In the last few weeks, Bitcoin price has been fluctuating between $6,250 and $8,250, after gaining massively from its December low of $3242. At the time of writing, the crypto giant is trading at $7,916 with a 24-hour volume of $24 billion. Meanwhile, BTC continues to dominate the cryptocurrency market, having reached its highest total market percentage since December 2017 when it went over 60%. Currently, its dominance stands at 56.3% with a market cap of $140.7 billion.
Bitcoin Price Rise: Why is Bitcoin Going Up?
Crypto experts have given various reasons why Bitcoin is going up. Some of the reasons include:
- The upcoming mining reward halving
- The golden cross
- Market activity
- Increased inflow of institutional money
- Economic and political uncertainty such as the US-China trade war
- Mainstream appeal
How Bitcoin Price Has Changed Over the Last Few Years
Ever since Bitcoin was created by Satoshi Nakamoto back in 2009, the price has been fluctuating regularly. From as low as $0.003, the price of Bitcoin has grown over the last 10 years as its popularity continues to increase. Interestingly, Bitcoin value rose from as low as $200 in 2015 to almost $20,000 in December 2017. At that point, Bitcoin was one of the most popular topics in the media and the biggest trend on the internet. Every analyst was giving their Bitcoin value prediction. This hype made more people to buy Bitcoins leading to a Bitcoin price increase. And with every surge came a new Bitcoin 2018 prediction and higher Bitcoin future predictions. However, the cryptocurrency crashed soon after it reached its All-Time-High.
Factors that Determine Bitcoin Price
One of the characteristics of Bitcoin is its volatility – it can jump or drop in value against the dollar within a very short time. The Bitcoin price prediction today can be very different from the Bitcoin price prediction tomorrow. There are several factors that influence the price of Bitcoins. Understanding how each factor affects Bitcoin coin price can help you make more accurate predictions for Bitcoin. Here are the major factors.
1. Bitcoin Supply and Demand
The price per BTC is fundamentally determined by its demand and supply spectrum. Bitcoin has a limited supply. While new Bitcoins are created every day when miners process blocks of transactions, the Bitcoin supply is set at a maximum of 21 million. The demand for Bitcoins, on the other hand, depends on the awareness about Bitcoin, its use cases, trust among investors, and many other factors. High demand will lead to a Bitcoin price rise, while low demand will lower the price.
2. Regulations and Legal Matters
Government interference is a major concern because it trumps what Bitcoin and other cryptocurrencies stand for, and therefore, government regulations and affirmations can influence the price of Bitcoins. Whenever a government imposes a ban or restriction on the use of Bitcoin, the price drops drastically. For instance, on the 5th of December, 2013, the government of China banned its banks from using Bitcoin. Following that announcement, the price of Bitcoin plunged from nearly $1,100 to $560 by 19th the same month. On the other hand, whenever a government recognizes or accepts the use of crypto as a legal payment, Bitcoin price rises. A case in point is when Japan announced its acceptance of cryptocurrency as a legal payment in April 2017, sparking a surge in Bitcoin price. Therefore, government regulations will have a huge impact on Bitcoin future value.
3. Public Sentiment and Bitcoin Price News
The image that media, investors, analysts, and other stakeholders create about Bitcoin influences how the public will perceive the cryptocurrency. Positive news and price predictions create positive sentiments, and therefore, drive the prices up. On the contrary, negative publicity brings fear and causes investors to sell their coins, causing the prices to drop.
4. Technological Changes
The blockchain technology is still developing and improving on various aspects such as scalability. Therefore, advancements and innovative efforts in technology can influence Bitcoin price. Some new solutions, such as Lightening Network can have a positive effect on the price of Bitcoin.
5. Use Cases
While Bitcoin is the most popular and dominant cryptocurrency, many people are still unsure of how it can be used in the future. Many wonder whether it will be used as a store of wealth, an internationally accepted legal tender, and so on. Change in how people view Bitcoin in regard to its use cases can have a significant effect on its price.
Bitcoin Trend Prediction
As observed above, there are many factors that can impact the value of Bitcoins. Knowing these factors will not help you predict the specific price of Bitcoins but will certainly help in Bitcoin trend forecast and understanding why cryptocurrency is going up or down. Other factors that can influence the value of Bitcoin include forks, cybersecurity threats, speculation, competition, and intentional market manipulation by large players.
Bitcoin Rate Predictions by Famous People and Experts
Many Bitcoin and cryptocurrency watchers and experts have made bold and brave Bitcoin predictions. Here are some predictions from prominent people in the cryptocurrency space.
Joe Davis: Bitcoin Currency Price to Drop to $0
Joe Davis is the head of Vanguard’s investment strategy group. In his 2018 Bitcoin prediction, the economist made a bold claim that Bitcoin will go to a value of zero dollars. In his opinion, Bitcoin does not meet the criteria of a currency, and he considered it a dubious medium of exchange.
Experts’ 2019 Bitcoin Estimates
1. Sonny Singh: $15,000-$20,000
Sonny Singh is the BitPay CCO. His Bitcoin price prediction 2019 December is that the cryptocurrency will reach between $15,000 and $20,000. In his explanation, he says that mainstream financial sector giants such as Intercontinental Exchange (ICE) and Fidelity will get into cryptocurrency products in 2019. He also cited the entry of institutional investors and the launch of a crypto-based exchange-traded fund (ETF) as some of the things that will propel Bitcoin going up. His prediction on Fidelity has already come to pass with the company having created its cryptocurrency platform, Fidelity Digital Assets in October 2019, and is set to begin offering trading for institutional customers.
2. Thomas Lee: $25,000
Thomas Lee is the founder of FundStart Global. His 2019 Bitcoin price prediction is that the cryptocurrency will hit $25,000 before the end of the year. He explains that the difficulty in mining Bitcoin is what will drive the price up.
3. David Drake: $30,000
According to Drake, the chairman of LDJ Capital, cryptocurrency is set for widespread acceptance, and Bitcoin will continue to be dominant. His Bitcoin forecast 2019 is that it will hit $30,000 before the end of the year. He had predicted the cryptocurrency to hit $20,000 before the end of 2018, and with improvements, reach $30,000 in 2019.
4. Jeet Singh: $50,000
In January 2018, Jeet Singh gave his BTC price prediction 2019 claiming that the cryptocurrency would rise up to $50,000. The cryptocurrency portfolio manager was speaking at the World Economic Forum in Davos. He explained that the volatility seen in cryptocurrencies is completely normal, and compared them to the stocks of companies like Apple and Microsoft, which were very volatile in the beginning.
5. Sam Doctor and Tom Lee: $36,000
Sam Doctor and Tom Lee are Co-founders and analysts at Fundsrat and expect Bitcoin price 2019 to rise to $36,000 or somewhere between $20,000 and $60,000. They believe that the price could reach $150,000 when Bitcoin wallets account for 7% of the 4.5 billion Visa holders.
6. Michael Novogratz: $20,000
Michael Novogratz is the founder of Galaxy Digital Ventures LLC, a company that deals with cryptocurrency investments. After making $250 million from his investments in Bitcoin and Ethereum in 2017, his BTC prediction for 2019 is that the cryptocurrency will go as high as $20,000.
Experts Bitcoin Forecast 2020
1. John McAfee: $1,000,000
John McAfee is the creator of the McAfee antivirus software. He is an eccentric businessman and a computer programmer who made millions from his anti-virus software. The tech entrepreneur is a leading proponent of blockchain tech and believes that Bitcoin price 2020 will be $1,000,000.
2. Ronnie Moas: $50,000
Ronnie Moas is a top cryptocurrency analyst and the founder of Standpoint Research, a firm that analyzes investment opportunities. He predicts the price of Bitcoin to hit $28,000 in 2019 and his Bitcoin 2020 prediction is that it will hit $50,000. He cites the high volume of trade on crypto exchanges and the growing interest in digital currencies from large companies as the main reasons behind the rise. He also sees the market cap of all cryptocurrencies bursting up to $2 trillion within the next 10 years.
3. Fran Strajnar: $200,000
Fran Strajnar is the CEO of Brave New Coin, a cryptocurrency research firm. He gave his BTC price prediction for 2020 as $200,000. He argues that the infrastructure is improving, prompting wider adoption for the cryptocurrency, and hence, the price will grow
4. Arthur Hayes
The Co-founder and CEO of Bitmex entered into the crypto market in 2013 and started Bitmex in 2014 with two other specialists. His Bitcoin price prediction 2018 was that Bitcoin would reach $50,000 by the end of the year. However, now he believes that Bitcoin will remain in the bear market until 2020, falling up to $2,000, and then rise to $10,000.
Experts 2025 Bitcoin Stock Price Projections
1. Zhao Dong: $50,000 (2021)
Zhao Dong is a Chinese crypto influencer and one of the biggest Bitcoin traders. He predicts that BTC will hit $50,000 by 2021. The Bitcoin billionaire, who owns a substantial stake in Bitfinex, claimed that the upcoming Bitcoin block reward halving that will occur around May 2020 would be the catalyst behind the rise in Bitcoin price.
2. Tim Draper: $250,000 (2022)
The founder of Draper Associates and DFJ, Tim Draper, is widely regarded as the father of viral marketing mediums such as Skype and Hotmail. The famous American venture capitalist is believed to have bought 30,000 Bitcoins from US Marshals auction in 2014 which had been seized during the Silk Road market bust. After the auction, he correctly predicted that BTC would hit $10,000 within 3 years. He has also claimed many times that he sees Bitcoin reaching $250,000 by 2022.
3. Anthony Pompliano: $275,000 (2024)
Anthony Pompliano, Morgan Creek Digital founder, believes that Bitcoin stands a chance of surpassing the $100,000 boundary and rising up to $275,000 in the next 5 years. He explained that the record-breaking volumes being seen on CME and cryptocurrency exchanges means institutional and retail investors are keen on crypto. He also cited Bitcoin’s scarcity and the ongoing US-China trade war as some of the catalysts for the bull run.
Experts’ Bitcoin Future Value Predictions
1. Kenneth Rogoff: $100 (2028)
Kenneth Rogoff predicts that Bitcoin in 10 years will be worth $100. The Harvard economics professor and former head of the International Monetary Fund voiced his opinion in a CNBC interview and claimed that he sees the cryptocurrency having little use other than money laundering and tax evasion. He also thinks that governments will be against cryptocurrencies.
2. Bill Gates: $0
Bill Gates has never been a fan of Bitcoin or cryptocurrency in general. The Microsoft billionaire explained that digital tokens do not have any intrinsic value in his opinion. He once said that “As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment… I agree I would short it if there was an easy way to do it.”
3. Max Keiser’s BTC Price Estimate: $28,000 – $100,000
Max Keiser, a partner in Heisenberg Capital, had predicted that the price of Bitcoin would surpass the $17,000 in December 2017, and it did. He now predicts that the cryptocurrency will reach $28,000 and proceed to over $100,000 due to its limited supply. On 14th May 2019, Keiser reiterated his statement, claiming that the U.S. Federal Reserves policies will initiate a series of events that will cement Bitcoin’s status as a store of value, and therefore, push the price to $100,000.
4. Bobby Lee: $60,000
According to Bobby Lee, Bitcoin might bottom out in $2019 at around $2,500, then start the next rally in late 2020. The CEO and Co-founder of the exchange BTC China believe the value of Bitcoin will go to $60,000 when Bitcoin reaches a total circulation value of $1 Trillion. He also sees the cryptocurrency rising up to $330,000 in the future.
5. Vinny Lingham: $100,000
Co-founder of Civic, Vinny Lingham, who is also a member of the Bitcoin Foundation, predicts that the value of Bitcoin will appreciate up to $100,000. However, he cautioned that it would not be a smooth ride, so people should expect several boom-and-bust cycles along the way.
6. Trace Mayer: $115,000
Trace Mayer is a known proponent of Bitcoin from its early stages and had predicted Bitcoin to hit $27,000 by 2018. After the rise to $20,000, the commodities investor now believes that Bitcoin will reach $115,000.
7. Cameron Winklevoss: $320,000
The Winklevoss twins are famous for their success in the cryptosphere, having accumulated wealth valued at $1 billion. They now own a U.S. crypto exchange called Gemini, and have recently released their own stablecoin known as Gemini dollar (GUSD). Cameron believes that Bitcoin will hit $320,000 because it has better properties than gold.
8. John Pfeffer’s Bitcoin Projected Value: $700,000
John Pfeffer is a partner at his family firm, Pfeffer Capital. He believes that Bitcoin could reach $700,000 if it manages to replace gold. He sees Bitcoin as the first viable candidate to replace gold as a store of value.
9. Liew Claasen: $40,000
The Bitcoin Foundation executive director believes that Bitcoin is on the right track and will hit $40,000. In his opinion, the cryptocurrency will not grow gradually to that value but will be encounter similar ups and downs seen in the previous years. On the other hand, his view on altcoins is not as optimistic as he expects 90% of them to fail.
Bitcoin Forecast by Year
Bitcoin Prediction 2019
After dropping to $3,000 in December 2018, everyone wanted to know if Bitcoin price would recover in 2019. Some thought it will crash further in 2019, while others believed the bull run would start. Well, the value of Bitcoin had doubled by the second of May 2019 and reached its 2019 high of $8,320. At the time of writing, the price per BTC is $7,916.
So, will Bitcoin go up or down?
While every person has their Bitcoin 2019 price prediction, no one really knows where BTC price will go in 2019. After the recent resurgence, most people in the cryptosphere are wondering the same thing – “is Bitcoin going up?” A lot of analysts are very optimistic that the bull run has started and we might see new highs before the end of the year. However, we all know things can change pretty quickly. Proponents argue that with the introduction of Bitcoin’s Lightning Network and the entry of big players such as NASDAQ, Intercontinental Exchange (ICE), and Fidelity, 2019 looks very bullish. An ETF is also another factor that can affect the Bitcoin price in 2019.
From a technical point of view, some analysts point out that the rounding bottom experienced between December 2018 and April 2019, coupled with the breakout from the diagonal resistance that has kept the market bearish since January 2018 signal a trend reversal. On the way up, the coin is poised to face several resistance levels, but most analysts’ Bitcoin projections 2019 range between $10,000 and $30,000. The more optimistic say that there’s a chance it could go as high as $60,000. Others such as Saxo Bank think that it will rise then crash, losing more than 80% of its value.
Bitcoin Price Prediction 2020
How much will Bitcoin be worth in 2020?
The high volatility of Bitcoin prices experienced so far in 2019 has made BTC price forecast a challenge. However, going by analysts Bitcoin projections 2020, the price is likely to continue rising. Other than the factors of technological developments and adoption, 2020 has one event that analysts claim will affect its price significantly – the third Bitcoin halving.
Bitcoin Expectations after the Halving
It is expected that Bitcoin price will rise just like it has done after the previous two halvings. Therefore, the question everyone is asking is, “What will Bitcoin be worth in 2020?” The most optimistic Bitcoin prediction 2020 is John McAfee’s Bitcoin price projection of hitting $1,000,000. However, from most analysts’ projections, the expected price of Bitcoin in 2020 is $20,000 and $75,000.
Bitcoin Price Prediction Chart after the Halving / Bitcoin Future Price Chart
Bitcoin Price Prediction in 5 Years and in 2025
What will Bitcoin be worth in 5 years?
Based on the mere fact that Bitcoin has a limited supply and its popularity continues to rise, analysts believe that Bitcoin price in 2025 will be quite high. However, with the bull runs and bear runs seen in the past, it is hard to give accurate cryptocurrency price predictions for Bitcoin 2025. The price will also depend on many factors, such as mass adoption and government regulation. However, Anthony Pompiliano believes Bitcoin will hit $275,000 in the next 5 years. Tim Draper shares similar sentiments claiming that the coin will reach $220,000 by 2022.
Bitcoin Price Prediction in 10 Years and in 2030
What will be the Bitcoin price in 10 years?
Winklevoss brothers believe that the total market cap of Bitcoin will reach $5 trillion by 2030s. Jeremy Liew believes Bitcoin will be worth $500,000 by 2030 and the CEO and co-founder of Blockchain.com, Peter Smith holds the same view. Kim Dotcom, the founder of Megaupload, thinks Bitcoin price 2030 will be $100,000. The founder of Social Capital, Hamath Palihapitiya, predicts $1 million by 2030.
Bitcoin Price Prediction 2050
Bitcoin Future Price
By 2050, most Bitcoin proponents and enthusiasts believe it will be the world’s dominant form of money and will have replaced gold as a store of value. They believe that Bitcoin will be worth somewhere between $500,000 and $1 million.
Bitcoin Max Price Prediction
Some crypto experts think that Bitcoin price will exceed $1 million at some point. IBM VP, Jesse Lund, thinks it could hit seven figures. Wences Casares, a director at Paypal and Xapo CEO, predicts Bitcoin to be worth $1 million in 7 to 10 years.
However, this is if it will still be around. Some people believe that Bitcoin is a bubble waiting to burst. The likes of Warren Buffet, Jamie Dimon, Bill Gates, and Charlie Munger believe it Bitcoin will not last this long or it will be worthless.
Final Thoughts: Where is Bitcoin Going?
It’s clear that most crypto experts expect the price of Bitcoin to rise over the years and Bitcoin to remain the most dominant cryptocurrency in the market.
Will Bitcoin go back up?
In the short term, most analysts believe Bitcoin go back up and surpass the previous ATH and reach around $30,000 by 2020.
Will the value of Bitcoins go up?
In the long-term, its price can surge to over $100,000. With more technological developments and mass adoption, Bitcoin could become a mode of payment and store of value. However, some experts do not believe Bitcoin has a future but think the cryptocurrency will be worthless in a few years.
Therefore, it’s no secret that the price of Bitcoin is still quite volatile. A few months ago one Bitcoin was worth $3,000, and now it’s almost triple. This volatility and the uncertainty of various issues is what makes Bitcoin price prediction challenging. Various factors, such as news, government regulations, technological developments, and mass adoption, influence the price of Bitcoin, both short-term and long-term. Knowing these factors can help you come up with an informed Bitcoin price forecast. Before you decide to invest in Bitcoin, do your own research, and if possible, talk to a financial advisor.