Key takeaways
- Bitcoin price faces bearish pressure below $100K.
- Our Bitcoin price prediction expects BTC’s price to reach $100K by the end of 2024 due to the bullish sentiment following the halving event.
- By 2030, BTC might touch $270,593 following increased institutional adoption.
Bitcoin is approaching a significant milestone, with the potential to hold above $100,000. This surge in value is partly attributed to the broader market response to Donald Trump’s election.
Since the beginning of the year, Bitcoin’s price has doubled, but it has seen a notable 45% increase in just the two weeks following the presidential election. This boost has solidified Bitcoin’s role in the so-called “Trump trade,” with the president-elect’s positive stance on the cryptocurrency industry fueling investor optimism about this emerging asset class.
As Bitcoin on-chain activities surge, questions arise, such as: “Does Bitcoin have the potential of hitting the $100K mark?” or “Will Bitcoin go up?” or “Where will Bitcoin be in 5 years?” Let’s answer them using our Bitcoin price prediction.
Overview
| Cryptocurrency | Bitcoin |
| Token | BTC |
| Price | $97,841 |
| Market Cap | $1,238,914,422,643 |
| Trading Volume | $22,318,495,561 |
| Circulating Supply | 19,719,062 |
| All-time High | $103,900, December 5, 2024 |
| All-time Low | $0.04865, Jul 15, 2010 |
| 24-hour high | $103,900 |
| 24-hour low | $94,660 |
Bitcoin price prediction: Technical analysis
| Metric | Value |
| Current Price | $97,841 |
| Price Prediction | $ 108,001 (11.67%) |
| Fear & Greed Index | 84 (Extreme Greed) |
| Sentiment | Bullish |
| Volatility | 12.34% |
| Green Days | 17/30 (57%) |
| 50-Day SMA | $ 87,855 |
| 200-Day SMA | $ 76,476 |
| 14-Day RSI | 69.34 |
Bitcoin price analysis
TL;DR Breakdown:
- BTC price analysis shows a consolidation below $100K.
- Resistance for BTC is at $101,392.
- Support for BTC/USD is at $95,260.
The BTC price analysis for 9 December confirms that Bitcoin is facing increased selling pressure as it failed to hold above the $100K mark. Currently, BTC price is aiming for a drop below immediate Fib level.
BTC price analysis 1-day chart: Bitcoin price struggles below $100K
Analyzing the daily Bitcoin price chart, we see that BTC’s price faced bearish pressure as it struggled to hold above $100K. In recent hours, the price of BTC is holding around the $97K region. The 24-hour volume has surged to $31.2 million, raising interest in trading today. BTC is trading at $97,841, surging by over 0.1% in the last 24 hours.
The RSI-14 trend line has surged from its previous level but trades around the overbought region at 59, hinting that a bearish pressure is on the edge. The SMA-14 level suggests volatility in the next few hours.
BTC/USD 4-hour price chart: Bulls aim for an immediate correction
The 4-hour Bitcoin price chart suggests that bulls are strengthening their position as they are aiming to hold the price above the EMA trend lines. Currently, bulls are maintaining buying confidence as the BTC price aims for a retest of resistance.
The BoP indicator trades in a bearish region at 0.15, showing that short-term sellers are taking a chance to accelerate a downward trend.
Additionally, the MACD trend line has formed red candles below the signal line and the indicator aims for a negative momentum, strengthening short-position holders’ confidence.
Bitcoin technical indicators: Levels and action
Daily simple moving average (SMA)
| Period | Value | Action |
| SMA 3 | $ 86,233 | BUY |
| SMA 5 | $ 88,444 | BUY |
| SMA 10 | $ 92,201 | BUY |
| SMA 21 | $ 90,791 | BUY |
| SMA 50 | $ 77,855 | BUY |
| SMA 100 | $ 69,289 | BUY |
| SMA 200 | $ 66,476 | BUY |
Daily exponential moving average (EMA)
| Period | Value | Action |
| EMA 3 | $ 87,424 | BUY |
| EMA 5 | $ 82,228 | BUY |
| EMA 10 | $ 75,482 | BUY |
| EMA 21 | $ 69,843 | BUY |
| EMA 50 | $ 65,401 | BUY |
| EMA 100 | $ 63,569 | BUY |
| EMA 200 | $ 61,244 | BUY |
What to expect from BTC price analysis next?
The hourly price chart confirms that Bitcoin is attempting to drop below the immediate support line; however, bulls are eyeing a recovery rally in the coming hours. If BTC’s price holds momentum above $101,392, it will fuel a bullish rally to $104,840.
If bulls fail to initiate a surge, the BTC price may drop below the immediate support line at $95,260, beginning a bearish trend to $90,152.
Is Bitcoin a good investment?
The rising institutional demand for Bitcoin makes it a good investment option. However, Bitcoin has a short investment history that is filled with very volatile prices. Whether it is a good investment depends on your financial profile, investment portfolio, risk tolerance, and investment goals.
Why is Bitcoin up today?
Following Donald Trump’s victory in the elections, Bitcoin faced increasing buying activity. As a result, the BTC price broke through the $100K mark and formed a new ATH.
Will BTC price reach $100K?
Bitcoin price recently broke its much-anticipated mark of $100K, forming a new ATH. The price is currently aiming to maintain its buying demand above $100K.
Will BTC reach $1 million?
$1 Million is a significant milestone for the BTC price. However, it is achievable if Bitcoin continues to attract institutional interest in the coming years.
Is Bitcoin a good long-term investment?
As several institutions continue to accumulate BTC and Bitcoin faces a rise in global recognition, Bitcoin has a solid long-term future.
Recent news/opinions on BTC
- Robert Kiyosaki predicts Bitcoin may drop to $60,000 but views this as a buying opportunity, expecting it to eventually stabilize around $250K by 2025.
Bitcoin price prediction December 2024
November was a bullish month for Bitcoin, characterized by significant upswings. Will BTC price establish a new ATH in December?
Bitcoin’s price might attempt to surge toward $100,000 from its recent low and be pushed further, at least $105,000 if strong downward pressures are not seen. However, we might see a rejection on the bearish side, leading to a consolidation around $92K.
| Bitcoin Price Prediction | Potential Low | Potential Average | Potential High |
| Bitcoin Price Prediction December 2024 | $92,000 | $100,000 | $105,000 |
Bitcoin price prediction 2024
Historically, Bitcoin has been a significant crypto coin in the year following a halving, and it is expected to push up its price. Bitcoin miners might play a crucial role in holding bullish sentiment for future price movements.
Bitcoin spot ETFs are projected to be a key driver of Bitcoin prices and the broader cryptocurrency market in 2024.
Furthermore, there is an increasing bullish sentiment that the base interest rates could be cut in the US, and thus, help to further the upward movement of Bitcoin. An outcome of which the 2024 year could be positive for Bitcoin, with its crypto-price perhaps touching $110,000 in the highest and the low could be around $88,000.
| Bitcoin Price Prediction | Potential Low | Potential Average | Potential High |
| Bitcoin Price Prediction 2024 | $88,000 | $97,000 | $105,000 |
Bitcoin Price Predictions 2025-2030
| Year | Minimum Price | Average Price | Maximum Price |
| 2025 | $95,000 | $120,000 | $160,000 |
| 2026 | $115,000 | $130,000 | $185,000 |
| 2027 | $140,491 | $170,100 | $216,738 |
| 2028 | $164,063 | $185,068 | $244,142 |
| 2029 | $195,629 | $200,312 | $255,321 |
| 2030 | $225,903 | $248,568 | $270,593 |
Bitcoin Price Prediction 2025
The Bitcoin Halving event’s impact is expected to last into 2025, potentially holding the Bitcoin price above the $100,000 mark. If the global economy strengthens and inflation stabilizes at 2%, interest rates could be reduced by 2025.
Clearer crypto regulations could boost BTC investor confidence, leading to more buying demand amid scarcity due to halving.
Following the halving event over the next 12-18 months, BTC price is expected to surge toward $160,000, with a minimum price of $95,000.
Bitcoin Price Prediction 2026
Bitcoin might witness a slow growth after 2025’s halving surge, resulting in a surge in selling pressure. However, more financial products including a surge in ETF demand might hold BTC price within a bullish region. We might see a maximum price of $185,000, with a minimum price of $115,000 and average price of $130,000. However, BitMEX Ceo Arthur Hayes predicted the BTC price to touch $700K in 2026.
Bitcoin Price Prediction 2027
Based on detailed technical analysis of past Bitcoin price data, it is projected that in 2027, Bitcoin could see a minimum price of $140,491. The potential maximum price is estimated to be $216,738, with an average value of $170,100.
Bitcoin Price Prediction 2028
By 2028, Bitcoin’s price is expected to reach a low of $164,063. Maximum price projections are as high as $244,142, averaging about $185,068 for the year.
Bitcoin Price Forecast 2029
Projections for 2029 suggest that Bitcoin could be valued at a minimum of $195,629. The price may peak at as much as $255,321, with an average throughout the year expected to be around $200,312.
Bitcoin (BTC) Price Prediction 2030
The forecast for 2030 suggests that Bitcoin’s price could start at a minimum of $225,903 and potentially rise to a maximum of $270,593. The average price is anticipated to stabilize at about $248,568 throughout the year.
Read more: Bitcoin into the last april weekend 2024 – btc halving chronicles
Bitcoin Market Price Prediction: Analysts’ BTC Price Forecast
| Firm Name | 2024 | 2025 |
| Gov.Capital | $101,790 | $121,352 |
| DigitalCoinPrice | $103,755 | $130,963 |
| TradingBeasts | $88,632 | $154,235 |
- CoinCodex predicts Bitcoin’s price could reach $158,827 by 2025, using the Bitcoin Rainbow Chart based on past volatility and the cyclical nature of Bitcoin Halving events.
- Cathie Wood of Ark Invest forecasts Bitcoin may hit $600,000 by 2030, with a potential rise to $1.5 million in her bull case scenario after Bitcoin ETFs approval.
- Bloomberg Intelligence’s Mike McGlone estimates Bitcoin will reach $100,000 by 2030, attributing the increase to rising demand and BTC scarcity.
- Robert Kiyosaki predicts Bitcoin price to touch $120,000 by the end of 2024.
Cryptopolitan’s Bitcoin (BTC) Price Prediction
At Cryptopolitan, we are bullish on Bitcoin’s future price as the historical market sentiment is extremely impressive. By the end of 2024, Bitcoin might record a maximum price of $105,000, with a minimum price of $88,000 and an average price of $97,000.
However, the future market potential for Bitcoin entirely depends on its buying demand, regulation and investor sentiment in long-term holding.
We expect Bitcoin price to create a high of $216,000 by the end of 2027.
Bitcoin Historical Price Sentiment
- Satoshi Nakamoto created Bitcoin in 2009, marking the first use of blockchain technology.
- Bitcoin was initially of little value, gaining significant traction and hitting over $15,000 during the 2017 boom, with further highs reached in 2019 and 2021.
- In 2021, Bitcoin peaked at $68,789.63 but dropped to $15,760 by December 2022 amid economic pressures including inflation and geopolitical conflicts.
- By April 10, 2023, Bitcoin’s price surged 83%, breaking the $30,000 resistance level.
- Throughout mid-2023, Bitcoin’s value hovered around $30,000, nearly reaching $32,000 due to positive market sentiments and potential ETF approvals.
- Bitcoin experienced a significant price drop in mid-August 2023, falling to $25,000 and remained volatile with October prices fluctuating between $26,000 and $29,500.
- Bitcoin closed 2023 above $42,000, a 155% increase from the year’s start.
- Early 2024 saw Bitcoin rise above $45,000 in anticipation of multiple ETF approvals, despite a brief dip below $40,000 following the ETF approval.
- Bitcoin’s price surged in February 2024, breaking its previous all-time high from 2021 on March 5th, reaching over $70,000 by March 8th, and setting a new high of $73,750.07 on March 14th.
- However, in April, the BTC price dropped below $60K.
- Later in May, the price of bitcoin surged and knocked the $70K level.
- In the weeks of June and July, BTC price witnessed heavy fluctuations as it hovered within the range of $70K-$55K.
- In September, the price of BTC surged toward $66K following Fed’s interest rate cut decision.
- In October, the price of Bitcoin faced an Uptober rally, resulting in a push toward the significant $70K resistance level.
- In November, the price of BTC witnessed a robust surge following Donald Trump’s victory, nearing the $100K mark.
- In 2024, Bitcoin casino emerged as a modern and innovative platform for gaming enthusiasts, offering the benefits of anonymity, security, and fast transactions.
