Bitcoin Price Prediction: How High Can Bitcoin Price Go?

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Bitcoin is known to be the first and most valuable cryptocurrency globally. It has matured greatly from being an experiment to becoming one of the hottest topics and tokens in worldwide finance.

The cryptocurrency launched in 2009 and became the leader in the crypto space while having the biggest market capitalization of $874 billion. Bitcoin relies on peer-to-peer technology to operate without a bank or central authority.

Bitcoin has been the subject of criticism, media debates, hypes, criticism, and even government restrictions. However, from El Salvador to India, there have been cases of countries finally adopting it or allowing the blockchain ecosystem to thrive.

Bitcoin is quite volatile, and its price fluctuations affect the global cryptocurrency market. This bitcoin price prediction article provides an expert approach to the coin’s future prices.

What is Bitcoin Price Prediction?

Bitcoin price prediction is the science of making price forecasts using bitcoin’s historical data, trading instruments, trends, and prevailing market conditions. Over the years, crypto price prediction has become an industry trend as existing traders and new entrants are dipping their feet with care to avoid being victims of the market’s volatility.

Most popular $BTC price predictions come from “celebrity experts” whose opinions attract media attention. However, the average crypto enthusiast can also make informed $BTC price predictions by studying the market using reliable technical instruments.

Bitcoin Price Prediction: End of 2021

The CEO of Chainalysis, Michael Gronager, is one of the numerous experts who predicted the price of bitcoin could hit $100,000 by the end of 2021 owing to the prolonged bull run. However, as opposed to their view, Bitcoin peaked at $68,789 in 2021 and closed at $46,306 by the end of the year.

Bitcoin Price Prediction: 2025

The CEO of Nominex Exchange, Pavel Shtikin, predicted that the crypto market will be bullish by 2025, leading to a bitcoin price of $500,000. His view is quite far-reaching compared to the 33 panelists of experts who believe the average bitcoin price prediction for 2025 is $192,800.

The panel, consisting of renowned crypto moguls, such as Fred Kompella, Bilal Hammond, and Daniel Polotsky, were not absolute about their prediction as it varied from their previous forecast for the premier token.

In July 2021, they had predicted $BTC would rise to $265,000 by the end of 2025 and changed it to $206,351 in October 2021. The predictory changes prove that the volatility of the crypto market makes it impossible for anyone to determine the market’s direction accurately.

Bitcoin Price Prediction: 2030

Considering several factors, the 33-experts panel’s bitcoin price prediction for 2030 is $406,400. While this may look ambitious, it’s not impossible, as some other analysts believe that $890,000 is the goal for 2030. However, taking cognizance of the major dump in late 2017, it’s unclear whether bitcoin will maintain a bullish rally as optimists believe. 

Bitcoin Price Prediction: 2040

2040 is a pretty distant year for any accurate bitcoin price prediction. The reason is that blockchain trends must have changed significantly by then. The Metaverse promises to disrupt major service-oriented industries while introducing new technologies.

The speed and scalability limitations of the bitcoin network, if not addressed, could out phase the project or mitigate its dominance. Nonetheless, some experts believe that all things being equal and with the potential rise in global inflation, the $1 million mark won’t be an ambitious bitcoin price prediction for 2040.

BTC Price Prediction: Long Forecast

Our long-term $BTC price prediction is bullish, and we believe the token will continue to break record highs. For a start, once the price surpasses the former all-time high of $68,789, the next major benchmark would be $100,000. We expect this trend to continue, and who knows, bitcoin might eventually get to $1 million per unit, as some enthusiasts believe.

What Was the Bitcoin Price Prediction 2015? 

In a July 2015 interview, Paul Krugman, a renowned American economist, called bitcoin a “bubble” with no “economic relevance.” He said the bubble would pop in no distant time. During this period, bitcoin was trading at around $260 and was not impacted negatively by the negative perspective. It eventually peaked at $430 at the end of 2015.

What Was the Bitcoin Price Prediction 2016?

Co-founder of Global Advisors, Daniel Masters, predicted that the price of bitcoin would hit $1,100 in 2016 signaling the commencement of a bull run in 2017. After the prediction, bitcoin enjoyed a decent rally but peaked at $975.13 on December 29th, 2016.

How to Forecast Bitcoin price?

You can forecast bitcoin prices by studying the coin’s price history. Bitcoin is a volatile asset, rising and falling in response to economic factors. Taking note of these factors and the previous behavior of $BTC, you can use technical trading instruments, including support and resistance, to determine whether the coin will go higher or lower.

What Drives Bitcoin Price or What Affects Bitcoin Price?

Various factors drive Bitcoin price, including demand and supply. Bitcoin has a limited supply of 21 million units, making it scarce by default. As such, it’s not surprising that its price is on the high side. However, its demand depends on the general crypto market price movements, financial and crypto news, and technical analysis based on historical price behaviors.

How Is Bitcoin Price Determined?

Demand and supply determine the price of bitcoin. When the whales, traders, and the rest that make up the crypto market sense or expect an appreciation/depreciation in the value of bitcoin, they decrease/increase their holding of bitcoin, reducing/increasing the demand for it, and hence the price. 

These alternating periods of busts and booms have become a feature of the global cryptocurrency ecosystem. The availability of the coin and competing cryptocurrencies could also determine the price of bitcoin.

Where to Find a Bitcoin Price Index for Short?

You can find a Bitcoin price index on virtually all crypto trading platforms. The index helps you analyze the market to determine whether to long or short $BTC. For instance, Swapzone bitcoin price index links to TradingView, containing several technical analysis instruments for price predictions.

How High Can Bitcoin Price Go?

Experts believe the price of bitcoin can go as high as $100,000 or more, depending on several factors. After hitting its all-time high of $68,789 last year, bitcoin has been struggling to return to that point reducing its chances of hitting the $100,000 as experts earlier forecasted.

When Will Bitcoin’s Price Drop?

The price of bitcoin rises and falls almost every day. A quick refresh on the price chart, and you may not see the exact price you saw a moment ago. However, the price of bitcoin always drops when it breaks the next support region.

Are There Any Anonymous Bitcoin Price Predictions?

Yes. There are several anonymous $BTC price predictions from crypto enthusiasts and perceived experts who don’t want to peg their names to their predictions. While some believe $BTC will go to the moon, others spell doom for the coin.

What’s About FOMO & Bitcoin?

FOMO is the fear of missing out, and it’s one of the major drivers of bitcoin price. It often occurs when an asset’s price rises and enthusiasts start buying, even at high prices, because they believe that the coin will go higher.

Bitcoin generates the highest FOMO in the crypto industry. Being the foremost coin with a market dominance of over 50%, people know that its impact on the market is not in doubt. As such, once a little news goes out in favor of $BTC, FOMO rises, causing people to buy into the coin as fast as possible. Unfortunately, the whales capitalize on this to dump their holdings, forcing the price to crash.

Are There Any Fomo Bitcoin Calculators

Yes. FOMO bitcoin calculators are tools on some crypto-centric websites that show users how much profit they would have made if they had bought $BTC earlier. 

A typical FOMO bitcoin calculator requires users to input a price and date they wished they had bought the coin, and the system will show them their profit in dollars in line with today’s market price. Most times, users get sentimental after using such tools, making wrong trading decisions because of FOMO.

Conclusion

Being a speculative asset, it’s impossible to determine bitcoin’s exact price direction. However, this article has shown the possibilities experts see in the coin and the potential record highs it will hit over the next couple of decades.

How to buy Bitcoin or convert BTC at the best exchange rates?

Now that you have a big picture of Bitcoin on the market, you’ve surely made up your mind about it. Are you buying? Are you exchanging? Swapzone has you covered! Just follow this easy as pie guide:

1. Launch Swapzone on your browser.
2. In the “select pair” tab pick the kind of cryptocurrency and amount you wish to exchange.
3. In the “get up to” section, pick BTC.
4. You will see different BTC coin exchange rate offers from different exchanges.
5. Filter through the different exchange offers by price or transaction time.
6. Once you locate an offer that you want, simply select the offer and click on “exchange”.
7. Enter your correct wallet details and then click on “proceed to exchange”.
8. Wait for the transaction to complete.
9. Once the transaction finalizes, you will receive the BTC coins in your wallet. Simply rate the experience and leave behind an honest review. You’re done! Congrats!

Video Guide

For visual learners, here’s also a video example of how you can get Bitcoin on Swapzone:

If you still have some doubts about the bright future of Bitcoin, you may go for Bitcoin SV (BSV) which is different from Bitcoin only by its block size (128MB) therefore being promising for the future. To learn more about Bitcoin SV and how to exchange BTC to BSV, come here.

Another question: Do you opt for safety and stability? If yes, you may find it useful to learn how to exchange Bitcoin to Tether at the best price instantly.