Bitcoin (BTC) Price Prediction 2024, 2025–2030 | CoinCodex (2024)

According to our current Bitcoin price prediction, the price of Bitcoin is predicted to drop by -5.64% and reach $ 48,734 by February 26, 2024. According to our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 78 (Extreme Greed). Bitcoin recorded 20/30 (67%) green days with 9.41% price volatility over the last 30 days. Based on our Bitcoin forecast, it's now a good time to buy Bitcoin.

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Based on the historical price movements of Bitcoin and the BTC halving cycles, the yearly low Bitcoin price prediction for 2025 is estimated at $ 29,268. Meanwhile, the price of Bitcoin is predicted to reach as high as $ 149,245 next year. Using the same basis, here is the Bitcoin price prediction for each year up until 2030.

Bitcoin price prediction 2025

The Bitcoin price prediction for 2025 is currently between $ 29,268 on the lower end and $ 149,245 on the high end. Compared to today’s price, Bitcoin could gain 191.26% by 2025 if BTC reaches the upper price target.

Bitcoin price prediction 2030

The Bitcoin price prediction for 2030 is currently between $ 242,605 on the lower end and $ 308,078 on the high end. Compared to today’s price, Bitcoin could gain 501.23% by 2030 if it reaches the upper price target.

Bitcoin's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strenght Index - RSI (14)

Based on our technical indicators, Bitcoin's 200-day SMA will rise in the next month and will hit $ 37,906 by Mar 21, 2024. Bitcoin's short-term 50-Day SMA is estimated to hit $ 42,278 by Mar 21, 2024.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 77.00, which indicates that the BTC market is in a overbought position. The RSI indicator suggests that the price of BTC will increase.

Popular BTC Moving Averages and Oscillators for Wed, Feb 21, 2024

Moving averages are a popular indicator in all financial markets. The purpose of a moving average (MA) is to smooth price action over a certain amount of time. Moving averages are a lagging indicator which means they are based on previous price action. In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA).

Bitcoin Oscillators

An oscillator is a technical analysis tool that constructs high and low bands between two extreme values, and then builds a trend indicator that fluctuates within these bounds. Traders use the trend indicator to discover short-term overbought or oversold conditions.

Bitcoin Key Price Levels

Based on today's classical pivot point (P1) with the value of $ 51,990, Bitcoin has support levels of $ 51,092, $ 49,905, and the strongest at $ 49,007. Similarly, Bitcoin resistance levels are at $ 53,176, $ 54,074, and $ 55,261.

Bitcoin Correlation

Over the past 7 days, Bitcoin price was most positively correlated with the price of Wrapped Bitcoin (WBTC), Shiba Inu (SHIB), Helium (HNT), Mantle (MNT) and Flow (FLOW) and most negatively correlated with the price of Pendle (PENDLE), TRON (TRX), Toncoin (TON), Bitget Token (BGB) and Kaspa (KAS).

Bitcoin price is positively correlated with the top 10 coins by market cap with a price of 0.325, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.349.

Currencies that are positively correlated with Bitcoin indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Bitcoin, a move in one direction for Bitcoin would translate into a move in the opposite direction for the negatively correlated coin.

To get a better idea of what could happen to the Bitcoin price in the future, it’s helpful to also explore Bitcoin’s price history. In the last month, the BTC/USD pair is down .

Bitcoin Price Analysis

How to read and predict Bitcoin price movements?

Bitcoin traders use a variety of tools to try and determine the direction in which the BTC market is likely to head next. These tools can roughly be divided into indicators and chart patterns. When trying to predict the Bitcoin price, traders also try to identify important support and resistance levels, which can give an indication of when a downtrend is likely to slow down and when an uptrend is likely to stall.

Bitcoin Price Prediction Indicators

Moving averages are among the most popular Bitcoin price prediction tools. As the name suggests, a moving average provides the average closing price for BTC over a selected time frame, which is divided into a number of periods of the same length. For example, a 12-day simple moving average for BTC is a sum of BTC’s closing prices over the last 12 days which is then divided by 12.

In addition to the simple moving average (SMA), traders also use another type of moving average called the exponential moving average (EMA). The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action.

50-day, 100-day and 200-day moving averages are among the most commonly used indicators in the crypto market to identify important resistance and support levels. If the BTC price moves above any of these averages, it is generally seen as a bullish sign for Bitcoin. Conversely, a drop below an important moving average is usually a sign of weakness in the BTC market.

Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future direction of the BTC price.

How to read Bitcoin charts and predict price movements?

Most traders use candlestick charts, as they provide more information than a simple line chart. Traders can view candlesticks that represent the price action of Bitcoin with different granularity – for example, you could choose a 5-minute candlestick chart for extremely short-term price action or choose a weekly candlestick chart to identify long-terms trends. 1-hour, 4-hour and 1-day candlestick charts are among the most popular.

Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Bitcoin’s price action in 1-hour chunks. Each candlestick will display BTC’s opening price, closing price, as well as the highest and lowest prices that Bitcoin reached within the 1-hour period.

It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite. Some charts will use hollow and filled candlestick bodies instead of colors to represent the same thing.

What affects the price of Bitcoin?

Just like with any other asset, the price action of Bitcoin is driven by supply and demand. These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates. Regulations, adoption by companies and governments, cryptocurrency exchange hacks, and other real-world events can also affect the price of BTC. The market capitalization of Bitcoin can change significantly in a short period of time.

When trying to make a Bitcoin forecast, many traders also try to monitor the activity of BTC “whales”, which are entities and individuals that control large amounts of BTC. Since the Bitcoin market is relatively small compared to traditional markets, “whales” can single-handedly have a big influence on Bitcoin’s price movements.

Bullish and bearish price prediction patterns

Some traders try to identify candlestick patterns when making cryptocurrency price predictions to try and get an edge over the competition. Some candlestick formations are seen as likely to forecast bullish price action, while others are seen as bearish.