Bitcoin Price Prediction

Bitcoin has taken over the financial and investment worlds over the last few years with the unbelievable returns it can provide. However, it has seen a downtrend in recent times. Many users are worried about the future of Bitcoin and whether it is time to buy more or sell. What will be the price of Bitcoin over the next few years? Read more to know.

How Much Is A Bitcoin Worth?

At the time of writing, Bitcoin is trading at $17,776. This is much lower than its all-time high of $68,789 that it hit on 10th November 2021. However, it still remains a popular choice with investors. So what affects the price of a bitcoin?

Being the market leader, Bitcoin sets the trend for the rest of the crypto world. This trend can be based on news related to Bitcoin and other popular crypto tokens or even on general economic conditions.

For example, news of large crypto lending firms declaring bankruptcy is worrying for the market and sends Bitcoin on a downward trend. On the other hand, news of a country adopting Bitcoin as legal tender or a major company accepting payments in crypto can send its prices soaring.

Bitcoin (BTC) Price and Technical Analysis

Current Price (As of 14th December 2022)$17,77650 Day SMA$17,831100 Day SMA$18,712200 Day SMA$20,77624-hour volume$ 67.68 Million14-day Relative Strength Index58.65Fear and Greed Index31 (Fear)

Bitcoin Price Analysis 2022

2022 has been a rough year for Bitcoin. It started the year at $46,310 but soon crashed to less than $33,500. It oscillated between $45,000 and $35,000 between Jan and March before peaking again at $47,900.

June onwards, the entire crypto market has been in a slump. The failure of large crypto firms like Three Arrows Capital and Celsius marked a steep decline for crypto, with Bitcoin falling over 60% between April and June.

Since then, Bitcoin has experienced a short recovery period in August but came back down to a price band of $22,000 and $19,000. The continued low price level is exacerbated by global economic conditions and the possibility of a future recession.

Bitcoin predictions remain between $16,000-$18,000 for the year 2022, considering investor sentiment and financial conditions worldwide. In the last month, Bitcoin has remained mostly in the green. The market is regularly breaching $17,000 but must convert this into a new support level to experience partial recovery by December 2022.

Bitcoin year-to-date price chart.Source: Trading View

Bitcoin Technical Analysis For December 2022

Bitcoin one-month price chart. Source: Trading View

Bitcoin has been moving in a sideways trend for the past 1 month. BTC was trading at $16,831 on November 13th and is at $17,776 on December 14th. This shows an upward movement of 5.61%

The Bitcoin price USD value has not moved in sync with the falling US equity market, which is a good sign

Bitcoin continues to trade in the narrow range of $16,700 to $17,500

$17,550 will act as a key resistance. If this resistance can be turned into a support line by the bulls, we could see an upward trend

Bitcoin Price Prediction 2023

Experts believe that Bitcoin will begin to gain ground in 2023. It is expected that economic conditions will also improve in the second half of the year, thus prompting more investment into the crypto market.

Assuming Bitcoin can maintain a price range of $17,000-$18,000 by the end of 2022, analysts predict Bitcoin can reach anywhere between $33,000 and $39,000 within 2023.

Bitcoin Price Prediction 2024

The possibility of Bitcoin going through a bullish run is high as per analysts. As experts believe that Bitcoin will gain ground in 2023, this trend is expected to follow in 2024 provided that major macroeconomic factors remain constant.

Each time Bitcoin reaches its key support, it is known to rebound back. The prices are expected to surge forward from its range of $ 34,500 to $ 35,500 at the end of 2023.

Bitcoin Price Prediction 2025

After looking at previous price cycles, realistic Bitcoin predictions tell that it can hit a new peak by 2025, crossing $70,000 before settling down to $65,000. Some highly optimistic analysts also predict that a massive bull market after economic recovery in 2023 and 2024 can push Bitcoin beyond the $70,000 point by 2025.

Is Bitcoin A Good Investment?

Bitcoin has been the market leader for crypto since its creation in 2009. It has continued to dominate trading and investor attention even as new projects emerge. While economic and market sentiment factors have pushed it down this year, it remains to be the most popular choice.

Should I Invest In Bitcoin?

This question depends on your risk appetite. Bitcoins price prediction remains positive, but the crypto market is inherently volatile. You may see your invested value reduce before it increases.

Another consideration is your investment horizon. Since most analysts believe recovery may take 6 months to a year, your portfolio must be committed for long enough to experience the gains.

The crypto market’s volatility does not change the fact that Bitcoin is a fundamentally strong asset with tremendous potential. The trust in Bitcoin remains strong even today. In fact, close to 60% of the Bitcoin held by investors has not moved since the beginning of 2022 even though the price has corrected from its all-time high. This shows that Bitcoin is here to stay and transform the way we understand investments and money.

You can now buy Bitcoin on ZebPay. Keep yourself up to date with the latest crypto news on ZebPay blogs.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The views, thoughts, and opinions expressed in the article belong solely to the author, and not to ZebPay or the author’s employer or other groups or individuals. ZebPay shall not be held liable for any acts or omissions, or losses incurred by the investors. ZebPay has not received any compensation in cash or kind for the above article and the article is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

The post Bitcoin Price Prediction appeared first on ZebPay.

Crypto Pulpit