Bitcoin (BTC) is probably the most famous cryptocurrency in the world that is recognized both inside and outside the crypto community. Many people still feel FOMO (fear-of-missing-out) regarding bitcoin purchase at the end of 2018, when the digital currency price decreased by $3,000. Yet, the crypto market has a highly volatile nature, and the cryptocurrency price can change dramatically within the next few months. As of today, the bitcoin price reached $17,887, and the interest in the crypto market has become more intense.
Changelly has been on the market for over five years now and managed to witness all the essential crypto events. In this article, we are going to provide a bitcoin price prediction for the next several years and try to find whether BTC is a good investment or not. Here we go.
BTC Price Prediction Forecast
It is important to note that price predictions over cryptocurrencies should be seen as recommendations rather than call to action. As we mentioned earlier, the crypto market is incredibly volatile, so that no one will ever tell the exact BTC price for the next several years. However, BTC has been on the market for over a decade, and some experts can provide comprehensive bitcoin predictions based on the currency’s price trend.
In this article, we will observe a range of BTC price predictions provided by different crypto enthusiasts and bitcoin evangelists.
Real-Time Price Chart of Bitcoin Price Changes
Bitcoin Price by Nomics (A Crypto Market Cap Provider)
This November, Bitcoin price fluctuations made users believe that the cryptocurrency could achieve a new all-time-high rate (the previous historical high level was on December 17, 2017, with the price of $20,089 per 1 BTC). The year is not over and, perhaps, BTC can show us its new record at the end of December.
Bitcoin Outlook: Where We Are Now
Bitcoin Price Prediction for 2020
This year is almost over. In this regard, it is interesting to check whether bitcoin price predictions for 2020 came true or not.
LongForecast Bitcoin Price Prediction for 2020
According to LongForecast, Bitcoin price should have varied in the range between $6871-9757 in January. Throughout 2020, the BTC price was supposed to reach $9,306 by December 2020.
DigitalCoinPrice Bitcoin Price Prediction for 2020
According to another price prediction website digitalcoinprice.com, bitcoin price in 2020 was supposed to vary between $18,359 and $42,293. As of December 2020, we can say that this prediction has not met the expectations.
Bitcoin Price Prediction for 2021
It seems that everyone in the world wishes the next year to be better than 2020. We do hope that 2021 can bring the day of crypto mass adoption one step closer to us. This year was definitely the year of decentralized finance (DeFi). The main theme of 2021 (in terms of crypto) is still unknown, but we are sure that the crypto industry will reveal new features and technological solutions. And the major cryptocurrency will take an essential part in its never-ending development.
We will observe the most popular and trusted prie prediction websites in order to compare bitcoin price forecasts for 2021.
DigitalCoinPrice Bitcoin Price Prediction for 2021
DigitalCoinPrice provides quite an optimistic bitcoin price forecast for the next year. According to its algorithm, the BTC price will meet an uptrend, which can be reflected in bitcoin’s value in general. The source predicts the BTC price in 2021 to vary from $37,914.74 and up to $54,238.29. Such a prognosis makes the current BTC price look lucrative for long term investment.
LongForecast Bitcoin Price Prediction for 2021
On the contrary, LongForecast gives a more realistic bitcoin price prediction for 2021. In this regard, LongForecast expects the BTC price to vary from $15,881 up to $33,379 during the year.
Long-Term Bitcoin Price Prediction: 2022-2025
Predicting the price of such a volatile entity as cryptocurrency is quite difficult. However, there are several predictions and opinions about long-term bitcoin price.
DigitalCoinPrice Bitcoin Price Prediction for 2022-2025
The DigitalCoinPrice price predictions tend to be positive (sometimes suspiciously positive). The service provides the following bitcoin price predictions for the next several years. We took the maximum price BTC could gain in 2022-2025
In 2022
1 BTC = $60,345
In 2023
1 BTC = $68,478
In 2024
1 BTC = $50,786
In 2025
1 BTC = $48,019
LongForecast Bitcoin Price Prediction for 2022-2025
LongForecast provides bitcoin price predictions for the next five years. The BTC price forecast is quite positive, but we might meet some decline in bitcoin price in the middle of 2022. The algorithm suggests BTC may cost $18,968 in July 2022, but the price will go up to $30,575 in October. In 2023, bitcoin price might suffer from strong fluctuations, resulting in BTC price decrease – the value of the main cryptocurrency can probably vary from $13,530 to $26,136.
Yet, 2024 can get back the cryptocurrency’s price back to the top. According to the bitcoin price prediction for 2024, the BTC price might gain the mark of $47,132 per coin. 2025 will continue to hold BTC price at a high level. There is a chance bitcoin will cost $46,232 at the beginning of 2025.
Vinny Lingham Price Forecast of Bitcoin
Vinny Lingham, a co-founder of Civic, claims that Bitcoin’s price can range from $100,000 to $1M by 2030.
Tim Draper BTC Price Prediction for 2022
Will Bitcoin keep rising? A billion investor, Tim Draper, says that Bitcoin will hit $250,000 by 2022. According to his words, people would be able to buy coffee for bitcoins in 2021.
John McAfee’s Price Prediction of Bitcoin
Bitcoin is a real shitcoin, said McAfee antivirus creator John McAfee. He wrote that the future lies with altcoins in his Twitter account since they bypass the first cryptocurrency in technical specifications.
Earlier, he abandoned his $1 million forecasts for Bitcoin, calling it a trick to attract new users.
Stephen Perrenod’s BTC Price Prediction
Analyst Stephen Perrenod believes that the assumption of multiple increases in the price of the first cryptocurrency will occur.
In his blog, the expert proposed a new model for calculating the future Bitcoin exchange rate. Unlike the previous ones, it takes into account not only the shortage of coins that will arise due to the limited issue and halving but also their residual supply.
Based on this, the analyst concluded that, with constant demand, Bitcoin would rise in price against the background of diminishing inflation and rise in price to $77,500 within a decade. However, this figure may increase significantly, possibly even up to $100,000 if the value of the US dollar decreases, Perrenod added.
Conclusion: Bitcoin BTC Price Prediction Forecast
We are looking forward to the future, but no one can tell you the exact BTC price even for a week (we predict, but we are no future-tellers). However, all the bitcoin price predictions mentioned above are based on algorithms and mathematical and statistical prediction methods. The current BTC uptrend might last for the next month or might pivot within hours. In this regard, it is vital to be aware of market movements and DYOR (do your own research) before investing in any digital assets.
How Has The Price Of Bitcoin Changed In The Past?
The history of the first cryptocurrency is full of ups and downs. It is important to understand the background of the currency in order to predict its behavior in the future. Let’s take a closer look at the bitcoin value trend over the past ten years.
At the Dawn of Bitcoin
The events that were saturated in 2010 gave an impetus to the first serious growth of bitcoin. It all started with the launch on February 6 of the BitcoinMarket.com crypto exchange, where 1 Bitcoin initially cost $0.003.
This was followed by the first online purchase of a physical product with payment by bitcoins. On May 22, 2010, that same legendary story happened with pizza’s purchase for 10,000 BTC. Jacksonville, Florida resident Laszlo Hanyecz ordered two pizzas from Papa John’s through the Bitcointalk forum, transferring these coins to the user who started the delivery. According to various estimates, at that moment, Hanyecz paid only $25–40 for his order.
A truly significant event took place on July 11. Then Bitcoin was mentioned on the popular news resource Slashdot, which provoked a 10-fold increase in its price over the next five days, from $0.008 to $0.08 for 1 BTC. On the same days (07.17.10), the Mt.Gox exchange was launched, which subsequently was destined to have a fatal influence on the cryptocurrency market repeatedly.
BTC Price Fluctuations in 2011-2012
After the rapid growth to $0.5 and the same rapid decline to $0.15, Bitcoin continued to consolidate in the price range of $0.2-0.3 until the beginning of January 2011. Then the rate continues to move upwards, and on February 9, 1 BTC at the cost of $1.
The growing popularity of Bitcoin facilitates this due to its mention in the Hacker News and Twitter, an increase in the number of miners, as well as the launch of the Darknet site Silk Road, where BTC has become the main payment system.
In mid-April, when an essay was published on Bitcoin in TIME magazine, its course finally broke the $1 mark and rose upwards so that it will never return to it.
On June 2, 1 BTC was already worth $10. Over the next six days, a jerk was made to ~ $32 (June 8). After another four days, the exchange rate again fell to $10 and then jumped sharply to $25.
On June 19, the Mt.Gox crypto exchange was hacked, as a result of which hackers stole and made publicly available data from more than 61 thousand exchange customers.
Despite the relatively small losses, the news about this hack took effect, causing Bitcoin to fluctuate seriously on other exchanges.
Then, in the first week of August, the cost of BTC dropped from $15 to $6. After a quick recovery to $12, the summer Bull run’s correction lasted until November, ending at around $2.5.
For the next year and a half, the price of bitcoin was in the accumulation stage with a gradual increase to $14. The only serious depreciation during this period (from $16 to $7) occurred in August 2012.
Bitcoin in 2013-2016
In mid-January 2013, a new cycle of rapid growth in bitcoin’s cost began, which reached its peak on April 11; for $1 BTC is equal to $266.
The new bull run starts at the same level in early November and by the end of the month. The price of bitcoin reaches $1240. This happens against the backdrop of positive news about the acceptance of tuition at one of the universities in Cyprus in bitcoins. Also, the announced support for Bitcoin payments by Zynga, a giant in the field of online game development, has a positive effect.
Started in late 2013, the corrective downward movement of the course became the longest (at that time) in the history of bitcoin. Cryptocurrency winter lasted 411 days until mid-January 2015. During this time, BTC fell 86% from $1240 to $160.
On February 28, the owner of Mt.Gox, Mark Karpeles, announced at a press conference about the bankruptcy of the exchange and the loss of 744.4 thousand customer bitcoins “due to system deficiencies.” At this point, on the exchange itself, the BTC price dropped to $100.
In early January 2015, the Bitstamp crypto exchange announced the hacking and theft of 19 thousand BTC. At this point, the Bitcoin rate drops to $170, but after the resumption of the work of the exchange, it begins to recover, reaching $300 in late January. Then begins a long period of consolidation in the range of $200-300.
In early August, hackers broke into the Bitfinex exchange and stole 120,000 BTC. The price drops below $500 for a short time, and then, until the end of October, the exchange rate flies around $600.
Then, by the end of the year, steady growth is observed at up to $1,000.
Bitcoin Bull Run in 2017
In early January 2017, the cost of bitcoin for the first time since the end of 2013 reached $1,150 but then fell to $750 during the week. By mid-March, the course is storming new heights, briefly reaching $1,300-1,350. By the end of March, the price of BTC drops to $900, but within a month, it finally breaks the level of $1,350. In the last weeks of May, bitcoin is trading at $2,500-2,600, then adjusted to $1,800, so that in the first decade of June, it comes close to $3,000.
The course growth is facilitated by the rapid increase in the number of network users and bitcoin recognition as a legal tender by many companies and financial institutions around the world. An important role was also played by the opportunity given to BTC holders to receive Bitcoin Cash (BCH) coins for free due to a hard fork on August 1.
Then, on the news of the launch of BTC futures by major US exchanges, almost recoilless rapid growth begins, and on December 7, bitcoin is trading at $16,500.
Correction in 2018
Throughout 2018, a correction of the rapid BTC-bull run of 2017 has been observed. The maximum BTC rate in 2018 was a mark of $17,000. The subsequent fall is again accompanied by a fling of negative news from Korea, where authorities have advocated banning the anonymous trading of cryptocurrencies.
The fall in the rate continues until the beginning of February and reaches a minimum of the 6th day ($6000). Unfortunately, the breakdown of the bearish trend does not occur, and from this mark, the exchange rate rises again and drops to $5,800 by the end of June. Over the next 4.5 months, the Bitcoin chart continues to draw a triangle that has already become obvious to many, with a lower face in the region of $6,000.
After a slight rebound, the price continues to move down and on December 15 reaches an annual minimum of $3,200. Then, within 3 days, the price of bitcoin again returns to the region of $4,200.
Until the beginning of February 2019, the price continued to move in a downward corridor, for which the resistance became the level of $3,300.
On April 2, a breakdown of the level of $4,200 takes place and within a few hours, the price of bitcoin reaches $5,100. Subsequently, the news appears that the reason for this was the purchase by one buyer on several exchanges of 20 thousand bitcoins at once. Many consider this a signal of the return of major players to the market.
The rise of BTC in 2019 happened in June. The highest price was $13,275. The price increase may be due to the launch of bitcoin futures. This type of trading became popular in 2019. Since then, the price of bitcoin has been falling throughout the year.
What Factors Affect The Price Of Bitcoin
There are many factors that might affect the price of bitcoin. The crypto news as well as news outside the world of cryptocurrencies may influence the state of bitcoin’s price. Back in spring 2020, when the whole world was put on quarantine due to the COVID-19 situation, the BTC price decreased together with the rest of the stock market.
Moreover, BTC met its third halving this year. This means that the bitcoin block reward was cut from 12.5 BTC per block to 6.5 BTC per one mined block. Such an important event also has an impact on BTC price. Technically,
Supply and Demand
There are 21,000,000 BTC. The circulating and total bitcoin supplies are the same 18,567,418 BTC (as of December 10, 2020).
Market Competition
Bitcoin is currently the leading cryptocurrency in the industry in terms of market capitalization and monthly volume. The second place by the market cap criteria takes Ethereum (ETH).
By the way, read our Ethereum Price Prediction for 2020-2025.
Key Things of When Trading Bitcoin
Unlike the regular stock market, the crypto market is open 24/7. A trader should do the research to figure out the right time to day trade BTC. For a more comprehensive answer, we suggest you read the article Invest in Bitcoin: how, where and when.
Bitcoin Price Prediction — FAQs
Is Bitcoin a Good Investment?
Considering all the factors mentioned above, the answer to the question – Is bitcoin a good investment? – will be positive. Bitcoin is the first and major cryptocurrency in the industry. Many digital assets are Bitcoin forks, so in that way, BTC will always be a relevant investment option.
What Will Be Bitcoin Worth in 2030?
There is no definitive answer to such a question. According to different bitcoin price prediction services, BTC might gain an all-time-high next year. Consequently, the BTC price will grow and meet the downtrend occasionally. There is a possibility that the BTC price in 2030 will be over $30,000 per coin.
Will Bitcoin Ever Die?
Obviously, there are also two possibilities: BTC will either die or not in the future. The current BTC trend promises a bright future for the first cryptocurrency. However, you never know what brings tomorrow. As of now, it is doubtful that BTC will die in the near future.
How Many Bitcoin Tokens Are Left?
Bitcoin has a maximum supply of 21,000,000 BTC. As of December 10, 2020, there are 18,566,543 BTC in circulation, which means there are 2,433,457 BTC of ‘spare tokens.’
