Everyone has heard of Bitcoin. As the coin that started the cryptocurrency movement, Bitcoin has positioned itself at the top of the pile – and with the tides turning after a rocky few months, Bitcoin looks set to experience some remarkable value increases over the months and years to come.
In this article, we’ll present our Bitcoin Price Prediction, covering both the short and long-term outlook and highlighting the best place to buy Bitcoin – with zero commissions!
Bitcoin Price Prediction 2021 to 2022
If you’re looking for a quick Bitcoin price prediction, then look no further. This section presents our Bitcoin price prediction over various timeframes, determined via in-depth research and analysis. The remainder of this article will cover Bitcoin’s price in great detail, discussing potential outcomes and highlighting the future outlook.
- One Month – Late July and early August have seen Bitcoin recover from a poor few months. Our Bitcoin prediction is that the currency will head even higher towards the $55,000 range over the next month.
- Three Months – With the current Bitcoin price showcasing strong bullish momentum, we feel there is certainly scope to head back to the highs of $64,000 experienced in April 2021.
- Start of 2022 – By the beginning of 2022, the price of Bitcoin could have breached all-time highs and be heading towards the $70,000 mark. For this to occur, expect some sort of pullback before a final bullish push.
Bitcoin Price History – the Story of 2021 So Far
If you are wondering how to buy cryptocurrency with the aim of investing in Bitcoin, then it’s a good idea to look at the Bitcoin price history to determine how we arrived at this point. We’ll start with a brief overview of what Bitcoin actually is before diving into the Bitcoin price live for some analysis.
Put simply, Bitcoin is a decentralised currency, which means that it can be exchanged between users directly using the Bitcoin network. All Bitcoin transfers are verified using what’s known as a ‘ledger’, which uses blockchain technology. Through this process, intermediaries such as banks can be completely cut out of the exchange process, leading to greater anonymity and fewer fees.
Bitcoin has been in use since 2009 and has grown exponentially since then. As more and more people began to buy Bitcoin, the price started to increase in value – with 2017 being the breakout year for the digital currency. Bitcoin reached the $19,000 mark in late 2017 but plummeted immediately afterwards as the hype began to die down.
However, momentum began to pick up towards the end of 2020, as newer and quicker ways of conducting transactions became necessary. Large numbers of retail traders started to invest in Bitcoin, forcing the price higher. By early January 2021, the Bitcoin price was sitting at $41,800, representing an all-time high for the crypto.
This upwards momentum continued until April 2021, helping Bitcoin reach an astounding value of $64,800. At this point, investors around the world were making a Bitcoin price forecast that the currency could go on to reach a $100,000 valuation! However, it wasn’t to be, and Bitcoin went on to lose around 54% of its value between April and July.
There were various factors at play that caused the value to decrease. Fortune reported that Coinbase going public was one of the main contributors, along with the regulatory pressures from China that forced financial institutions to stop providing cryptocurrency services. Furthermore, Elon Musk also announced that Tesla would stop accepting Bitcoin as payment for vehicles due to the environmental impact of mining Bitcoin.
However, after a strong rally in the past month, the Bitcoin price today now sits at $45,900. This increase is even more remarkable considering the current speculation that the US government is set to introduce some strict regulations that could stifle cryptocurrency trading. At the time of writing, the bullish momentum showcased by Bitcoin shows no signs of stopping – leading many traders to increase their investment in the digital currency.
Bitcoin Price Forecast
Now that you have an idea of what Bitcoin is and how it got to this point, let’s look at our Bitcoin forecast for the remainder of the year. This section is broken down into technical and fundamental factors, ensuring you have a complete overview of how we made our decision regarding our Bitcoin forecast.
Technical
As noted in the section above, the Bitcoin price has begun to increase over the past month, following a drastic drop since April. Investors have been flocking to the best trading platforms to get involved in the bull run, which shows no signs of stopping at present. Looking at the Bitcoin price chart, we can see that the currency breezed past the strong resistance at the $40,000 level and is using that momentum to head towards the $50,000 mark.
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This level offers strong resistance as it represents a psychological level that price must break. Expect some minor pullbacks around this area as price gathers momentum before proceeding through. If $50,000 is broken, there’s a good chance that price could return to this area and form support here, providing a base for a further push.
Our Bitcoin prediction 2021 sees the currency continue to head higher and push towards the highs of the $64,000 level experienced in April. As BTC goes higher, this will undoubtedly positively impact other altcoins such as Ethereum, XRP, Litecoin, Dogecoin, Bitcoin Cash and more. Therefore, we could see solid performance in the cryptocurrency market to round off 2021.
Fundamental
The great thing about Bitcoin is that it has a strong use case, which sets it apart from numerous other cryptos. If you were to buy Dogecoin, you’d be buying simply to speculate on price increases. However, more and more entities are beginning to accept Bitcoin as a payment method, which will mean great things for price going forward.
CoinTelegraph recently reported that Amazon is ready to announce that they will be accepting Bitcoin as a payment method on their online platform. Amazon did deny these rumours initially; however, they persisted, and Amazon has even begun hiring blockchain-based employees.
Furthermore, recent rumours hinted that Apple had secretly purchased around $2.5 billion worth of Bitcoin. Although these rumours have not been confirmed, this would be another massive boost to Bitcoin’s credibility. If we continue to see companies use Bitcoin in their operations, it’ll undoubtedly push the Bitcoin price higher.
Bitcoin Price Prediction 2025 – Long Term Outlook
Our Bitcoin forecast over the long term is very optimistic. As noted in the section above, Bitcoin does have some influential technical analysis and fundamental factors that go in its favour. The previous all-time highs will naturally draw the Bitcoin price to this level, representing an increase of 41% from today’s price.
Major players in the crypto space, such as Elon Musk and Jack Dorsey, have sung Bitcoin’s praises recently. The fact that people of this magnitude are talking up Bitcoin indicates the currency’s value. Furthermore, with huge companies such as Amazon and Apple seemingly adopting Bitcoin, the future looks bright.
It’s also worth pointing out potential risks within this Bitcoin stock forecast. For one, the constant regulation from China is always a threat to Bitcoin trading. The Chinese economy looks set to play a significant part on the global stage in the future – and if Bitcoin is not adopted widely by China, it could pose significant problems. In addition, the persisting rumours about US regulation of Bitcoin don’t seem to be going away, which would definitely affect the coin’s price if they proved to be true.
With these points in mind, our Bitcoin price prediction 2025 could see the digital currency head towards the fabled $100,000 mark. The Bitcoin journey will never be plain sailing, so there will undoubtedly be stumbling blocks along the way. However, $100,000 is certainly a reasonable target given the technical and fundamental factors in play.
A recent Forbes article suggested that Bitcoin could perhaps be worth over $300,000 by 2025. Although this is a possibility, we believe Bitcoin’s upwards trajectory may be a little slower than that.
Our Bitcoin price prediction 2030 hints at a much higher valuation for the currency. Over the next nine years, we can foresee a shift towards digital currencies, removing the need for traditional FIAT currencies. Due to Bitcoin being the ‘first mover’ in this area, it’s natural that institutions will gravitate towards this cryptocurrency over other ones.
If this occurs, there is undoubtedly scope for Bitcoin to head towards the $400,000 mark. As a disclaimer, it’s hard to determine an exact figure as there are no technical factors to base this on. However, if you are looking to buy Bitcoin UK today, the outlook is certainly bright for a bull market going forward.
Bitcoin Price Chart
As you can see from our Bitcoin prediction, there is certainly scope for the digital currency to reach huge valuations over the coming years. The current price chart below highlights the peaks and troughs that price has experienced in recent months, brought about by good news and bad news for the crypto market. However, the last month has seen some consistency for Bitcoin’s price, leading many to state that this could be the next bull run.
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One of the main worries for Bitcoin going forward is the reported ‘crypto tax’ that would mean the best crypto exchanges would need to report their earnings for taxation. Bitcoin (and other cryptos) aim to provide anonymity for users – so if a law came to pass that requires brokers to document all of their financials, it would eradicate this significant benefit of crypto.
Only time will tell whether this comes to pass or not. The next major resistance for Bitcoin is around the $58,000 mark, which is where the price seems to be heading at present. If price can break through this area and consolidate, it could provide the impetus needed to breach the highs of April – and potentially beyond.
Where to Invest in Bitcoin
Throughout this Bitcoin forecast, we’ve covered all of the bases in terms of price potential and future outlook. However, another crucial part of investing in Bitcoin is choosing an appropriate broker or exchange to facilitate your investment. Similar to when you buy stocks, you’ll need to find a platform that allows you to invest safely and cost-effectively, ensuring your trading is optimised.
Luckily, we’ve conducted in-depth research and testing of the broker options on the market and have found that eToro offers the best platform for users to invest in Bitcoin. Firstly, eToro has a fantastic reputation worldwide, providing regulation from the FCA and ASIC. What’s more, if you are a UK-based trader, your capital will also be covered under the FSCS.
One of the best things about eToro is that they use a 0% commission fee structure. This means that traders avoid the hefty transaction fees that other brokers charge, which can be up to 3% of your position size. Instead, eToro’s fee is incorporated into the spread, which tends to be very tight during peak trading hours.
eToro’s minimum deposit is only $50 and can be completed via credit/debit card, bank transfer, or various e-wallets. Notably, eToro accepts PayPal as a deposit method. This means that you can essentially buy Bitcoin with PayPal if you decide to partner with eToro!
Finally, eToro offers numerous handy features for traders, most notably their CopyPortfolio feature. This feature allows traders to invest in a professionally managed portfolio without paying any management fees whatsoever. Crypto traders may be interested in the ‘CryptoPortfolio’, which contains a selection of top digital currencies. An investment in this will provide an effective and optimised way of gaining exposure to the crypto market.
Bitcoin Price Prediction – Conclusion
In conclusion, this article has presented our Bitcoin price prediction over both the short term and long term, ensuring you have a comprehensive understanding of this currency’s outlook. The crypto market has been exceptionally volatile in 2021 so far, which is to be expected. However, as Bitcoin’s price begins to show upwards momentum, now could be a great time to add this crypto to your investment portfolio.
If you’d like to invest in Bitcoin right now, we’d recommend using eToro. eToro is regulated by numerous top tier entities, ensuring you are protected when investing in cryptocurrency. What’s more, eToro charges no commissions when you buy Bitcoin and allows investments from only $50!
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FAQs
What is the price of Bitcoin right now?
At the time of writing, the price of Bitcoin is $46,100. This represents an increase of 58.27% since the turn of the year.
What drives the price of Bitcoin?
Numerous factors drive Bitcoin’s price, which all relate to supply and demand effects. Things such as institutional adoption, celebrity endorsement, and the ‘hype’ brought about by market news are all things that affect Bitcoin’s price.
Where can I buy Bitcoin?
Most popular brokers and crypto exchanges will allow you to buy Bitcoin, either with FIAT currency or by exchanging one crypto for another. We recommend using eToro to buy Bitcoin, as they don’t charge any commissions and allow minimum investments from only $50.
Why is Bitcoin going up?
At present, the Bitcoin price is rising due to strong rumours that Amazon and Apple are set to adopt the crypto. These rumours have caused substantial buy-ins from retail traders, pushing prices higher.
What will Bitcoin be worth by 2022?
Considering our research and analysis, our Bitcoin forecast for 2022 sees the coin being valued at around the $70,000 mark.
What will Bitcoin be worth in 2025?
Our Bitcoin price prediction for 2025 indicates that Bitcoin could be worth over $100,000 by this point if the coin continues on the upwards trajectory it is on.
About Connor Brooke PRO INVESTOR
Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has extensive knowledge in the investing space, and has also written two theses on mutual funds and the UK market.
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