Since Bitcoin came into use in 2009, this digital currency has been on the tongue more and more and has attracted attention. The reputation of Bitcoin is such that even many people who are not yet familiar with the concept of digital currencies have heard the name of Bitcoin. As we move further into the digital age and make massive advances in this field, our future seems to be tied to the future of Bitcoin's price; A digital currency that puts financial control back in the hands of the people.
The US Securities and Exchange Commission (SEC) has approved the first Bitcoin ETF (Bitcoin ETF) in early 2024, and Bitcoin halving is on its way. As a result, many are faced with this question What is the future of bitcoin price? And in what direction is the price of this digital currency going? Some people still don't have enough trust in an asset that is completely digital and intangible; But at the same time, they see that many have made good profits from investing in Bitcoin. Follow us in the rest of this article to draw the future of Bitcoin from the eyes of experts and get a better insight of its value prediction.
Bitcoin future analysis and price prediction
We may not be able to say exactly what place Bitcoin will hold in the future among people and their everyday finances, but using analyst insights we can estimate where the future Bitcoin price will go in 2024, 2025 and beyond. .
Technopedia analysts believe that Bitcoin price May be up to End of 2024 At A downside scenario to $35,000 And in Bullish scenario to $85,000 reach Forecast of these analysts for the year 2025 This is the first bitcoin to $50,000 decline (slightly above its January 2024 price) to prepare for a new uptrend in 2026 and beyond. In the table below, a summary of Technopedia analysts' forecasts for The future of Bitcoin price until 2030 You are viewing:
| Year | The lowest price | average price | The highest price |
| 2024 | 35,000 | 60,000 | 85,000 |
| 2025 | 50,000 | 65,000 | 80,000 |
| 2026 | 51,000 | 70,500 | 90,000 |
| 2030 | 95,000 | 127,500 | 160,000 |
The end of digital currency winter
Bitcoin finished 2023 strong, and many analysts believe that this marks the end of cryptocurrency winter even before the Bitcoin halving.
As you can see in the Bitcoin price chart, this digital currency held its position above $40,000 from December 2023 entering 2024 and even briefly broke the $45,000 resistance level.
Bitcoin price prediction in 2024
Bitcoin price in 2024 At the best The scenario may be to $85,000 Although some analysts believe that Bitcoin will soon undergo a major price correction. the worst The scenario for this digital currency this year is to reach its support level $35,000 come back
Bitcoin started the new year strong, trading above $45,000 for the first time in two years in January. According to Coinglass, the reasons for this price increase were the pressure of short squeezes, in which more than 133 million dollars were liquidated in 24 hours. Also, another reason for the increase in the price of Bitcoin was the approaching approval of the Bitcoin ETF by the US Securities and Exchange Commission.
Read more: What is Short Squeeze and how to make profit from it?
The factors affecting the price of Bitcoin in 2024 are:
- Bitcoin exchange-traded fund or ETF
- Federal Reserve interest rates and US legislation
- Bitcoin halving
In the following, we will examine each of these factors more carefully.
A tradable fund on the Bitcoin exchange
Analysts estimate that the approval of a Bitcoin ETF will be one of the two main catalysts that will increase the price of Bitcoin and other cryptocurrencies in 2024. Blockchain analysis platform Glassnode also predicts that around $70 billion in new capital will enter the crypto market through new Bitcoin ETFs.
Read more: What is a Bitcoin ETF? Getting to know the exchange-traded fund
Federal Reserve interest rates and US legislation
Expectations are that from a macroeconomic perspective, conditions for Bitcoin will improve in 2024; If the US Federal Reserve cuts interest rates broadly in 2024, it will take pressure off the cryptocurrency market and encourage investment flows into Bitcoin.
At the same time, the possible bill in the United States that will increase the transparency of regulation and supervision of investments in digital currencies in this country will make more investors trust Bitcoin, more Bitcoin buyers and the market will rise.
Bitcoin halving
Also, the prospect of the halving event has a significant impact on the future of Bitcoin price in 2024. Some analysts believe that after the halving, we can see Bitcoin break new records and maybe even hit six figures this year.
Continued optimism about Bitcoin ETFs, the Federal Reserve's interest rate cut, and the approaching halving will make Bitcoin continue to benefit from the positive momentum of the first half of 2024.
Read more: What is Bitcoin halving? What happens after Halving?
Bitcoin price prediction in 2025
Analysts believe that the effects of the Bitcoin halving event will continue until 2025, and if all aspects are coordinated, the price of Bitcoin has the potential to rise from100 thousand dollars go beyond
But what is meant by “all aspects” here?
- Macroeconomics and legislation
- Long-term effects of hawing
Let's take a look at each of these two factors separately.
Macroeconomics and legislation
Macroeconomics is one of these important aspects. If the global economy is doing well and inflation remains low, interest rates could continue to decline. More regulation and oversight of altcoins could also encourage more people to invest in the digital currency market, and in that case, the first asset that investors would confidently hold is Bitcoin.
Read more: What is an altcoin? Know the best Altcoins to invest in
In addition, more regulation of the crypto market and its legislation could cause institutional investors' funds, such as pension funds, to start accepting investments in Bitcoin. This potentially opens the door to trillions of dollars in pension funds that are currently barred from investing in Bitcoin. Currently, Fidelity is the only 401K service or retirement plan in the United States that offers investments in Bitcoin.
Long-term effects of hawing
Meanwhile, there is also a price slump that occurs after all Bitcoin halving events and should be considered. History shows that within a year of a Bitcoin price spike seen as a result of a Bitcoin halving event, the price of Bitcoin has typically halved, and in both of the past two halving events, 75% of Bitcoin's gains were made within two years of the halving. The occurrence of hawing is gone.
If we combine all these factors, we can predict that In 2025, the price of Bitcoin will reach a price floor of $50,000 and a ceiling of $80,000. And it's trying to break the all-important $100,000 milestone.
Bitcoin price prediction in 2030
Analysts expect Bitcoin price will be more stable until 2030 has arrived; With price At least $95,000Price Up to $160,000 and the price Average $127,000. Of course, it should always be kept in mind that due to the newness of digital currency technology and its ever-changing landscape, it is very difficult to predict the price of Bitcoin, especially in the long term.
Looking at the position of Bitcoin in 2030, its price prediction comes with more uncertainty. A lot can happen in 6 years, especially in a fast-growing industry like cryptocurrency. Eight years ago, Bitcoin was worth about $750, and no one would have predicted the current $43,000 price.
The most important factors affecting the price of Bitcoin in 2030 can be considered the following:
- The influence of central bank digital currencies
- Next halving in 2028
In this section, we will have a closer look at these two factors.
The influence of central bank digital currencies
Expectations are that the value of Bitcoin will continue to rise. This rise can also benefit from the growing adoption of Central Bank Digital Currencies (CBDCs) in various countries. People around the world will gradually get used to using central bank digital currencies, and this will make them accept the world of digital currencies and Bitcoin with more confidence.
Next halving in 2028
Until 2030, Bitcoin will go through another halving event in 2028, and this halving will also affect the future prediction of Bitcoin price for 2030.
Probably by then Bitcoin will have grown in popularity and become more widely accepted. The combination of this increase in acceptance and demand, along with the halving event, which reduces the amount of Bitcoin's supply, increases the value of Bitcoin.
Bitcoin history and BTC price trend so far
Bitcoin was launched in 2009 by Satoshi Nakamoto, its anonymous creator or creators. Since its emergence, this digital currency has taken the first place in terms of market value (Market Cap) and its technology led to the emergence of other digital currencies, each of which pursues its own capabilities and goals.
Read more: Who is Satoshi Nakamoto? Who could be the mysterious and anonymous creator of Bitcoin?
Since then, Bitcoin has captivated the world with its price volatility, decentralized nature, and potential to revolutionize finance. Here we review a brief history of the development of Bitcoin.
2008: The emergence of the idea of a technology that changed the world
In the wake of the 2008 financial crisis, the anonymous Satoshi Nakamoto introduced a revolutionary concept to the world by publishing a white paper: “Bitcoin, a peer-to-peer electronic money system that operates independently of central institutions.”
The concept of “decentralized” and “decentralization” also entered the world today in this white paper. Decentralization in financial affairs means that people can transact with each other directly from anywhere in the world without the need to create accounts in banks or centralized financial institutions, without the need for their mediation; Thus, the Bitcoin White Paper laid the foundation for a decentralized and secure network.
Read more: What is a white paper and how to read it?
2009-2010: Launch of the Bitcoin network
With the mining of the first Bitcoin block in 2009, this network was officially created. At that time, the Bitcoin digital currency was not particularly valuable, and its early adopters were more attracted to its anonymity and great potential. Meanwhile, the first Bitcoin transactions took place. However, the early days of Bitcoin were accompanied by extreme price fluctuations, with its value fluctuating between a few cents and a few dollars.
2010-2017: Bitcoin boom and bust
In the following years, Bitcoin experienced periods of explosive growth; It reached one dollar in 2011 and then fell again. Despite security challenges such as the hacking of the Mt. Gox in 2014, more and more fans were attracted to Bitcoin; Because they believed in its potential to transform the global economy and make borderless transactions possible.
2021-2017: Ascent again
By 2017, Bitcoin had caught the attention of the general public. Its price soared to record highs and reached its peak price of nearly $70,000 in 2021. Major companies such as Tesla and PayPal have accepted Bitcoin as an official and legal way to make payments, and even the country of El Salvador has accepted it as legal tender.
2022 until now
2022 was a bearish year for Bitcoin, and compared to the previous year's rise, it fell sharply. However, in 2023, Bitcoin buyers managed to overcome sellers and the upward trend resumed; Of course, accompanied by severe and continuous fluctuations. The price of Bitcoin underwent a significant correction, raising doubts about the stability and long-term viability of this digital currency.
Governments and regulators, on the other hand, have increasingly focused on regulating digital currencies, seeking to balance Bitcoin's potential against its risks. Capitalist giants such as Black Rock have tried and succeeded in getting approval for exchange-traded funds (ETFs) for spot bitcoin trading. These changes, along with waiting for the next Bitcoin halving, caused Bitcoin to experience a price rally at the end of 2023 and enter 2024 strongly.
As Bitcoin continues to gain traction among investors, its future remains uncertain. Will it become the currency for international payments? Or does it become a valuable deposit method like gold? Or maybe something completely different?
Factors affecting the future of Bitcoin
Now that we have seen the opinion of analysts about the possible price of Bitcoin until 2030, let's take a look at the opinion of the experts of the famous platform Forbes (Forbes) about Factors affecting the price of Bitcoin in the future let's throw These factors are divided into two categories: ascending and descending scenarios:
- Bitcoin innovations and next halving (bullish scenario)
- Acceptance of institutional investors (upward scenario)
- Environmental concerns (downsizing scenario)
- Political problems (downsizing scenario)
Bullish scenario
According to senior analyst Nicholas Sciberras, Bitcoin's bullish future depends in part on its strength or weakness in traditional banking frameworks. According to him, “there are serious problems in the global economy as the United States faces a banking crisis and growing debt.”
In 2023, several banks have failed, but many forget that the underlying problem behind these failures still exists. If bank failures continue in 2024, the government may have to step in to provide more stimulus and print more money. This further devalues the US dollar, similar to what happened during the coronavirus pandemic.
In this scenario, Bitcoin's role as a known, decentralized and flexible asset with a fixed supply whose framework does not change easily is accentuated.
Bitcoin innovations
Another reason for Bitcoin's rise could be its recent innovations such as Ordinals protocol and BRC-20 tokens. These innovations have increased the demand for block space in the Bitcoin network, which in turn increases its value.
Read more: What is BRC20 Token? What is the use of the BRC-20 manufacturing standard?
Demand, efficiency, and higher fees for Bitcoin miners could help ease concerns about Bitcoin's long-term security budget. The growing adoption of the Lightning network, Bitcoin's layer 2 network, could also lead to Bitcoin becoming a payment method rather than just a means of depositing and storing asset value.
Read more: What is the Bitcoin Lightning Network? How does Lightning work?
Therefore, if Bitcoin can continue to improve and become more accepted as a payment method, its overall utility will increase and it will become more like money.
Acceptance of institutional investors
In June 2023, BlackRock, the world's largest asset management company, announced plans to launch an exchange-traded fund for Bitcoin. Following that, several other large institutions followed suit. These programs made Bitcoin more accepted among institutional investors and pushed its price to a peak of almost $45,000 in December 2023.
Although Bitcoin has corrected its price since then, the confirmation of spot Bitcoin ETFs is still a key factor affecting the price of Bitcoin in 2024. This not only leads to the purchase of Bitcoin, but also gives significant legitimacy to the digital currency among the public.
Also, the new digital asset reporting rules from the Financial Accounting Standards Board (FASB), which is scheduled to take effect in December 2024, will ease the rules for the security and custody of digital currencies for companies. These new standards will remove some of the obstacles in the way of Bitcoin holding companies.
Downsizing scenario
Every investment has potential downsides, and Bitcoin is no exception. Despite the fact that Bitcoin block rewards will continue to decrease, there are concerns about the long-term security of Bitcoin.
Then there is the controversial issue of Inscriptions on the Bitcoin blockchain. Although we talked about the positive potential of Inscriptions and Ordinals in the bullish scenario, the opinions of members of the Bitcoin community differ greatly on their impact on network performance.
For example, not long ago, Bitcoin developer Luke Dashjr called Inscriptions “spam” and a security flaw in the Bitcoin network, and called for a halt to all Ordinals transactions. Such a difference of opinion in the Bitcoin network can lead to an ideological war among the members of the community and a rift between them, which also affects the value of Bitcoin.
Read more: Ordinals protocol; The entry of NFTs into the Bitcoin network
Environmental concerns
Concerns about the destructive effects of Bitcoin on the environment are another important factor in the downward scenario of the price of Bitcoin. There are constant attacks and criticisms on the harmful environmental effects of Bitcoin, and the White House has proposed a tax of up to 30% for Bitcoin miners in the United States.
If Bitcoin continues to be criticized for its high energy consumption, its price will also be threatened. For example, Europe tried to ban Proof-of-Work (PoW) consensus mechanisms in 2022; Of course, this law was not passed, but Europe is still trying to pass it.
The Proof-of-Work consensus mechanism, unlike the Proof-of-Stake (PoS) consensus mechanism, consumes as much energy as possible to validate blockchain blocks.
Political problems
Fluctuations in sentiment against Bitcoin and digital currencies by governments can also reduce the value of Bitcoin. For example, the United States is incredibly hostile to digital currencies and Bitcoin, and has gone to war with them since last year.
Furthermore, if Bitcoin threatens the monopoly of countries' money and currency due to widespread adoption, governments will naturally restrict its use.
A bill was recently introduced in the US to expand the Bank Secrecy Act and impose stricter reporting requirements for cryptocurrency transactions, which in its current form would cripple the US crypto industry and consequently hurt the value of cryptocurrencies around the world.
Implications of anti-money laundering (AML) and customer identification (KYC) laws also worry investors. Compliance with these rules can be very difficult in the digital currency industry, which has come up with the slogan of decentralization and anonymity in transactions.
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