Key Takeaways
Bitcoin Price Pressure: BTC is under pressure to fall towards $54,000.
2024 End Forecast: BTC price is expected to reach $100,000 by the end of 2024 due to the bullish sentiment after the halving event.
2030 Prediction: BTC price could reach $270,593 as institutional adoption increases.
Bitcoin price has once again rebounded from the $60,000 mark, marking the third bullish reversal this year. The pattern is supported by various bullish indicators and technical data, suggesting a possible trend reversal, rekindling predictions that Bitcoin could reach $100,000.
As the second quarter ended on a subdued note, the third quarter began with a breakout rally that is expected to quickly surpass $70,000. Starting from the crucial $60,000 support level, the market has growing hopes for the arrival of a sustained bull run.
CryptoQuant CEO Ki Young Ju noted in a recent X post that in 2020, Bitcoin hovered around $10,000 for six months before surging to $64,000 in 2021. Looking into 2024, a similar pattern is emerging, with $1 billion flowing into new whale wallets every day.
Despite mixed spot Bitcoin ETF flows, U.S. Bitcoin sentiment remains bullish as BTC HODLers anticipate a sustained rally above $75,000. This has analysts wondering: Will this push Bitcoin prices above $100,000?
Technical Analysis
Since the single-needle bottom of $53,485 on July 5, the market has rebounded to $58,475. However, the support level that has not been broken through many times has instantly become pressure. From the weekly level, it is necessary to continue to clean up. The MACD fast and slow lines will still come down to the zero axis. Turning upward is the signal of reversal. The daily level is currently oscillating around the box around $54,000-58,400. It is expected that there will be one last drop and it is not far from the bottom.
Bitcoin Price Analysis
Current price: $55,814, down more than 2.8% in the past 24 hours.
RSI: In the oversold territory of 26, suggesting bearish pressure is imminent.
SMA: Indicates volatility in the coming hours.
Long target
If Bitcoin can maintain its momentum and break the $58,855 resistance, it will be expected to fuel a bullish rally to $64,462. If the bulls fail to trigger a surge, the BTC price could break below the immediate support at $53,350, which could start a bearish trend to $49,782.
Long-term investment outlook
As multiple institutions continue to accumulate BTC and Bitcoin's recognition continues to increase around the world, the long-term prospects of Bitcoin are promising.
Bitcoin Price Prediction 2024
Post-halving impact: Bitcoin spot ETFs are expected to become the main driver of Bitcoin prices in 2024.
Market Sentiment: Bullish sentiment increases, predicting that BTC price may reach $100,000 during this period.
Bitcoin Price Prediction 2025-2030
2025: Bitcoin price is expected to surge to $160,000, with a minimum price of $95,000.
2026: BTC price is expected to be as high as $185,000 and as low as $115,000.
2027: The predicted minimum price of Bitcoin could be $140,491 and the maximum could be $216,738.
2028: Bitcoin’s price is expected to reach $244,142, with an average price of about $185,068 for the year.
2029: Bitcoin is expected to be worth $255,321.
2030: The forecast shows that the Bitcoin price may start from a minimum of $225,903 and may rise to a maximum of $270,593.
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Analyst Views
CoinCodex: Predicts that Bitcoin price could reach $158,827 by 2025.
Cathie Wood of Ark Invest: Predicts that by 2030, the price of Bitcoin could reach $600,000 or even $1.5 million.
Mike McGlone of Bloomberg Industry Research: Bitcoin price is expected to reach $100,000 by 2030.
Robert Kiyosaki: Predicts Bitcoin price to reach $120,000 by the end of 2024.
in conclusion
Bitcoin's future market potential depends on its buying demand, regulation, and investor sentiment to hold for the long term. We expect Bitcoin prices to hit a high of $110,000 by the end of 2024.
