Bitcoin is the world's first cryptocurrency with the highest value. Investors and traders are highly interested in Bitcoin's uniqueness, growth potential, and ability to influence other cryptocurrencies. With a market cap of $539,114,505,737, the Bitcoin exchange rate directly impacts other digital assets.
This article reviews the history of this cryptocurrency, forecasts for the near future using technical analysis, and examines the estimates of leading cryptocurrency analysts.
The article covers the following subjects:
- Highlights and Key Points
- Weekly Elliott wave Bitcoin analysis as of 26.08.2024
- Bitcoin Price Forecast for 2024 — Experts Predictions
- Bitcoin Technical Analysis
- Long-Term BTCUSD Technical Analysis for 2024
- Long-Term Trading Plan for BTC
- Bitcoin Price Prediction 2025
- Bitcoin Price History
- Bitcoin Price Predictions 2026–2029
- Bitcoin Price Prediction for 2030
- Bitcoin Price Prediction 2040
- Bitcoin price prediction 2050
- How to Predict Bitcoin Price?
- Is Bitcoin a Good Investment?
- FAQs on Bitcoin Price Prediction
Highlights and Key Points
- The current Bitcoin price in US dollars as of 02.09.2024 is $57 676.00;
- Bitcoin will continue to trade at around $66 000 - $76 000 till the end of 2024. By the end of the year, the coin may reach $76 000 – $78 000;
- In 2025, the average BTC price will reach $109 000. The coin is expected to trade in the $124 000 – $132 000 range;
- In 2030, the BTCUSD rate will trade at $117 252, and the highest price is expected to be around $765 037.86.
- BTCUSD: according to the Elliott wave analysis, BTCUSD quotes are expected to grow to the high of 69940.00 during the week. Consider buying BTC at the current level, taking profits at 69940.00.
Weekly Elliott wave Bitcoin analysis as of 26.08.2024
The BTCUSD continues to form a global impulse (1)-(2)-(3)-(4)-(5). The first four parts of this pattern must have been completed. Correction (4) is a double zigzag W-X-Y. The ascending wave (5) is unfolding as an impulse [1]-[2]-[3]-[4]-[5] on the last segment of the price chart. Sub-waves [1]-[2]-[3] are likely completed. A correction [4], consisting of sub-waves (A)-(B)-(C), must have ended. The initial part of a new bullish wave is developing on the last section of the chart. Let’s analyze the chart in more detail on the 4-hour time frame.
The initial part of a new bullish wave is developing as an impulse (1)-(2)-(3)-(4)-(5). The first two small sub-waves (1) and (2) have been completed as an impulse and a zigzag correspondingly. A sub-wave (3) is underway. The price may grow to the high of 69940.00 and even further within this wave. The correction (B) finished at this level earlier. In this situation, long trades can be considered.
Weekly BTCUSD trading plan:
Buy 64257.50, TP 69940.00
BTCUSD Elliott wave analysis is presented by an independent analyst, Roman Onegin.
Bitcoin Price Forecast for 2024 — Experts Predictions
Although the BTCUSD currently trades flat, most analysts maintain an optimistic outlook for 2024. However, most websites have updated their forecasts, making them less optimistic.
Changelly
Price range: $58 804.48 - $86 594.97 (as of August 5, 2024)
According to Changelly, the Bitcoin rate will slowly increase. The lowest price will reach $58 804.48, and the highest one is expected to hit $86 594.97.
| Month | Minimum, $ | Average, $ | Maximum, $ |
|---|---|---|---|
| August | 61 087 | 71 511.50 | 81 936 |
| September | 58 804.48 | 72 668.32 | 86 532.16 |
| October | 61 162.98 | 62 595.79 | 64 028.59 |
| November | 61 714.67 | 63 687.45 | 65 660.23 |
| December | 61 579.97 | 74 087.47 | 86 594.97 |
LongForecast
Price range: $41 759 - $66 163 (as of August 5, 2024)
LongForecast analysts suggest that the BTC price will continue to trade in the current channel, lowering a bit by the year-end. No significant growth is expected. By the end of the year, the price will trade around $48 071.
| Month | Open, $ | Min–Max, $ | Close, $ |
|---|---|---|---|
| August | 66 163 | 46 053 - 66 163 | 51 928 |
| September | 51 928 | 43 137 - 63 054 | 46 384 |
| October | 46 384 | 46 384 - 53 915 | 50 388 |
| November | 50 388 | 41 759 - 50 388 | 44 902 |
| December | 44 902 | 44 706 - 51 436 | 48 071 |
PricePrediction
Price range: $57 576.39 - $76 264.56 (as of August 5, 2024)
PricePrediction offers a more optimistic forecast, with the lowest price at $57 576.39 and the highest one at $76 264.56. This prediction seems a bit more realistic in the current conditions.
| Month | Minimum, $ | Average, $ | Maximum, $ |
|---|---|---|---|
| August | 61 087 | 71 511.50 | 81 936 |
| September | 58 804.48 | 72 668.32 | 86 532.16 |
| October | 61 162.98 | 62 595.79 | 64 028.59 |
| November | 61 714.67 | 63 687.45 | 65 660.23 |
| December | 61 579.97 | 74 087.47 | 86 594.97 |
CoinPriceForecast
Price range: $60 610 - $60 905 (as of August 5, 2024)
According to CoinPriceForecast, the BTC rate will drop in 2024, with the pricew reaching $60 610.
| Year | Year-End, $ |
|---|---|
| 2024 | 60 610 |
BitcoinWisdom
Price range: $63 154.69 - $78 943.37 (as of August 5, 2024)
BitcoinWisdom forecasts that the BTC rate will continue to grow steadily in 2024, but notable drops are expected along the way. The lowest price will reach $63 154.69 and the highest one will hit $78 943.37.
| Year | Minimum, $ | Average, $ | Maximum, $ |
|---|---|---|---|
| 2024 | 63 154.69 | 73 680.48 | 78 943.37 |
Bitcoin Technical Analysis
Bitcoin is the leading cryptocurrency, standing apart from its competitors. Its significant price fluctuations are primarily driven by fundamental factors. Let's analyze the asset performance using standard indicators such as the SMA, RSI, Ichimoku Cloud, and Bollinger Bands.
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BTCUSD Analysis For Next Three Months
Let's use a daily time frame to analyze the BTCUSD for the next three months. The image below shows that the price trades above the SMA, and the RSI level is at 58.50. The asset may try to break the resistance of 71,831 again soon.
Let's take a look at the Ichimoku Cloud indicator to get more information.
The Tenkan Sen line is above the Kijun Sen. Both lines are ascending. The asset trades above the recently reversed bullish Cloud. The Chikou Span line is below the price chart. The indicator gives a bullish signal.
Long-Term BTCUSD Technical Analysis for 2024
Based on the forecast for the next three months, BTCUSD may continue to trade flat in the long term. The price is trying to rise but cannot break through the resistance of 71,831. Some fundamental factors will likely be required for further exchange rate growth.
Bollinger Bands and pivot points will be useful in forecasting the price for 2024. One of the potential scenarios is depicted below. If the price consolidates above 71,831, the asset will grow till the end of the summer.
The table below shows the expected price levels in each month of 2024:
| Month | BTCUSD price forecast | ||
|---|---|---|---|
| Minimum, $ | Maximum, $ | ||
| August | 70 771.51 | 76 918.17 | |
| September | 73 039.72 | 79 230.16 | |
| October | 68 225.29 | 75 798.51 | |
| November | 73 230.16 | 79 884.87 | |
| December | 81 120.86 | 86 950.36 | |
Long-Term Trading Plan for BTC
Currently, there is no clear trend in the BTCUSD market. The sharp surge after halving has completely lost its momentum. Most likely, the asset will trade within a channel. Fundamental factors may facilitate the trend reversal, as important news can dramatically change the currency value. Therefore, you should closely monitor the events in the crypto industry.
- Consider long trades in the coming month and until the end of the summer. A slight bullish movement is expected.
- If you have already opened long positions, expect a further rise to 78,330 once the price consolidates above the 71,831 level.
- An optimistic scenario suggests that the price may reach 98,897.56 by the end of the year.
- The price may decrease in the fall. During this period, you should monitor the news regarding the crypto industry.
Long-term forecasting is challenging, especially in the current market conditions. Remember to conduct your own market research before making trading decisions.
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Bitcoin Price Prediction 2025
The long-term forecast of the Bitcoin and other cryptocurrencies is approximate, as the market situation can change at any time. Let's review the analyst's predictions for 2025.
Changelly
Price range: $62 756.11 - $124 926 (as of August 5, 2024)
According to Changelly, the lowest Bitcoin price in 2025 will reach $62 756.11, and the highest one will touch the $124 926 level. Overall forecast is positive, the growth is predicted to be stable and confident.
| Month | Minimum, $ | Average Price, $ | Maximum, $ |
|---|---|---|---|
| January | 62 756.11 | 88 478.89 | 77 051.92 |
| February | 66 707.73 | 90 362.81 | 81 404.11 |
| March | 70 659.36 | 92 246.73 | 85 756.30 |
| April | 74 610.99 | 94 130.65 | 90 108.49 |
| May | 78 562.61 | 96 014.57 | 94 460.68 |
| June | 82 514.24 | 97 898.49 | 98 812.87 |
| July | 86 465.87 | 99 782.40 | 103 165.05 |
| August | 90 417.49 | 101 666.32 | 107 517.24 |
| September | 94 369.12 | 103 550.24 | 111 869.43 |
| October | 98 320.75 | 105 434.16 | 116 221.62 |
| November | 102 272.37 | 107 318.08 | 120 573.81 |
| December | 106 224 | 109 202 | 124 926 |
PricePrediction
Price range: $71 468.50 - $124 937.67 (as of August 5, 2024)
PricePrediction estimates that the lowest Bitcoin price may hit $71 468.50 in January 2025. The average price will reach $78 168.67, and the highest one is projected to be $80 402.07. By December those numbers will grow, estimating at $106 235.21, $109 213.06 and $124 937.67, respectively. As the year progresses, the growth is expected to be stable, without any drops or corrections.
| Month | Minimum, $ | Average Price, $ | Maximum, $ |
|---|---|---|---|
| January | 71 468.50 | 78 168.67 | 80 402.07 |
| February | 76 754.19 | 79 732.05 | 84 310.50 |
| March | 79 943.48 | 82 921.33 | 87 499.78 |
| April | 83 260.33 | 86 238.18 | 90 816.63 |
| May | 84 240.63 | 87 962.95 | 94 266.16 |
| June | 87 623.98 | 90 601.84 | 98 664.31 |
| July | 89 436.02 | 92 413.87 | 103 194.40 |
| August | 92 208.43 | 95 186.29 | 106 890.96 |
| September | 95 271.42 | 98 993.74 | 110 698.41 |
| October | 97 995.76 | 100 973.61 | 115 648.09 |
| November | 101 290.24 | 105 012.56 | 119 687.04 |
| December | 106 235.21 | 109 213.06 | 124 937.67 |
LongForecast
Price range: $45 634 - $118 422 (as of August 5, 2024)
According to LongForecast, the lowest BTC price for 2025 may hover around $45 634, and the highest one may reach $118 422.
| Month | Open, $ | Min–Max, $ | Close, $ |
|---|---|---|---|
| January | 48 071 | 45 634 - 52 504 | 49 069 |
| February | 49 069 | 49 069 - 59 420 | 55 533 |
| March | 55 533 | 55 533 - 68 927 | 64 418 |
| April | 64 418 | 59 912 - 68 930 | 64 421 |
| May | 64 421 | 64 421 - 77 655 | 72 575 |
| June | 72 575 | 72 575 - 84 447 | 78 922 |
| July | 78 922 | 78 922 - 97 959 | 91 550 |
| August | 91 550 | 88 516 - 101 842 | 95 179 |
| September | 95 179 | 91 012 - 104 712 | 97 862 |
| October | 97 862 | 91 938 - 105 778 | 98 858 |
| November | 98 858 | 98 858 - 118 422 | 110 675 |
| December | 110 675 | 104 705 - 120 467 | 112 586 |
CoinPriceForecast
Price range: $57 823 - $60 007 (as of August 5, 2024)
CoinPriceForecast predicts that the Bitcoin price will trade around $57 823 in mid-2025 and around $60 007 in December 2025. Although the growth is forecasted, the overall circumstances are not favorable for Bitcoin.
| Year | Mid-Year, $ | Year-End, $ |
|---|---|---|
| 2025 | 57 823 | 60 007 |
BitcoinWisdom
Price range: $105 794.99 - $132 243.73 (as of August 5, 2024)
According to BitcoinWisdom, the expected average price may hover around $116 374.48 in 2025. The analytics gaze into Bitcoin's future with genuine optimism.
| Year | Minimum, $ | Average, $ | Maximum, $ |
|---|---|---|---|
| 2025 | 105 794.99 | 116 374.48 | 132 243.73 |
Bitcoin Price History
Bitcoin is a decentralized cryptocurrency. The protocol was launched on January 3, 2009. However, for a long time, the BTC was not particularly valuable as a payment means.
The first Bitcoin halving event took place in 2012. At that time, this event did not affect Bitcoin's price much, but in 2013, the BTC was worth more than $22.
The BTCUSD rate was pressed down by the liquidation of the largest crypto exchange of that time, Mt.Gox. Many famous investors have begun to criticize digital currencies. Thus, Warren Buffett called BTC a mirage or a Bitcoin bubble. Many agreed with him. However, everything changed eight years after the launch of BTC.
2017
April. Japanese authorities have passed a law on the legalization of crypto payments.
August. A fork took place, as a result of which, the Bitcoin Cash cryptocurrency appeared — one of the Bitcoin alternatives with a limited block size.
December. The Chicago Mercantile Exchange has launched the BTC futures trading.
As a result of the above events, the BTCUSD rate has increased significantly. Trading in January contracts started at $20,600.
2018
The first crypto winter. Quotes of digital assets had been falling for a long time. The reason was that regulators banned ICO (initial coin offering) and limited the operation of crypto exchanges. In some countries, such as China, digital assets were completely banned. Many blockchain technology projects were forced to close, and the BTCUSD fell below $3,700.
2020
The third halving event happened on May 11. The token price slightly increased. In August, MicroStrategy made a serious investment in Bitcoin. Next, this company would become the largest investor in this cryptocurrency. In December, there was a scandal surrounding Ripple. The US Securities and Exchange Commission (SEC) accused the creators of the coin of illegally issuing securities in the form of XRP tokens. The case ended in favor of the SEC. This event seriously affected the entire crypto industry. 2020 also saw a DeFi boom, but at the end of the year, the cryptocurrency market collapsed amid the COVID-19 pandemic.
2021
2021 saw many important events in the history of Bitcoin's price. The most significant investment was from Tesla. In February, investments in the amount of $1.5 billion became known, which gave the coin significant weight. In May, China increased pressure on Bitcoin miners, and many of them moved to the USA. In September, the BTC cryptocurrency was recognized as an official means of payment in El Salvador. As a result, on November 10, Bitcoin's price reached a new maximum of $68,789, and the capitalization of the crypto market exceeded $3 trillion for the first time.
2022
The crisis occurred again, and the BTC rate dropped to $15,000. This was influenced by many factors. First, the Terra blockchain crashed, and then Tesla sold 75% of its bitcoins. A little later, one of the largest cryptocurrency exchanges, FTX, went bankrupt. The SEC also continued to increase its pressure on cryptocurrencies.
2023
2023 became a period of crypto market recovery, albeit incomplete. Most crypto assets, including Bitcoin, began to recover in value after the collapse in 2022. The market capitalization more than doubled in 12 months, from $830 billion to the current $1.735 trillion.
A significant event was the bankruptcy of America's Silicon Valley Bank. The bank was one of the leading lenders to tech startups. Ripple's litigation against the SEC was partially resolved in favor of Ripple, which gave an additional impetus to the growth of cryptocurrencies.
Bitcoin Price Predictions 2026–2029
Analysts have prepared a Bitcoin price prediction until 2029. The general estimate suggests that the coin will steadily grow in value.
Changelly
Changelly provides an extremely optimistic forecast, which should be viewed with skepticism.
| Year | Minimum, $ | Average, $ | Maximum, $ |
|---|---|---|---|
| 2026 | 131 426.13 | 135 157.04 | 156 371.92 |
| 2027 | 182 408.88 | 188 665.67 | 229 991.25 |
| 2028 | 257 128.79 | 266 561.67 | 316 444.33 |
| 2029 | 377 386.04 | 390 713.96 | 451 587.13 |
PricePrediction
PricePrediction also believes in Bincoin's strong bullish potential. It is noted that the price may exceed $500 000 by 2029.
| Year | Minimum, $ | Average, $ | Maximum, $ |
|---|---|---|---|
| 2026 | 152 766 | 157 135 | 182 998 |
| 2027 | 207 525 | 215 381 | 269 797 |
| 2028 | 299 149 | 309 918 | 355 974 |
| 2029 | 443 656 | 459 152 | 532 574 |
CoinPriceForecast
CoinPriceForecast predicts that Bitcoin growth will slow down in the coming years.
| Year | Mid-Year, $ | Year-End, $ |
| 2026 | 73 509 | 86 741 |
| 2027 | 99 752 | 86 927 |
| 2028 | 90 598 | 99 658 |
| 2029 | 108 627 | 113 889 |
BitcoinWisdom
BitcoinWisdom's Bitcoin forecast for the next few years looks optimistic.
| Year | Minimum, $ | Average, $ | Maximum, $ |
| 2026 | 158 483.77 | 169 049.36 | 184 897.73 |
| 2027 | 211 311.70 | 221 877.28 | 237 725.66 |
| 2028 | 264 139.62 | 274 705.21 | 290 553.58 |
| 2029 | 316 967.54 | 327 533.13 | 343 381.51 |
Bitcoin Price Prediction for 2030
Very few expert platforms provide forecasts for the BTC exchange rate for 2030. However, the expectations differ significantly.
Changelly
Price range: $462 351.08 - $764 961 (as of August 5, 2024)
Changelly provides the most detailed BTC exchange rate forecast for 2030. Their expectations are bullish: by the end of the year the token price may surpass $700 000.
| Year | Minimum, $ | Average, $ | Maximum, $ |
| January | 462 351.08 | 478 084.25 | 551 891 |
| February | 481 090.17 | 497 062.50 | 571 261 |
| March | 499 829.25 | 516 040.75 | 590 631 |
| April | 518 568.33 | 535 019 | 610 001 |
| May | 537 307.42 | 553 997.25 | 629 371 |
| June | 556 046.50 | 572 975.50 | 648 741 |
| July | 574 785.58 | 591 953.75 | 668 111 |
| August | 593 524.67 | 610 932 | 687 481 |
| September | $612 263.75 | 629 910.25 | 706 851 |
| October | 631 002.83 | 648 888.50 | 726 221 |
| November | 649 741.92 | 667 866.75 | 745 591 |
| December | 668 481 | 686 845 | 764 961 |
PricePrediction
Price range: $440 785.52 - $765 037.86 (as of August 5, 2024)
The PricePrediction portal offers a similar forecast, expecting steady growth.
| Month | Minimum, $ | Average, $ | Maximum, $ |
|---|---|---|---|
| January | 440 785.52 | 482 109.16 | 495 883.71 |
| February | 478 206.37 | 496 572.44 | 515 168.08 |
| March | 488 512.03 | 511 469.61 | 535 030.97 |
| April | 508 970.82 | 531 928.40 | 555 489.76 |
| May | 524 928.67 | 547 886.25 | 576 766.89 |
| June | 541 365.26 | 564 322.83 | 598 682.34 |
| July | 558 294.94 | 581 252.52 | 621 255.26 |
| August | 581 545.04 | 604 502.62 | 644 505.36 |
| September | 604 271.64 | 622 637.70 | 674 730.49 |
| October | 629 177.14 | 647 543.21 | 699 636.00 |
| November | 642 128.01 | 660 494.07 | 732 013.16 |
| December | 668 547.77 | 686 913.83 | 765 037.86 |
CoinPriceForecast
Price range: $185,073 – $205,630 (as of August 5, 2024)
While the other analysts expect the token to take $700 000 high, CoinPriceForecast, although predicting growth, is significantly more pessimistic on the matter. According to the portal, the Bitcoin price will reach $116 400 by mid-2030, rising to $117 252 by the end of the year.
| Year | Mid-Year, $ | Year-End, $ |
|---|---|---|
| 2030 | 116 400 | 117 252 |
BitcoinWisdom
Price range: $371 176.38 - $397 688.98 (as of August 5, 2024)
BitcoinWisdom predicts that the lowest price will drop to $371 176.38, the average price will reach $381 781.42, and the highest price will rise to $397 688.98 in 2030.
| Year | Minimum, $ | Average, $ | Maximum, $ |
|---|---|---|---|
| 2030 | 371 176.38 | 381 781.42 | 397 688.98 |
Bitcoin Price Prediction 2040
Quite a few expert sources provide the Bitcoin price prediction for 2040. Binance suggests a price of $138,701.86 by 2040. However, if you pay attention to other factors, such as halving and increasing mining energy costs, you can assume sustainable long-term growth.
Source: Arcane research.
Source: Arcane research.
The next halving will take place in 2040. As a result, the block reward will be only 0.195 Bitcoin, and the commission will reach 67%. That is, the reward for Bitcoin mining will be very small. The balance of circulating supply and demand will change, and by 2040, the price of a coin could rise to $2 million.
According to calculations by Arcane Research, network energy consumption will increase ten times and amount to 894 TWh. All this allows us to believe that the cost of BTC will grow rapidly from halving to halving.
Source: Arcane research.
Bitcoin price prediction 2050
It is now almost impossible to find out the Bitcoin price prediction for 2050 — analysts are not willing to provide such estimates. Bitcoin, as a pioneer among cryptocurrencies, has attracted the attention of not only crypto investors but also regulators. Considering the pressure the SEC and the Federal Reserve are putting on the crypto market, it is currently difficult to even imagine the future price of Bitcoin or provide Bitcoin price predictions.
If we ignore the influence of regulatory authorities and consider the scenario with a linear price increase from halving to halving, then the BTC rate can reach incredible levels. Only time will tell what the Bitcoin value will be in the distant future of Bitcoin.
How to Predict Bitcoin Price?
When making Bitcoin future predictions, you should consider numerous factors. A huge number of factors influence the price of BTC. First of all, the actions of major players in the cryptocurrency, including the Bitcoin market, as well as the general state of the crypto industry. Also, the cost of the token depends on global events, such as a pandemic, and the actions of regulators.
The main advice is to follow the news of the cryptocurrency industry and public statements of famous investors, for example, Elon Musk. It is also worth closely monitoring the state of the energy sector; mining is rather expensive.
Technical analysis, along with Bitcoin news prediction, is also important in BTC forecast, as well as fundamental factors. The BTCUSD is a highly volatile asset, and you must consider these risks when trading.
Is Bitcoin a Good Investment?
Regulators and economic factors are putting pressure on the cryptocurrency market. Due to its high volatility, consider risks carefully before making any trading decisions.
Nevertheless, Bitcoin is a good investment. Despite the significant risks, the potential profit is very high. Therefore, consider adding Bitcoin to your investment portfolio.
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FAQs on Bitcoin Price Prediction
The BTC current price is 57 676.00 USD.
Bitcoin may reach $85,104.89 by the end of 2024. However, the price may also exceed the $100,230.35 mark.
According to conservative estimates, most analysts predict Bitcoin will hover around $60 905 - $78 943.37 by 2025. The potential for BTC growth is very high. Thus, expect the coin to reach $132 243.73 and above.
In 2030, Bitcoin is expected to be worth $765 000. Nevertheless, remember that the cryptocurrency market is highly volatile. These predictions are provided for informational purposes only and are approximate.
Some analysts believe that the BTC value may reach $2 000 000 by 2040.
At the moment, the Bitcoin outlook looks relatively neutral. However, it definitely has a huge growth potential. Your investment will likely yield significant returns if there are no unforeseen circumstances.
According to moderately optimistic estimates, Bitcoin will grow by about 114% between the end of 2024 and the beginning of March 2025. However, the price may also rise to 190%.
The cryptocurrency market is highly volatile. The trend may reverse after the release of any news. However, this scenario is unlikely at the moment.
The coin definitely has prospects for development. As practice shows, more and more users are interested in cryptoassets. Investments in this sector reach incredible values. Even the most skeptical experts have to admit that digital assets have become deeply rooted in our society. As a result, discussions about regulating the market are becoming more frequent.
It is quite difficult to predict how much Bitcoin will be worth in 10 years due to the highly unpredictable nature of the cryptocurrency market. If the current growth trends continue, the price may trade around $300 000 – $400 000.
Price chart of BTCUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.
