Bitcoin Price Prediction Today, 2023-2030

Bitcoin Price Prediction: This article is about the BTC Prediction for today, and for 2023-2030

Bitcoin Price USD Prediction: Bitcoin is well placed to reach $35,000. Read on for More Information

Bitcoin Price Performance

Article Coverage: Performance Summary, Price Prediction this week, Macro Summary, Short Term analysis including technical analysis, Latest Bitcoin Video, Is Bitcoin a Good Investment, Bitcoin Price Prediction 2023-2030, Bitcoin Rosks, FAQs

Bitcoin Price Performance in the Last 12 Months

• Last 5 days: +7.4%, Outperformer*
• Last 30 days: +48.1%, Outperformer
• Last 6 Months: +58.1%, Underperformer
• Last 12 Months: -23.8%, Underperformer

Vs LTC, Leading Payments Blockchain

Bitcoin Price Prediction this Week: For the next 7 days Bitcoin will likely trade between $27,100 and $38,500.

Latest Macro Data

• Dollar Index DXY Trend – DXY has fallen over the last two days [Positive for BTC]
• Crude Oil Price Trend – Crude Prices are steady for the 4th day in a row [Neutral for BTC]
• Last CPI Read – Trending Lower and is now at 6%. It is lower than October 2021 which triggered the Crypto crash from the peak [Positive for Bitcoin]
• Personal Consumption Expenditures Price Index – Dropped a little [Positive for BTC]
• Macro Summary: Bullish for BTC

Click here to skip the section on short-term analysis, Continue if you wish to read about short-term price predictions

Bitcoin Price Prediction (Short-Term Analysis)

Bitcoin Price Technical Analysis, April 11th

Recently, a state in the United States, Arkansas, passed a bill seeking to regulate Bitcoin mining activity in the state’s House of Representatives and Senate. The bill will now move to the governor’s office for approval. The bill intends to regulate the Bitcoin mining industry in the American state, creating guidelines for miners and protecting them from discriminatory regulations and taxes. This is one of the positive steps toward the protection of the crypto market and a first step towards regulating cryptos.

This week will be one of the most important weeks for both the stock and the crypto market. Some of the upcoming important events this week are:

• US Consumer Price Index (CPI) data will be released on Wednesday. In March, the expectations are for CPI YoY at 5.2% and 0.3% (MoM). The previous month’s CPI data was 6.0% on a year-over-year (YoY) basis and 0.4% month-over-month (MoM). Missing the expectation will lead to a price pullback as the US Fed will have a reason to further raise the interest rate.
• On Wednesday, the FOMC minutes will be released which will reveal more details on the Fed’s projections and considerations for the latest interest rate decision.
• On the next day, that is on Thursday, April 13, both the US Producer Price Index (PPI) and initial jobless claims will be released.

The market will be under a lot of pressure for the next few days. Bitcoin has broken above $30,000 but the next 3 days will be crucial. Bitcoin holding above $30,000 for the next 3 days will attract more buyers and could help in pushing the Bitcoin price above $35,000.

Analyzing Bitcoin price using the Technical Indicators

Bollinger Band and MACD Indicator

Bitcoin price is above $30,000 and on the 4-hour timeframe Bollinger Band chart Bitcoin is bullish. On the Bollinger band, which consists of the 20-day Simple Moving Average (SMA), the Upper Bollinger Band (UBB), and the Lower Bollinger Band (LBB), here is the information for Bitcoin at the time of writing:

• The UBB is at $30,351.5
• The LBB is at $26,953.3
• The 20-day SMA is at $28,652.8
• The current Bitcoin price is $30,148.4

Interpretation

• Bitcoin price is currently trading above the 20-day SMA, indicating a bullish trend. However, the price is also trading close to the UBB, suggesting that it is overbought and may be due for a pullback.
• Bitcoin price may encounter resistance at the UBB, which is around $30,351.
• The distance between the UBB and LBB is narrow which suggests that Bitcoin price is currently experiencing lower volatility compared to previous periods.
• Overall a potential breakout is on the card.

In conclusion, based on the Bollinger Bands tool, Bitcoin price is currently overbought, and it may encounter resistance at the UBB. However, the bullish trend is still intact as the price is trading above the 20-day SMA.

On the MACD chart, the MACD line is at 522.8 and the signal line is at 304.8. Both the MACD line and the signal line is on the uptrend but the MACD line is above the signal line. This means Bitcoin is a buy.

50-day MA and 200-day MA and RSI

The 50-day SMA and 200-day SMA are commonly used to analyze the short-term and long-term trends of an asset, respectively. In the case of Bitcoin, we have the following information:

• The 50-day SMA is at $28,319
• The 200-day SMA is at $26,733
• The current Bitcoin price is $30,148.4

Based on this information, we can make the following observations:

• Bitcoin price is currently trading above both the 50-day and 200-day SMAs, indicating a bullish trend in both the short-term and long-term.
• The 50-day SMA can act as a support level in the short term, while the 200-day SMA can act as a support level in the long term.
• The distance between the two MAs has now increased which means the overall market trend for Bitcoin is now stronger.

For Bitcoin, the 50-day MA is the immediate support while the resistance for Bitcoin is around $32,060.

On the Relative Strength Index chart, Bitcoin is overbought. However, considering the current market condition, consolidation is unlikely and the Bitcoin price is expected to rise higher.

Bitcoin Price Prediction Today

Overall Bitcoin is technically bullish. Crowdwisdom360’s data also suggests that the current momentum is bullish.

Overall OutlookBullish1. Market’s WisdomPartially Bullish1a. Market DataBullish1b. Technical RecommendationSell2. Crowd’s WisdomBullish2a. Social Media BuzzHigher2b. Social Media SentimentHigher

Bitcoin Price USD Prediction

Bitcoin price has been highly volatile since its existence. In 2017 Bitcoin for the first time touched $20,000 and in 2021 Bitcoin price was above $65,000. Bitcoin is now trading below $30,000 once again.

Multiple analysts have put forward their Bitcoin Price USD Prediction for the next 12 months. Here are a few Bitcoin Price Target for the next 12 months:

• Bitcoin News: Price Prediction for the next 12 months: $142514
• ARJ Trading: BTC Price USD Prediction for the next 12 months: $137000
• Gate.io: BTC Prediction for the next 12 Months: $30000

Bitcoin price has been highly affected by macro factors, therefore, for Bitcoin to rise higher the macros should be in favor of it.

Latest Bitcoin BTC Price News Today

• Traders and analysts, including Peter Brandt and Scott Redler, predict an imminent breakout for Bitcoin. Analyst Holger Zschaepitz highlighted the dilemma investors face in choosing between gold and Bitcoin, as the yellow metal’s price dropped below $2,000 and Bitcoin reached a new year-to-date high. Technical analyst John Bollinger also suggested on Twitter that Bitcoin is approaching a squeeze, indicating a significant price movement is likely to occur soon.
• Larry Lepard, the founder and managing partner at Equity Management Associates, predicts that the US dollar is headed for total collapse within ten years. Lepard believes that Bitcoin’s limited supply of 21 million coins will play a crucial role in its long-term price rise to $10 million per BTC, as more people come to realize that it’s a sound form of money.

Bitcoin Price Prediction (Long-Term Analysis)

Bitcoin Price Prediction 2023: Is Bitcoin a Good Investment?

Bitcoin is a blockchain-based cryptocurrency designed to act as both a currency and also a store of value. It was released in 2009 by an anonymous developer, Satoshi Nakamoto.

• Bitcoin was initially released as a peer-to-peer payment method and does not have any central authority.
• It uses the concept of proof of work to reward its members. The lifespan of Bitcoin (BTC) has been the longest of any cryptocurrency.
• The Bitcoin ledger is public and any person can store it on their computer. Anyone can create a Bitcoin token and can be transferred to any of the wallets however,  the owners of Bitcoin addresses cannot be identified, but any Bitcoin transaction made can be accessed by anyone, anywhere.
• No approval is required for the completion of a Bitcoin transaction. It is done by the network itself without the interference of any third-party system.
• It is a limited resource of 21 Million Coins of which 19.1 Million are in supply.
• Since its creation, Bitcoin has held the top rank in terms of market capitalization. 

Bitcoin Use Cases

There are 2 major use cases for Bitcoin at the moment. This is different from use cases for Blockchain which is much more widespread.

• Store of Value: In Layman’s language, Bitcoin is like Gold hidden inside a computer network instead of a mine in Africa. The creator(s) deliberately created a limited number of them and created a whole range of difficult tasks to get them. Just like in real gold mining, Bitcoin mining becomes difficult if more people mine at the same time or as the number of BTCs keeps reducing. That said, It cannot be used as ornaments, one of the big factors that drive Gold value. To solve this problem, the creators designed it in the form of a currency that is authenticated via a blockchain.
• Payments: Over the last few years, BTC has increasingly been used as an alternative to the US Dollar or other National Currencies. It is now accepted on payment by many companies around the world. While BTC enjoys the absence of central control and therefore any form of voluntary devaluation, it suffers from more volatility.

What are the Latest Payment Statistics?

According to Coingate

• Nearly a Million Crypto payments were made in 2022. This is related to Coingate related Merchants only and not the entire market
• These payments have grown by 63% over 2021
• Bitcoin accounted for 48% of the payments, USDT was second with 15%, and ETH (11%) vs marginally ahead of LTC (10%)
• Lightning Network which facilitates BTC payments grew by 97%

According to Bitpay

• Nearly half a million payment transactions were completed in the last 6 months
• VPN Hosting and Internet make up for 33% of Crypto Payments (Bitpay data only)
• 29% are toward Gift cards
• 24% are towards Computer games
• 42% of the payments are made using Bitcoin, 26% through LTC, Ethereum is at 11%, Doge is at 10% (Bitpay data only)

Over 7941 Merchants accept Bitcoin

So there is firm evidence that Bitcoin and Crypto payments are rising at a massive pace and are likely to do so sans aggressive regulation.

Why is Bitcoin not used in DeFi and NFTs?

Bitcoin is a major player in payments but is not present in DeFi and NFTs. The primary reason is the transaction speed. Because of the lower transaction speeds, other blockchains like Solana, Polygon, etc are better for DeFi than Bitcoin.

The same logic applies to NFTs as well. High Transaction costs, low processing times, and the weaker smart contract abilities of Bitcoin do not make it an ideal blockchain for NFTs. The recent launch of Ordinals NFT is attempting to solve this problem.

Is Bitcoin better than Gold?

Bitcoin is better than Gold for the following reasons

1. It is more durable
2. It is more safely portable
3. It is quite liquid
4. It is Divisible

Gold is better than Bitcoin for the following reasons

1. It has a long history of value
2. Gold has a wide range of real-life uses and fewer alternatives – Jewellery, Manufacturing
3. Gold is ‘relatively’ less impacted by Federal Reserve policies

Bitcoin Price Prediction: Price Performance History

Bitcoin has been a highly volatile cryptocurrency since its launch. After being launched at $0.0008, it piqued the interest of early adopters but things changed after Global liquidity rose in 2016 and 2017, more speculators entered the market and pushed the price higher to $19.8k. However, as the Federal Reserve tightened its balance sheet, Bitcoin price crashed and fell to a 2018 bottom of $3k by December of that year. However, prices gradually rose first because of the Federal Reserve easing on its plans to reduce the size of its balance sheet and pumped after the COVID-induced interest rate cuts in 2020 reaching an all-time high of $69k in November 2021.

After inflation breached 6% in October 2021 and Russia invaded Ukraine in February 2022, prices crashed. This was further compounded by the crash of Luna and FTX. Bitcoin fell to nearly $15k in November 2022 before recovering by 30% by this week.

Bitcoin’s Return on Investment over the Last 12 Years

Overall, Bitcoin has delivered positive returns for most of the last 10 years.

• Bitcoin has delivered positive returns in 9 out of 12 years
• 2018 was the most difficult year which also coincides with the year the Federal Reserve reduced the size of its balance sheet. During that year, Bitcoin closed 74% lower than the previous year. It took Bitcoin 3 years to recover.
• Unlike Alts or even Ethereum, Bitcoin has been there for a fairly long time and with a record of proven performance.

Gain Years: 2011,2012,2013,2015,2016,2017,2019,2020,2021

Loss Years: 2014,2018,2022

Bitcoin vs Ethereum, Performance Comparison

• Last 3 Months:+66.4%, Outperformer*
• Last 1 Year: BTC (-)35.0%, Outperformer
• Last 5 Years: BTC +299.8%, Underperformer

*Vs Ethereum

Some people compare Bitcoin to the Tulip Mania, while others relate it to the Dot Com Bust. However, both the Tulip Mania and the Dot Com bubble lasted around three years. Bitcoin has been repeatedly tested in this contemporary era of computers and boom and bust cycles over the previous 12-15 years. So, the comparison is false, and Bitcoin will rebound.

Also Read

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Ravencoin Price Prediction

Gala Price Prediction

Bitcoin Price Prediction 2023: How many BTC Holders are in Profit?

Holders in Profit: 70%
Holders in Loss: 25%

Bitcoin Price Prediction 2023, 2025 and 2030 (Aggregated)

Coin Specific Issues

• Bitcoin continues to struggle in acceptance with numerous credible experts calling it a fraud/ Ponzi scheme
• While Bitcoin acceptance for payments and money transfers has risen, it is still quite paltry given the large regulatory hassles and risks

Macro Issues

• The Ukraine crisis continues
• Global liquidity continues to fall
• A Series of scandals in 2022 beginning from Luna and continuing with FTX has further hurt the overall crypto market

Forecasting Issues

• Forecasting is rarely accurate because of too many influencing variables which cannot be predicted given human intervention
• Forecasting is good at picking the direction but not the magnitude

Still, here is a broad outline of how things playout

• 2023-2024: BTC Bottom plus some recovery
• 2025-2027: Full BTC recovery plus some gains on the back of wider usage of Blockchains
• 2028-2031: Cyclical slowdown plus, Widespread blockchain usage, a further rise in Bitcoin price

This does not take into account wars or company-specific crises which are likely to occur but the timing of which is difficult to predict. Bitcoin Price Prediction 2023 is $42,278

Bitcoin Price Prediction 2025

The supply of Bitcoins being mined will fall by half in the next 14 months. With reduced supply, the volatility is likely to diminish. Bitcoin momentum is likely to sustain in 2025 as economies recover. However, regulations are likely to increase as well. Bitcoin Price Prediction 2025 is $75,721

Bitcoin Price Prediction 2030

However, we expect a substantial bump between 2025 and 2030 when many middle-income countries are likely to invest substantial pools in the Bitcoin economy. Bitcoin Price Prediction 2030 is $318,602

Bitcoin Price Prediction 2040 using 15% and 25% ROI Method

• If the BTC price increases by 15% per annum – $237,138
• If BTC price increases by 25% per annum – $1,063,705

BTC Price USD Prediction: Frequently Asked Questions

How high will Bitcoin reach?

At the moment, aggregated forecasts predict Bitcoin will rise above $500k by 2030. Many experts believe Bitcoin could go as high as $1 Million over the next few years. Given the limited number of coins, these forecasts are not improbable. A good indicator of the possibility of a high Bitcoin price is the adoption of Blockchain. Once that becomes mainstream, $1 Million is not an impossibility.

Will Bitcoin Reach $1 Million?

Without ruling out the possibility of $1 million, we believe it is too early to make such a forecast. Bitcoin is likely to reach $1 million if some fundamental aspects are in place – Largescale adoption of Blockchain, Bitcoin maintaining its lead over nimble competitors like Ethereum, and continued growth in the Global economy for people to invest in Bitcoin. At the moment, we don’t have full clarity on the direction of these factors over the next 8 years.

Will Bitcoin crash again?

Past data analysis suggests that Bitcoin could crash again this year but it is impossible to provide a firm timing at the moment. The reason is that the crashes are related to a sequence of events and we have no data on when those events are likely to occur (for example, a big crash in the European economy, a Sudden surge in Liquidity leading to Bitcoin becoming overpriced)

What factors affect the Future price of Bitcoin?

• Liquidity
• Bitcoin Adoption
• Inclusion in mainstream ETFs
• Supply of BTC from Miners (Lower)
• Cost of producing a Bitcoin
• BTC Domination (Higher)
• Cryptocurrency related news

Crypto news from around the world has affected the price of Bitcoin widely. Any good news about cryptos like their adoption, or increased interest of the investors has led to a surge in the price of Bitcoin. At the same time any news regarding the ban of crypto in any country, and regulation against cryptocurrencies have led to a Bitcoin price crash.

• Geopolitical events

Non-crypto news has also played a very important role in the price movement of Bitcoin. In February 2022, Russia attacked Ukraine, this event turned out to be a Waterloo for Cryptocurrencies. Along with it recently US Fed hiked the interest rate, and this hike in interest rate led to the crash of the crypto market. Bitcoin price tumbled after the rate hike.

Bitcoin Price Forecast News

• As per the latest updates, the wallet of Satoshi is doing 20,000 LN payments per day.
• Moreover, they are on pace for 600K payments in January.
• The billionaire venture capitalist and crypto enthusiast Tim Draper are confident that Bitcoin will reach $250,000 in 2023.
• One of the Bitcoin core developers Luke Dashjr posted that many of his Bitcoins were stolen and he had no idea how it happened.

Risks of Investing in Bitcoin

If the stock market is seen as volatile by many, Bitcoin is hyper volatile and its price swings wildly akin to a meme stock. Unlike the prices of stocks which have some form of scientific basis, the underlying value of Bitcoin is still unclear, and therefore the price swings wildly depending on a variety of factors. There are huge risks in investing in Bitcoin and one should be aware of that if one has already invested or is about to invest in Bitcoin or similar cryptocurrencies

Stress and Anxiety

The huge volatility due to Bitcoin price causes investors to often take irrational decisions to buy or sell leads to poor returns. As outlined earlier, investing in Bitcoin in general has been profitable. However, responding to the volatility due to the stress and anxiety of seeing the prices swing wildly often leads to sub-optimal returns. This becomes particularly true if a substantial amount of personal wealth is locked in the asset. Investment advisors often consider your ability to handle this form of volatility along with your financial plans for the next few years before recommending Bitcoin.

Regulatory Risks

Bitcoin threatens the existing Central Banks and as a consequence the Government control of printing and managing currency in the economy. It is unclear how serious this threat is at the moment but most central bankers believe this threat is real. Governments have already responded by either imposing full bans, imposing high taxes, or even launching their tokens in response to the real or imagined threat of Bitcoin. These create additional risks that one does not encounter in stock trading. It is unlikely that many Western countries would impose such bans but it is also important to be aware of these risks.

Investing in Bitcoin must be a part of the healthy financial planning process that should include current wealth, expected income, and future expenses. It should also be overlaid by your mental makeup and response to volatility. A financial advisor would be a good guide to help you take these decisions.

Bitcoin Forecast: How to Invest in Bitcoins?

Getting Bitcoins has been made easier by the day. Multiple exchanges are offering Bitcoin and other cryptocurrencies.

The very first step to investing in Bitcoin is to choose an Exchange. There are multiple exchanges in the market. The most popular ones are:

1. Coinbase
2. Binance
3. Gemini
4. Robinhood
5. Venmo

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions. 

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