Bitcoin Forecast: 2023 and Beyond

You can find many Bitcoin forecast articles in the market, talking about the future price predictions of this cryptocurrency. Let's explore and learn more about Bitcoin before we discuss Bitcoin forecast or price prediction for the coming years.

Bitcoin overview

Bitcoin is a cryptocurrency, also known as 'digital gold', with no logistic or border constraints.

It's unaffected by the central government pressures and refuses to be chained into defective monetary shackles. Bitcoin (BTC) allows you to store and transfer value in the cryptocurrency market, taking power away from financial institutions. According to our current Bitcoin forecast, Bitcoin’s value will rise by 0.70% and reach $17,264 by January 15, 2023.

Cryptocurrency: Bitcoin

Ticker Symbol: BTC

Price: $21,964.06

Price Change 24h: +2.32%

Price Change 7d: +1.69%

Market cap: $331,049,753,994

Circulating Supply: 19,228,537 BTC

Trading Volume: $20,702,743,176

All-time high: $68,789.63

All-time low: $65.53

BTC ROI: +12618.46%

Bitcoin forecast: technical analysis

The current Bitcoin price is $17,141, with a market cap of $366,203,862,174. Its 24-hour trading volume is valued at $27,097,274,450, with a circulating supply of 19,176,800 BTC. Supply is limited to 21,000,000 tokens.

• Over the last few months, Bitcoin has faced a massive fall. Also, traders and investors are confronting FUD in the crypto market.

• On June 19, 2022, Bitcoin dropped to $17,770 for the first time since December 2020.

• Since November 2021, the cryptocurrency market has lost two-thirds of its market share.

The BTC crypto price has not crossed the $24,890 mark ever since.

As a part of any Bitcoin forecast, many crypto analysts say that this continual fall in the BTC price may reverse the coin's position in the cryptocurrency market with second-placed Ethereum. The great ETH 2.0 merge has happened, aimed at enhancing the network's scalability and speed. With this falling price, will BTC remain the king of crypto? Whether Bitcoin stays extremely profitable will depend on those who hold a big chunk of BTC.

Reasons for Bitcoin’s price fall

To create a proper Bitcoin forecast, we need to understand why Bitcoin's price has declined recently. Many factors affected Bitcoin's price, including supply and demand. Moreover, in the crypto industry, many price fluctuations originate from the high volatility in BTC prices. Here are the main factors that impacted Bitcoin’s price in the recent past:

• Approval of BTC as an official payment means in various countries around the globe.

• BTC’s approval as a financial asset by corporations and companies worldwide.

• Issues related to the legalization of cryptocurrencies at the legislative level.

• Tackling problems like low transaction speed and high service fees.

• The US Federal Reserve policy becoming stricter towards the crypto market.

The crypto winter: can Bitcoin survive it?

It's not just Bitcoin suffering from crypto winter, but the entire cryptocurrency market. The primary reasons are high inflation, Terra LUNA's collapse, hikes in interest rates worldwide, and balance sheet tightening by central banks.

Bitcoin has already started recovering, making trades above $19,000. But crypto experts predict that the crypto winter will last for at least a year before we start seeing any positive outlook. Nonetheless, Bitcoin, as king of cryptocurrencies, is expected to survive this downfall. Experts believe it will emerge stronger, with a long-term improvement for the crypto market. It could be a good time to consider buying Bitcoin.

Bitcoin forecast: price predictions from 2023 to 2030

At the beginning of 2022, Bitcoin's price was around $46,300. In March this year, it reached $47,689. The Bitcoin price has been continuously falling since, killing the hopes of retail and institutional investors.

• GOV Capital’s technical analysis for Bitcoin forecast predicts that the BTC will reach $52,711.06 in one year. Five years down the line, it might even cross $235,503.

• Another analysis from Wallet Investor predicts that the Bitcoin (BTC) future price may reach $47,496.74 by 2027.

• Digital Coin’s Bitcoin forecast indicates that the price will reach $18,833.66 by the end of January 2023.

BTC's expected maximum trading price is $24,199.85. The minimum is $16,909.59. Currently, Bitcoin's value has been trading in a consolidating range because of the bear market scenarios. But the coin will soon get back on track and gain momentum, getting over the bear market.

Look at the BTC price prediction table below for reference.

Bitcoin forecast for 2023: Good idea to buy Bitcoin?

As per our BTC price prediction for 2023, Bitcoin’s maximum expected value is $34,933. Its minimum trading value will hit the $18,188 mark. People looking to trade Bitcoin in 2023 can expect an average price of $26,561 — the price rise is expected to be over 80% by the end of December 2023. Looking at these rising rates of the BTC, we can say that it’s a good idea to buy it as soon as possible to make the most out of it in the future.

BTC forecast: BTC price prediction 2024

According to our Bitcoin price prediction, the average price of BTC in 2024 will be $40,832. In 2024, you can trade Bitcoin at a maximum trading level of $51,438 and a minimum value of $30,225. Look below for clarity.

Bitcoin forecast: BTC price prediction 2025

Based on our Bitcoin forecast, we can say that BTC is all set to have a bright future. In 2025, you can expect the BTC price to rise to $39,512 (lowest) and $62,723 (highest) at the start and end of the year, respectively. Its average price may be $51,118. Look below at the table to see Bitcoin's price for 2025.

Bitcoin’s correlation with other coins

Bitcoin is most positively correlated with these coins:

• Wrapped Bitcoin (WBTC).

• DeFiChain (DFI).

• Nexus Mutual (NXM).

• Ethereum (ETH).

• KuCoin Token (KCS).

Having a positive correlation with other coins signifies that these coins follow the same price trend that of Bitcoin at the same time.

Bitcoin is most negatively correlated with these coins:

• Celsius Network (CEL).

• Waves (WAVES).

• Bitcoin Gold (BTG).

• Fei USD (FEI).

• UNUS SED LEO (LEO).

Bitcoin’s negative correlation with these coins means that the price of these coins typically moves in the opposite direction as that of Bitcoin price at that time.

Bitcoin forecast: final verdict

The fundamental principle of forecasts is that they can't be wholly accurate. Bitcoin forecast is no exception either. While not being accurate completely, we can’t overlook or avoid these forecasts since they lay their foundation on market trends.

Moreover, they come from industry experts, technical analyses, and influencers’ verdicts, bringing some credibility to the table. Looking at the current trends in BTC prices, we can predict that the rate will rise in the coming years. Those who buy Bitcoins now will make the most out of them in a couple of years.