Bitcoin has taken over the financial and investment worlds over the last few years. However, it has seen a downtrend in 2021-2022. Many users are worried about the future of Bitcoin and whether it is time to buy more or sell. What will be the price of Bitcoin over the next few years? Read more to know.
How Much Is A Bitcoin Worth?
At the time of writing, Bitcoin is trading at $27,402. This is much lower than its all-time high of $68,789 that it hit on 10th November 2021. However, it still remains a popular choice with investors. So what affects the price of a bitcoin?
Being the market leader, Bitcoin sets the trend for the rest of the crypto world. This trend can be based on news related to Bitcoin, blockchain upgrades, crypto adoption rates or even on general economic conditions.
For example, news of large crypto lending firms declaring bankruptcy is worrying for the market and sends Bitcoin on a downward trend. On the other hand, news of a country adopting Bitcoin as legal tender or a major company accepting payments in crypto can send its prices soaring.
Read more: What is Bitcoin Mining?
Let’s deep dive into the technical analysis of Bitcoin and see how the price might change in the coming years
Bitcoin (BTC) Price and Technical Analysis
|Current Price (As on March 23rd,2023 at the time of writing)||$27,402|
|50 Day SMA||$23,682|
|100 Day SMA||$21380|
|200 Day SMA||$20213|
|24-hour volume||$31 billion|
|14-day Relative Strength Index||72.20|
|Fear and Greed Index||66 (Greed)|
|Circulating Supply||92% of total capped supply|
|Technical Indicator(As per coinmarketcap)||Buy|
What did 2023 Look Like for Bitcoin?
2023 has been a good year so far for Bitcoin and several other major cryptos. Since 1st Jan 2023, Bitcoin has risen by almost 65%. Bitcoin began trading at roughly $16,500 on Jan 1st and is currently trading at $27,402 at the time of writing.
The collapse of a few major banks in the US seems to be fueling Bitcoin’s price rise. The collapse of centralised banks has bought back the focus on decentralised assets where the user has more control over his/her assets. Another factor which could have contributed to Bitcoin’s price rise is the interest rate outlook. Increasing interest rates have crumbled several banks due to a lack of affordable credit. We might see interest rates being dialled down in the second half of 2023 to revitalise the US economy. Since almost all nations have a dependency on the US economy, this might improve the flow of credit all over the world encouraging investors to buy assets such as cryptos.
Bitcoin Price Prediction 2023
|Current Price (As on March 23rd)||$27,402|
|Predicted Price ( December 2023)||$29,000-$30,000|
Experts believe that Bitcoin will begin to gain ground in 2023. Bitcoin has witnessed substantial gains since Jan 2023. It is expected that economic conditions will also improve in the second half of the year, thus prompting more investment into the crypto market.
Analysts predict Bitcoin can reach anywhere close to $30,000 within 2023. With current price around $27,402 this seems possible given that macroeconomic conditions do not drag down the crypto market.
Bitcoin Price Prediction 2024
|Year||Optimistic Low( End of 2025)||Optimistic High (End of 2025)|
The possibility of Bitcoin going through a bullish run is high as per analysts. As experts believe that Bitcoin will gain ground in 2023, this trend is expected to follow in 2024 provided that major macroeconomic factors remain constant.
Each time Bitcoin reaches its key support, it is known to rebound back. The prices are expected to surge forward from its present range to $40,000 by the end of 2024.
Read more: What Is Bitcoin Halving
Bitcoin Price Prediction 2025
|Year||Optimistic Low (End of 2025)||Optimistic High (End of 2025)|
After looking at previous price cycles, realistic Bitcoin predictions tell that it can hit a new peak by 2025, crossing $70,000 before settling down to $65,000. Some highly optimistic analysts also predict that a massive bull market after economic recovery in 2023 and 2024 can push Bitcoin beyond the $70,000 point by 2025.
Bitcoin Price Prediction at a Glance
Is Bitcoin A Good Investment?
Bitcoin has been the market leader for crypto since its creation in 2009. It has continued to dominate trading and investor attention even as new projects emerge. While economic and market sentiment factors have pushed it down this year, it remains to be the most popular choice.
Read more: Crypto Trading Strategies
Bitcoin’s future price predictions indicate that the coin can bring high returns under suitable macroeconomic factors, although it may take some time for these gains to materialise. However, analysts and experts remain bullish on its trajectory over the next two to three years, believing it can set record highs by 2025.
Should I Invest In Bitcoin?
This question depends on your risk appetite. Bitcoins price prediction remains positive, but the crypto market is inherently volatile. You may see your invested value reduce before it increases.
Another consideration is your investment horizon. Since most analysts believe recovery may take 6 months to a year, your portfolio must be committed for long enough to experience the gains.
The crypto market’s volatility does not change the fact that Bitcoin is a fundamentally strong asset with tremendous potential. The trust in Bitcoin remains strong even today. In fact, close to 60% of the Bitcoin held by investors has not moved since the beginning of 2022 even though the price has corrected from its all-time high. This shows that Bitcoin is here to stay and transform the way we understand investments and money.
You can now buy Bitcoin on ZebPay Australia. Keep yourself up to date with the latest crypto news on ZebPay blogs.
FAQs On Bitcoin Price Prediction
What will Bitcoin be worth in 2023?
Bitcoin is believed to gain ground in 2023 and range anywhere between $29,000 and $30,000 by the end of 2023. This is subject to favourable global macroeconomic conditions and increasing participation in the crypto markets.
What will Bitcoin be worth in 2024?
The possibility of Bitcoin going through a bullish run is high as per analysts. The price is expected to move forward to approximately $40,000 in 2024.
What will Bitcoin be worth in 2025?
After looking at previous price cycles, realistic Bitcoin predictions tell that it can hit a new peak by 2025, crossing $70,000 before settling down to $65,000
How is Bitcoin price prediction done?
Bitcoin price prediction is done by careful analysis of technical factors, fundamental factors and optimistic analysis of future global macroeconomic factors.