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What Is the Bitcoin Price Prediction Today
AT A GLANCE
- In 2024, Bitcoin price is expected to go down, hitting as low as $58205.81917337756
- 2025 promises to be turbulent, with prices ranging from $41751.717690296784 to $130567.71702560809, with TradingBeast predicting a breakthrough leading to a price rise to $130567.71702560809
- By 2030, BTC price can hit $58205.81917337756
Bitcoin Fundamental Analysis
Bitcoin is the first decentralized digital currency. It was also the first-ever blockchain network launched back in 2009. The idea behind the project that changed the way we think about digital money forever was to create a network where people can transfer money between each other without any centralized intermediary. It positions itself as an innovative payment network and a new kind of money. Bitcoin can be also used as a store of value, in opposition to traditional assets like silver or gold.
It was launched from an anonymous computer or computers under the pseudonym “Satoshi Nakamoto”. No one really knows the real identity of this person or group of people. Satoshi Nakamoto deployed bitcoin’s original reference implementation, wrote the White paper, and devised the first blockchain database.
Bitcoin uses peer-to-peer technology to perform the transactions avoiding central banks and any other 3rd parties, paying fewer fees, and having more financial freedom even for those people who are usually cut out from the traditional financial institutions. Since the time it was launched Bitcoin has reached much wider massive adoption and even some of the big companies, for example, Micro Strategy or Tesla hold big amounts of the token.
The Bitcoin blockchain network processes transactions according to a Proof-of-Work consensus mechanism and new tokens are added to the blockchain through the process known as “mining”. To do that the computer with a strong GPU needs to solve a complicated mathematical equation to count the transaction input. When it's done the machine can add the block to the chain, receiving newly mined tokens as a reward. Each block contains the information (hash) of the previous block, making it hard to fake the ledger.
Bitcoin crypto, also known as BTC, can have a maximum of 21 million coins, each of them consisting of 100 000 000 satoshis.
Bitcoin Live Price Chart
After the successful crypto rally in spring 2021, when Bitcoin gained a lot of value it went for a massive price correction during the bearish season of summer 2021. It was trading for around $32 000 - $33 000 during the first two months of the summer, but at the end of July, the BTC price started to rise again. Bitcoin kept gaining value until the beginning of September when its price reached $52000. It was followed by 3 weeks of price correction when the value of BTC dropped to around $42000 and even dipped to $40600 on September 21.
That period was highly successful for the price of the main cryptocurrency. Massive crypto adoption and a lot of interest from institutional investors made the token price skyrocket again in the autumn of 2021. It was the rise of crypto and a lot of people bought cryptocurrencies for the first time in their lives. According to a survey by TurboTax, 51% of Americans owning crypto bought them in 2020-2021.
By the end of October, the price of Bitcoin reached almost $66000 then went to a plateau at a level of $60000 and struck again, hitting an all-time high of $68789 on November 10, causing the crypto market cap to reach $2 trillion.
But from that point, the Bitcoin price chart started to decline. Even though there were periods of price stabilization: in the middle of December Bitcoin was trading at around $46, in the beginning of January it stayed at the level of $42000 for almost 2 weeks, and the overall tendency was downward.
At the end of January 2022, Bitcoin dipped to $35000, losing almost all the gains of the previous 6 months. The biggest cryptocurrency then recovered its price and went to a plateau, but stayed very volatile. Until the beginning of May, it was bouncing between $37000 and $47000. And from May 6 it started to drop more significantly, reaching $30000 by May 9. On May 11 it was already trading for $28000. That was a new BTC price level for the next month.
At the beginning of June, the massive sell-off of the cryptocurrencies continued and the price of Bitcoin dropped to a level of 2 years back. Since then it has been trading at around $19000, dipping as low as $17000. Experts see the reason for such a big drop in a short time in a high level of inflation and liquidity concerns. The volatile price of the main cryptocurrency made many investors that entered the market in the last 2 years get rid of the risky assets.
Many market analysts believe that the Bitcoin price still has a place to drop, but in a bigger perspective, it will gain back its value.
Bitcoin Technical Analysis
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Bitcoin Price Prediction
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Bitcoin Price Prediction for 2030
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SwapSpace is a cryptocurrency exchange aggregator that allows to swap over 1800 cryptos with both fixed and floating rates. We gather the rates of major crypto exchanges on the market onscreen and let our users compare and choose whatever option they like the most. We don’t add any fees over the partners’ rates, which makes the exchanges via SwapSpace profitable. The exchange time is no longer than at any of our integrated services starting from 10 minutes. SwapSpace support works 24/7.Exchange Your Crypto Now