What is Bitcoin (BTC)?

Bitcoin, also known as BTC, was the first-ever cryptocurrency. BTC is a crypto with future potential, but its market price can fluctuate considerably. Before we can make a Bitcoin price prediction, it's helpful to do a BTC/USD analysis to know how it works.

Bitcoin was created in 2009 based on a white paper published by the mysterious Satoshi Nakamoto. Bitcoin is still the world's largest cryptocurrency by market cap, followed by Ethereum and Ripple. In this article, 'Bitcoin', with a capital 'B', refers to the technology or the currency as a whole; 'bitcoin' and BTC refer to units of the currency.

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Bitcoin's key attributes are as follows:

1. Bitcoin is a decentralised digital currency.
2. Transactions are verified on the blockchain.
3. A finite amount of BTC is released into the market through mining.

Bitcoin is a decentralised digital currency outside the control of any central bank or authority. Every bitcoin (the unit) is a secure block of data that can be sent from user to user on the peer-to-peer Bitcoin network without passing through an intermediary.

Transactions are verified by network nodes through advanced cryptography and recorded in a publicly available distributed ledger called a blockchain. Solving this cryptography requires computers, which is where mining comes in.

Before a bitcoin can be spent, it has to be generated through a process called mining, an activity in which people provide processing power from their computers to the distributed network that generates new blocks of data for the blockchain. As a reward, miners receive several bitcoins. The total amount of possible BTC is limited by design, so they're mined from a finite reserve, just like gold.

BTC/USD analysis

Before we can make a Bitcoin prediction or BTC/USD forecast, it's crucial to bear in mind Bitcoin's finite reserve. After 21 million bitcoins are generated, no more can be mined.

An analysis of current trends predicts that the last whole bitcoin will be mined in the 2040s, but fractions of coins will still be awarded to miners. Once all bitcoins are mined, the value of the cryptocurrency and Bitcoin's highest pricewill depend entirely on supply and demand.

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BTC's price history

The price of Bitcoin has seen many changes. In 2010, a single bitcoin was worth less than $0.25. Over time, Bitcoin grew from an obscure tech topic into a mainstream phenomenon as businesses started to take notice.

In November 2017, Bitcoin's price surged to over $11,000 and reached an all-time high of around $20,000 the following month. Bitcoin's highest price remained until December 2020, when its price tipped over that to create a new high at just a few dollars higher. Now, (as of late November 2023) Bitcoin's price is currently above $37,000, and those who got into BTC/USD investing early and held onto it have enjoyed a massive return on their investment.

BTC/USDT price chart

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BTC technical analysis

To make Bitcoin's future price predictions, we need to understand its past changes. We start with a BTC/USD analysis from that 2017 price surge to Bitcoin's price today before moving on to future predictions for Bitcoin. For comparison, this is the status of Bitcoin at the time of writing:

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Bitcoin crypto coin price prediction 2017

Bitcoin had a big year in 2017. On 18 December, it reached an all-time high of around $20,000. Because Bitcoin exchanges recorded different prices, there is some discussion about whether the number was just over or just under $20K.

The 2017 Bitcoin price rally is attributed mainly to speculation as the mainstream began to take notice of the cryptocurrency. Investors were rushing to ICOs, which lifted Bitcoin and other cryptocurrencies like Ethereum to record high prices. Bitcoin's cryptocurrency market cap dropped by about 33% due to this surge in interest in the broader cryptocurrency market, but the first crypto coin would soon regain its position.

Bitcoin crypto coin price prediction 2018

After 2017, 2018 was a year of correction. Anyone making Bitcoin futureprice predictions for December 2018 had to take into account that there would be a backlash after the initial rush to buy Bitcoin.

The cryptocurrency began to attract criticism, and there was discussion about regulation or bans by governments. The bear market drove down the price of Bitcoin in 2018 to $3,200 by mid-December.

Bitcoin crypto coin price prediction 2019

After spending 2018 getting mauled by the bears, Bitcoin went through a period of recuperation in 2019. The first cryptocurrency regained over 65% of its market share and rose in price until June, when it reached its 2019 high of $13,275.

Bitcoin crypto coin price prediction 2020

The year 2020 will go down in history as one of the worst years for the financial market. After the pandemic hit, the global market was in chaos, and most assets across all classes crashed. While that was understandably distressing, it didn't last long. BTC's price recovered unexpectedly quickly, and by the end of 2020, it was trading higher than it opened the year at $28,990.

Bitcoin crypto coin price prediction 2021

Following the bullish trend that ended the previous year, Bitcoin continued higher for a couple of days before it peaked at $42,000 before correcting heavily below $30,000. In February, the correction ended, and BTC continued going higher until it reached a new all-time high at $69,000 in November.

Bitcoin crypto coin price prediction 2022

Many Bitcoin enthusiasts now consider 2022 to be the worst year yet for their favourite cryptocurrency. After the price surge in 2021 that saw Bitcoin reach a new all-time high at $68,789.63, BTC has traded downwards, losing more than 60% of the accumulated gains in 2022 alone.

Bitcoin crypto coin price prediction 2023

Based on the Digital Coin Price's Bitcoin future price predictionsfor 2023, it is anticipated that the minimum value of Bitcoin will be $31,174.19 by the end of 2023. As for the upper limit, BTC's price has the potential to surge up to $81,467.95. The average trading price, on the other hand, is projected to hover around $49,344.38.

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Bitcoin (BTC) future price predictions for 2023, 2024, 2025, 2030 and 2040

In 2020, Bitcoin made headlines all over the world when it took out Bitcoin's highestprice in December. As expected, the $20,000 region acted as resistance, and the price corrected sharply to $17,000 immediately after poking it. At that point, the world was on its toes in anticipation of the next bull run, and it wasn't disappointed. Bitcoin shattered the new resistance and traded rapidly upwards into 2021. In November 2021, the crypto reached a new level for Bitcoin's highest price at $69,000.

To get an overview of Bitcoin future price predictions, we'll look at the latest views of the most famous traders, business leaders and authors in the crypto space. 

Tom Lee's Bitcoin future price predictions

Tom Lee is a crypto trading expert who worked at JP Morgan before co-founding Fundstrat, where he works as head of research. In a recent interview, he was asked about his thoughts about Bitcoin's price, and he was very optimistic, to say the least. Tom predicts that BTC could be worth as much as $180,000 by April 2024.

I think the demand will be greater than the daily supply of bitcoin, so the clearing price is over $150,000, could even be $180,000 - Lee said.

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Willy Woo's Bitcoin future price predictions

Author and trader Willy Woo claims that Bitcoin is now a mature asset, and he believes BTC's price can reach $100,000 sooner than later. He explains that he doesn't expect the price to consolidate and sell for years as it did after the surges in 2013 and 2017. Writing on Twitter, Woo said that BTC will probably never fall below $30,000 again.

Max Keiser's Bitcoinfuture price predictions

Broadcaster Max Keiser made a Bitcoin crypto coin price prediction in his regular financial analysis show, The Keiser Report, on RT. Much like Tim Draper's forecast, Keiser predicted that BTC's value would go up during and after the coronavirus market crisis, and as we saw, Bitcoin's price did exactly that. 

In 2021, Max was asked for his Bitcoin price prediction. He claimed that BTC's price would pump up 40x, and at the time, Bitcoin was trading at around $50,000.

I predict — and this is not only the ultimate use case but the ultimate irony — that once people realise that they cannot get gold, they'll start flocking en masse into Bitcoin 

According to Keiser, a run on gold by the rich will leave Bitcoin as the most viable haven for many.

In one interview, Keiser quadrupled his BTC price forecast, claiming that the first cryptocurrency would surge to $400K.

I am officially raising my target for Bitcoin — and I first made this prediction when it was $1. I said this could go to $100,000 — I'm raising my official target for the first time in eight years. I'm raising it to $400,000.

Tone Vays' Bitcoinfuture price predictions

Cryptocurrency trader Tone Vays provides almost daily Bitcoin crypto coinprice predictions on Twitter and isn't afraid to criticise the economic orthodoxy from Forbes and the mainstream media.

Vays has also slammed Tim Draper's predictions as "irresponsible". But Vays' future Bitcoin price predictions are optimistic. He forecasts that Bitcoin could reach $200,000 some =time in 2025. Should BTC go higher and rally to $300,000, Vays believes that can happen in late 2025 or early 2026.

Smartereum Bitcoinfuture price prediction for 2023, 2024, 2025, 2030 and 2040

An author at crypto news site Smartereum has suggested that Bitcoin isn't mature enough for traders to claim we've reached a peak. They predicted that Bitcoin would likely hit $500,000 in the next few years but warn that regulations and sentiment may also negatively affect the price.

CryptoPredictions Bitcoin price prediction for 2023, 2024, 2025, 2030 and 2040

CryptoPredictions, a TradingBeasts project that specialises in providing predictions, expects Bitcoin to close at $40,962.558 by the end of November 2023. The projected maximum price for Bitcoin in December is $40,954.918, while the minimum price is estimated at $27,849.344. In January 2024, Bitcoin is predicted to start at $29,792.802 and finish the month at $28,399.831. The maximum forecasted price for Bitcoin in January is $40,941.533, and the minimum price is $27,840.242.

For 2024, the minimum predicted Bitcoin price value is $27,663.554, the maximum is $40,941.533, and the average is $32,630.612. According to the same resource, Bitcoin will average $36,651.740 in 2026.

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WalletInvestor Bitcoin price prediction for 2023, 2024, 2025, 2030 and 2040

According to WalletInvestor's Bitcoin price prediction, the crypto's price will average $36,794.88 at the beginning of December 2023 and close 2023 at $36,945.69. WalletInversor shares a pessimistic Bitcoin price prediction for 2025, estimating the crypto to average only $28,172.15. As for the Bitcoin price prediction for 2028, the resource estimates it to average $3,512.208. 

LongForecast Bitcoin future price prediction for 2023, 2024, 2025, 2030 and 2040

The latest BTC price predictions from LongForecast predict that Bitcoin will close the year at $36,288, which is 4.7% higher than the current price. Here are predicted price ranges for the following years:

LongForecast predicts that in 2024, Bitcoin's price will range between $42,094 and $50,567. This indicates potential volatility in the market, offering both opportunities and risks for investors. 

For 2025, LongForecast anticipates a similar price range for Bitcoin, with a projected range of $53,344 to $43,716. Looking further ahead, LongForecast presents a wider price range for Bitcoin in 2026, spanning from $47,628 to $100,912.

DigitalCoinPrice Bitcoin future price prediction for 2023, 2025, 2030 and 2040

According to DigitalCoinPrice's Bitcoin price prediction for the end of 2023, it is anticipated that the price of Bitcoin will attain a minimum value of $33,973.57. Looking ahead to 2025, projections suggest that the price of BTC will surpass the threshold of $132,181.61. Extending our forecast to 2030, it is expected that Bitcoin will achieve a minimum value of $370,229.43.

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Bitcoin (BTC) overall future value predictions

How high can Bitcoin go?

Bitcoin's value fluctuates more often than fiat currency and by much larger amounts. Although you can exchange BTC for goods and services just like other currencies, Bitcoin's potential to hugely increase in value means that many buy Bitcoin as an investment to trade on the market for a higher price than it was purchased for.

This means that Bitcoin can behave more like stocks than currency. No government can manipulate Bitcoin; only the market can determine its price.

BTC cryptocurrency forecast today

Based on data from 29 November 2023, theBTC/USD forecast today is bullish. There are 29 technical analysis indicators signalling bullish signals, while 2 signal bearish signals. The 200-day Simple Moving Average (SMA) for Bitcoin will rise and reach $31,765by 28 December 2023. 

Additionally, the short-term 50-day SMA is estimated to reach $42,179 by the same date. The RSI value for BTC is 61.59, indicating that the market is in a neutral position. The RSI suggests that the price of BTC will continue to increase.

Increased adoption of digital currencies and blockchain by central banks and financial institutions will no doubt increase interest in Bitcoin, the first cryptocurrency.

The best way to predict Bitcoin's future price is to familiarise yourself with the cryptocurrency market today. StormGain, the crypto trading platform that offers the most generous bonuses for clients, also has an educational programme to prepare traders with the best information about the crypto market.

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