Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

Mar 1 • 2020
Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

Bitcoin is a decentralized financial technology that could replace fiat currencies across the globe. Because it holds such potential, Bitcoin price predictions reach as much as $1M.

 

Intro

Bitcoin is the first cryptocurrency to ever be created, sparking the birth of an entire industry and thousands upon thousands of altcoins to be created in its image.

Not only is Bitcoin the first of its kind, but it has been designed to disrupt and replace paper-based fiat currencies to become the global digital currency used by the entire population, regardless of what country or region they live in.

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

Because Bitcoin is so powerful and has so much potential, Bitcoin’s projected value and estimated growth could be astronomical. Speculation from crypto analysts and industry experts suggests that Bitcoin’s long term value could reach over $100,000 to as much as one million dollars per BTC in the future.

But when will Bitcoin reach such prices? This BTC price prediction guide will help investors answer questions like “how high will Bitcoin go” and “what could Bitcoin be worth in 10 years.”

 

What is Bitcoin and Why is Bitcoin Going Up?

Bitcoin was created by the mysterious Satoshi Nakamoto to be the first peer-to-peer electronic cash system. Because Bitcoin is peer-to-peer, it is considered decentralized and doesn’t require a controlling third party – such as a bank or government – to confirm or monitor transactions.

Instead, Bitcoin transactions are confirmed by miners who are rewarded with BTC for each block that is verified and added to the blockchain. This reward is what incentivizes miners to continue to confirm transactions and keep the Bitcoin network growing.

Every four years, Bitcoin’s block reward is reduced in half, resulting in miners receiving less and less BTC as time goes on. This is referred to by the crypto industry as a halving.

Bitcoin’s supply is hard-capped at 21 million BTC and combined with each block halving, gives Bitcoin a deflationary aspect and provides the asset with a scarcity similar to gold. In fact, Bitcoin has been commonly referred to as digital gold.

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

These unique properties are said to make Bitcoin not only a borderless transactional currency, but also a store of value, and even a safe haven asset during times of economic crisis.

Bitcoin was designed by Satoshi Nakamoto in the wake of the 2008 economic crisis, as a way to put power and control back into the hands of users and out of the reach from banks and governments that have long controlled the flow of money.

Together, all of these aspects make Bitcoin an incredible financial technology with the potential to change the world. And as a result, Bitcoin projected growth is expected to be substantial and reflect its true value as a global currency.

 

The History of Bitcoin Price Action

Bitcoin price today is trading at around $10,000, but given how volatile the asset is and its propensity to go on parabolic runs, Bitcoin price tomorrow could double or set a new all-time high.

Bitcoin started off its life virtually worthless, with a value of far less than a penny when the Bitcoin Core client code was released into the wild. Years later, it began trading at over $1,000 and started to be considered as a serious financial asset with long term potential.

In 2017, Bitcoin potential took the world by storm, as many became rich beyond their wildest dreams once Bitcoin reached its all-time high of $20,000 per BTC coin. Mainstream media ran BTC news story after story, causing retail investors to rush into buying the asset.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

But once 2018 hit, a major Bitcoin trend change occurred, and the price started going down. Due to how volatile Bitcoin is, market price retraced as much as 80% down to $3,000 where it eventually bottomed, leaving many wondering “will Bitcoin go up in value ever again?” Others knew Bitcoin will rise again, and opened long positions at the bear market bottom.

At the start of 2019, Bitcoin growth returned once again, and a powerful rally took Bitcoin price back out of the bear market lows, and above $10,000 where it is currently consolidating before making another attempt at setting a new all-time high, and reaching some of the lower BTC price predictions that analysts expect to reach in the short-term.

At the start of 2019, Bitcoin growth returned once again, and a powerful rally took Bitcoin price back out of the bear market lows, and above $10,000 to $14,000 before falling back down to $6,500.

As soon as 2020 started, Bitcoin took off from its lows and with the cryptocurrency’s halving likely having a dramatic impact on its supply and demand, prices could reach incredible valuations in the coming months and years ahead.

 

Experts Share Their Thoughts on Bitcoin Future

Bitcoin is among the most powerful technologies to ever exist and is possibly even more powerful than the internet itself due to its potential to disrupt the current financial market and replace money altogether. As such, Bitcoin has garnered the support of multiple industry experts who have shared their Bitcoin price predictions.

 

Tim Draper, American Venture Capitalist

Famous investors and venture capitalist, who has had a hand in startups like Tesla, Skype, Twitter, Twitch, and Coinbase, predicts Bitcoin price to reach $250,000 per BTC token in the future, and even finds that number conservative. Draper explained that “$250,000 means that bitcoin would then have about a 5% market share of the currency world and I think that may be understating the power of bitcoin.”

 

Phillip Nunn, ICO and Cryptocurrency Expert

Phillip Nunn, a renowned ICO and cryptocurrency expert, predicted that Bitcoin will fall as low as $6,000 and rise as high as $60,000. With $6,000 out of the way, the only Bitcoin price prediction left in his range is $60,000. Despite reaching the low end of his prediction, Nunn stands by his claims, saying that “we are moving from depending on the internet of information to depending on the internet of value. Everything will be disrupted from record-keeping, financial issues, to legal issues. This is why I will continue to stand by my prediction.”

 

Max Keiser, American Broadcaster and Filmmaker

The outspoken Max Keiser, host of the financial program the Keiser Report, has repeatedly shared predictions on Bitcoin price ranging from $28,000 to as much as “$100,000 and beyond.

 

John McAfee, Cyber Security Expert

John McAfee, the father of antivirus software is also a major proponent of cryptocurrencies and the entire industry itself. He also believes in the future of Bitcoin and has predicted that Bitcoin will reach $1,000,000 per BTC by the year 2020. He even recently doubled down on his prediction, saying “Bitcoin is at the mid 10’s and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at the past few months FFS! It’s rising drastically. I’m still positive about my $1 mil BTC price by the end of 2020. Alt coins like MTC and Apollo will rise ten times more.”

 

Cameron Winklevoss, Co-Founder Gemini Exchange

Cameron Winklevoss, one-half of the Winklevoss twins of Facebook fame, believes that Bitcoin price will one day reach $40,000 or more per BTC. What’s incredible is Cameron Winklevoss made the prediction as part of an AMA back in 2013 and has since witnessed Bitcoin reach the halfway point in 2017. Cameron and Tyler Winklevoss own one of the largest holdings of Bitcoin in the world and have heavily bet on the crypto asset becoming the future of money. Cameron said that the “bull case scenario for Bitcoin is a 400bn USD market cap, so 40,000 USD a coin, but I believe it could be much larger. When this will happen, if it happens, I don’t know, but if it happens, it will probably happen much faster than anyone imagines.”

 

Sam Doctor, Fundstrat Strategist

Quantamental strategist Sam Doctor has produced a detailed report based on his Bitcoin analysis for Tom Lee’s Fundstrat Global Advisors, and in the report, he states that Bitcoin could range between $20,000 and $64,000, and would reach $36,000 before the year is over. ”

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

Technical Analysis-Based Bitcoin Forecast

Based on the predictions of industry experts and big-name investors, its easy to see that Bitcoin growth could be enormous considering current prices of $10,000. However, how and when Bitcoin price will reach such lofty predictions is unclear. Crypto analysts often perform technical analysis in order to predict price movements and when they may occur. We’ve gathered some of the best technical analysis from the industry’s best analysts in order to further help understand how high Bitcoin can go.

 

Bitcoin Price Prediction 2020

The most important factor influencing Bitcoin’s price in the short term, will be the asset’s halving. However, it will have long-term implications.

The halving is a hard-coded event where the block reward miners receive is cut in half. This throws off the delicate balance of supply and demand, causing the scarce asset’s price to spike.

Across the last two time’s Bitcoin’s halving occurred, it was followed by an average gain of over 6,000%. However, each new all-time high peak reaches a smaller percentage.

The last bull market that started at the halving, rose from that point by as much as 3,000% to its peak. The previous rise was 9,000%. If each new peak is reduced by a third, the next top could be 1,000% gain from current levels.

In the short term, Bitcoin is nearly 80% complete in forming a massive, multi-month inverse head and shoulders – which is typically a bottom formation.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

The target of the technical structure would suggest Bitcoin could reach as high as $17,000 in the short-term – before the end of 2020.

Data suggests that as time goes by, the chance of Bitcoin setting a new all-time high increases. This rate rises from 6% in June to 10% in September and rises from there on out.

However, if the pattern fails to complete and support breaks down, Bitcoin could head back down to $5,000.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

Such a breakdown would put an end to Bitcoin’s long-term logarithmic growth curve. This scenario is unlikely, and would signal that Bitcoin adoption is slowing and could mean the end of the crypto asset.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

Alan Masters, another industry analyst, sees Bitcoin reaching as much as $48,000+ in 2020 after the halving, according to a chart shared on TradingView with his most recent short-term analysis.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

Bitcoin Price Prediction 2021 – 2022

By zooming out and/or using the logarithmic growth curve and other tools, we can further predict future price movements in the asset.

Because Bitcoin’s performance is tied so tightly to its halving, it is best to start any analysis with the significant event.

When taking the price action following the first halving, and applying it to the current cycle, we can get our first theoretical peak and price prediction.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

In the first model, it provides a best-case scenario prediction for Bitcoin, at nearly a million dollars per BTC. However, this would require a complete collapse of the current monetary system and for all of the world’s wealth to flow into Bitcoin. While a scenario is plausible and possible, it is likely too soon for this to occur in 2021 or 2022.

This next model is a far more reasonable $250,000 per BTC, among the highest ends of its predictions, but still well within expectations.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

Throughout Bitcoin’s history, it has followed a logarithmic adoption growth and adoption curve. The asset continues to follow it to this day, and it acts as a floor and a ceiling for Bitcoin’s tops and bottoms.

The asset has been grinding along the bottom of the curve for nearly two years now, and it will peak in the red zone when it finally breaks through the yellow zone.

By projecting the top of the curve forward into time, we can find a more likely potential price prediction and peak for the next two years.

Data suggests that Bitcoin tends to top or bottom in mid-December, so using the next two mid-Decembers as potential top points, we can find a price prediction for 2021 and 2022.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

A top in 2021 puts Bitcoin at over $100,000, while a peak in 2022 instead would make the top closer to $170,000 BTC.

The bottom of the green band suggests that Bitcoin shouldn’t go lower than $15,000 in 2021 nor will it go under $25,000 in 2022.

Another take on Bitcoin comes from trader JeremyLuce, who projects $90K BTC by the year 2021 and 2022. This is all after final retest of long-term support and a breakout above at resistance.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

 

Bitcoin Price Prediction 2023 – 2025

Using similar data to make our 2021 and 2022 models, we can predict price action in 2023, 2024, 2025 and beyond.

Bitcoin’s ultimate goal is to reach $1,000,000 per BTC. It can do so much later in its lifecycle, but according to the logarithmic growth curve, the asset will likely top out around $100,000 or higher in 2021 or 2022. Following that peak, Bitcoin will head into another bear market, falling back to prices near $35,000.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

This most likely occurs in late 2022, and Bitcoin finds a new bottom well into 2023.

After the cryptocurrency rebounds, it will spend 2024 in a new bull market. But the bull market extends into 2025 where it will find another peak at above $400,000 per BTC.

The cycle will then repeat once again.

Conclusion: BTC Price Forecast and Long-Term Price Predictions

Considering all of the massive price projections and forecasts from industry experts that suggest Bitcoin will someday replace all currencies across the globe, it’s easy to see what so many are bullish on Bitcoin, and why Bitcoin price predictions can reach such high numbers, ranging from thousands to even over $1 million dollars per BTC.

The revolutionary technology has sparked an entire industry aimed at disrupting traditional finance, and cryptocurrencies are already well on their way to widespread adoption and regular use by the mainstream public.

 

Bitcoin Price Prediction | Will Bitcoin Rise Once Again?

 

Bitcoin is accepted most places these days, and can even be purchased at grocery stores through Coinstar machines. Bitcoin has already come such a far way and even became a media sensation in 2017 thanks to stories of early investors in the crypto asset becoming rich.

However, given the price predictions in this article, it’s never too late to invest in or trade Bitcoin and take advantage of its volatility.

The below prediction chart outlines some of the minimum and maximum BTC price forecasts offered by technical analysts and industry experts in an easy to digest format.

Year High Low
2020 $48,000 $6,800
2021 $81,000 $17,000
2022 $125,000 $125,000
2023-2025+ $1,000,000 $35,000

Give the lows and highs in recent years, as well as the lows and highs predicted by industry analysts and experts, it’s easy to see how opening a short or long position using 100x leverage to trade Bitcoin’s volatile price swings can be extremely profitable, and even more profitable than investing itself.

Traders can take advantage of such tools provided by trading platforms like PrimeXBT, and open positions with up to 100x leverage on the BTC/USD pair. BTC is also paired with other altcoins such as Ethereum, Litecoin, Ripple, and EOS. PrimeXBT also offers traditional assets such as the most popular forex currencies, commodities, stock indices, and spot contracts for gold and silver.

With Bitcoin about to take off on yet another bull run, the opportunity to profit has never been greater. And with Bitcoin price expected to reach $100,000 to as much as $1 million per BTC, it’s never too late to get started trading Bitcoin.

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