With a bearish reversal, the Bitcoin price is back to the $50,000 support level as the global markets crash after the Bank of Japan increases interest rates, the highest in 16 years. As the daily chart loses the optimistic characteristics, the bearish flow warns of a drop under $50,000.
Starting in August on a bearish note, the third quarter of Bitcoin might witness slower than anticipated movement. Further, the slowdown in the US tech giants could fuel further downfall in the Bitcoin prices.
With the markets filled with fear, questions arise, such as: “Is Bitcoin ready to reach the $100K mark?” or “Will Bitcoin ever go up?” or “Where will Bitcoin be in 5 years?”
We bring our comprehensive Bitcoin Price Prediction 2024-2030 to solve such doubts.
Overview
| Cryptocurrency | Bitcoin |
| Token | BTC |
| Price | $ 54,874.31569424  -3.50% |
| Market Cap | $ 1,083,047,838,813.7080 |
| Trading Volume | $ 41,477,799,957.5279 |
| Circulating Supply | 19,736,881.0000 |
| All-time High | $68,789.63 Nov 10, 2021 |
| All-time Low | $0.04865 Jul 15, 2010 |
| 24 High | $ 0.0000 |
| 24 Low | $ 0.0000 |
Bitcoin Price Prediction August 2024
As the downfall in Bitcoin price hits $49,777, the bulls make an overnight comeback and reclaim the $50K mark. The bullish reversal rally reclaims the $57K level and teases of a new positive cycle with potential to cross the $60K.
If the bullish dominance is sustained at $55K, the Bitcoin market price can stabilize at around the $65,000 mark by the end of this month. Conversely, $45,880 is the next crucial area of support.
| Bitcoin Price Prediction | Potential Low | Potential Average | Potential High |
| Bitcoin Price Prediction August 2024 | $45,880 | $50,770 | $65,000 |
Also Read: What is Bitcoin? An In-Depth Guide To The King Of Digital Currencies
Derivatives Analysis
At present, the Bitcoin Futures Open Interest stands at $13.5B, down by 23.52% in the last 24 hours. Further, it has declined by 35.92% in 7D, signaling closed futures positions. Meanwhile, the funding rate at -0.00710775 shows short traders as dominant, paying longs.
The Bank of Japan Tragedy
The Bank of Japan’s rate hikes have led to a global market sell-off by affecting the profits of carry-forward traders. With the increased rates, overborrowing has become costly, prompting investors to close their positions in risky instruments to pay off their debts. Amidst such volatility, the crypto market has taken a massive hit, as it is highly dependent on international funds from large investors and institutions.
Will BTC Rise Again in August?
With the next dovish event being the FOMC meeting in September, the Bitcoin price will primarily depend on the US and global market movement. Ironically, first put as a hedge against inflation, Bitcoin’s crash amidst a tectonic shift in the global markets reveals funds from centralized agencies fueling the bull run.
Hence, in August, the bullish reversal in Bitcoin will depend on the global market recovery.
Bitcoin Price Prediction 2024
With a bull run for most of Q1 and Q2 of 2024, the buyers are confidently taking bullish positions in Bitcoin. As the uptrend peaks at $72,000 and sustains dominance above $60,000, the bull run could gain momentum.
Rising hopes for interest rate cuts in the US market will bolster BTC’s price uptrend. Therefore, 2024 is highly anticipated to be a bullish year for Bitcoin, with a potential high of around $120,000 and a potential low of $35,000.
| Bitcoin Price Prediction | Potential Low | Potential Average | Potential High |
| Bitcoin Price Prediction 2024 | $35,000 | $77,500 | $120,000 |
Bitcoin Price Prediction 2025-2030
| Bitcoin Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| 2025 | 61,357 | 95,903 | 140,449 |
| 2026 | 82,522 | 115,569 | 155,284 |
| 2027 | 152,837 | 160,942 | 169,047 |
| 2028 | 174,063 | 183,485 | 192,908 |
| 2029 | 204,634 | 222,096 | 239,559 |
| 2030 | 277,751 | 312,767 | 347,783 |
Bitcoin Price Prediction 2025
With the launch of potentially more Bitcoin-related financial services and the global adoption spark of Bitcoin, BTC prices will maintain a bullish trend in 2025. The cryptocurrency is expected to create a high of $140,449 with a low of $61,357. Therefore, the average Bitcoin price prediction for 2025 will potentially be $95,903.
Bitcoin Price Prediction 2026
Firstly, according to Bitcoin Price Prediction 2026, the BTC price range in 2026 is expected to be between $82,522 and $155,284. Moreover, the average price is projected to be $115,569.
BTC Price Prediction 2027
Subsequently, as per BTC Price Prediction for 2027, the Bitcoin price range can be between $152,837 to $169,047. Furthermore, the average price is expected to be $160,942, indicating a relatively stable bullish period for Bitcoin.
Bitcoin Price Prediction 2028
With the 5th Halving, the Bitcoin price will see another bullish spark in 2028. Specifically, as per Bitcoin Price Prediction 2028, the potential BTC price range in 2028 is $174,063 to $192,908. The average price is also expected to be $183,485, demonstrating continued positive momentum.
BTC Price Prediction 2029
Thereafter, as per BTC Price Prediction 2029, the BTC price will range between $204,634 and $239,559. The average price is projected to be $222,096, indicating a significant rise in Bitcoin’s value.
Bitcoin Price Prediction 2030
Finally, in 2030, Bitcoin prices are predicted to maintain a positive trend. Indeed, the BTC price is expected to reach a new all-time high, ranging between $277,751 and $347,783. In conclusion, the average cost is expected to be $312,767.
Bitcoin Market Price Prediction: Analyst and Influencer’s BTC Price Prediction
| Firm Name | 2024 | 2025 |
| Gov.Capital | $91,245 | $123,352 |
| DigitalCoinPrice | $78,717 | $110,963 |
| Trading Beasts | $88, 632 | $154,435 |
- As per the speculations of Blockware Solutions, the price of 1 BTC could hit $400,000.
- The author of Rich Dad, Poor Dad, Robert Kiyosaki, speculates the Bitcoin price will cross $100,000 this year.
- Adam Back supports the bullish prediction of Bitcoin and expects an all-time high above $100,000.
CoinPedia’s Bitcoin (BTC) Price Prediction
Firstly, at CoinPedia, we feel optimistic about Bitcoin’s price increase.
Hence, We expect the BTC price to create a 2024 high of $120,000.
| Bitcoin Price Prediction | Potential Low | Potential Average | Potential High |
| Bitcoin Price Prediction 2024 | $35,000 | $77,500 | $120,000 |
ChatGPT Predicts Bitcoin Price To Cross $1 Million
Furthermore, using the above Bitcoin Halving table, we asked ChatGPT to calculate the potential jump in Bitcoin after the 2024 halving. Using AP and GP, the AI estimates the Bitcoin price post-halving to jump 290% or 4,160% this year.
Rounding off the current Bitcoin price to $65,500, AI predicts Bitcoin will boom in 2024 after the fourth Bitcoin Halving. As per the arithmetic progression viewpoint, the price of BTC could hit $255,450. Optimistically, the Bitcoin price could scale to $2,790,464 per G.P.
Bitcoin Historic Price Sentiments
Analyzing BTC’s historic price sentiment is suitable for rightly interpreting the indications we encounter while analyzing its future price sentiment.
In a nutshell, optimism and hope around Bitcoin have continued to grow ever since its launch. And now, with the institutions coming together, the fourth Bitcoin halving is a crucial turning point.
FAQs
At the time of publishing, 1 BTC was $65,509.
Bitcoin halving ensures that the amount of mineable Bitcoin reduces over time, making BTC more scarce and increasing its worth.
Bitcoin price will surge with the Bitcoin halving coming closer.
The projected price of Bitcoin in 2024 will range between $35,000 and $120,000, with an average of $77,500.
The BTC price is projected to reach a high of $120,000 and a potential low of $35,000 in 2024.
As per Coinpedia’s Bitcoin price prediction, 1 BTC could peak at $140,449.
In 2030, the price of 1 Bitcoin could reach a height of $347,783.
After the fourth Bitcoin Halving, the BTC price trend has slowly gained bullish momentum. As per the historical records, the BTC price is expected to rise again and hit the $100K mark.
Projecting a 10-year growth in a volatile asset like Bitcoin seems a far-stretched notion. However, the BTC price is expected to cross $300,000 by 2030. With global adoption, a single Bitcoin could be worth a million dollars.
The 2020 fall in Bitcoin found support at $3850 and started at $10,501. Considering you bought at the peak, your $100 investment would have increased by 1607%. In short, your investment would be worth $1,701.
