Bitcoin needs no introduction, as this disruptive digital currency was the first to break down doors within the crypto market. Over the past few years, the coin’s rise has been exponential, paving the way for thousands of altcoins and crypto projects to carve out a niche.
This guide will discuss our Bitcoin price prediction for both the short and long term, touching on the coin’s utility, its future potential, and where you can invest in BTC today – with low trading fees.
Bitcoin Price Prediction 2023
At the time of writing, the Bitcoin price today is under $23K. After bearish momentum in 2022, the token has revived since the start of 2023. To help provide an overview of BTC’s long-term outlook, presented below is our price forecast for the years ahead:
- End of 2023 – Once the Bitcoin stock price begins a bull run, it can sustain itself for weeks (or even months). With the next halving approaching, Bitcoin could test new highs and trade at $75,000 by the end of 2023.
- End of 2024 – As the coin starts to gain momentum and the lightning network continues to expand, it could continue growing in 2024. The increasing mass adoption could help the king coin reach a peak of $90,000 by the end of 2024.
- End of 2025 – Although some of the best altcoins may develop better utility than Bitcoin over the coming years, this cryptocurrency should retain its ranking due to its ‘first mover’ status. Due to this, our Bitcoin forecast estimates the coin could reach a peak value of $100,000 by the end of 2025.
- End of 2030 – With the rate of crypto adoption showing no signs of slowing, there’s scope for BTC to become more widely accepted by merchants when it comes to paying for goods and services. Should this occur, there’s undoubtedly scope that Bitcoin could surpass the $100,000 level and reach $150,000 by 2030. Some Bitcoin bulls even predict a $1 million BTC in the future.
- End of 2040 – Depending on the adoption by several countries and Bitcoin’s ability to reshape the traditional financial system, more and more users will be attracted to the coin. As a result, it could reach as high as $250,000 by the end of 2040.
Check Out Our #1 Crypto For 2023
|🔵 Coin Name||Bitcoin|
|🔆 Coin Symbol||BTC|
|⏳ Price Change 1h||0.1%|
|🌕 Price Change 24h||2.44%|
|💵 Market Cap||$555,861,535,872|
|🌐 24h Volume||$16,452,365,383|
|🔄 Circulating Supply||19,362,468|
|💰 Total Supply||19,362,468|
Bitcoin (BTC) Price History
As the first cryptocurrency to hit the mainstream, Bitcoin has broken down many walls in the space and created a pathway for other projects to flourish. Although BTC was considered the ‘best’ crypto for a long time, other coins have sprung up that possess appealing use cases that have taken the attention away from Bitcoin. However, many investors still look to buy Bitcoin due to its value potential and low volatility relative to other coins.
In its most basic sense, Bitcoin is a decentralized peer-to-peer (P2P) digital currency that verifies transactions through blockchain technology. This technology is widely used in today’s cryptocurrency market, but back in 2009, when BTC was launched, the concept was alien to most industries.
Bitcoin’s creator, Satoshi Nakamoto, has remained anonymous since publishing his famous whitepaper in 2008, in which he detailed the specifics of how Bitcoin would function. BTC’s first-ever block was mined in early 2009, and the coin immediately began gaining traction from tech-savvy students and programmers. Nakamoto then handed over control of the code to another developer in 2010 and has not been seen or heard from since.
The first recorded BTC price was in July 2010, when the coin began trading at $0.0008. Investors looking to buy cryptocurrency and gain exposure to this new technology helped drive Bitcoin’s price over the following years, seeing BTC’s price hit $250 in 2013. However, it wasn’t until mid-2017 that Bitcoin entered the mainstream.
The price of Bitcoin rose a staggering 2,300% throughout the latter half of 2017, breaching the $19,000 level. A sustained bear market followed this high, which saw Bitcoin lose around 85% of its value. A few sporadic bullish spikes were dotted around during this time frame, although the real movement began in late 2020.
From September 2020 until April 2021, Bitcoin rose by over 540%, hitting a high of $64,700. After a short pullback, the price surged once more, reaching an all-time high of $68,789, according to CoinMarketCap.
In 2023, Bitcoin has provided strong growth. Starting the year at the $16,500 mark, Bitcoin crossed $24K in February. As of March 2023, the token is trading right under the $23K barrier. After growing by 45%, the token corrected by 4.8% in the opening week of March. The correction is due to the recent correction of Silvergate, a global crypto payment network which fell by 50%.
Before we dive into our Bitcoin price prediction, here’s a brief overview of the point discussed thus far:
- Satoshi Nakamoto published his Bitcoin whitepaper in October 2008.
- Bitcoin’s open-source code was officially released in January 2009.
- Bitcoin’s first recorded price was $0.0008 in July 2010.
- Bitcoin hit a high of $19,000 in 2017.
- Following this high, BTC goes on an extended bear run and loses 85% of its value.
- Bitcoin recovers and hits an all-time high of $68,789 in November 2021.
- The token plunged to the $16,500 mark by the end of 2022.
- Currently, Bitcoin is trading right below the $23K mark.
Bitcoin Price Prediction 2023
Looking further ahead, how could the Bitcoin price prediction chart shape up in 2023? As noted earlier, numerous altcoins have launched over the past few years that look to capitalize on Bitcoin’s success. Many of these altcoins have been dubbed ‘superior’ to BTC regarding speed and scalability.
In an objective sense, this does appear to be true. Ethereum is seen by many as the best cryptocurrency to invest in since it uses blockchain technology in a more innovative way than Bitcoin. Furthermore, other networks have also begun moving away from Bitcoin’s ‘Proof-of-Work’ (PoW) consensus to a ‘Proof-of-Stake’ (PoS) algorithm, which is much more scalable and environmentally friendly.
However, even though Bitcoin’s technology may be becoming outdated, the coin is still growing in its adoption worldwide as a payment method. That is why many such price analysis sites see Bitcoin going up in the next year. For instance, CoinCodex estimates that the price of Bitcoin is will reach $30,121, by the end of 2023.
As mentioned above, two developing nations have now adopted Bitcoin as an official currency, and many small businesses also accept Bitcoin as payment for their goods and services.
Bitcoin ATMs have also become popular, allowing users to deposit cash and purchase BTC (or other cryptocurrencies) using a physical kiosk. The bought crypto is then sent to the user’s crypto wallet via QR code, providing a quick and easy way to purchase digital currencies. According to reports, there are now over 30,000 Bitcoin ATMs worldwide.
This pervasiveness should help the currency continue growing over time. Furthermore, many analysts predict that Bitcoin and other cryptocurrencies will only further decouple from traditional market forces, with Bitcoin long branded a potential ‘inflation hedge’ that performs better when economies perform worse.
The next Bitcoin halving is expected to take place in early 2024, and as adoption grows and the halving approaches, a new bull run should emerge, which is why our Bitcoin price prediction for 2023 estimates the coin could test new highs and be worth as much as $75,000 by this point.
Bitcoin Price Prediction 2024
At the time of writing, the Bitcoin price chart doesn’t make for good viewing – yet the coin’s prospects are still positive for the years ahead. One of Bitcoin’s main value drivers heading into 2024 will be the growth of the Lightning Network – Bitcoin’s layer-2 payment protocol.
As stated by Coinbase, the Lightning Network allows users to send and receive BTC quickly and cheaply by moving transactions off of the main blockchain. This allows the core blockchain to run faster and has the added benefit of making Bitcoin payments more appealing.
The popularity of the Lightning Network can already be seen in crypto-friendly El Salvador, which made Bitcoin legal tender in 2021. The El Salvadorian government created a Lightning Network-compatible crypto wallet for its citizens, which made BTC payments more universal.
As individuals and businesses become wise to the power of the Lightning Network, this will help BTC solidify its status as the go-to for digital currency payments. As such, our Bitcoin future price prediction for 2024 sees the coin valued at $90,000.
Bitcoin Price Forecast Long Term Outlook – 2025 Prediction
At the time of writing, the Bitcoin price history chart has shown a sustained downtrend – prompting many to speculate that it could be one of the most undervalued cryptos on the market.
This is because Bitcoin remains the most ‘viable’ option due to its market cap and relatively low volatility when it comes to crypto adoption from institutional investors.
One of the most significant changes that could impact BTC’s price in the years ahead is the long-awaited release of a Bitcoin spot ETF. Although there are now numerous Bitcoin futures ETFs, the SEC has thrown out all proposals for a spot ETF. Their main concern is market manipulation potential, as the crypto market is still relatively unregulated.
However, the previous rejections of spot ETF applications have not deterred financial firms from continuing to try their luck.
Grayscale Investments continues to try and persuade the SEC that now is the time for them to allow these types of investments, whilst other companies (such as Cathie Wood’s ARK Invest) have recently filed applications. If one of these ETFs were allowed to launch, it would provide direct exposure to Bitcoin’s price.
It seems like it’s only a matter of time before a spot Bitcoin ETF is made available, significantly increasing the accessibility of BTC investing for a considerable number of traders.
In best-case scenarios, Bitcoin and wider crypto adoption will only increase at an institutional and retail level. With that in mind, our Bitcoin price prediction 2025 estimates that BTC could reach a valuation of $100,000 by the end of that year.
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Bitcoin Price Prediction 2030
Now let’s touch on our Bitcoin price prediction over the long term. As highlighted earlier, Bitcoin retains enormous support from both the crypto and traditional markets.
No other coin has this universal support, which is a plus point for BTC’s long-term potential.
Bitcoin’s price will likely be driven by real-world use cases and speculation. All of the best crypto exchanges offer BTC as a tradable asset, making it easy for beginner investors to get their hands on the coin. In addition, many other platforms (such as PayPal and Cash App) have now offered Bitcoin investing – increasing accessibility even more.
Returns continue to be low through ‘traditional’ investments, which has naturally seen many investors gravitate towards the crypto market.
Although digital currencies are far more volatile than most asset classes, they do have the potential to generate market-beating returns. This is evidenced by the remarkable 302.8% return that Bitcoin provided in 2020 alone.
Overall, it’s likely that investment behaviors will continue to evolve in the years ahead – meaning cryptocurrency investing will likely become more commonplace.
As such, our Bitcoin price prediction 2030 forecasts that the coin could reach the $150,000 level by this point.
However, the most bullish of Bitcoin maximalists predict a much higher price for BTC, with huge sentiment that the coin could reach up to $1 million in the next decade.
Bitcoin Price Prediction 2040
Looking for a long term Bitcoin price prediction? The Bitcoin price 2009 to 2018 was highly volatile, as low liquidity and a general lack of crypto knowledge meant that most BTC trading was confined to small groups of people. However, now that Bitcoin has hit the mainstream and is here to stay, investors are wondering where BTC’s price could head over the next 10-20 years.
Most crypto investors researching what to invest in right now will naturally gravitate towards BTC, as it is the most easily accessible and has the highest level of credibility. Furthermore, Bitcoin is arguably still the most decentralized crypto on the market, as many other projects have become increasingly centralized over the past few years
This is a favorable aspect since it means that BTC won’t be affected by regulation as much as other projects may be. In fact, crypto market regulation may be positive for Bitcoin, as it’ll mean that many projects will likely have to change their approach – perhaps even removing certain use cases. If BTC can avoid these modifications, it’ll make the coin more appealing.
Combine these factors with Bitcoin’s growing popularity within the legacy financial markets, and there’s a clear recipe for long-term success. Although BTC may not showcase the explosive growth of prior years, the live Bitcoin price will undoubtedly benefit from greater adoption in the coming years.
For this reason, our Bitcoin price prediction 2040 estimates that the coin could be valued at $250,000 by this point. This would represent an increase of 1,386% from today’s price.
Potential Highs & Lows of Bitcoin (BTC)
The sections above have taken a deep dive into our Bitcoin price prediction for the years ahead. Presented below are some critical areas of note that BTC investors may wish to keep their eyes on going forward:
|Year||Potential High||Potential Low|
What is Bitcoin Used For?
Deemed by many to be the best crypto to buy Reddit, Bitcoin remains a favorite of retail and professional investors alike. Let’s explore this further by touching on Bitcoin’s central use cases:
Method of Payment
Bitcoin’s primary use case is as a method of payment. Since Bitcoin’s network is entirely decentralized, payments can be made in a near-anonymous manner. The only publicly viewable information is the wallet addresses involved in a BTC transaction.
Furthermore, Bitcoin does not accrue any banking fees traditionally associated with international transfers. Transfers are often much faster since they do not need to be authorized by a centralized authority.
The coin has now been adopted by two developing nations and many thousands of businesses, with adoption only set to become more widespread in the future.
Access to Banking
As a supplement to the previous point, Bitcoin can also be used in developing nations to provide access to the banking network. According to various reports, over two billion people worldwide do not have a bank account. However, most people now have a mobile phone and an internet connection, making it possible to send crypto payments.
Theoretically, those without a bank account could still send and receive BTC from their friends and family, improving their quality of living. Moreover, since this approach doesn’t require an address or identification, it’s accessible to all. Thus, as Bitcoin continues to grow, helping the ‘unbanked’ could become a fundamental use case.
Due to Bitcoin’s ‘Proof-of-Work’ consensus, advanced computer hardware is necessary to validate the transactions that occur on the network. In return for providing this hardware, ‘miners’ are rewarded in BTC.
Bitcoin miners receive a reward of 6.25 whenever they successfully add a block to the blockchain. At the time of writing, this equates to nearly $143,750 – highlighting how lucrative this process can be for those with the required computing power.
Finally, Bitcoin is also widely-used from an investment perspective, as discussed earlier in this article. The concept of cryptocurrency investing is still relatively new compared to equities and bonds, yet the adoption rate is increasing yearly.
It is not uncommon for Bitcoin to generate double-digit returns within a single day, which is rare in the equity market, as investors who buy stocks will attest to. BTC is also great for diversification, as it is highly resilient in times of market turmoil, such as during the COVID-19 pandemic.
How Could Bitcoin’s Future Utility Affect Price?
Any long-term Bitcoin price prediction must consider the coin’s future utility. Although Bitcoin has carved out a niche as a store of value, it does have the potential to develop further use cases. Combined with the coin’s ‘first-mover’ status and considerable credibility, these use cases will likely drive price appreciation.
One of the critical areas which could help Bitcoin flourish in the future is crypto ETFs. These ETFs are pooled investment funds containing cryptos (like BTC), allowing investors to gain quick exposure to price movements. Moreover, since a third party manages the fund, investors don’t have to worry about researching assets or portfolio rebalancing.
Although the price of Bitcoin right now is relatively low, once these ETFs begin to rise in popularity, they should boost demand. Investors eagerly anticipate the release of a spot BTC ETF, which has been rejected by the SEC several times. Once this ETF is released, it’ll make Bitcoin investing much more accessible to the masses, helping drive higher prices.
Another critical consideration is the Bitcoin Lightning Network. This is a layer-2 payment protocol that provides faster transaction speeds by settling BTC transactions off-chain. Due to its valuable use case, leading tech companies like Square have already adopted the Lightning Network.
Any Bitcoin price forecast must consider the Lightning Network’s growth, as this looks to be the next stage of the coin’s utility. As the network expands, it’ll begin making BTC more appealing to facilitate payments – perhaps on an international scale. This can only be good news for the Bitcoin price live.
What Drives the Price of Bitcoin?
Like other asset classes, such as equities and ETFs, Bitcoin’s price is driven by supply and demand forces. But what affects these forces? Let’s take a closer look at this question:
Social Media Attention
Social media has become a widely-used resource for cryptocurrency traders to learn more about specific projects. However, Bitcoin remains the most talked-about digital currency on many platforms – and has over 4.7 million members on its official subreddit. Due to this, whenever the ‘hype’ picks up on social media, it tends to lead to more investment from retail traders, which results in price increases.
Growth in Crypto Adoption
Naturally, the more use cases Bitcoin has, the greater the demand for the currency. As we know from the laws of supply and demand, when demand increases, the price also increases (assuming supply remains the same or decreases).
Therefore, concepts like Bitcoin ATMs have greatly helped bring BTC into the mainstream – even for people who don’t fully understand the technology. Bitcoin is now accepted as a payment method by retailers worldwide since it is often cheaper to transact and more transparent than FIAT currencies.
Crypto Market Regulation
New crypto market regulations will most likely drive any significant movements in the BTC price chart over the coming years. A recent article from Forbes noted that G20 leaders have been discussing regulation, stating that it is “critical” and that they must “strengthen regulatory outcomes”.
There’s a growing belief that increased regulation could help the price of BTC, as it’ll make the coin more appealing to large financial institutions. Since these institutions could provide billions of dollars of investment, any regulation that protects them would increase the likelihood of them entering the crypto market.
Finally, following on from the previous section, the level of institutional investment is something that can affect Bitcoin’s price. Naturally, if significant investment banks were to invest in BTC, this would be a bullish signal to the rest of the market. This has already begun to happen, with banks like Barclays and Citigroup making BTC investments.
This also ties into the anticipated spot Bitcoin ETF, which many hope will appear in the next few years. An ETF like this would enable a new demographic to gain exposure to Bitcoin’s price fluctuations without dealing with the intricacies of crypto trading (e.g. wallets, blockchain technology, etc.). In turn, this would help raise Bitcoin’s visibility and positively affect its price.
Where to Buy Bitcoin
Although Bitcoin may not be the next crypto to explode due to its ‘mature’ status within the broader market, it still retains massive support from the investment community. As such, most brokers and cryptocurrency exchanges will now allow users to invest in BTC – with many even offering derivatives markets. However, although this is undoubtedly a good thing, it can be challenging to narrow down the selection.
Through our research and testing, we’ve found that eToro offers the best place to buy Bitcoin quickly and easily. eToro is one of the world’s leading online brokers, with over 28 million registered users. Much of eToro’s appeal comes from the platform’s strict security since it is regulated by leading bodies, including FinCEN, FINRA, CySEC, ASIC, and the FCA.
Regarding fees, eToro charges a 1% commission on buy and sell orders (plus the market spread). eToro’s minimum investment threshold is only $10, meaning the platform is ideal for beginner investors looking to start small and build their way up. Creating a portfolio is also easy, as eToro offers 78 leading cryptocurrencies to trade (including BTC).
In terms of deposits, eToro allows users to fund their accounts instantly using a credit/debit card or e-wallet (such as PayPal). Bank transfers are also accepted, with all methods free to use if depositing in USD. Again, the minimum deposit is only $10 – although eToro offers a free demo account feature for investors who wish to experience the platform risk-free.
Finally, eToro also offers one of the best crypto wallets on the market, supporting thousands of crypto-assets. This wallet can be downloaded for free on iOS and Android devices and provides a safe and user-friendly way to store Bitcoin.