Key takeaways
- Bitcoin price faces intense volatility around $61K.
- 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’s price has again faced resistance around the $65K mark, marking the third bearish reversal this year. This pattern, supported by various bearish indicators and technical data, suggests a potential trend reversal. However, analysts still believe that Bitcoin could reach $100,000.
As the second quarter closes at a subdued pace, the onset of Q3 sees a breakout rally with ambitions to quickly exceed $70K. Rising from the vital $60K support level, there is growing hope about the onset of a sustained bull market.
CryptoQuant’s CEO, Ki Young Ju, noted in a recent X post that in 2020, Bitcoin stayed around the $10,000 mark for six months amid high on-chain activity, before surging to $64,000 in 2021. Observing 2024, a similar pattern is emerging, with daily additions of $1 billion to new whale wallets.
However, despite mixed spot Bitcoin ETF flow, the US Bitcoin sentiment develops a bullish trend as BTC HODLers anticipate a continuous uptrend beyond $75,000. This has led analysts to wonder: Will this lead Bitcoin’s price past $100,000?The current BTC trading sentiment is bullish, as Bitcoin traded at its highest point in the pre-halving rally. Since 2024 is bullish for the crypto market, anticipation is that the BTC price could hit $100K during this season.
As Bitcoin on-chain activities surge, questions arise, such as: “Does Bitcoin have the potential of hitting the $100K mark?” or “Will Bitcoin ever 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 | $61,888 |
| Market Cap | $1,238,914,422,643 |
| Trading Volume | $22,318,495,561 |
| Circulating Supply | 19,719,062 |
| All-time High | $73,750, March 14, 2024 |
| All-time Low | $0.04865, Jul 15, 2010 |
| 24 High | $62,888 |
| 24 Low | $61,500 |
Bitcoin Price Prediction: Technical Analysis
| Metric | Value |
| Current Price | $61,888 |
| Price Prediction | $ 88,149 (38.26%) |
| Fear & Greed Index | 50 (Neutral) |
| Sentiment | Neutral |
| Volatility | 5.79% |
| Green Days | 18/30 (60%) |
| 50-Day SMA | $ 60,332 |
| 200-Day SMA | $ 61,761 |
| 14-Day RSI | 55.34 |
Bitcoin Price Analysis
TL;DR Breakdown
- BTC price analysis shows that Bitcoin faced bearish pressure toward $61K.
- Resistance for BTC is present at $66,461
- Support for BTC/USD is present at $61,270
The BTC price analysis for 5 October confirms that Bitcoin is facing increased selling pressure toward the $61K mark. Bitcoin price now aims for a quick recovery above the immediate resistance level.
BTC price analysis 1-day chart: Bitcoin price faces bearish volatility toward $61K
Analyzing the daily Bitcoin price chart, we see that BTC’s price faced intense pressure as it aimed to hold its bearish momentum. As a result, Bitcoin price is now aiming for a drop below the $61K mark. The 24-hour volume has surged to $532 million, rising interest in trading today. BTC price is currently trading at $61,888, decreasing by over 1.6% in the last 24 hours.
The RSI-14 trend line has surged from its previous level and currently trades around the midline at 50, hinting that a bullish 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. However, bears are maintaining selling confidence as the BTC price aims for a retest of support.
The BoP indicator trades in a negative region at 0.84, showing that short-term sellers are taking a chance to accelerate a downward trend.
However, the MACD trend line has formed bullish candles above the signal line and the indicator aims for a positive momentum, strengthening long-position holders’ confidence.
Bitcoin Technical Indicators: Levels And Action
Daily Simple Moving Average (SMA)
| Period | Value | Action |
| SMA 3 | $ 62,747 | SELL |
| SMA 5 | $ 63,802 | SELL |
| SMA 10 | $ 63,875 | SELL |
| SMA 21 | $ 62,379 | SELL |
| SMA 50 | $ 60,332 | BUY |
| SMA 100 | $ 61,057 | BUY |
| SMA 200 | $ 61,761 | BUY |
Daily Exponential Moving Average (EMA)
| Period | Value | Action |
| EMA 3 | $ 61,720 | BUY |
| EMA 5 | $ 60,886 | BUY |
| EMA 10 | $ 60,209 | BUY |
| EMA 21 | $ 60,326 | BUY |
| EMA 50 | $ 61,418 | BUY |
| EMA 100 | $ 62,096 | BUY |
| EMA 200 | $ 59,460 | BUY |
What to expect from BTC price analysis next?
The hourly price chart confirms that Bitcoin attempts to drop below the immediate support line; however, bulls are eyeing for further recovery rally in the upcoming hours. If BTC’s price holds momentum above $66,461, it will fuel a bullish rally to $70,168.
If bulls fail to initiate a surge, the BTC price may drop below the immediate support line at $61,270, beginning a bearish trend to $57,413.
Is Bitcoin a Good Investment?
The rising institutional demand for Bitcoin makes it a good investment option. However, Bitcoin has a short investment history 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 Down Today?
Today, Bitcoin faced intense selling pressure as it dropped below the crucial $61K support line. This created a surge in stop-loss orders for holders. However, buyers are defending further declines and aiming for a quick recovery.
Will BTC Price Recover?
If buyers hold the buying momentum of Bitcoin and send it past the $65K mark, we might see a significant recovery in the coming hours. The current low might be a good time to buy and this might create a strong support level for BTC price.
Will BTC Price Reach $100K?
Depending on the current market sentiment, Bitcoin price might hit the $100K mark by the end of 2024. However, any bearish news might weaken this prediction.
Will BTC Price Reach $1 Million?
$1 Million is a significant milestone for 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
As of September 27th, Farside Investors reported $494.4 million in total inflows into Bitcoin ETFs. Notably, the ARK 21Shares Bitcoin ETF (ARKB) led with $203.1 million in new investments, surpassing BlackRock’s iShares Bitcoin Trust (IBIT). The markets were closed over the weekend of September 28th and 29th.
Bitcoin Price Prediction October 2024
September was a volatile month for Bitcoin, characterized by significant price fluctuations. Is there hope for a turnaround in October?
September was a rollercoaster month for Bitcoin as Fed’s interest rate decision pushed BTC price above the $66K mark. However, the current trend suggests a bearish pullback in the BTC price.
Bitcoin’s price might attempt to surge toward $64,000 from its recent low and be pushed further, at least $73,000, if strong downward pressures are not seen in the Uptober rally. However, we might see a rejection on the bearish side, leading to a consolidation within $60K-$55K.
| Bitcoin Price Prediction | Potential Low | Potential Average | Potential High |
| Bitcoin Price Prediction October 2024 | $55,000 | $64,000 | $73,000 |
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. According to Glassnode, approximately $70 billion of new capital will flow into the crypto market through these newly launched Bitcoin ETFs.
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 $48,000.
See also Telcoin Price Prediction 2024-2030: Will TEL reach $0.1?
| Bitcoin Price Prediction | Potential Low | Potential Average | Potential High |
| Bitcoin Price Prediction 2024 | $48,000 | $67,000 | $110,000 |
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 | $74,790 | $121,352 |
| DigitalCoinPrice | $88,755 | $130,963 |
| Trading Beasts | $102,632 | $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 $110,000, with a minimum price of $48,000 and an average price of $65,000.
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 $110,000 by the end of 2024.
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 recent 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 2024, Bitcoin casino has emerged as a modern and innovative platform for gaming enthusiasts, offering the benefits of anonymity, security, and fast transactions.
