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Bitcoin Price Prediction 2023-2030: Will BTC Price Hit $30,000 Soon?

Cryptocurrency News Jan 27, 2023 15:15
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Coin Edition -

  • Bullish Bitcoin (BTC) price prediction ranges from $20,500 to $34,000.
  • Analysis suggests that the BTC price might reach above $32,000 soon.
  • The BTC bearish market price prediction for 2023 is $16,600.

Bitcoin (BTC) is the most prominent cryptocurrency and has enormous growth potential. The technical analysis used to create this forecast for the price of Bitcoin (BTC) in 2021. Below, we detail the primary considerations that led us to this conclusion on Bitcoin’s future price.

Bitcoin was first defined in an essay published in 2008 under the identity Satoshi Nakamoto. It is a decentralized digital currency. 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, “online payments can be transmitted directly from one party to another without passing via a financial institution” (this is a direct quote from the white paper outlining the original purpose of Bitcoin).

Although there have been earlier proposals for decentralized electronic currencies, Bitcoin is the first cryptocurrency to be widely used. If you are interested in the future of BTC and want to know its predicted value for 2023, 2024, 2025, and 2030, keep reading!

Bitcoin (BTC) Market Overview

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 new cryptocurrencies. These rivals try 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. Moreover, BTC is the most liquid digital asset, with over 5,000 altcoin trading pairs.

Bitcoin (BTC) Current Market Status

Bitcoin is one of the most promising virtual assets in the crypto market. In fact, during the last 12 months, BTC has had a 52-week high of $48,086.84 and a 52-week low is $15,599.05. As a result, Bitcoin has become one of the most discussed crypto assets in the crypto industry.

On CoinMarketCap, this cryptocurrency is ranked first in terms of market capitalization. As a result, the market capitalization of BTC is $441,750,221,045, with a 24-hour trading volume of $31,273,933,847. Indeed, BTC’s market standing attracts worldwide investors from all over the world.

You should now have a good understanding of the present state of the Bitcoin market. Do you believe Bitcoin will be a good investment this year? Let’s briefly examine the factors which influence Bitcoin price.

Factors Influencing Bitcoin Price

Bitcoin price has been falling since the start of 2022. Will it not follow the previous year’s bullish trend anymore? Let us now investigate the elements influencing the early and present BTC prices.

Factors Influenced the early Bitcoin Price

User adoption of the asset can influence the price of Bitcoin. The currency’s popularity can cause prices to rise, while a lack of demand for the currency might cause the value to fall. Individuals, governments, institutional investors, and multinational organizations are all adopting Bitcoin so that the price will rise to new highs.

Between 2012 and 2018, the number of Bitcoin addresses holding between 100 and 1,000 BTC steadily climbed, representing a significant share of the Bitcoin in circulation. As the mining difficulty reduced between 2012 and 2015, the price of Bitcoin fell, only to rise again in 2016. The price of Bitcoin and the difficulty of Bitcoin mining increased significantly between 2016 and 2017, considerably slowing Bitcoin’s growth.

Bitcoin reward contributes to the cryptocurrency’s shifting price. 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 significantly impacted the mining sector. The hash rate dropped after the first and second halvings but rebounded. Throughout 2018, as Bitcoin fell, many miners left the industry, and the price of Bitcoin fluctuated in the sector. There appears to be a wider acceptance of Bitcoin nowadays. The hash rate began stabilizing at the start of 2019, indicating an upbeat 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. Cryptocurrency is frequently regarded as an inflation-resistant asset. While the interest rate is low, its value storage can provide a long-term buffer against volatile fiat currency and purchasing power.

As a result, a Fed’s interest rate hike could influence the crypto and stock markets by lowering the value of fiat money. Bitcoin and other cryptocurrencies have recently 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 example, Proshares, an Exchange-Traded Funds (ETFs) provider, will launch the first short Bitcoin-linked ETF in June 2022. It is specifically developed to assist investors in profiting from cryptocurrency price drops.

Several crypto exchanges are expanding their scope to capitalize on the burgeoning Bitcoin and cryptocurrency sector. The market incentives for Bitcoin decreased during the Bitcoin halving event. More so, the price of Bitcoin has increased by almost 300% since May 2020, when the number of coins will be cut in half. The price of Bitcoin increased by 8,000% and 600%, respectively, after halving price events in 2012 and 2016. Half of the mining incentive looks 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. The Taproot upgrade, which sought to address these issues while providing a framework for the Bitcoin blockchain to be more receptive to smart contracts, NFTs, and DeFi, received mixed user reviews from users.

The Taproot upgrade will still have an investor- and HODL-specific long-term effect because the network can now support and process several smart contracts, much like Ethereum. However, the Taproot upgrade raised the price as much as $69,000 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.


  • Bitcoin enables seamless transactions within a few seconds.
  • Bitcoin’s wallet’s private key protects your bitcoins from any hacking attempts.
  • BTC offers verifiable and transparent transactions.
  • BTC transfer is one of the cheapest and fastest methods of sending funds.
  • Assets can be sent directly to a merchant without gatekeepers’ need.
  • Growing acceptance of BTC leads to the asset’s great liquidity.


  • Influences price movements of its altcoin pairs.
  • BTC is volatile.
  • Transactions are irreversible.
  • Bitcoin is one of the most used baits by scammers.
  • 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 in the crypto industry. This results from the cryptocurrency’s outstanding performance throughout the last few months. Will Bitcoin’s value surpass $50,000 shortly? Let’s take a look at the Bitcoin price analysis for 2022.

Analyst Views on BTC Price Will Reach $100,000

Many cryptocurrency specialists have differing opinions on Bitcoin’s price prediction of $100,000. According to cryptocurrency analyst Tone Vays, Bitcoin will reach $40,000 by the end of 2022. He posted a live video on Youtube describing why he believes Bitcoin (BTC) might reach $40,000 this year. Furthermore, Vays claims that BTC might return to $11,000. Using the BTC price chart, he stated that Bitcoin would most certainly explode above $40,000 following this downturn.

Another crypto analyst, Crypto Rover, tweeted on Twitter that Bitcoin will reach $200,000 in the next bull run.

Crypto analyst Lark Davis tweeted that the global forex market is melting due to the latest dollar index exploding at 114.5 on September 26, 2022. He also mentioned that although the dollar index was pumping up, there wasn’t a massive impact on Bitcoin, and Bitcoin price was moving steadily.

Bitcoin (BTC) Price Analysis 2023

As of the time of writing, the crypto market continues to show wild market swings that make most crypto bleeds. However, Bitcoin is one of the digital assets in the crypto world, recovering fast. By market capitalization, Bitcoin, the crypto king, ranks 1st on CoinMarketCap’s list of the biggest cryptocurrencies.

Will Bitcoin’s most recent improvements, additions, and modifications help the BTC price rise? Do you think Bitcoin’s recent strong performance will be enough to entice additional global investors? First, let’s focus on the charts in this article’s BTC price forecast.

Bitcoin (BTC) Price Analysis – Keltner Channel

BTC/USDT 1-Day Chart Showing Keltner Channel (Source: TradingView)

Keltner Channels are volatility-based bands placed on either side of an asset’s price to help determine a trend’s direction. The Keltner Channel indicators for BTC/USDT can use to forecast the potential price for Bitcoin. The price is on the first half of the channel, indicating that individuals are buying rather than unloading BTC. We should wait for a downturn or a better entry point to improve the reward-to-risk ratio for a better risk-free scenario.

Bitcoin (BTC) Price Analysis – Relative Strength Index

BTC/USDT 1-Day Chart Showing Relative Strength Index (Source: TradingView)

The RSI on the 1-day chart is currently at 80.17, indicating a strong uptrend. The RSI is trending negatively, below the Simple Moving Average (SMA) line. This stability in the RSI during uptrends is expected as it reflects the higher gains being made. Investors should monitor this trend closely for potential buying opportunities.

The RSI values on a downtrend chart typically remain below 70, occasionally reaching 30 or lower. These observations can assist in assessing the trend’s strength and determining potential trend reversal points.

Bitcoin (BTC) Price Analysis – Moving Average

BTC/USDT 1-Day Chart Showing 200-MA and 50-MA (Source: TradingView)

The above 1-Day BTC chart illustrates the 200-day and 50-day Moving Averages (MAs) indicators. As per the chart, BTC has breached both the 200-day and 50-day moving averages. This indicates that the market trend for BTC is bullish since the beginning of 2023.

However, the 50-day moving average is still under and hasn’t crossed over the 200-day moving average. Therefore, there is still less power left for the bears in the market. Investors should look for a few reversal patterns to take before taking their trade to provide a low-risk trade.

Bitcoin (BTC) Price Prediction 2023

BTC/USDT 1-Day Chart (Source: TradingView)

Looking at the daily chart of BTC/USDT, the BTC price was swinging from $16,514 to $25185.29 within the past few weeks after going to its lowest of the month at $16,514. Bouncing back from the support level, BTC is trying to break out its previous order block placed at the previous strong high. If the bulls are able to break out of that order block, we can expect Bitcoin to rise up to another level around $30,000-$32,000.

Meanwhile, our long-term BTC price prediction for 2023 is bullish if it cannot break the support level. We can expect BTC to reach $31,000 this year.

Bitcoin (BTC) Price Prediction – Resistance and Support Levels

BTC/USDT 1-Day Chart (Source: TradingView)

The chart above shows that the price of BTC has decreased in the past few months. Moreover, BTC has increased by 1.58% in the past 24 hours. Suppose this price decrease in 2022 is a bull taking one step behind to head for a run at full speed ahead, it might be breaking its $27048.66 resistance 1 level and increasing to $32057.

If BTC cannot break the $27048 resistance 1 level, the bears may seize control and dethrone BTC to a downtrend. In simple terms, the price of BTC might fall to the previous support level – $18,600.

Bitcoin (BTC) Price Prediction — ADX, RVI

BTC/USDT 1-Day Chart (Source: TradingView)

Now, we will analyze Bitcoin’s Average Directional Index (ADX). The ADX, in particular, helps traders identify a trend’s strength rather than its direction, and it can also assess whether a new trend or a shift in the market is occurring. Specifically, the ADX is linked to the Directional Movement Index (DMI).

Bitcoin’s ADX is seen in the chart above. The fact that Bitcoin is currently trading at 56.10 of ADX means that Bitcoin’s trading power is getting strong, and this demonstrates that Bitcoin can see a few price surges in the future.

Moreover, the Relative Volatility Index is displayed in the graph above (RVI). Specifically, rather than measuring the absolute price changes, the RVI evaluates the standard deviation of price changes over a period of time. When the RVI is above 50, the volatility moves upward. In reality, the RVI is at 65.82, which supports a possible buy signal.

Comparison of Bitcoin with Ethereum and Cardano

Bitcoin is the largest crypto by market cap and has shown a bearish trend. The below chart shows the price comparison between Bitcoin, Ethereum, and Cardano.

BTC Vs. ETH Vs. ADA Price Comparison (Source: TradingView)
The chart above shows that the price of Bitcoin has a major effect on the crypto market by influencing other cryptocurrencies, also known as altcoins. Additionally, it has been discovered that ETH and ADA price patterns are identical to those of Bitcoin. This means that as the price of BTC increases or decreases, other altcoins such as ETH, ADA, XRP, DOT, and many more follow suit.

Bitcoin (BTC) Price Prediction 2024

There will be Bitcoin halving in 2024, and hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. Since the Bitcoin trend affects the direction of trade of other cryptocurrencies, we could expect BTC to trade at a price not below $41250 by the end of 2024.

Bitcoin (BTC) Price Prediction 2025

We should expect the price of BTC to trade above its 2024 price due to the possibility of most cryptocurrencies breaking more psychological resistance levels due to the Bitcoin halving over the previous year. Hence, BTC could end 2025 by trading at around $50,250.

Bitcoin (BTC) Price Prediction 2026

Since the maximum supply of BTC is approached by 2026, the bearish market that follows a solid bullish run impacts its previous price due to the entrance of more institutional investors to its platform. With this, the cost of BTC could break the usual trend and trade at $61,450 by the end of 2026.

Bitcoin (BTC) Price Prediction 2027

Investors expect a bullish run next year, 2028, due to Bitcoin halving. Hence, the price of BTC could consolidate on the previous gains and even break more psychological resistance levels due to investors’ positive sentiment. Therefore, BTC could trade at $72650 by the end of 2027. Also, BTC is likely to break its ATH value.

Bitcoin (BTC) Price Prediction 2028

In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. It is, therefore, possible that the market could attain higher high values. Bitcoin (BTC) could hit $83,850 by the end of 2028. Also, BTC is likely to break its ATH value.

Bitcoin (BTC) Price Prediction 2029

By 2029, there could be much stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing lessons learned to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin halving, could surge the price of BTC to $97950 by the end of 2029.

Bitcoin (BTC) Price Prediction 2030

The cryptocurrency market experienced high stability due to the holding activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of Bitcoin (BTC) to trade at around $112,450 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the earlier years.

Bitcoin (BTC) Price Prediction 2040

According to our long-term price estimate, Bitcoin prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $280,675 by 2040. If the market becomes bullish, the price of Bitcoin may increase beyond our 2040 forecast.

Bitcoin (BTC) Price Prediction 2050

According to our Bitcoin forecast, the average price of Bitcoin in 2050 might be above $617,485. If more investors are drawn to Bitcoin between these years, the price of Bitcoin in 2050 could be far higher than our projection.


As Bitcoin prepares to launch into yet another bull run, the time to capitalize is now. It’s never too late to start trading Bitcoin, with the price predicted to rise to between $72,000 and as high as $112,000 per BTC.

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.

The post Bitcoin Price Prediction 2023-2030: Will BTC Price Hit $30,000 Soon? appeared first on Coin Edition.

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Bitcoin Price Prediction 2023-2030: Will BTC Price Hit $30,000 Soon?

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