Bitcoin Price Prediction 2023: Will BTC Price Rise Above $30K?

Bitcoin, the largest crypto according to market cap witnessed dreadful days in the past of visiting the bottoms below $16,000. While many speculated the price to drop to $10,000, the star crypto displayed a magnificent recovery and surged by nearly 100%. The volume also has increased considerably due to which the platform remained highly active, impacting the volatility of the asset. 

The price surge was fueled in the first few days of 2023 as the sentiments flipped after experiencing an extended bearish action. Moreover, the recent turmoil within the US banking system also fueled the rally to a large extent. The BTC price registered the biggest single-day jump of more than $1500 and currently has held above the gained levels. 

While the current conditions imply the possibility of a bearish breakout, the BTC price may tend to revamp the bullish trend soon. With a rebound, the price is believed to rise beyond $30,000 and close the quarterly trade on a bullish note. 

Bitcoin- A Dive into the History

• Bitcoin, the very first crypto in the market was first introduced by an anonymous person or a group of people called ‘Satoshi Nakamoto’ who published the whitepaper on October 31, 2008.

• Further in 2011, the Bitcoin price surged beyond $1 for the first time and also reached $10. The price on the MT. Gox exchange hit $30 rising more than 100x throughout the year

• In 2012, Bitcoin underwent the first halving event where the rewards were slashed from 50 to 25 BTC 

• In 2013, EFF started accepting BTC which surged the price by 6,600% to reach $250 which further soared high to hit the first ATH at $1,100. The market cap also exceeded $1 billion for the first time. 

• The token underwent the second halving in 2016 and rewards were further slashed to 12.5 BTC. Further, in 2017, the price ignited a notable bull run and surged close to $20,000, a 20x rise in less than 12 months.

• The BTC price further maintained a narrow trend throughout 2018-19 and marked the bottom in Q1 2020 post to which a notable recovery was lit off

• The price kick-started the rally since Q4 2020 and rallied extremely high to mark a new ATH at around $69,000.

• After remaining within a bearish trend throughout 2022, the price has begun with a slight recovery since the beginning of 2023. Hence expected to maintain a notable upswing ahead

Bitcoin Price Prediction 2023

The Bitcoin price has ignited a firm upswing since the beginning of the year and has maintained an ascending trend despite the bearish interference. Therefore, the price is believed to close the Q1 trade around $28,800 and rise beyond $29,000 in the first few days of Q2. However, the bears are expected to hinder the progress of the rally and hence the price is believed to close the yearly trade between $34,500 to $35,300 which may be extended to $38,000 too. 

Bitcoin Price Prediction 2024

The price is believed to maintain a notable upswing in the second half of 2023 and spark a notable upswing thereafter. The rally may further get transformed into a bull run as the bulls who have accumulated strength for over a couple of years, may begin to utilize their strength. The price may rise beyond $50,000 initially and mark new highs in the first half. However, by the end of 2024, the price is believed to soar high beyond the current highs to form a new ATH of around $78,000 to $82,000

Bitcoin Price Prediction 2025 to 2030

The BTC price is believed to rise beyond $90,000 in the first few weeks of 2025 and before reaching $100K may drop hard igniting a bearish market. The descending trend is believed to slash the price by more than 50% to 60% and mark the bottom around the current levels. However, the price may ignite a notable recovery in 2026 which may carry forward in 2027. 

The price may further intensify its recovery in 2028 which may flash the possibility of another bull run somewhere in late 2028 or early 2029. The bull run may accomplish the milestone of the star crypto to reach $100K beyond which the bears may take over until the end of 2030. 

Concluding Thought

Bitcoin has been bullish largely since its inception and recently registered itself as the asset with the highest returns comparatively. The token has withstood multiple bearish markets and hence is believed to carry significant strength even if the price is maintaining a steep descending trend. Therefore, one can be considered Bitcoin a better investment option provided he has carried out extensive research on the crypto markets, its working, and the risks involved.