Here are some key highlights from our latest analysis on Bitcoin’s price movement and future projections.
- The live price of Bitcoin is $67,378 (BTC/USD).
- Our recent BTC price forecast indicates that its value will increase by 15.99% and reach $78,665 by Aug 1, 2024.
- Our technical analysis indicators signal bullish market sentiment on Bitcoin.
- Bitcoin has had 16/30 (53%) green days and 5.77% price volatility.
Let’s dive into the detailed yearly Bitcoin price predictions for 2024-2050 based on historical price movements, technical analysis, and BTC halving cycles.
Bitcoin Price Overview (Statistics)
Cryptocurrency | Bitcoin |
Token | BTC |
Price | $67,378 |
Price Change (24h) | 4.85% |
Price Change (7d) | 5.84% |
Market Cap | $1,264,566,789,484.29 |
Trading Volume | $22,661,057,197.69 |
Circulating Supply | 19,694,756 BTC |
All-Time High | $ 73,628 (Mar 14, 2024) |
All-time Low | $ 0.05 (Jul 17, 2010) |
Volatility | 5.54% (High) |
Fear-Greed Index | 68 (Greed) |
Sentiment | Bullish |
Green Days | 16/30 (53%) |
Yearly Bitcoin Price Predictions 2024-2030
Let us look at Bitcoin price prediction for the upcoming years based on historical price movements, technical analysis, and BTC halving cycles.
Year | Minimum Price | Maximum Price |
2024 | $68,244 | $118,205 |
2025 | $68,631 | $174,929 |
2026 | $104,398 | $178,394 |
2027 | $77,804 | $127,678 |
2028 | $77,267 | $130,475 |
2029 | $108,677 | $306,038 |
2030 | $225,971 | $300,543 |
Bitcoin Price Prediction 2024
Based on technical analysis and market trends, the BTC coin price is expected to drop to a minimum price of $68,244 and rise to a maximum price of $118,205.
Bitcoin Price Prediction 2025
The Bitcoin price forecast for 2025 expects Bitcoin prices to range between a low of $68,631 and a high of $174,929. If we compare the current price to the maximum forecast price, Bitcoin can see a potential growth of 160% in 2025.
Bitcoin Price Prediction 2026
After a thorough analysis of Bitcoin prices and their fluctuations over the past years, the Bitcoin price prediction for 2026 expects Bitcoin prices to range between a low of $104,398 and a high of $178,394.
Bitcoin Price Prediction 2027
Based on the Bitcoin price analysis by crypto experts and market trends, the Bitcoin price prediction for 2027 expects a minimum price of $77,804 and a maximum price of $127,678. On average, the trading price will be $102,741.
Bitcoin Price Prediction 2028
Bitcoin forecast for 2028 suggests the minimum price of Bitcoin will be around $77,267, and the maximum price may be around $130,475. The estimated average trading price will be around $103,871.
Bitcoin Price Prediction 2029
Bitcoin is expected to surpass $200,000 this year. BTC price predictions for 2029 suggest the coin could range between $108,677 at the lower end and reach a maximum price of $306,038.
Bitcoin Price Prediction 2030
The Bitcoin price forecast for 2030 expects Bitcoin prices to range between a low of $225,971 and a high of $300,543. If we compare the current price to the maximum forecast price, Bitcoin can see a potential growth of 351.89% in 2030.
Bitcoin Price Prediction 2040
Considering Bitcoin’s Compound Annual Growth Rate (CAGR) of 19% over the past three years, we predict Bitcoin could reach a peak of $1,271,463. Compared to the current Bitcoin price, this reflects a significant potential increase of 1951.19% by 2040.
Bitcoin Price Prediction 2050
Similar to the Bitcoin price forecast of 2040, if we use Bitcoin’s Compound Annual Growth Rate (CAGR) of 19% over the past three years, Bitcoin’s price could increase to $6,107,567 by 2050. Bitcoin prediction displays that compared to its past performance, Bitcoin may have significant potential growth in the future.
Bitcoin Price Forecast for Next 30 Days
The BTC price forecast for the next 30 days, shown below, is based on the trends from the past 30 days. This includes looking at both positive and negative changes.
Date | Price | Change |
---|---|---|
Jul 27, 2024 | $68,631 | 1.00% |
Jul 28, 2024 | $73,000 | 7.53% |
Jul 29, 2024 | $76,441 | 12.66% |
Jul 30, 2024 | $77,027 | 13.54% |
Jul 31, 2024 | $77,767 | 14.65% |
Aug 1, 2024 | $78,665 | 15.99% |
Aug 2, 2024 | $79,412 | 17.10% |
Aug 3, 2024 | $80,104 | 18.14% |
Aug 4, 2024 | $80,771 | 19.13% |
Aug 5, 2024 | $81,261 | 19.86% |
Aug 6, 2024 | $81,151 | 19.70% |
Aug 7, 2024 | $80,316 | 18.45% |
Aug 8, 2024 | $78,672 | 16.00% |
Aug 9, 2024 | $77,741 | 14.61% |
Aug 10, 2024 | $77,088 | 13.63% |
Aug 11, 2024 | $77,453 | 14.18% |
Aug 12, 2024 | $78,671 | 16.00% |
Aug 13, 2024 | $82,958 | 22.40% |
Aug 14, 2024 | $86,019 | 26.97% |
Aug 15, 2024 | $87,613 | 29.35% |
Aug 16, 2024 | $88,215 | 30.25% |
Aug 17, 2024 | $88,394 | 30.52% |
Aug 18, 2024 | $88,027 | 29.97% |
Aug 19, 2024 | $87,682 | 29.45% |
Aug 20, 2024 | $87,559 | 29.27% |
Aug 21, 2024 | $87,672 | 29.44% |
Aug 22, 2024 | $88,087 | 30.06% |
Aug 23, 2024 | $88,268 | 30.33% |
Aug 24, 2024 | $88,341 | 30.44% |
Aug 25, 2024 | $88,799 | 31.12% |
Bitcoin Technical Analysis
At the time of writing, BTC is trading at $67,378 with a market cap of $1,264,566,789,484.29 and a circulating supply of 19,694,756 BTC. The Bitcoin price has increased by approximately 4.85% in the last 24 hours. Currently, the short-term and medium-term moving averages suggest a neutral market sentiment, contrasting with the bullish long-term moving averages.
Bitcoin’s price has shown significant volatility since January 2024. In early January, Bitcoin traded around $42,000. By late January, it surged to nearly $49,000, marking a 71.8% increase from the $28,500 resistance level. However, Bitcoin failed to close above the $48,000 resistance and corrected by 21%, dropping to around $38,500. Despite this correction, Bitcoin maintained support at the $40,000 level and did not close below this crucial support weekly. In March 2024, Bitcoin reached its highest recorded price, which was only 6% higher than its April 2024 peak.
Bitcoin Price History
Bitcoin was almost zero dollars when it was introduced to the market. After a year, in July 2010, the price hiked to $0.09. BTC kept on gaining popularity as a new transaction method. As a result, Bitcoin reached $29 in 2011. 2013 marked a landmark in Bitcoin price levels. People started investing and trading in Bitcoin. Hence the coin price surged to $230. For the next three years, Bitcoin hung between $150 and $315, excluding a spike of $1237 as per the historical price data.
Bitcoin swelled from $900 in 2016 and extended to $2000 in 2017. In Dec 2017, BTC broke all the Bitcoin predictions and skyrocketed to $19345. For the following two years, Bitcoin faced market rejections and traded sideways due to a sell-off.
It was in 2019 when Bitcoin price prediction expectations met reality. BTC crossed $10,000 again, but in the second quarter, BTC again dropped to $6800. The following year was remarkable. The cryptocurrency market activated unhurriedly, but Bitcoin surpassed $29000. Early investors enjoyed significant profits.
After the first quarter of 2020, nothing could stop the Bitcoin rally. It formed higher highs on the chart and kicked $40,000 in 2021. Crypto exchanges witnessed increased trade volume, and Bitcoin rose to $50,000 in the second quarter. Crypto markets have witnessed tremendous attention and interest among investors.
The same has been reflected in Bitcoin prices. Bitcoin projections broke the range, and BTC hit an all-time high of $68,789 in November 2021. In 2022, Bitcoin continued a downward trend and slipped to $34,000, almost half of its highest price levels.
The first half of 2023 saw significant growth, with Bitcoin price nearly doubling from January to July, peaking at $ 29,226 amidst a wave of spot Bitcoin ETF applications by major asset managers. By the end of 2023, Bitcoin closed at $42,224. In the current year, 2024, Bitcoin surged past $70,000 for the first time on March 8th, reaching multiple new all-time highs and culminating in its peak at $73,628 on March 14th.
Is Now the Time to Buy, Sell, or Hold BTC?
As of now, the short-term and medium-term market sentiments are bearish with the bullish long-term moving averages. While Bitcoin may experience some short-term volatility, the overall technical analysis points to a bullish outlook for BTC in the coming future.
Holding BTC appears to be a reasonable strategy at this moment, with the potential for further gains if prices can break above key resistance levels. However, investors should closely monitor the $60,330 support level and be prepared for potential pullbacks.
Bitcoin Price Predictions by Experts and Analysts
Bitcoin halving has effectively reduced the number of tokens in supply. Thereby fueling a surge in token value. The future is more bullish than it should even if Bitcoin price prediction shows fluctuations. The speculated trend is backed by several crypto experts and analysts.
Max Keiser:
Max has called for a value of $100,000 in short term and $220,000 in long-term. The latter spans over a 4-year period while the former could be in the next 6-12 months. Keiser further expects that price recovery is on its way and a new all-time high value will break the stage as the price graph moves forward.
Robert Kiyosaki
Robert, in a post published on X, has written that he was totally okay with the price fall – adding that he even bought BTC for $6,000 and $9,000, further stating that he has plans to buy some more of it. This only goes on to demonstrate that Kiyosaki is bullish about the Bitcoin future price and is willing to buy the ongoing dip before it rebounds.
Plan B
Plan B has backed a high value of $288,000 with no tentative timeline in sight. Plan B has used the stock-flow model and has analyzed scarcity of the digital asset. It can also be understood that Plan B is keeping an eye on how the market reacts when Bitcoin Halving happens in the future. The one in 2024 softerend the decline if not massively triggered an upswing.
Peter Brandt
The famous commodity trader has earlier speculated that Bitcoin will drop by over 80%. Peter is not bullish and the market is a witness to the fact that the token did fall to $3,200. Brandt’s bearish stand sends chills across the market, especially since he has said that corrections could take longer to settle than expected. Peter has also criticized Bitcoin proponents for hyping the token without considering its price.
Tim Draper
Tim Draper, reportedly, has invested in Bitcoin heavily. It is safe to assume that Tim is supporting BTC. This is evident from his BTC predictions which state a rise to $250,000 in the coming days. His Bitcoin forecast dates back to the time when the value was about to rollout numbers for 2023. The numbers could not be banked. Yet, Draper is optimistic about heavy surges.
What is Bitcoin?
Bitcoin ($BTC) does not need any introduction. If anything, it is imperative to clarify that BTC is a cryptocurrency and not a synonym for it. Naive enthusiasts continue to use both terms in place of each other. Bitcoin works on Proof of Work and is secured via the SHA-256 algorithm. It has often come under scrutiny for damaging the environment via mining activities. Nevertheless, it continues to move forward as time goes on.
Bitcoin is now the most commonly known cryptocurrency across the world. What it lacks is adoption and regulation from governmental authorities. It has been able to facilitate seamless cross-border transactions at the most economical cost. However, it has also been linked with groups that are known for indulging in money laundering and other similar activities.
It remains the Gold standard for the global crypto market with a dominance of over 50% in terms of market cap. Bitcoin has the highest value on the list, followed by Ethereum with a gap of more than $45,000 at the press time. Bitcoin, a peer-to-peer open-source and decentralized protocol, has its native token listed on multiple exchange platforms. They allow users to buy, sell, hold, and trade the flagship cryptocurrency.
Who Created Bitcoin?
Digging back to history, in 1998, a concept called cryptocurrency was discussed by Wei Dai on his CypherPunks mailing list. It was about creating a new form of transaction currency secured with cryptography. Way back in 2008, Satoshi Nakamoto published the Bitcoin Whitepaper. Satoshi Nakamoto is a pseudonym, and his original identity has not been revealed yet. Bitcoin whitepaper described the decentralized transaction concept, public ledger, and cryptographic algorithm. The whole idea later emerged as blockchain technology.
At the beginning of 2009, Nakamoto mined the first Bitcoin block. Indeed, history is marked by the invention of cryptocurrency, and it was a $0.00 price at the beginning. It was easy to mine Bitcoin blocks with moderate power devices and minimum software requirements during the introduction stage. The initial real-world Bitcoin trade was marked in 2010 by software programmer Laszlo Hanyecz; he purchased two pizzas for 10,000 Bitcoin. The memory of the same was celebrated in 2021 as ‘Bitcoin Pizza Day.
Bitcoin price was somewhere around $0.008 to $0.08 at that time. What astonishment a cryptocurrency can give to investors beyond this growth. Satoshi Nakamoto was the original inventor, but later, Gavin Andresen took over the control of the Bitcoin code repository. Consequently, he became the lead developer of the Bitcoin Foundation.
It is essential to mention that nobody owns control of the Bitcoin protocol. Developers are just improving the protocol, and users can freely use the versions. Bitcoin grew fast and got a comprehensive endorsement. Though the anonymity of the inventor raised enormous concern about the open-source Bitcoin, the team has resolved the issue by openly publishing the protocol and software.
How Does Bitcoin Work?
Technically, Bitcoin shares a public ledger. Every single transaction from the start has been fed into the public register. Users can verify the validity of each transaction. Notably, transactions are protected by a digital signature corresponding to the sending address. Each transaction has to be validated, and the validation process is called Bitcoin mining. Miner adds blocks to the chain. Anyone with adequate hardware and software facilities can solve a complex mathematical solution to mine a block. Upon successful mining, the miner will get a reward in BTC.
It is challenging to solve the complex mathematical algorithm to verify the transactions. Bitcoin is highly valued, and it is crucial to verify each transaction accurately. Hence it requires substantial computational power and effort. Bitcoin mining is the most difficult process among the overall cryptocurrency mining mechanism.
As mentioned earlier, Bitcoin transactions require a massive amount of energy consumption, and data shows that a single Bitcoin transaction can consume approximately 1752 KW hours of electricity. Moreover, the average transaction confirmation time varies from 10 to 15 minutes. Inflated transaction fees, lengthy transaction confirmation time, low throughput, scalability, and high energy are the most critical issues associated with Bitcoin transactions.
BTC has also gone through several upgrades and additions like all other cryptocurrencies. The two most important are the Bitcoin Lightning Network and the Taproot upgrade. Both aim to increase transaction speed and efficiency in the network. The Taproot upgrade clusters numerous signatures and transactions concurrently, making it easy and faster to verify transactions. In addition to that, the Taproot upgrade speeds transactions with single and multiple signatures jointly. It makes it complex to identify transaction inputs on Bitcoin’s blockchain.
Bitcoin lightning network is a Layer-2 solution connected to the Bitcoin blockchain. It is an off-chain decentralized system of smart contracts to make transactions more effortless. These are mainly used to conduct micropayments in Bitcoin fast and cheaply. Many exchanges and enterprises worldwide obtain the Bitcoin lightning networks for commerce.
Though Bitcoin is the first name in blockchain technology, it still lacks scalability and throughput. Moreover, it is not suitable for micropayments or low amount transactions due to its high transaction fees. However, recent Bitcoin developments are trying to make it adaptable for commerce.
Factors Influencing Bitcoin Price
Like other financial market instruments, BTC is also affected by the transformations occurring in the economy. Additionally, the crypto market is more volatile and reacts to any minute economic disruption. Apart from financial and economic factors, Bitcoin price is mainly affected by the following factors:
Scarcity
Scarcity in terms of Bitcoin refers to the number of coins in circulation, how many coins are there, and how many will be added in the future. Based on data, around 18 million to 19 million coins are in circulation. The protocol says that the minting of new coins will be stopped when it reaches 21 million. Fixed supply can increase demand. Additionally, when the reserve of BTC reduces, the need for coins will increase. Increased demand can raise the Bitcoin price.
Cryptocurrency Regulation
Regulation discussions are arising from different parts of the world. The crypto industry went through a significant sell-off when EI-Salvador legalized Bitcoin, and the regulation talks and its reflex can create downward price movement in Bitcoin.
Mainstream Adoption of Cryptocurrency
When the mainstream adoption of Bitcoin boosts, the price will also move upward. The increase of institutional investors and standard transaction rates can seriously impact price levels.
Will Gold Beat BTC This Year?
It has been almost 13 years since Bitcoin emerged as a leading asset class. As we know, Bitcoin is not underpinned by any asset value. Besides, the BTC price is solely dependent on the demand and supply of the coin in the market. The moment BTC grabbed market attention, people started comparing it with gold. From an investment perspective, Bitcoin captured the market share of gold. Gold security gives an average of 10% to 12% return, whereas Bitcoin performs way better than gold.
The latest report from Goldman Sachs shows that Bitcoin will cross $1,00,000 in the coming year. The same is expected by our Bitcoin forecast also. In the same research report, analysts pointed out that Bitcoin has become a new gold in the market.
Analysts are bullish on Bitcoin and suggest people should invest in the coin. Gold is not expected to beat Bitcoin this year. Moreover, as per the analysts, above its all-time high price, Bitcoin is expected to capture a significant market share of the gold.
Conclusion
Though Bitcoin and other cryptos have delivered significant returns to investors in the past, there is no guarantee to continue the same in the future. Improving scalability can give a good future growth opportunity to BTC since the scalability of Bitcoin remains a significant hindrance to public adoption. It is crucial to keep in mind.
The expanding crypto token network threatens Bitcoin because new tokens emerge to solve Bitcoin’s issues. However, Bitcoin has a strong foundation and community. So, Bitcoin fanatics expect it to bounce back from its current position and tackle the all-time high of 2024.
Bitcoin Price Prediction FAQs
What is Bitcoin price today?
The live Bitcoin price today, at the time of writing, is trading around $67,378. The BTC price has increased by 4.85% in the last 24 hours.
Is Bitcoin the best crypto to invest in?
Bitcoin is considered the safest investment token among crypto enthusiasts, and it always falls on investment advisors’ top cryptocurrency list. Volatility remains the main obstacle. However, investors are aware that volatility is a part of the crypto market. Keeping all other facts about the digital asset in mind, Bitcoin is one of the best coins to invest in.
How to use Bitcoin?
Bitcoin can be used for many purposes, such as payments, charity, and investment. Some non-profit organizations accept Bitcoin, and many retailers have started to do the same. Many retailers even provide crypto debit cards to users.
What will Bitcoin be worth in 2025?
Bitcoin is expected to be worth around at least $68,631 and a maximum of $174,929 in 2025.
How much will Bitcoin be worth in 2050?
Bitcoin is projected to reach the value of $6,107,567 in 2050.