Bitcoin Price Prediction – What’s Ahead For BTC?

As a cryptocurrency, BTC is subject to price changes thanks to macroeconomic factors, investors’ sentiments, market trends, and developments in the ecosystem.

BTC recorded massive price swings in 2022 due to the prolonged bearish market, inflation, and the fed’s approach to combating it. Coming into 2023, the number one crypto also felt uncertainties in the market environment due to the continuous enforcement actions against crypto firms and related products and services. 

Bitcoin is no longer in the $30,000 mark it recorded 11 days ago, on April 19, 2023. Today, it’s trading at $29,273 with a 0.01% price decline at the time of writing. Yet, the price outlook for the asset is promising. 

Bitcoin Price Trend

Bitcoin is one of the cryptocurrencies in the market with very high price volatility. Although it’s subject to price changes and other cryptos, its price performance is notable as it plays a huge part in determining altcoins trends.

At the beginning of the year, Bitcoin started at the $16,000 mark, performed well amid fluctuations, and reached $22,840 on January 31, 2023. It entered the $23,000 mark on February 1, maintaining its upward movement amid persistent fluctuations until it reached $24,307 on February 16. After a few days, the price dropped and closed at $23,521 on February 28. 

BTC experienced a bearish and unstable price change from the beginning of March until the 15th when it reached $24,770. As the general crypto market recovered, plus some developments like the Ordinals Protocol launch, BTC jumped, maintaining an uptrend in the market. In the space of 17 days, Bitcoin price spiked to $28,032.

Since April, Bitcoin is maintaining the $28,000 mark. Although it dropped after reaching $30,409 on April 15, the asset resists the bears. Today, April 29, 2023, BTC trades at $29,273 with a 0.01% price decline. Notwithstanding, investors expect more price increases in the nearest days.

Bitcoin Price Analysis with Technical Indicators

Bitcoin is on a long-term bullish sentiment as it records a sideways movement on the Market Sentiment Indicator. The bullish signals on 26 indicators make it promising for short and long-term investments.

Bitcoin’s price today is above the 50-Day and 200-Day Simple Moving Average (SMA) with BUY signals. This means in the nearest days to weeks, Bitcoin is prone to rally, attaining more price marks in the long run.

The Relative Strength Index (RSI) shows a 56.52 value, confirming the possible bullish trend of the asset. Also, the RSI value indicates that the Bitcoin market position is neutral, with visible possibilities of reaching the overbought region (70).

The Moving Average Convergence/Divergence (MACD) is below the signal line, representing Bitcoin’s current price decline. 

Bitcoin’s support levels are $28,397, $28,674, and $29,000. In contrast, its resistance levels are $29,604, $29,881, and $30208. BTC’s price is trading far away from its 3 support levels, so the price is prone to fluctuations. On the other hand, its resistance levels show the possibility of Bitcoin reaching new milestones in the coming days.

Experts’ Price Predictions for Bitcoin

Many crypto analysts and experts are tipping Bitcoin to attain new price records in the short and long term. Here are some expert price predictions for Bitcoin for 2023 and beyond.

Changelly Price Predictions for Bitcoin 2023 – 2030

Changelly expects BTC’s minimum price to reach $36,719, a maximum price of $42,405, and $37,880 by the end of 2023. If this happens, BTC will start 2024 with a minimum of $55,151, a maximum of $63,249, and an average price of $56,666.

By 2025, Bitcoin should have a $79,272 minimum price, a $94,988 maximum price, and a $81,538 average price. 

Also, Changelly tips BTC to perform well throughout the next 4 years. Thus, by 2030, BTC’s minimum price will be around $476,533, with an average price of $493,177 and a maximum of $569,191.

CoinPedia Price Prediction for Bitcoin 2023 – 2030

Coinpedia expects BTC to end 2023 with a minimum of $23,218, a maximum of $43,959, and an average price of $34,412. In 2024, the asset will record a minimum of $39,453, a maximum of $74,967, and an average of $57,743.

By 2025, BTC should reach a minimum of $65,556, a maximum of $124,867, and an average price of $92,298. From 2026 to 2029, BTC will record minimum prices of $80,732, $114,837, $152,262, and $225,873, respectively. 

The maximum prices during these years will be $130,632, $163,792, $196,794, and $300,362, respectively. $105,327, $137,372, $174,987, and $262,832 will be the average prices of the asset in those years.

By 2030, BTC will reach a minimum of $270,235, a maximum of $347,783, and an average of $308,832. 

Factors Affecting the Price of Bitcoin

There are several factors affecting the price of BTC. They include macroeconomic factors, investors’ sentiments, supply and demand laws, regulatory crackdowns, and many more. 

However, here are the current factors impacting BTC.

Bitcoin Scarcity

The main source of BTC’s value depends on its capped supply and growing demand. 21 million is the supply limit for the coins, of which 18.77 million are already mined. As scarcity grows, the price of BTC grows.

Cryptocurrency Halving

The BTC halving policy in the mining algorithm aims to offset inflation while maintaining scarcity. By halving BTC, the number of bitcoins allocated to miners drops, reducing the number of circulating coins. A positive response to this policy by the market will result in a bullish run for Bitcoin and a spike in its value.

Global Adoption

The price of Bitcoin is subject to growth if a wide number of individuals and organizations adopt its utility as a payment option. More global adoption will increase the demand for the coins. This will impact the price of Bitcoin positively.

Bitcoin Alternatives

Bitcoin has been doing well in the crypto market for the past few days to weeks. However, there are new crypto projects with promising opportunities to consider.

Love Hate Inu (LHINU)

Love Hate Inu is a new meme-coin project targeting the survey industry with its vote-to-earn concept. Its main purpose is to restore honesty to the online voting system using blockchain technology.

Users will utilize the platform’s native token, LHINU, to vote on polls about various topics of interest. They will also stake their tokens for up to 30 days to ensure transparency and security on the platform. 

LHINU token presale is in the final stage with 6 days left. It has raised over 8.5 million, showing investors’ interest in the project. 1 LHINU is equal to $0.000145. However, the price will spike once it lists on several exchanges. Early investors can make the most of the tokens when the price increases.