Bitcoin Price: Predictions for 2024-2030
Bitcoin is a widely recognized cryptocurrency known for its staggering prices that have reached up to $60K. It has garnered much attention and scrutiny, and even those not interested in the industry have heard of it.
Over 420 million people worldwide hold cryptocurrency – most located in Asia, followed by North America, Africa, South America, Europe, and Oceania, in that order.
Despite being constantly written off by financial experts who have predicted its bubble will burst for nearly a decade, Bitcoin has proven resilient and remains the top cryptocurrency in the market, resulting in high profits for BTC investors.
However, as the cryptocurrency landscape rapidly evolves, some enthusiasts question whether it is a worthwhile investment. It’s worth noting that this is a long-term Bitcoin price forecast.
According to the statistics, the majority of Bitcoin owners are male (63%) and under the age of 34 (72%). Additionally, most owners (71%) have at least a Bachelor’s degree.
More than 85% of merchants in the US prioritize enabling crypto payments. Those who have accepted them have seen a significant return on investment, with an average ROI of 327% and an increase of up to 40% in new customers. The average annual income of a crypto owner is US$25,000.
Customers who use cryptocurrency tend to spend more per transaction than the average customer, with an average of $250 more spent per transaction.
What Affects the Value of Bitcoin?
Numerous factors can influence Bitcoin’s price. Unlike most altcoins, BTC is less reliant on the overall crypto market and is often the trendsetter.
However, it is still susceptible to general market conditions such as increasing interest rates and significant crypto news, particularly those that impact the industry as a whole or major tokens like Ethereum and Shiba Inu.
Additionally, non-crypto news can impact Bitcoin’s price, as evident in the spring of 2020. Those who have invested in or plan to invest in Bitcoin should also monitor news related to ecology, as any news that affects Bitcoin, crypto exchanges, or blockchain technology can influence its price.
Positive news related to mass adoption or technological advancements typically drives crypto prices higher, while any uncertainty can result in a decline in value.
Based on the analysis conducted by cryptocurrency experts on the prices and fluctuations of Bitcoin in previous years, a close estimate has been deducted for the long-term future of the number one crypto’s price.
- Minimum $41,831.56
- Maximum $50,117.59
- AveragE $43,352.89
- Minimum $60,214.03
- Maximum $74,683.33
- Average $62,381.67
- Minimum $89,018.87
- Maximum $105,149.86
- Average $91,514.13
- Minimum $128,009.22
- Maximum $153,665.46
- Average $131,669.78
- Maximum $218,265.28
- Average $195,072.14
- Minimum $279,196.26
- Maximum $323,564.76
- Average $288,949.86
- Minimum $413,598.75
- Maximum $490,359.65
- Average $428,046.24
According to a study by Finder conducted in October 2022, predictions were made about BTC’s short and long-term price. The study surveyed 55 professionals from the fintech and cryptocurrency industries to gauge their opinions on Bitcoin’s performance in the next decade.
The results are exciting, as the panel predicted that Bitcoin’s value will increase to $79,193 by 2025. By 2030, the price of Bitcoin could soar to $270,722, according to the chart provided.
Тhe study also addressed the possibility of Bitcoin reaching new lows during this bear market.
The cryptocurrency crash significantly impacted the speculative scenarios discussed in the study. Sergey Zhdanov, CEO of EXMO, was one of the panelists who commented that while Bitcoin may be affected by the current global equity crisis in the short term, nothing has fundamentally changed for the cryptocurrency, and it will recover, unlike many other financial assets.
Bitcoin Price Today
At the time of writing, Bitcoin is trading ad 27,900 with a little over 0.5% increase in the price for the past week. The current 24-hour trading volume is more than $12.9 billion. The flagship cryptocurrency stands at the top of the rankings with a market cap of nearly $540 billion.
Although BTC is showing signs of resilience toward the global economic headwinds, it is still down 60% from its ATH of $68,800
According to the 1-day technical analysis from TradingView, Bitcoin is showing bullish signs as the summary points to” buy” at 11. The moving averages also suggest “buy” with 10 signals, while the oscillators stand at “neutral” with 8.
The Fear and Greed index is currently showing that the market sentiment is greed, with a score of 64.
Bitcoin is a highly volatile asset, so due diligence is always needed before investing.
When compared to cryptocurrencies, fiat currencies such as the US dollar are generally considered lower-risk investments. However, they are still considered to be risky assets.
Institutional investors are beginning to show some confidence in Bitcoin and other cryptocurrencies.
Bitcoin is a higher-risk, higher-reward investment option when compared to fiat money and other asset classes.
According to many experts, Bitcoin is expected to show its potential and surpass the previous ATH if you look at historical price data, current adoption rates, and the weakening state of the US dollar.