Bitcoin Price Predictions: How Much Will BTC Be Worth In 2021 And Beyond?

Will BTC go up or crash? Read our Bitcoin BTC Price Predictions

14 Min Read
Last Updated July 23rd 2021

On the hunt for Bitcoin prediction 2021? You’re in the right place. We’ll be sharing the top Bitcoin price predictions for 2021 and beyond. we’re taking a look at Bitcoin BTC to find out what the experts have to say about its future performance and how much will Bitcoin be worth in 2021 and beyond.

After another record-breaking bull run, Bitcoin (BTC) is brushing against $56,000. But is Bitcoin a good investment? Read on to discover the top BTC price predictions for 2021-2025. 

Bitcoin (BTC) has long been known as the king of cryptocurrency, and its recent bull run has shown us why. At the time of writing, the price of one BTC is $55,145.64 and the asset’s market capitalization rate is $1,032,663,445,515. Although we’ve seen the crypto rankings change significantly over the last six months, Bitcoin has only increased its market lead — outstripping its closest competitor, Ethereum, by over $50,000. 

Back in February, the price of Bitcoin was around $35,000 and its market cap was $642,238,803,752. That means the asset has grown by more than $20,000 in just three months. But as the market-wide bull run appears to be slowing down, many people are wondering what’s next for the price of BTC. 

Is Bitcoin a good investment? Will its price go up? If you’re considering adding Bitcoin to your portfolio (or have already done so), you’re in the right place. We’ll be looking at some of the top BTC price predictions to find out what could happen to the asset in 2021-2025. 

Whether you’re an existing or prospective investor, you’ve probably been watching Bitcoin’s recent performance obsessively. Bitcoin has far outstripped its previous all-time high (ATH) of $62,000, which it achieved in March 2021.

Ever since Bitcoin came to our computers in 2009, the world of cryptocurrency has been famously hard to predict. Some people believed that crypto would never take off, while others thought that it would replace fiat money within a matter of years. Neither of those outcomes has happened yet — but we have seen the price of Bitcoin skyrocket and crash numerous times in the last decade. 

Because Bitcoin is notoriously volatile, predicting its price with any accuracy can be tricky. However, the good news is there are many crypto experts who are well-placed to make informed (and potentially accurate) predictions about its price in the years to come. 

In this article, we’ll be taking a look at some of the top Bitcoin price predictions for 2021, 2022, and beyond. Whether you’re an experienced investor looking to beat the markets or a casual trader who wants to keep up with the latest cryptocurrency trends, read on to find out more about the Bitcoin price prediction today. 

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Short-Term Bitcoin Price Prediction: 2021 

Bitcoin Price Predictions for 2021

What are crypto experts forecasting for Bitcoin BTC in 2021?

Looking ahead to 2021, many Bitcoin experts have made optimistic predictions for the year ahead.

Bitcoin may have retained its number one spot, but the market can change quickly. The predictions in February were overwhelmingly bearish — so how do the updated forecasts compare? 

According to Prime XBT, Bitcoin’s bull run isn’t over yet. The investment analysis platform believes that 2021 will see the Bitcoin asset hit a series of new all-time highs (ATHs), breaking into a fresh bull run cycle ahead of schedule. 

BTC Liquid Index

As we can see from the chart above, this bull run could cause the price of Bitcoin to skyrocket.

Prime XBT believes that Bitcoin BTC could reach between $100,000 and $325,000 before 2021 is up — a staggering increase that would represent a growth rate of over 100%. 

If this prediction comes true, Bitcoin would become the first cryptocurrency to reach six figures.

Prime XBT is basing its predictions on BTC’s performance during the bull run in 2017-18, during which its price increased from around $4,000 to $17,000. Considering the price of Bitcoin has faltered a little after hitting the $50,000 resistance point, however, the top forecast of over $300,000 may seem a little too optimistic. 

For our second Bitcoin price prediction, we’re turning to WalletInvestor. According to WalletInvestor’s technical analysis, Bitcoin is unlikely to reach the values of $100,000+ that were predicted by DigitalCoinPrice. However, its outlook is still incredibly positive for anyone wondering ‘will Bitcoin keep going up?’ 

Wallet Investor also believes that Bitcoin will hit a new ATH before 2021 is out. Although it hasn’t predicted the same sky-high values we saw from Prime XBT, the platform expects the Bitcoin asset to reach an average price of around $80,000 in a year’s time. 

BTC Forecast

For the end of December 2021, Wallet Investor has predicted the following minimum, average, and maximum Bitcoin prices: 

  • Minimum = $66,822.30
  • Average = $73,559.40
  • Maximum = $80,740.20

Even the minimum Bitcoin prediction is over $10,000 higher than Bitcoin’s current price — an encouraging prospect for investors who are worrying that the bull run is coming to an end. The lack of volatility on this graph is also good news. After a series of dips, peaks, and troughs that have seen Bitcoin’s price change by thousands of dollars in the space of a few days, a smooth bull run would be a welcome contrast. 

According to WalletInvestor predicts the price of Bitcoin will hit a new all time high of $80,742.20 by the end of December 2021. The forecasts are overwhelmingly bullish, with nothing to suggest that the Bitcoin’s performance over the last few weeks has been a fluke

Long Forecast, on the other hand, doesn’t expect Bitcoin’s characteristic volatility to level out any time soon. Its prediction for 2021 suggests reasonably high levels of volatility, with the price of BTC ranging by around $10,000 every month. 

Bitcoin Price Predictions For 2021:

Month Open Low-High Close Total,%
May 2021 $57,758 $42,928-61,753 $46,159 -20.1%
Jun 2021 $46,159 $37,216-50,738 $40,017 -30.7%
Jul 2021 $40,017 $36,561-42,065 $39,313 -31.9%
Aug 2021 $39,313 $39,313-48,795 $45,603 -21.0%
Sep 2021 $45,603 $45,603-56,602 $52,899 -8.4%
Oct 2021 $52,899 $52,899-63,492 $59,338 2.7%
Nov 2021 $59,338 $59,338-73,650 $68,832 19.2%
Dec 2021 $68,832 $68,832-85,434 $79,845 38.2%

 

The numbers in this table are similar to those we saw from Wallet Investor.

Both platforms expect the price of Bitcoin to max out at around $80,000 in 2021, with prices ranging from around $67,000 to $85,000 in December. While this isn’t as high as the prediction from Prime XBT, it should still be good news for investors who are wondering ‘will the price of Bitcoin go up?’ 

After the volatility of 2020, many investors are hoping that Bitcoin’s latest bullish run will continue over the coming year. However, the cryptocurrency market is notoriously volatile — and considering Bitcoin’s price has risen and fallen dramatically in the past, there’s no guarantee that its sky-high rates will last.

Other short-term Bitcoin price prediction comes from DigitalCoinPrice. If you’re hoping that Bitcoin’s impressive performance will continue throughout the new year, it’s encouraging news from this crypto platform. Let’s take a look at its predictions: 

The labels on the vertical axis of DigitalCoinPrice’s graph should tell you everything you need to know — the platform doesn’t expect the price of Bitcoin to fall below $70,000 at any point in 2021. In fact, it believes that Bitcoin’s bullish run is far from over. 

By the end of 2021, DigitalCoinPrice expects the Bitcoin digital asset to be worth a staggering $87,723.88. 

If these bitcoin price predictions are correct, it means we’ll need to experience an unprecedented level of growth in the next few weeks. You might think this level of optimism is extreme, but given the fact that investor interest is at a record high, it’s not completely impossible.

Looking ahead towards the rest of the year, DigitalCoinPrice believes that Bitcoin will peak at a yearly high of $103,563.76 in August, before dropping back down to $73,970.84 in September. 

In any other year, a crash of more than $30,000 would probably be an investor’s worst nightmare. But this graph is far from discouraging. Even DigitalCoinPrice’s lowest predictions are staggeringly high when compared to the current price of Bitcoin, so as long as you don’t buy the asset when its price is at the top of its arc, its short-term prospects are good.

All of these Bitcoin predictions are optimistic — but they’re almost conservative when compared to the forecasts from Citibank. Back in November 2020, a leaked report from Citibank contained the staggering prediction that the price of Bitcoin could hit $318,000 by December 2021.

A senior Citibank analyst, Tom Fitzpatrick, referred to Bitcoin as ‘21st century gold’, an echo of the asset’s status as ‘digital gold’. He identified the fact that Bitcoin price has enjoyed three bullish runs over the last decade and suggested this pattern could sustain a long-term trend. 

Characterized by ‘unthinkable rallies followed by painful corrections’, the price history of Bitcoin could indicate that another peak is on the horizon. As the price continues to climb, Fitzpatrick’s claims have gained significant legitimacy since he first made his prediction. Although $318,000 might seem a staggering amount at the moment, the rapid rate of escalation could suggest it’s not as extreme as it first seems. 

So what’s next for Bitcoin now that it’s recovered from such a tumultuous year? John McAfee may have made the wild prediction that the price of Bitcoin would hit a staggering $1 million by the end of 2021, but the majority of predictions have been a little more modest. 

The cryptocurrency YouTube channel ‘The Moon’, which is run by Carl Eric Martin, took to Twitter to share a graph that follows Bitcoin’s bullish run in 2017 — again, an after-effect of the 2016 halving. As we can see in the graph below, this shows that if Bitcoin follows the same price movements in the wake of the May 2020 halving, its price would max out at $318,438 by the very end of 2021. 

According to Cryptopolitan, one factor which could impact the price is the Bitcoin halving which occurred back in May.

Bitcoin halving is an event that occurs in order to control the circulation of Bitcoin tokens and make the cryptocurrency more scalable. As the maximum supply of Bitcoin is capped at 21 million, the halving (also sometimes known as ‘the halvening’) is set to occur after 210,000 blocks, which equates to roughly once every four years.

This process cuts the reward for mining new blocks in half, with the idea that this will slow the speed at which new Bitcoin tokens are generated. 

After the last halving in 2016, the price of Bitcoin saw an incredible 93% increase throughout the rest of the year. If the cryptocurrency followed a similar pattern this time around, we could feasibly see the price of Bitcoin rise to above $75,000 before 2021 comes to an end.

Considering we’ve already seen a steep increase throughout the first quarter alone, only time will tell how accurate this projection is. 

bitcoin price movements

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What Will Happen to the Price of Bitcoin (BTC) in 2021?

According to these predictions, the price of Bitcoin will hit a new ATH before the end of 2021. This could range from around $90,000 to a staggering $325,000, if the forecast from Prime XBT turns out to be accurate. 

Will the Price of Bitcoin (BTC) Go Up in 2021?

Yes, it seems probable that the price of Bitcoin will go up in 2021. All of the predictions suggest that the asset hasn’t yet hit its yearly peak, although the exact value varies between forecasts. 

Additional predictions for the price of Bitcoin (BTC) in 2021 include:

  • Previsioni Bitcoin: $150,054.8932
  • Digital Coin Price: $88,359.05
  • Trading Beasts: $66,337.278
  • Scott Minerd (CEO of Guggenheim Partners): $400,000
  • Cryptopolitan: $77,000

According to the Stock-to-Flow (S2F), a Bitcoin price prediction system, BTC/USD will reach $100,000 by December 2021. JPMorgan, the bank that once called Bitcoin a scam, now expects the price of Bitcoin to reach $146,000 in 2021.

Former Adaptive Capital partner Willy Woo expected the price of Bitcoin to hit $200,000 for year-end 2021.

Elon Musk-led Tesla announced in their SEC filing that they had purchased $1.5 billion worth of Bitcoin. As soon as the news came out, the BTC price immediately reacted and reached a new all-time high of $48,000.

BNY Mellon Bank supports cryptocurrency, BNY Mellon bank said: "growing client demand for digital assets" as well as "improving regulatory clarity." It marked a "tremendous opportunity for us to extend our current service offerings to this emerging field,"

Mastercard Mellon signalled its support for the cryptocurrency. Raj Dhamodharan, the head of digital assets, said: We are seeing this fact play out on the Mastercard network, with people using cards to buy crypto assets, especially during bitcoin's recent surge in value. We are also seeing users increasingly take advantage of crypto cards to access these assets and convert them to traditional currencies for spending."

With such wildly different predictions, it can be hard to know what the most likely outcome is (which is precisely why cryptocurrency investing is such a risky endeavour!). We can sum up these disparate 2021 Bitcoin predictions by saying that the potential price increase is currently thought to be much more dramatic than the potential price decrease, but this doesn’t mean that the decrease is less likely to happen.

Bitcoin predictions for 2021 are incredibly varied. If you favour a long-term investing strategy, let’s take a look at the Bitcoin price predictions for 2022-2025. 

Long-Term Bitcoin Price Prediction: 2022-2025 

What are crypto experts forecasting for Bitcoin BTC in 2022 and beyond?

Now that we’ve seen what could happen to the price of Bitcoin in 2021, let’s look ahead to 2022-2025. What is the king of cryptocurrency’s long-term price potential? You’re in the right place to find out. 

Many traders and investors are keen to know what the next 5 years could have in store for the price of Bitcoin. If you’re looking for a Bitcoin price prediction 2025, or even wondering ‘should I invest in Bitcoin?’

Previsioni Bitcoin gave one of the most optimistic predictions for 2021. Like Prime XBT and Scott Minerd of Guggenheim Partners, the platform believes that the price of Bitcoin BTC will hit (and exceed) $100,000 before the end of 2021. Its prediction places Bitcoin at a maximum value of $150,054.8932 — so its updated forecast for 2022 might seem a little disappointing in comparison.

BTC/USD Price

Although Previsioni Bitcoin expects Bitcoin BTC to reach a top price of $247,558.59 in 2022, it believes this milestone will occur in May. After peaking early, the rest of the year shows a bearish trajectory, with the price of Bitcoin eventually closing at $167,331 2716 at the end of December 2022. 

This is still around $110,000 higher than its current price, so it’s definitely all good news. But after a promising growth rate in 2021, the bearish trend shows that the price of BTC isn’t likely to continue going from strength to strength in the long term. 

Like Previsioni Bitcoin, Digital Coin Price expects to see high levels of volatility over the next few years.

According to its long-term price prediction, the value of Bitcoin could start fluctuating by as much as $40,000 on a month-by-month basis.  

BTC Prediction

Although the overall trend is bullish, the extreme Bitcoin price changes might be challenging for investors.

Digital Coin Price clearly expects volatility levels to pick up in 2024-2027, with some of the most severe fluctuations in the asset’s history. Between September and October 2024, for example, this chart suggests that the price of Bitcoin BTC could fall from $196,302 to $154,747 — a crash of more than $40,000 in just one month. 

And the trend won’t end there. From December 2024 to January 2025, Digital Coin Price believes the price of Bitcoin will jump from $157,207.82 to $224,675.35. That’s an increase of almost $70,000! 

As we can see on the graph, 2027 could provide a break from these high levels of volatility. But from 2028 onwards, the trend will apparently start again. The investment analysis platform has predicted that BTC will climb by over $60,000 in the first month of the new year, taking its price to a new ATH of between $260,000-$280,000. 

Previsioni Bitcoin may believe that BTC will hit these prices six years earlier than Digital Coin Price, but the longer timeline of the prediction above suggests that these prices could be more sustainable in 2028 than 2022. 

Cryptocurrency Price Prediction, however, doesn’t agree. This platform is optimistic about the future of many cryptocurrencies and Bitcoin is clearly no exception, as we can see from the table below:

Bitcoin Price Predictions In 2022:

January 2022

$140,810

February 2022

$166,780

March 2022

$170,242

April 2022

$185,824

May 2022

$198,520

June 2022

$192,172

July 2022

$223,912

August 2022

$204,868

September 2022

$227,951

October 2022

$211,216

November 2022

$225,066

December 2022

$212,370

 

Bitcoin Price Predictions In 2025:

January 2025

$588,634

March 2025

$657,885

May 2025

$761,761

July 2025

$694,819

September 2025

$680,969

October 2025

$796,387

December 2025

$819,471

 

Between January 2022 and December 2025, Cryptocurrency Price Prediction expects to see a Bitcoin price increase of over $650,000.

Like Previsioni Bitcoin, the platform believes that the Bitcoin crypto will hit the $200,000 milestone in 2022. Unlike Previsioni Bitcoin, however, it doesn’t believe that its bullish run will be short-lived. 

From March 2025 onwards, the table above suggests that Bitcoin could grow by around $100,000 every two months. This staggering growth rate will take the asset to a series of new ATHs as it climbs ever-closer to $819.471.

If you’ve ever wondered ‘will Bitcoin hit $1 million?’, you might get your answer sooner than you thought. According to Cryptocurrency Price Prediction, Bitcoin BTC could be worth over $2 million by May 2030! 

The platform expects the price of Bitcoin asset to hit $100,000 in January 2022 before skyrocketing to $200,583.77 by April 2022 — an incredible growth rate of more than 100% in less than four months! According to this forecast, November 2022 will see the price fall back down to $146,077, though it will reclimb to $182,414 before the end of 2022. 

So, how does this prediction compare to others on the market?

Prime XBT’s technical analysis places the price of Bitcoin at over $700,000 by the end of 2025.

If this turns out to be true, this will mean that the crypto has become the world’s first to achieve gold equivalence. This means the market cap of Bitcoin will be equal to the market capitalization of gold. 

In fact, the platform thinks the price of Bitcoin will be valued at $150,00 in 2021, rising to $317,403 by the end of 2022, $490,000 by the end of 2023, $545,000 by the end of 2024, and an impressive $762,000 by the end of 2025. 

This outlook might seem remarkably optimistic, but PrimeXBT isn’t the only analyst to foresee such a rise. In an interview on the YouTube channel ‘Altcoin Buzz’, Mark Yusko, the CEO of Morgan Creek Capital Management, also said that he thinks it’s ‘perfectly logical’ that Bitcoin price will reach gold equivalence in the long-term. 

As a long-term investment, it projects that Bitcoin could perform very well. According to its predictions, the value of Bitcoin could rise to $175,000 by the very end of 2021, rising to $2350,000 in 2022, and achieving a mean price of $720,000 by 2025.

According to CoinPrice’s predictions, the price of Bitcoin will peak in 2023 at $330,000. Over the next two years, and will continue to climb, before falling again in the run up to 2026. The platform believes that Bitcoin will hit the following yearly highs.

Coin Price has predicted the following Bitcoin milestones for the next 10 years:

  • 2021: $130,000
  • 2022: $180,000 
  • 2023: $330,000
  • 2024: $260,000
  • 2025: $370,000
  • 2026: $425,000
  • 2027: $510,000
  • 2028: $690,000
  • 2028: $750,000
  • 2029: $810,000
  • 2030: $915,000

 

According to Trading Beasts, we can see that the site has a rather more cautious approach than many of the other predictors we’ve seen. By the end of the years 2022 and 2023, it predicts the following minimum and maximum Bitcoin  price prediction forecast 2022 and 2023: 

  • December 2022: Minimum Bitcoin price = $61,875.556, Maximum Bitcoin Price = $75,464.111 
  • December 2023: Minimum Bitcoin price = $83,673.600, Maximum Bitcoin Price = $90,125.941 

These numbers are a lot lower than some of the most optimistic predictions for the market. For example, the TV host Max Keiser has claimed that Bitcoin will soon hit $90,000, rising to an incredible $400,000 within the next five years.

With a similarly bullish approach, the Bitcoin advocate and venture capitalist Tim Draper has predicted that the Bitcoin price will reach prices of $250,000 by 2023 — a prediction he first made in 2018 and has stuck to ever since. Draper believes that Bitcoin has a bright future as a serious challenger to traditional fiat currency, and believes we could soon see a return to Bitcoin’s all-time-high (ATH) of $20,000 at the end of 2017. 

But even these predictions aren’t the most ambitious. Raoul Pal, CEO of an investment strategy research service called The Global Macro Investor, believes that the economy of the United States has a bleak future — and suggests that savvy investors should hedge with both gold and Bitcoin. He predicts a staggering price increase of 10,710%, with Bitcoin price hitting values of $1 million by 2025! 

Overall, then, what should we take away from these Bitcoin price predictions? If you’re still wondering ‘is Bitcoin a good investment?’, you might feel reassured by the fact that many crypto investors believe the token is set for a bright future.

The general consensus among experts is that the price of Bitcoin is likely to rise over the next couple of years — and could skyrocket in the longer term. 

According to its Bitcoin prediction for 2025, BTC's market cap has the potential to reach $3 Trillion in 4 years time; this would result in a price per bitcoin of about $140,400. 

However, given the Bitcoin price predictions in this article, it’s never too late to invest in Bitcoin and take full advantage of its volatility.

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What Will Happen to the Price of Bitcoin (BTC) in 2025?

According to the predictions, it seems likely that the price of Bitcoin could potentially hit a new ATH within the next five years. Experts believes Bitcoin could be worth $500,000 by 2025. 

Both Previsioni Bitcoin and Digital Coin Price expect to see high levels of volatility from 2022 onwards, whereas Cryptocurrency Price Prediction remains optimistic that BTC could go from strength to strength without too much fluctuation. 

Will the Price of Bitcoin (BTC) Go Up in 2025?

All predictions suggest that the price of Bitcoin will go up in 2025. However, the exact growth rate varies between predictions. While Previsioni Bitcoin expects BTC to hit $450,000 as soon as 2025 before losing around $100,000 in value, Digital Coin Price believes that Bitcoin will reach $250,000 in 2028. Cryptocurrency Price Prediction has given our most extreme prediction, even suggesting that BTC could be worth over $2 million by 2030.

Additional long-term predictions for the price of Bitcoin (BTC) in 2022-2025 include:

Bitcoin price predictions 2022:

  • Long Forecast: $106,992
  • Trading Beasts: $63,966.195
  • Wallet Investor: $96694.00
  • Coinskid: $117,619.60
  • Pound Forecast: $97189
  • Coin Price Forecast: $145,962

Bitcoin price predictions 2023:

  • Long Forecast: $90,671
  • Trading Beasts: $76,955.453
  • Wallet Investor: $120145
  • Coinskid: $130,327.67
  • Pound Forecast: $95601
  • Coin Price Forecast: $160,138

Bitcoin price predictions 2024:

  • Long Forecast: $46,714
  • Trading Beasts: $89,521.312
  • Wallet Investor: $142915
  • Coinskid: $205,848.03
  • Pound Forecast: $34775
  • Coin Price Forecast: $194,957

Bitcoin price predictions 2025:

  • Long Forecast: $155,275
  • Wallet Investor: $166000
  • Coinskid: $256,548.38
  • Pound Forecast: $110,328
  • Coin Price Forecast: $193,605

 

Conclusion: Bitcoin Price Prediction Forecast

The below prediction figures outline some of the Potential high and low of Bitcoin price prediction forecasts in 2021, 2022, 2023, 2024 and 2025 offered by technical analysts and industry experts.

Year High Low
2021 $150,000 $21,400
2022 $256,000 $65,000
2023 $325,000 $90,000
2024 $415,000 $115,000
2025 $650,000 $185,000

 

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How Has The Price Of Bitcoin Changed Over Time? 

For any investor who’s wondering ‘will the price of Bitcoin go up?’, one of the most important factors to consider is past performance. This will make it much easier for you to contextualize the current cryptocurrency trends and, ultimately, attempt to make the most accurate Bitcoin price predictions. 

After launching in 2009, Bitcoin first appeared on cryptocurrency exchanges in 2010. For much of its first year, its price hovered between $0.06 and $0.30 — that’s almost 200,000 times lower than its current price! It hit $1 in February 2011. But it wasn’t until 2012 that the price of Bitcoin began to climb more consistently, eventually surpassing $100 in August 2013. 

Bitcoin’s first major price jump occurred in November 2013. Over the course of just one month, its price increased from $280 to $979.45, which was a staggering leap considering its hitherto slow progress. Unfortunately, it wasn’t to last, and by 2014, its price had fallen to $350. Its second major price jump would prove to be far more of a breakthrough. 

Bitcoin hit its ATH of $20,000 in 2017 after a period of rapid inflation. At the time, this growth was unprecedented; now, we’ve seen it happen twice. Although 2018 saw the price of Bitcoin crash back down to $3,300, it has never returned to its pre-2017 levels (the same cannot be said for many altcoins). 

As we can see from the chart below, which comes from Coin Market Cap, Bitcoin’s current price of $55,145.64 is not its ATH. BTC maxed out at $63,636.90806 on April 14th 2021 and hasn’t yet reclimbed to its peak. According to the predictions, however, that could be about to change.

BTC Price

What Factors Affect The Price Of Bitcoin?    

The price of Bitcoin BTC can change according to a variety of different factors. In order to make the most accurate Bitcoin price predictions 2021-2025 and to answer the question ‘is Bitcoin a good investment?’, it’s best to be aware of those factors from the start. This will indeed make it easier to predict periods of growth or decline based on cryptocurrency trends and other events that can affect the price of BTC. 

1. Media Coverage 

Media coverage is hugely important when it comes to drumming up investor interest in cryptocurrency. Back in 2017-2018, renewed interest in BTC (along with the rest of the crypto market) was largely driven by a media frenzy. The more coverage the skyrocketing prices received, the more people began to invest. This created an imbalance between supply and demand that caused the price of Bitcoin to soar. 

At the end of 2020, we saw this again. When the payments network PayPal announced that it would enable people to store BTC in their PayPal wallets, Bitcoin hit the headlines with a vengeance, giving many would-be investors the push they needed to add BTC to their portfolio. The fact that Bitcoin is gaining real-world applications has countered worries that it’s too impractical to rival fiat currency.

2. Market Competition

Another factor that can potentially affect the price of Bitcoin is market competition. When new altcoins enter the market, or other high-ranking cryptocurrencies start to attract high levels of investor interest, it can cause traders to start focusing on alternative forms of crypto. This is particularly true when it comes to Bitcoin Cash (BCH). The Bitcoin hard-fork is a third generation cryptocurrency that many people believe is superior to BTC, as it was designed to solve some of the problems that plague the king of cryptocurrency. 

However, the good news is that Bitcoin is far more resilient to market competition than most altcoins. In over 10 years, it’s never lost its status as ‘digital gold’, despite the fact that new cryptos might be technically more robust or scalable. In fact, changes in Bitcoin’s price often foretell similar movements across the industry as a whole. Many analysts have noticed that bullish or bearish BTC runs are closely mirrored by other cryptos, although the opposite doesn’t seem to be true. 

3. Supply And Demand

Like any limited commodity, the supply and demand of Bitcoin hugely impact its price. The price of Bitcoin is driven up when the demand for new tokens is greater than the supply — something which usually happens in the aftermath of each Bitcoin halving, causing some investors to think of it as a form of artificial inflation

This factor will become less volatile once the maximum supply of Bitcoins has been issued. However, current estimates predict that this won’t happen until around the year 2140. 

4. Cryptocurrency Regulations

The world of cryptocurrency has been largely unregulated throughout the world, but due to increasing governmental pressure, it’s becoming more closely controlled. This is creating a level of long-term uncertainty, as some investors worry that new regulations will cause the demand for Bitcoin (and other cryptocurrencies) to fall. This could be as a result of future taxation measures or new restrictions. 

5. The Bitcoin Halving

Bitcoin halving (also sometimes known as ‘halvening’) is an event that’s designed to control the circulation of Bitcoin tokens and make the cryptocurrency more scalable. Because the maximum supply of Bitcoin is capped at 21 million, the halving is set to occur each time 210,000 new blocks are added to the blockchain, something that roughly equates to once every four years. This process means that the reward for mining new Bitcoin blocks is slashed in half, slowing the pace at which we’ll max out the supply. There are currently 18.5 million BTC in circulation and current estimates suggest we’ll reach 21 million in the year 2140. 

In 2016, the first Bitcoin halving saw the price of BTC  increase by an incredible 93% throughout the rest of the year. Before the last halving occurred in 2020, investors noted that if the cryptocurrency followed a similar pattern again, we could feasibly see the price of Bitcoin rise to around $15,000 before the end of the year. Sure enough, we did! 

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Key Points

  • At the time of writing, Bitcoin has a price of $55,145.64 and a market capitalization rate is $1,032,663,445,515.
  • Bitcoin hit its ATH of $63,636.90806 on April 14th 2021.
  • Prime XBT believes that BTC could reach between $100,000 and $325,000 before the end of 2021.
  • On December 31st, 2021, Wallet Investor expects Bitcoin to reach an average price of $73,559.40, rising to around $80,000 by May 2022. 
  • Long Forecast expects to see high levels of volatility in 2021, with the price of Bitcoin maxing out at $85434 in December. 
  • Previsioni Bitcoin believes that BTC will hit a top price of $247,558.5936 in May 2022, before closing at $167,331 2716 at the end of the year.
  • Digital Coin Price thinks that Bitcoin will fluctuate between 2022-2027 and max out at around $250,000 in 2028.
  • Cryptocurrency Price Prediction has given one of the most optimistic forecasts, expecting to see a new ATH of over $2 million by 2030. 
  • Factors that can affect the price of Bitcoin include its media coverage, market competition, and the regular Bitcoin halving.

We hope that you’ve found this Bitcoin price prediction article helpful. Whether you’re considering adding BTC to your portfolio or are an existing investor, the recent bullish run has left many people wondering ‘will Bitcoin continue to rise?’. 

According to the majority of these predictions, the outlook is overwhelmingly positive. Despite high levels of volatility, all of the predictions believe that Bitcoin will gain value in the short and long term, with top potential prices ranging from $250,000 to over $1 million. 

Whether you’re considering adding Bitcoin to your portfolio or are an existing investor, the recent bullish run has left many people wondering ‘will Bitcoin continue to rise?’. According to the majority of these predictions, the outlook is overwhelmingly positive. None of the forecasts that we included in this article expect to see a period of rapid decline in the near future, with only DigitalCoinPrice predicting that the price of Bitcoin will fall after 2023.

If you're feeling inspired to invest in Bitcoin, or this article has provided some extra insight to your existing trading knowledge, you may be pleased to know that etoro provides the ability to trade with Crypto assets, including BTC and CFDs on up to 90+ cryptocurrencies. Crypto Traders can build a diversified portfolio with the most popular coins.

Further Reading:

Top 15 Best Cryptocurrencies To Buy This Month

Is Bitcoin A Good Investment & Should I Invest In Bitcoin?

Ripple Price Predictions: How Much Will Ripple Be Worth In 2021 And Beyond?

15 Reasons to Invest in Cryptocurrencies

Most Popular Cryptocurrencies In The UK

Top Cryptocurrencies To Invest In Australia In 2021

How To Trade Cryptocurrency with $100

Most Important Cryptocurrencies Other Than Bitcoin

Most Popular Cryptocurrencies In The USA

FAQs

Is Bitcoin a good investment?

According to the predictions, Bitcoin could be a good investment as its price is forecasted to increase. Its long-term prospects seem strong. 

Although investing in cryptocurrency is always risky, Bitcoin is generally considered a good investment within the industry. Its high volatility means you can use it to try and cash in on short-term price fluctuations, while the overall upward movement of the sector also means it could be a great long-term investment too. 

Will Bitcoin hit $100k?

With its current growth rate, Bitcoin could be on track to hit $100k in the next couple of years. Several predictions believe this could happen in 2021, while many expect BTC to break the $100k barrier in 2022 after maxing out at around $80,000 this year. 

What will Bitcoin be worth in 2030?

Some analysts have agreed that $1 million is a realistic target for Bitcoin. Current predictions are almost unanimous in claiming that Bitcoin is likely to hit $1.2m by 2030.

Will Bitcoin ever die?

The final Bitcoin token will be issued around the year 2140. Nobody is really sure what will happen before this happens. It’s so far in the future that Bitcoin could theoretically have fallen out of favour before we hit this milestone. Alternatively, changes to the Bitcoin network could revolutionise the supply of Bitcoin and change its outlook completely. 

How many Bitcoin tokens are left? 

The number of Bitcoin tokens that have already been mined is over 18.5 million (the exact number changes every 10 minutes). As the total supply is 21 million, this means there are fewer than 3 million tokens left to be mined.

Will Bitcoin hit $1M? 

Many predictions believe that Bitcoin could reach $1million during 2025. Experts do expect the price of Bitcoin to go above $1million level at any point in 2030.

Will Bitcoin hit $200k?

With its current growth rate, Bitcoin could be on track to hit $200k in the next couple of years. The most optimistic predictions believe this could happen in 2021, while others expect BTC to break the $200k barrier between 2022 and 2025. 

Disclaimer: Cryptocurrencies are highly volatile. Your capital is at risk and Past performance is not an indication of future results. Forecast and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. Moreover, they can not constitute a commitment or guarantee on the part of Trading Education.

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