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Everyone has heard of Bitcoin. As the coin that started the cryptocurrency movement, Bitcoin has positioned itself at the top of the pile – and after a stellar 2021, Bitcoin looks set to experience some remarkable value increases in the months that lie ahead.
In this article, we’ll present our Bitcoin Price Prediction, covering both the short and long-term outlook and highlighting the best place to buy Bitcoin – with zero commissions!
Bitcoin (BTC)
Price
$29,474.90
Table of Contents
Bitcoin Price Prediction 2022
If you’re looking for a quick Bitcoin price prediction, then look no further. This section presents our Bitcoin price prediction over various timeframes, determined via in-depth research and analysis. The remainder of this article will cover Bitcoin’s price in great detail, discussing potential outcomes and highlighting the future outlook.
One Month – Bitcoin has had a rough few months, with price dropping by around 39% since November 2021. However, with price seemingly forming a support level, we could see BTC rebound upwards towards $51,000 in the next month.
Three Months – If this rebound were to occur, the bullish momentum could pick up in the following months – with a price target of $70,000 certainly achievable over the next quarter.
End of 2022 – By the end of 2022, the price of Bitcoin could have breached all-time highs and be heading towards the $80,000 level – and potentially even higher.
If you are wondering how to buy cryptocurrency with the aim of investing in Bitcoin, then it’s a good idea to look at the Bitcoin price history to determine how we arrived at this point. We’ll start with a brief overview of what Bitcoin actually is before diving into the Bitcoin price live for some analysis.
Put simply, Bitcoin is a decentralised currency, which means that it can be exchanged between users directly using the Bitcoin network. All Bitcoin transfers are verified using what’s known as a ‘ledger’, which uses blockchain technology. Through this process, intermediaries such as banks can be completely cut out of the exchange process, leading to greater anonymity and fewer fees.
Bitcoin has been in use since 2009 and has grown exponentially since then. As more and more people began to buy Bitcoin, the price started to increase in value – with 2017 being the breakout year for the digital currency. Bitcoin reached the $19,000 mark in late 2017 but plummeted immediately afterwards as the hype began to die down.
However, momentum began to pick up towards the end of 2020, as newer and quicker ways of conducting transactions became necessary. Large numbers of retail traders started to invest in Bitcoin, forcing the price higher. By early January 2021, the Bitcoin price was sitting at $41,800, representing an all-time high for the crypto.
This upwards momentum continued until April 2021, helping Bitcoin reach an astounding value of $64,800. At this point, investors around the world were making a Bitcoin price forecast that the currency could go on to reach a $100,000 valuation! However, it wasn’t to be, and Bitcoin went on to lose around 54% of its value between April and July.
There were various factors at play that caused the value to decrease. Fortune reported that Coinbase going public was one of the main contributors, along with the regulatory pressures from China that forced financial institutions to stop providing cryptocurrency services. Elon Musk also announced that Tesla would stop accepting Bitcoin as payment for vehicles due to the environmental impact of mining Bitcoin.
However, in October 2021 the first Bitcoin Futures ETF was launched – setting a new milestone for the cryptocurrency industry. This catalyst towards mainstream acceptance now gathers global attention as the Bitcoin price began to head towards and above $63,000 once more.
BTC price broke above $68,000 in early November 2021 and looked like reaching the $70,000 mark, although it fell just short. Since that point, Bitcoin has fallen by around 39% and is now hovering around the $41,700 level. Although this may seem like a negative, this pullback could provide a fantastic opportunity for investors purchase BTC at a low price!
Bitcoin Price Forecast
Now that you have an idea of what Bitcoin is and how it got to this point, let’s look at our Bitcoin forecast for the months ahead. This section is broken down into technical and fundamental factors, ensuring you have a complete overview of how we made our decision regarding our Bitcoin forecast.
Technical
As noted in the section above, the Bitcoin price has been dropping over the last two months, due to some bearish momentum in the crypto market. Investors who usually flock to the best trading platforms have become more hesitant, which is weighing on prices. Looking at the Bitcoin price chart, we can see that the currency is heading towards the support level at $40,300 – which could be an area where price rebounds.
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This level offers strong support as it’s just above a significant psychological level. We may see some consolidation around this area before price rejects and heads upwards. If this happens, we could see BTC head back towards the nearby highs at $51,000.
Our Bitcoin prediction 2022 sees the currency continue to head higher and push back towards the highs of $65,000 experienced in October 2021. As BTC goes higher, this will undoubtedly provide a positive impact on other altcoins such as Ethereum, XRP, Litecoin, Dogecoin, Bitcoin Cash and more. Therefore, we could see solid performance in the cryptocurrency market as we progress through 2022.
Fundamental
The great thing about Bitcoin is that it has a strong use case, which sets it apart from numerous other cryptos. If you were to buy Dogecoin, you’d be buying simply to speculate on price increases. However, more and more entities are beginning to accept Bitcoin as a payment method, which will mean great things for price going forward.
CoinTelegraph recently reported that Amazon is ready to announce that they will be accepting Bitcoin as a payment method on their online platform. Amazon did deny these rumours initially; however, they persisted, and Amazon has even begun hiring blockchain-based employees.
Furthermore, recent rumours hinted that Apple had secretly purchased around $2.5 billion worth of Bitcoin. Although these rumours have not been confirmed, this would be another massive boost to Bitcoin’s credibility. There’s even hints that one day Apple may allow users to buy Bitcoin via the Apple Wallet app – which would certainly increase liquidity and help push price higher over the long term.
Bitcoin Price Prediction 2025 – Long Term Outlook
Our Bitcoin forecast over the long term is very optimistic. As noted in the section above, Bitcoin does have some influential technical analysis and fundamental factors that go in its favour. The previous all-time highs will naturally draw the Bitcoin projection price to this level, representing an increase of 65% from where price is today.
Major players in the crypto space, such as Elon Musk and Jack Dorsey, have sung Bitcoin’s praises recently. The fact that people of this magnitude are talking up Bitcoin indicates the currency’s value. Furthermore, with huge companies such as Amazon and Apple seemingly adopting Bitcoin, the future looks bright.
It’s also worth pointing out potential risks within this Bitcoin stock forecast. For one, the constant regulation from China is always a threat to Bitcoin trading. The Chinese economy looks set to play a significant part on the global stage in the future – and if Bitcoin is not adopted widely by China, it could pose significant problems. In addition, the persisting rumours about US regulation of Bitcoin don’t seem to be going away, which would definitely affect the coin’s price if they proved to be true.
With these points in mind, our Bitcoin price prediction 2025 could see the digital currency head towards the fabled $100,000 mark. The Bitcoin journey will never be plain sailing, so there will undoubtedly be stumbling blocks along the way. However, $100,000 is certainly a reasonable target given the technical and fundamental factors in play.
A recent Forbes article suggested that the Bitcoin projection could perhaps see over $300,000 per Bitcoin by 2025. Although this is a possibility, we believe Bitcoin’s upwards trajectory may be a little slower than that.
Following the same trajectory as our Bitcoin price prediction 2025, our Bitcoin price prediction 2030 hints at a much higher valuation for the currency. Over the next nine years, we can foresee a shift towards digital currencies, removing the need for traditional FIAT currencies. Due to Bitcoin being the ‘first mover’ in this area, it’s natural that institutions will gravitate towards this cryptocurrency over other ones.
If this occurs, there is undoubtedly scope for a Bitcoin projection towards the $400,000 mark. As a disclaimer, it’s hard to determine an exact figure as there are no technical factors to base this on. However, if you are looking to buy Bitcoin UK today, the outlook is certainly bright for a bull market going forward.
Bitcoin Price Chart
As you can see from our Bitcoin prediction, there is certainly scope for the digital currency to reach huge valuations over the coming years. The current price chart below highlights the peaks and troughs that price has experienced in recent months, brought about by good news and bad news for the crypto market. Although price has gradually decreased in recent times, there’s no doubting Bitcoin’s potential to rebound.
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One of the main worries for Bitcoin projection going forward is the reported ‘crypto tax’ that would mean the best crypto exchanges would need to report their earnings for taxation. Bitcoin (and other cryptos) aim to provide anonymity for users – so if a law came to pass that requires brokers to document all of their financials, it would eradicate this significant benefit of crypto.
Only time will tell whether this comes to pass or not. The next area of resistance for Bitcoin would be around the $51,000 mark, which is where the price seems to be heading at present. If price can break through this area and consolidate, it could provide the impetus needed to breach the highs of November 2021 – and potentially beyond.
Where to Invest in Bitcoin
Throughout this Bitcoin forecast, we’ve covered all of the bases in terms of price potential and future outlook. However, another crucial part of investing in Bitcoin is choosing an appropriate broker or exchange to facilitate your investment. Similar to when you buy stocks, you’ll need to find a platform that allows you to invest safely and cost-effectively, ensuring your trading is optimised.
Luckily, we’ve conducted in-depth research and testing of the broker options on the market and have found that eToro offers the best platform for users to invest in Bitcoin. Firstly, eToro has a fantastic reputation worldwide, providing regulation from the FCA and ASIC. What’s more, if you are a UK-based trader, your capital will also be covered under the FSCS.
One of the best things about eToro is that the platform does not charge any transaction fees. This means that traders avoid the hefty fees that some other brokers charge, which can be up to 3% of your position size. Instead, eToro’s fee is incorporated into the spread, which is quoted at only 0.75% for BTC trading.
eToro’s minimum deposit is only $10 and can be completed via credit/debit card, bank transfer, or various e-wallets. Notably, eToro accepts PayPal as a deposit method. This means that you can essentially buy Bitcoin with PayPal if you decide to partner with eToro!
Finally, eToro offers numerous handy features for traders, most notably their CopyPortfolio feature. This feature allows traders to invest in a professionally managed portfolio without paying any management fees whatsoever. Crypto traders may be interested in the ‘CryptoPortfolio’, which contains a selection of top digital currencies. An investment in this will provide an effective and optimised way of gaining exposure to the crypto market.
Bitcoin Price Prediction – Conclusion
In conclusion, this article has presented our Bitcoin price prediction over both the short term and long term, ensuring you have a comprehensive understanding of this currency’s outlook. The crypto market was exceptionally volatile in 2021 and has started 2022 in a similar vein, which is to be expected. However, the price prospects for BTC are extremely positive, meaning now could be a fantastic time to consider adding this cryptocurrency to your portfolio.
If you’d like to invest in Bitcoin right now, we’d recommend using eToro. eToro is regulated by numerous top tier entities, ensuring you are protected when investing in cryptocurrency. What’s more, eToro charges no transaction fees when you buy Bitcoin and allows investments from only $10!
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FAQs
What is the price of Bitcoin right now?
At the time of writing in January 2021, the price of Bitcoin is hovering around $41,700. This represents an increase of around 9% from the same date last year.
What drives the price of Bitcoin?
Numerous factors drive Bitcoin’s price, which all relate to supply and demand effects. Things such as institutional adoption, celebrity endorsement, and the ‘hype’ brought about by market news are all things that affect Bitcoin’s price.
Where can I buy Bitcoin?
Most popular brokers and crypto exchanges will allow you to buy Bitcoin, either with FIAT currency or by exchanging one crypto for another. We recommend using eToro to buy Bitcoin, as they don’t charge any transaction fees and allow minimum investments from only $10.
Why is Bitcoin going down?
At present, the Bitcoin price is decreasing due to investors’ fears regarding rumoured interest rate hikes. If rates were to increase, it’ll force investors away from ‘riskier’ assets such as BTC – which is why we are seeing some bearish momentum.
What will Bitcoin be worth by 2022?
Considering our research and analysis, our Bitcoin forecast for 2022 sees the coin being valued beyond the $80,000 mark by the end of the year.
What will Bitcoin be worth in 2025?
Our Bitcoin price prediction for 2025 indicates that Bitcoin could be worth over $100,000 by this point if the coin bounces back and continues on the upwards trajectory showcased through much of 2021.
About Connor Brooke PRO INVESTOR
Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has extensive knowledge in the investing space, and has also written two theses on mutual funds and the UK market.
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