Bitcoin Price Prediction 2022 - 2040 - Will BTC Price Go Up?
What is Bitcoin?
Bitcoin, fondly called Digital Gold, is a digital asset invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a dispersed public ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million, and new Bitcoins are created as a reward for miners who protect and validate transactions on the network. These rewards incentivise miners to keep the network secure, which is essential for Bitcoin's continued success.
Bitcoin Overview
Bitcoin is often lauded for its potential to revolutionise how we interact with the global financial system. By creating a decentralised network, it has eliminated the need for central intermediaries like banks or governments. This could potentially lead to lower transaction fees and reduced barriers to entry, particularly for those in developing countries. How was it created, and what should we expect in the coming years? Let’s dive right in.
History of Bitcoin
Bitcoin’s existence dates back to 2008 when a pseudonym person, Satoshi Nakamoto, created a whitepaper for a new model of digital currency. It was not until 2009, months after the global crises happened that the first block was mined, and the digital currency economy was born. It was alien to have a currency that did not need centralised oversight, and a flurry of criticisms was thrown after Bitcoin's creation. Two of the earliest arguments against Bitcoin are that it is a Ponzi scheme and cannot be used to purchase anything. Since then the both arguments have been made redundant and the rest is the history.
Bitcoin vs Fiat Currencies
One question that has lingered on in the crypto space is the type of relationship that exists between Bitcoin and Fiat currency. Some analysts believe Bitcoin will replace the Dollar as the global currency, while others opine that it will only act symbiotically to improve the ease of currency exchange and globalisation. Irrespective of which side you are on, there are a few things that give Bitcoin an advantage over fiat currencies, both as a medium of exchange and as a store of value. They include:
- Lower transaction costs: Sending money through Bitcoin is substantially cheaper than sending money through banks or traditional payment processors like Paypal. There is also no extra or hidden fee attached to sending Bitcoins.
- Accessibility: There is no discrimination on who can use Bitcoin network. In reality, anyone with internet connection is able to interact with the network without having to submit any personal information.
- Transparency: Bitcoin transactions are stored on a digital ledger. This makes them transparent to everyone and increases trust between parties.
What Affects the Value of Bitcoin?
Scarcity Level
There will only be 21 million BTC mined, and with the number of lost private keys, Bitcoin will experience a supply crunch when all the coins have been mined. Economic principles explain that more demand than supply should cause a price bump.
High Bitcoin Adoption
Bitcoin has seen a huge following from several traditional companies and financial institutions. With more companies and individuals looking at either Bitcoin exposure or crypto payment processing, the adoption will influence the price of Bitcoin.
Mining Cycle
Bitcoin bull runs coincide with the Bitcoin halving cycle. This is another factor that can affect the value of Bitcoin.
Social Media Attention
Online sentiments about 1st cryptocurrency can either drive people to buy or cause them to sell Bitcoin. The herd mentality around Bitcoin is huge, and holders with a substantial online following can cause a spike in volume.
Bitcoin Technical Analysis
Bitcoin Price Movement in Recent Years
Bitcoin has experienced a volatile ride since its inception in 2009, and many of these price swings have come from both positive and negative news. Tesla accepting Bitcoin for vehicle payments, the Mt Gox hack, and China banning all crypto activities are a few of many news that has influenced its price in recent years. Bitcoin hit its highest-ever price of $69,000 in November 2021 but has corrected by over 70%. This correction pales to the 2013 and 2015 corrections of 83% and 87%, respectively.
Bitcoin Price Prediction 2022
Changelly Blog predicted that Bitcoin would trade between $22,000 and $23,000 in 2022. This is still the closest to current market prices, with other prediction sites like TechNewsLeader and PricePrediction projecting $37,000 and $25,000, respectively.
Bitcoin Price Prediction 2023
- According to Market Trends, Bitcoin should return to its all-time high at the end of 2023. A bull run is expected to start the year, which will see Bitcoin trade around $69,000 by the end of 2023.
- Changelly thinks Bitcoin will trade at an average price of $30,244 at the end of 2023. The highest Price would be around $35,929, while the lowest should range close to $29,000.
- Ambcrypto believes Bitcoin price will skyrocket in 2023, hitting somewhere between $84,000 and $96,979.90.
Bitcoin Price Prediction 2024
- Changelly is betting on Bitcoin price being somewhere between $42,000 and $51,500 in 2024. As explained by their technical analysis experts, the likely outcome will be $43,946
- Ambcrypto continues its ambitious prediction of Bitcoin with a $113,294 price target in 2024. The company believes Bitcoin could shoot up to $120,000 and cannot go below $105,363
- CryptoNewsz expects Bitcoin to start in 2024 at an average price of $78,000. The company believes Bitcoin will significantly increase in price in 2024 due to Bitcoin halving and guesses it might spring up to $85,000 later in the year.
Bitcoin Price Prediction 2025
- The Changelly team’s BTC price prediction 2025 says Bitcoin will trade between $62,000 and $72,737 in 2025. The team considered volatility and timed histories of market spikes. The average Bitcoin price target 2025 is $63,856.03
- Cryptonewsz expects Bitcoin projections 2025 to trade between $40,000 and $45,000 in 2025. They expect BTC 2025 price prediction to remain more than double its current price and possibly be around the $50,000 price range.
Bitcoin Price Prediction 2026
- Considering several analyses, Changelly believes the price of Bitcoin in 2026 would be between $90,000 and $108,000. The average price is expected to be $93,677.
- Priceprediction.net believes Bitcoin will trade close to the $200,000 mark in 2026. The estimates are between $181,000 and $214,000.
- Ambcrypto has a similar price target to Procepreduction. The analysts’ forecast from the company puts Bitcoin at an average price of $247,279 in 2026.
Bitcoin Price Prediction 2027
- Changelly does not see any Bitcoin dip in coming years, as its 2027 price predictions signal a 4th consecutive year of upward movement. In 2027, Changelly expects Bitcoin 5 year prediction to be around $131,000 and $162,700.
- Ambcrypto’s price prediction for Bitcoin signals an optimistic, luscious future for Bitcoin. The company believes Bitcoin price in 5 years will begin at $280,999 and peak at $395,000.
- Very similar price predictions were given by Priceprediction.net, as the company expects Bitcoin to trade between $260,000 and $306,558.
Bitcoin Price Prediction 2028
- Technewsleader predicts that Bitcoin will trade at around $386,000 in 2028. This figure was down after the company made several analyses and research. The predicted average price is $319,069.
- Changelly has a price target of $190,000 for Bitcoin in 2028. The bull case might increase to $227,000, but the company believes Bitcoin will likely average $195,800.
- The most optimistic of the lot is Priceprediction.net. The site predicts a $454,000 price for Bitcoin in 2028. The bear case sees the crypto drop to $374,000.
Bitcoin Price Prediction 2029
- Considering several analyses, Changelly believes the price of Bitcoin in 2029 would be between $276,706.17 and $325,438.93. The average price is expected to be $284,539.12.
- Technewsleader‘s analysis sees Bitcoin ranging between $477,000 and $527,000 in 2029
- Ambcrypto has a more optimistic price target for Bitcoin. The Bitcoin price forecast from the site puts Bitcoin in a range between $621,000 and $715,000.
Bitcoin Price Prediction 2030
- Careful analysis of Bitcoin’s price patterns leads Changelly to believe Bitcoin long-term forecast is between $402,000 and $413,000 by 2030. The site expects a possible Bitcoin peak at $489,284.23.
- Priceprediction.net is very optimistic about Bitcoin’s price in 2030. The estimates point to a $930,000 price target, and the most likely price is $798,474.46.
- The most ambitious group for Bitcoin’s price in 2030 is Ambcrypto. According to the website, Bitcoin might hit $1 million in the next eight years (2030), and the minimum price that should be expected should be $836,552.147.
Bitcoin Price Prediction 2040
- Telegoan predicts that Bitcoin will trade at around $618,000 in 2040. This figure was down after the company made several analyses and research. The predicted average price is $555,000.
- Ambcrypto has a price target of $618,552 for Bitcoin in 2040.
Potential Highs & Lows of Bitcoin
Several Factors That Drive Bitcoin Price Boost
Scarcity Level
Bitcoin’s limited supply is one of its unique traits. There will only be 21 million Bitcoins ever created, and currently, only 10% remain to be mined. As more people get acquainted with a more convenient way to foster cross-border payments, the demand will outpace supply, creating a scarcity situation. A similar asset where this theory plays out is precious metals.
High Bitcoin Adoption
One of the true measures of a cryptocurrency’s potential is not in its price or volatility but in its global adoption. Despite the many bear cases against Bitcoin’s existence, the cryptocurrency has continued to see global adoption from retail and institutional investors. Several financial bodies are incorporating Bitcoin into their payment methods, and funds are beginning to offer some exposure to Bitcoin. Data released from Coinshares show that global Bitcoin adoption increases by an average of 113% yearly. If the statistics continue in this trend, global adoption will positively impact the price of Bitcoin. Analysing Bitcoin’s adoption with the growth of the internet in its early days, one can also infer that Bitcoin is experiencing a greater adoption rate than the internet.
Social media
The level of social media chatter about a cryptocurrency reveals the sentimental analysis of the coin. Social media can amplify fear or greed, and terms like ‘to the moon, FOMO, and Hodl have become popular outside the cryptocurrency space. Bitcoin is one of the most talked-about cryptocurrencies on social media and has a huge following across different platforms. This means major news, like Tesla accepting Bitcoin payments to purchase their cars, can cause a chain of buying sentiments.
How to read and predict Bitcoin price movements?
There are two major tools traders can use to predict the next direction of Bitcoin. These are charts patterns and indicators. Chart patterns involve identifying resistance and supports and trying to make sense of positional information of highs and lows. On the other hand, indicators are extra tools used to confirm the information on the charts.
Bitcoin Price Prediction Indicators
Moving Average
Moving Average indicator is a tool used by traders to help identify trends in the market. The indicator looks at an asset's average price over time and then plots that data on a chart. The resulting line can help determine whether the market is moving up, down, or sideways. For example, if the moving average line is sloping upwards, it may indicate that the market is in an uptrend. Conversely, if the line is sloping downwards, it may indicate that the market is in a downtrend. Traders often use multiple moving averages of different lengths in order to get a more accurate picture of the trend.
MACD
MACD, which stands for Moving Average Convergence Divergence, is a technical analysis indicator that is used to gauge the strength and momentum of a stock or other security. MACD is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. The resulting line is then plotted on a chart along with a signal line, which is usually a 9-day EMA of the MACD line. MACD is considered a lagging indicator because it is based on past price data. However, many traders believe that MACD can be used to predict Bitcoin future price movements. For example, if the MACD line crosses above the signal line, it may be an indication that the asset is about to experience an uptick in price. Conversely, if the MACD line crosses below the signal line, it may be an indication that the asset is about to experience a decline in price. While MACD can be useful, it should not be used as the sole basis for making investment decisions. Instead, it should be viewed as one tool among many that can be used to make informed investment choices.
RSI
The RSI indicator is a technical analysis tool that measures the level of momentum in an asset. Unlike other momentum indicators, which only take into account the price action, the RSI also takes into account the volume traded. The RSI is calculated using the following formula: RSI = 100 - 100/(1+RS), where RS = Average Gain/Average Loss. The indicator ranges from 0 to 100, with readings below 30 indicating oversold conditions and readings above 70 indicating overbought conditions. The RSI is considered to be a leading indicator, as it can often predict reversals before they occur. However, it is important to note that the indicator is not perfect, and false signals can occur. As with any technical indicator, it is always best to use the RSI in conjunction with other tools in order to make more informed investment decisions.
Bollinger Bands
The Bollinger Bands indicator is a technical tool that uses market price action to find potential trading opportunities. The indicator is made up of three moving averages: a simple moving average, an upper Bollinger Band, and a lower Bollinger Band. The simple moving average is used to smooth out price action and help identify the trend. The upper Bollinger Band is placed two standard deviations above the simple moving average while the lower Bollinger Band is placed two standard deviations below the simple moving average. The Bollinger Bands indicator can be used in a number of ways, but one common use is to look for potential buy and sell signals when the market price approaches or crosses one of the Bollinger Bands. For example, a buy signal may occur when the market price breaks above the upper Bollinger Band after being in a downtrend. Similarly, a sell signal may occur when the market price breaks below the lower Bollinger Band after being in an uptrend. While the Bollinger Bands indicator can be helpful in finding potential trading opportunities, it is important to remember that it should be used in conjunction with other technical indicators and market analysis to make sure that those opportunities are valid.
Candlesticks
Candlesticks charts give a more explicit analysis of an asset’s price action than a line chart. There are two major components of a candlestick; the wick and the body. The wick shows the highest and lowest point during a particular timeframe, while the body shows the opening and closing prices.
Candlesticks can also come in either of two colors. A green candle shows the opening price was lower than the closing price. The red wick, however, shows the opening price was higher than the closing price.
Candlesticks can be shown on different timeframes, from short ones like 15s, 30s, and 1m, to longer ones like 4hrs and 1-day charts.
Bullish and Bearish Price Prediction Patterns
There are different candlestick patterns that can indicate a bullish or bearish pattern.
For the bullish, the Hammer, Morningstar, and three white soldiers are three popular ones of many patterns.
The evening star, shooting star, and hanging man are three candlestick patterns for the bearish pattern.
Final Thoughts
Bitcoin’s price rise has formed a pattern since its inception, with bull runs coinciding with the halving period. It is unclear if this pattern will continue, but current market conditions suggest it could. There is also a lot of regulatory pressure on Bitcoin, and with most countries still figuring out how to regulate it, this could also be a defining factor for Bitcoin’s future price.
Disclaimer
This communication is intended as strictly informational, and nothing herein constitutes an offer or a recommendation to buy, sell, or retain any specific product, security or investment, or to utilise or refrain from utilising any particular service. The use of the products and services referred to herein may be subject to certain limitations in specific jurisdictions. This communication does not constitute and shall under no circumstances be deemed to constitute investment advice. This communication is not intended to constitute a public offering of securities within the meaning of any applicable legislation.
FAQ
Is Bitcoin a Good Investment in 2022?
Bitcoin might be a very good investment in 2022. All asset prices are down, and Bitcoin, in particular, is down by almost 70%. This could play out to be a good bargain for long-term investments.
What Will the BTC Price Be in 5 Years?
Several sites have given their Bitcoin predictions for 2027. Changelly sees it at $162,000, Ambcrypto believes it will be closer to $395,000, and PricePrediction sees it at $306,000.
Will Bitcoin Ever Hit $100000?
Although the timing is unknown, the consensus in the crypto market is that Bitcoin will hit $100,000.
How High Can Bitcoin Go in 10 Years?
It will be interesting to see how high Bitcoin will go in 10 years, but the market seems to favour an $800,000 to $1 million price range, according to different sites.
Is It Too Late to Buy Bitcoin?
You could have made a fortune buying Bitcoin in its early days, but corrections are a second chance for a favourable price entry.
How Much will Bitcoin be worth in 2025?
Bitcoin price forecast for 2025 is predicted to be worth between $40,000 and $50,000, according to different prediction sites. Although Changelly Predicts Bitcoin price in 2025 to be roughly $72,000, the general consensus does not exceed $50,000.
