Bitcoin (BTC) price today trades at $67,788.0 as of 3 PM. BTC price hit a daily high of $67,928.0 today after sliding 2.75% on October 24.
Why Bitcoin Price is Rising Today?
Bitcoin price dropped 0.04% today and currently auctions around $66,890 on October 24, 2024. Since the weekend rally, BTC has been on a downtrend and continues to shed as investors sell. Although there was a brief rally to $67,600 in the late New York trading session, the overall trend remains bearish.
Short-term Bitcoin Price Performance is Bearish
*bitcoin price updated as of 3 PM.
Price of BTC trades at $66,990, bringing the year-to-date gain from 56% on October 20 to 52% as of October 24. Although many altcoins have shot up in excess of triple digits, Bitcoin has yet to do the same. Ethereum price’s YTD performance stands at 7.13% and is well below BTC.
Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives like digital gold, inflation hedge, uncorrelated asset, have kept BTC at the forefront of the crypto market since its inception in 2009.
Bullish Historical Bitcoin Price Action to Continue in Q4, 2024
As Bitcoin price continues its seven-month consolidation, investors need to focus on diminishing YTD returns for BTC that has dropped from 56% on October 20 to 52% as of this writing. Investors can expect this number to remain uncertain in the short term. However, the first of November could bring with it massive volatility due to the conclusion of the US presidential elections. Many industry veterans speculate that cryptocurrencies will likely rally regardless of who wins the elections. Regardless, if the bull run kickstarts in November, investors can expect a new ATH by December and Bitcoin’s market capitalization, which stands at $1,340.0 billion, to push toward the $2 trillion mark.
This confidence comes due to the fact that Bitcoin is currently in the fourth quarter, which is the most bullish phase through the year.
Bitcoin: The Largest Cryptocurrency
Together with Ethereum, the duo constitutes nearly 70% of the total cryptocurrency market capitalization which stands at $2.40 trillion. Out of that, Bitcoin’s market cap stands at $1,340.0 billion, significantly higher than Ethereum’s $314 billion.
Despite the seven-month consolidation, Bitcoin’s $1.3 trillion market cap continues to dominate popular cryptos like Solana (SOL) and Ripple (XRP), whose market capitalization hovers around $78 billion and $30 billion.
BTC Trading Volume
The short-term outlook for BTC is bearish, but Wednesday’s late New York session rally promises a potential pullback to the upside. A closer look at BTC’s trading volume shows that it is $38.7 billion, and most of this is contributed by Binance, one of the largest cryptocurrency exchanges. This platform alone contributes about 11% to the spot trading volume and nearly 41% to the perpetual trading volume. Other exchanges, like OKX, Bitget, etc, follow Binance.
Major Bitcoin Upgrades
With a market cap of $1.3 trillion, it is necessary for the network to remain secure, decentralized and scalable. This is possible by upgrading the Bitcoin network on a regular basis.
Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.
Bitcoin Network Upgrades Since 2009
Here are some key milestone upgrades to the Bitcoin network over the past decade.
2017-2019
2015-2016
2013-2014
2010-2012
2009-2010
Bitcoin Price Prediction & Trends
The recent downtrend in Bitcoin price can be attributed to the ongoing seven-month consolidation. With the US presidential election coming to an end, investors can expect a breakout from this rangebound movement. A conclusion to this sideways move will be massive and highly volatile and could target liquidity on either side before heading to a new all-time high (ATH).
As a result, the next few weeks are critical in setting the tone for Bitcoin and the rest of the crypto markets.
Bitcoin Price Forecast For Next Month
| Date | Price | Change |
|---|---|---|
| October 16, 2024 | $68,424 | 3.04% |
| October 17, 2024 | $73,885 | 11.26% |
| October 18, 2024 | $76,476 | 15.16% |
| October 19, 2024 | $77,293 | 16.39% |
| October 20, 2024 | $78,415 | 18.08% |
| October 21, 2024 | $79,327 | 19.45% |
| October 22, 2024 | $80,179 | 20.74% |
| October 23, 2024 | $80,978 | 21.94% |
| October 24, 2024 | $80,840 | 21.73% |
| October 25, 2024 | $79,470 | 19.67% |
| October 26, 2024 | $77,725 | 17.04% |
| October 27, 2024 | $76,910 | 15.81% |
| October 28, 2024 | $77,225 | 16.29% |
| October 29, 2024 | $79,982 | 20.44% |
| October 30, 2024 | $85,101 | 28.15% |
| October 31, 2024 | $87,093 | 31.15% |
| November 01, 2024 | $87,885 | 32.34% |
| November 02, 2024 | $87,902 | 32.37% |
| November 03, 2024 | $87,406 | 31.62% |
| November 04, 2024 | $87,216 | 31.33% |
| November 05, 2024 | $87,399 | 31.61% |
| November 06, 2024 | $87,871 | 32.32% |
| November 07, 2024 | $87,962 | 32.46% |
| November 08, 2024 | $88,423 | 33.15% |
| November 09, 2024 | $89,098 | 34.17% |
| November 10, 2024 | $89,912 | 35.39% |
| November 11, 2024 | $89,276 | 34.44% |
| November 12, 2024 | $89,923 | 35.41% |
| November 13, 2024 | $91,603 | 37.94% |
| November 14, 2024 | $92,226 | 38.88% |
Based on Coingape’s Bitcoin price prediction, investors can expect a 31.15% rally from BTC in the next week, hinting that BTC price would trade around $87,093 on October 31. In a month, however, the largest crypto by market cap, could be exchanging hands at around $92k.
What to Expect From Bitcoin Price Between 2025 and 2029
| January | $64,079.99 | $96,011.97 | $80,045.98 | 28.7% |
| February | $67,376.97 | $96,338.54 | $81,857.76 | 31.7% |
| March | $70,673.96 | $96,665.12 | $83,669.54 | 34.6% |
| April | $73,970.94 | $96,991.69 | $85,481.32 | 37.5% |
| May | $77,267.93 | $97,318.26 | $87,293.10 | 40.4% |
| June | $80,564.92 | $97,644.83 | $89,104.88 | 43.3% |
| July | $83,861.90 | $97,971.40 | $90,916.65 | 46.2% |
| August | $87,158.89 | $98,297.97 | $92,728.43 | 49.1% |
| September | $90,455.87 | $98,624.55 | $94,540.21 | 52.1% |
| October | $93,752.86 | $98,951.12 | $96,351.99 | 55% |
| November | $97,049.84 | $99,277.69 | $98,163.77 | 57.9% |
| December | $100,346.83 | $99,604.26 | $99,975.55 | 60.8% |
| All Time | $82,213.41 | $97,808.12 | $90,010.76 | 44.8% |
| January | $103,147.68 | $102,868.91 | $105,266.25 | 69.3% |
| February | $105,948.53 | $106,133.55 | $110,556.96 | 77.8% |
| March | $108,749.37 | $109,398.20 | $115,847.66 | 86.3% |
| April | $111,550.22 | $112,662.84 | $121,138.37 | 94.8% |
| May | $114,351.07 | $115,927.49 | $126,429.07 | 103.4% |
| June | $117,151.92 | $119,192.13 | $131,719.78 | 111.9% |
| July | $119,952.76 | $122,456.78 | $137,010.48 | 120.4% |
| August | $122,753.61 | $125,721.42 | $142,301.18 | 128.9% |
| September | $125,554.46 | $128,986.07 | $147,591.89 | 137.4% |
| October | $128,355.31 | $132,250.71 | $152,882.59 | 145.9% |
| November | $131,156.15 | $135,515.36 | $158,173.30 | 154.4% |
| December | $133,957 | $138,780 | $163,464 | 162.9% |
| All Time | $118,552.34 | $120,824.45 | $134,365.13 | 116.1% |
| January | $139,801.17 | $144,684.75 | $169,276.92 | 172.3% |
| February | $145,645.33 | $150,589.50 | $175,089.83 | 181.6% |
| March | $151,489.50 | $156,494.25 | $180,902.75 | 191% |
| April | $157,333.67 | $162,399 | $186,715.67 | 200.3% |
| May | $163,177.83 | $168,303.75 | $192,528.58 | 209.7% |
| June | $169,022 | $174,208.50 | $198,341.50 | 219% |
| July | $174,866.17 | $180,113.25 | $204,154.42 | 228.4% |
| August | $180,710.33 | $186,018 | $209,967.33 | 237.7% |
| September | $186,554.50 | $191,922.75 | $215,780.25 | 247.1% |
| October | $192,398.67 | $197,827.50 | $221,593.17 | 256.4% |
| November | $198,242.83 | $203,732.25 | $227,406.08 | 265.8% |
| December | $204,087 | $209,637 | $233,219 | 275.1% |
| All Time | $171,944.08 | $177,160.88 | $201,247.96 | 223.7% |
| January | $212,511.67 | $218,298 | $243,655 | 291.9% |
| February | $220,936.33 | $226,959 | $254,091 | 308.7% |
| March | $229,361 | $235,620 | $264,527 | 325.5% |
| April | $237,785.67 | $244,281 | $274,963 | 342.3% |
| May | $246,210.33 | $252,942 | $285,399 | 359% |
| June | $254,635 | $261,603 | $295,835 | 375.8% |
| July | $263,059.67 | $270,264 | $306,271 | 392.6% |
| August | $271,484.33 | $278,925 | $316,707 | 409.4% |
| September | $279,909 | $287,586 | $327,143 | 426.2% |
| October | $288,333.67 | $296,247 | $337,579 | 443% |
| November | $296,758.33 | $304,908 | $348,015 | 459.8% |
| December | $305,183 | $313,569 | $358,451 | 476.5% |
| All Time | $258,847.33 | $265,933.50 | $301,053 | 384.2% |
| January | $317,150.58 | $326,144.33 | $372,391.92 | 499% |
| February | $329,118.17 | $338,719.67 | $386,332.83 | 521.4% |
| March | $341,085.75 | $351,295 | $400,273.75 | 543.8% |
| April | $353,053.33 | $363,870.33 | $414,214.67 | 566.2% |
| May | $365,020.92 | $376,445.67 | $428,155.58 | 588.7% |
| June | $376,988.50 | $389,021 | $442,096.50 | 611.1% |
| July | $388,956.08 | $401,596.33 | $456,037.42 | 633.5% |
| August | $400,923.67 | $414,171.67 | $469,978.33 | 655.9% |
| September | $412,891.25 | $426,747 | $483,919.25 | 678.4% |
| October | $424,858.83 | $439,322.33 | $497,860.17 | 700.8% |
| November | $436,826.42 | $451,897.67 | $511,801.08 | 723.2% |
| December | $448,794 | $464,473 | $525,742 | 745.6% |
| All Time | $382,972.29 | $395,308.67 | $449,066.96 | 622.3% |
By 2025, Bitcoin price could hit the six-digit territory and expect a massive bull run to kickstart in the years leading up to 2029. Coingape’s Bitcoin price prediction notes that BTC could trade between $82,213.41 and $660,471.83 by 2029.
Bitcoin Price Outlook between 2030 and 2050
2030
2031
2032
2033
2040
2050
| January | $465,154.42 | $481,462.17 | $546,469.67 | 779% |
| February | $481,514.83 | $498,451.33 | $567,197.33 | 812.3% |
| March | $497,875.25 | $515,440.50 | $587,925 | 845.6% |
| April | $514,235.67 | $532,429.67 | $608,652.67 | 879% |
| May | $530,596.08 | $549,418.83 | $629,380.33 | 912.3% |
| June | $546,956.50 | $566,408 | $650,108 | 945.7% |
| July | $563,316.92 | $583,397.17 | $670,835.67 | 979% |
| August | $579,677.33 | $600,386.33 | $691,563.33 | 1012.3% |
| September | $596,037.75 | $617,375.50 | $712,291 | 1045.7% |
| October | $612,398.17 | $634,364.67 | $733,018.67 | 1079% |
| November | $628,758.58 | $651,353.83 | $753,746.33 | 1112.4% |
| December | $645,119 | $668,343 | $774,474 | 1145.7% |
| All Time | $555,136.71 | $574,902.58 | $660,471.83 | 962.3% |
| January | $667,167.08 | $691,240.58 | $802,526.58 | 1190.8% |
| February | $689,215.17 | $714,138.17 | $830,579.17 | 1235.9% |
| March | $711,263.25 | $737,035.75 | $858,631.75 | 1281.1% |
| April | $733,311.33 | $759,933.33 | $886,684.33 | 1326.2% |
| May | $755,359.42 | $782,830.92 | $914,736.92 | 1371.3% |
| June | $777,407.50 | $805,728.50 | $942,789.50 | 1416.4% |
| July | $799,455.58 | $828,626.08 | $970,842.08 | 1461.5% |
| August | $821,503.67 | $851,523.67 | $998,894.67 | 1506.7% |
| September | $843,551.75 | $874,421.25 | $1,026,947.25 | 1551.8% |
| October | $865,599.83 | $897,318.83 | $1,054,999.83 | 1596.9% |
| November | $887,647.92 | $920,216.42 | $1,083,052.42 | 1642% |
| December | $909,696 | $943,114 | $1,111,105 | 1687.1% |
| All Time | $788,431.54 | $817,177.29 | $956,815.79 | 1439% |
| January | $946,061.92 | $979,838.83 | $1,150,786.08 | 1751% |
| February | $982,427.83 | $1,016,563.67 | $1,190,467.17 | 1814.8% |
| March | $1,018,793.75 | $1,053,288.50 | $1,230,148.25 | 1878.6% |
| April | $1,055,159.67 | $1,090,013.33 | $1,269,829.33 | 1942.4% |
| May | $1,091,525.58 | $1,126,738.17 | $1,309,510.42 | 2006.3% |
| June | $1,127,891.50 | $1,163,463 | $1,349,191.50 | 2070.1% |
| July | $1,164,257.42 | $1,200,187.83 | $1,388,872.58 | 2133.9% |
| August | $1,200,623.33 | $1,236,912.67 | $1,428,553.67 | 2197.7% |
| September | $1,236,989.25 | $1,273,637.50 | $1,468,234.75 | 2261.6% |
| October | $1,273,355.17 | $1,310,362.33 | $1,507,915.83 | 2325.4% |
| November | $1,309,721.08 | $1,347,087.17 | $1,547,596.92 | 2389.2% |
| December | $1,346,087 | $1,383,812 | $1,587,278 | 2453% |
| All Time | $1,146,074.46 | $1,181,825.42 | $1,369,032.04 | 2102% |
| January | $1,387,378.67 | $1,426,572.58 | $1,647,465.92 | 2549.9% |
| February | $1,428,670.33 | $1,469,333.17 | $1,707,653.83 | 2646.7% |
| March | $1,469,962 | $1,512,093.75 | $1,767,841.75 | 2743.5% |
| April | $1,511,253.67 | $1,554,854.33 | $1,828,029.67 | 2840.3% |
| May | $1,552,545.33 | $1,597,614.92 | $1,888,217.58 | 2937.1% |
| June | $1,593,837 | $1,640,375.50 | $1,948,405.50 | 3033.9% |
| July | $1,635,128.67 | $1,683,136.08 | $2,008,593.42 | 3130.7% |
| August | $1,676,420.33 | $1,725,896.67 | $2,068,781.33 | 3227.5% |
| September | $1,717,712 | $1,768,657.25 | $2,128,969.25 | 3324.3% |
| October | $1,759,003.67 | $1,811,417.83 | $2,189,157.17 | 3421.1% |
| November | $1,800,295.33 | $1,854,178.42 | $2,249,345.08 | 3517.9% |
| December | $1,841,587 | $1,896,939 | $2,309,533 | 3614.7% |
| All Time | $1,614,482.83 | $1,661,755.79 | $1,978,499.46 | 3082.3% |
| January | $1,912,592.58 | $1,975,978.17 | $2,362,093.25 | 3699.3% |
| February | $1,983,598.17 | $2,055,017.33 | $2,414,653.50 | 3783.8% |
| March | $2,054,603.75 | $2,134,056.50 | $2,467,213.75 | 3868.4% |
| April | $2,125,609.33 | $2,213,095.67 | $2,519,774 | 3952.9% |
| May | $2,196,614.92 | $2,292,134.83 | $2,572,334.25 | 4037.4% |
| June | $2,267,620.50 | $2,371,174 | $2,624,894.50 | 4122% |
| July | $2,338,626.08 | $2,450,213.17 | $2,677,454.75 | 4206.5% |
| August | $2,409,631.67 | $2,529,252.33 | $2,730,015 | 4291.1% |
| September | $2,480,637.25 | $2,608,291.50 | $2,782,575.25 | 4375.6% |
| October | $2,551,642.83 | $2,687,330.67 | $2,835,135.50 | 4460.1% |
| November | $2,622,648.42 | $2,766,369.83 | $2,887,695.75 | 4544.7% |
| December | $2,693,654 | $2,845,409 | $2,940,256 | 4629.2% |
| All Time | $2,303,123.29 | $2,410,693.58 | $2,651,174.63 | 4164.3% |
| January | $2,753,723.75 | $2,916,544.25 | $3,019,295.17 | 4756.4% |
| February | $2,813,793.50 | $2,987,679.50 | $3,098,334.33 | 4883.5% |
| March | $2,873,863.25 | $3,058,814.75 | $3,177,373.50 | 5010.6% |
| April | $2,933,933 | $3,129,950 | $3,256,412.67 | 5137.7% |
| May | $2,994,002.75 | $3,201,085.25 | $3,335,451.83 | 5264.9% |
| June | $3,054,072.50 | $3,272,220.50 | $3,414,491 | 5392% |
| July | $3,114,142.25 | $3,343,355.75 | $3,493,530.17 | 5519.1% |
| August | $3,174,212 | $3,414,491 | $3,572,569.33 | 5646.3% |
| September | $3,234,281.75 | $3,485,626.25 | $3,651,608.50 | 5773.4% |
| October | $3,294,351.50 | $3,556,761.50 | $3,730,647.67 | 5900.5% |
| November | $3,354,421.25 | $3,627,896.75 | $3,809,686.83 | 6027.7% |
| December | $3,414,491 | $3,699,032 | $3,888,726 | 6154.8% |
| All Time | $3,084,107.38 | $3,307,788.13 | $3,454,010.58 | 5455.6% |
The bullish explosive trend noted up to 2029 will continue for BTC based on CoinGape predictions and potentially push the average price of BTC in 2050 between $2.9 million and $3.3 million.
Disclaimer:
Investors should take these long-term predictions with a grain of salt and consider that these forecasts are bound to change depending on the macroeconomic and geopolitical landscape at the time.
Bitcoin Price Outperforms Ethereum Price
Throughout the year, Bitcoin price has maintained a strong lead against Ethereum. Although spot ETF was approved for both assets, BTC’s YTD return is 52%, while ETH’s hovers around 7%. This outlook will likely continue, allowing BTC to dominate ETH and other top altcoins.
Spot Bitcoin ETF Played Pivotal Role in Kickstart BTC Bull Run
BlackRock filing for spot ETF on June 14, 2023, amped the 2023 bull run. After the launch of spot Bitcoin ETF, there was a minor correction due to Grayscale outflows. As the outflows stopped, the real demand for BTC began to reflect, propelling Bitcoin price to a new ATH of $73,949 in March 2024.
The cumulative Bitcoin ETF flows currently sit at a whopping $21.34 billion with October 23 noting a $192 million inflow.
Source: https://coingape.com/markets/bitcoin-btc-price-today-24-october-2024/