At the time of writing, the Bitcoin price today is hovering around the $31,500 level, following a sustained downtrend over the past few months. To help provide an overview of BTC’s long-term outlook, presented below is our price forecast for the years ahead:
End of 2022 – Bitcoin’s value has dropped by around 50% in the past two months, driven by the market’s prevailing ‘risk-off’ sentiment. However, BTC has rejected the $20,000 level on the daily timeframe – meaning we could see a return to the $32,000 region if any bullish momentum is sustained.
End of 2023 – Once the Bitcoin stock price begins a bull run, it can sustain itself for a period of weeks (or even months). Thus, assuming the momentum continues, we could see BTC return to the $69,000 level by the end of 2023.
End of 2025 – Over the coming years, although some of the best altcoins may develop better utility than Bitcoin, this cryptocurrency should retain its ranking due to its ‘first mover’ status. Due to this, our Bitcoin forecast estimates the coin could reach a value of $80,000 by the end of 2025.
End of 2030 – With the rate of crypto adoption showing no signs of slowing, there’s scope for BTC to become more widely accepted by merchants when it comes to paying for goods and services. Should this occur, there’s undoubtedly scope that Bitcoin could surpass the $100,000 level and reach $120,000 by 2030.
Bitcoin Price History
BTC LogoAs the first cryptocurrency to hit the mainstream, Bitcoin has broken down many walls in the space and created a pathway for other projects to flourish. Although BTC was thought of as the ‘best’ crypto for a long time, other coins have sprung up that possess appealing use cases that have taken the attention away from Bitcoin. However, many investors still look to buy Bitcoin due to its value potential and low volatility relative to other coins.
In its most basic sense, Bitcoin is a decentralized peer-to-peer (P2P) digital currency that verifies transactions through blockchain technology. This technology is widely used in today’s cryptocurrency market, but back in 2009, when BTC was launched, the concept was alien to most industries.
Bitcoin’s creator, Satoshi Nakamoto, has remained anonymous since publishing his famous whitepaper in 2008, in which he detailed the specifics of how Bitcoin would function. BTC’s first-ever block was mined in early 2009, and the coin immediately began picking up traction from tech-savvy students and programmers. Nakamoto then handed over control of the code to another developer in 2010 and has not been seen or heard from since.