs approval.
• Bloomberg Intelligence’s Mike McGlone estimates Bitcoin will reach $100,000 by 2030, attributing the increase to rising demand and BTC scarcity.
• Robert Kiyosaki predicts Bitcoin price to touch $120,000 by the end of 2024.

Cryptopolitan’s Bitcoin (BTC) Price Prediction

At Cryptopolitan, we are bullish on Bitcoin’s future price as the historical market sentiment is extremely impressive. By the end of 2024, Bitcoin might record a maximum price of $110,000, with a minimum price of $48,000 and an average price of $65,000.

However, the future market potential for Bitcoin entirely depends on its buying demand, regulation and investor sentiment in long-term holding. 

We expect Bitcoin price to create a high of $110,000 by the end of 2024. 

Bitcoin Historical Price Sentiment

• Satoshi Nakamoto created Bitcoin in 2009, marking the first use of blockchain technology.
• Bitcoin was initially of little value, gaining significant traction and hitting over $15,000 during the 2017 boom, with further highs reached in 2019 and 2021.
• In 2021, Bitcoin peaked at $68,789.63 but dropped to $15,760 by December 2022 amid economic pressures including inflation and geopolitical conflicts.
• By April 10, 2023, Bitcoin’s price surged 83%, breaking the $30,000 resistance level.
• Throughout mid-2023, Bitcoin’s value hovered around $30,000, nearly reaching $32,000 due to positive market sentiments and potential ETF approvals.
•  Bitcoin experienced a significant price drop in mid-August 2023, falling to $25,000 and remained volatile with October prices fluctuating between $26,000 and $29,500.
• Bitcoin closed 2023 above $42,000, a 155% increase from the year’s start.
•  Early 2024 saw Bitcoin rise above $45,000 in anticipation of multiple ETF approvals, despite a brief dip below $40,000 following the ETF approval.
• Bitcoin’s price surged in February 2024, breaking its previous all-time high from 2021 on March 5th, reaching over $70,000 by March 8th, and setting a new high of $73,750.07 on March 14th.
• However, in April, the BTC price dropped below $60K.
• Later in May, the price of bitcoin surged and knocked the $70K level.
• In recent weeks of June and July, BTC price witnessed heavy fluctuations as it hovered within the range of $70K-$55K. 
• In 2024, Bitcoin casino has emerged as a modern and innovative platform for gaming enthusiasts, offering the benefits of anonymity, security, and fast transactions.

Source link