https://www.newsbtc.com/all/bitcoin-weekly-td-sequential-buy-setup/

Bitcoin price keeps falling, now pushing down against support at $25,000 per coin. The recent sweep of lows has resulted in a perfected TD9 buy setup according to the weekly TD Sequential indicator.

Although this sounds positive for crypto, if the signal fails, there is risk of an extreme drop ahead. Here is a closer look at why.

Is The TD Sequential Telling Us To Buy The Dip In Bitcoin?

Things are improving for Bitcoin price action, but the situation surrounding altcoins and the increasingly negative macro environment has kept upside momentum at bay. The result over the last several weeks has been another BTCUSD downtrend. This series of down weeks has satisfied a specific sequence required to trigger a TD9 buy setup.

Even more important, the signal has been “perfected” now that price has made a lower low on weekly timeframes. The TD Sequential is a market timing indicator created by Thomas DeMark, which can be used to potentially time reversals. However, when a buy signal fails, the move down can be dramatic.

The last time there was a perfected TD buy setup series in the same timeframe, Bitcoin was priced at $42,000 per coin. There was a short-lived recovery, but a more than 50% collapse followed due to the buy setup failure.

If the buy setup doesn’t fail here, Bitcoin should reverse before the week is over, resuming its prior bullish 2023 uptrend.

A Broader Look At The Brewing BTC Trend

Upon zooming out, we can also see that Bitcoin’s uptrend from $3,000 is still intact, according to TDST support located at $10,376. TDST support only moves up when a TD series is perfected to the upside and a sell setup triggered. Instead, the perfected TD9 buy setup has renewed TDST resistance at $30,419.

Former TDST resistance was located at $25,250, which is potentially being retested now. Based on what the technical indicator tells us, is that Bitcoin is facing a critical inflection point in terms of timing and price level combined. However the dust settles could determine the future trend for the remainder of the year.

Will this TD buy setup lead to a reversal, or further failure for bulls to establish a new bull market?

https://www.newsbtc.com/news/solana/solana-price-prediction-2023-2024-2025-sol-beyond/

Solana is one of the fastest growing cryptocurrency platforms thanks to its high speed and low costs. Launched in 2020, its native SOL token has seen massive appreciation.

Here we analyze Solana’s price outlook for the future using technical analysis to provide an evidence-based Solana price prediction guide.

What is Solana (SOL)?

Solana is a highly scalable decentralized blockchain created by Anatoly Yakovenko in 2017. It uses a unique proof-of-history consensus mechanism to achieve high transaction speeds and low fees while maintaining security.

The native cryptocurrency of the Solana network is SOL. It is used to pay for executing transactions, interacting with smart contracts, and staking on the blockchain.

Some key aspects of Solana include:

Speed

Solana can process over 50,000 transactions per second, significantly faster than Bitcoin or Ethereum.

Low fees

With high speed, Solana offers transaction costs as low as $0.00025 making it ideal for DeFi.

Proof-of-History

This novel consensus mechanism coordinates timeline between nodes without slowing things down.

Programming

Solana supports programming languages like Rust and C++ to develop dApps.

Staking

SOL holders can stake tokens to help validate transactions while earning staking rewards.

Solana’s powerful performance makes it a leading choice for developing fast, scalable DeFi applications and services.

Factors Influencing Solana Price

Several core factors determine the price movement and growth potential of SOL:

Cryptocurrency Market Conditions

Like most altcoins, Solana’s price depends significantly on Bitcoin and overall crypto market trends. A rising market lifts SOL.

Adoption by Developers

As more projects build DEXs, NFT marketplaces, Web3 applications etc on Solana, demand for SOL increases.

Competition From Rival Networks

Alternative scalability solutions like Avalanche, Polkadot or Cardano could fragment developer interest and diminish Solana’s growth potential if they gain traction.

Network Upgrades and Innovation

Upgrades to further boost Solana’s speed and capabilities can augment developer demand, boosting SOL’s value.

Staking Trends

Higher staking activity reduces available SOL supply which may lead to appreciation in token price.

Security and Reliability

Network outages or vulnerabilities could damage confidence in Solana and depress SOL price. Smooth performance boosts its reputation.

Major Historical Price Developments

SOL’s price has seen huge growth since launching, but also periods of instability. Let’s look at key highlights:

2020 – Minimal Trading After Launch

Solana launched the mainnet in March 2020 with SOL starting off around $0.50 initially with minimal exchange availability and trading. By December 2020, it reached $1.52 as trading volumes gradually picked up.

2021 – Massive Breakout

The 2021 crypto bull run catapulted Solana into the limelight with SOL surging exponentially from $3 in January 2021 to a peak of $260 by November 2021 – an unbelievable 8700% return within 10 months!

Driving this were:

• Explosive growth of DeFi and NFT activity on Solana, riding the hot trends.
  Attracting developers due to faster speeds and lower costs than Ethereum.
  Major protocol improvements and ecosystem funding.
  Listing on Coinbase and Binance centralized exchanges.

This established Solana as a leading Ethereum competitor. But lack of maturity showed…

2022 – Crash and Outages

In 2022, the crypto downturn brought SOL back down below $40 from its highs. More damaging were network outages in 2022 that dented confidence in Solana’s stability. The final days surrounding the FTX collapse, Solana also suffered, taking the cryptocurrency to a 2022 low of $8.

While still early days for such a nascent project, Solana needs to improve reliability to gain institutional trust. But its developer momentum continues unabated, with over 4000 projects built on Solana so far.

Recent SOL Price Analysis

Solana has been recovering throughout 2023, but the US SEC hasn’t made it easy, attacking altcoins around every turn. Each time altcoins like SOL attempt to gain momentum, the SEC files another case against a crypto exchange. Past filings include naming Solana as a possible unregistered security.

However, it continues to be the choice for big institutions such as VISA, which is launching a stable coin payment system on Solana.

Short-Term Solana Price Prediction for 2023

The latest bullish news that VISA is using Solana for its stable coin payments could propel SOL higher and reach the target of this inverse head and shoulders pattern, with a target of $75 per token.

Medium-Term Solana Price Prediction for 2024-2025

Solana very closely mimics the price action of 2016 through 2020 Ethereum. If another similar rally follows in Solana like it did in Ethereum, SOL could approach upwards of $1,000 per token.

Long-Term Solana Price Prediction for 2030

In the longest term outlook, it becomes much more challenging to properly predict what SOL might do. It very much depends on adoption of the SOL token, the Solana blockchain, and crypto itself. If SOL can maintain its current mean trajectory, then it is possible Solana could be priced around $3,000 to $4,000 by the year 2030 or beyond.

Conclusion: Solana Price Outlook

Solana has demonstrated immense potential with its blazing fast speeds at low costs. But it still has much to prove regarding stability and institutional-grade security.

If Solana can build on its developer momentum and rapidly evolving ecosystem while improving reliability, its long-term growth upside is immense. But execution risks remain for this ambitious project aiming to reshape decentralized finance.

Solana Price Prediction FAQs

Let’s look at some common questions crypto investors have about SOL price analysis:

What was Solana’s lowest ever price?

SOL sank to as low as $0.50 in the early days after its mainnet launch in 2020. Its 2022 low was around $8 amidst broader crypto market weakness.

What was the highest price for Solana?

Solana’s all-time high price stands at $260 reached in November 2021 during strong bullish momentum carrying crypto markets higher.

Is $500 realistic for Solana?

SOL reaching $500 is achievable this decade if Solana fulfills its technological promise and sees high adoption as the leading DeFi blockchain.

Can Solana crash to zero?

A complete collapse is unlikely given Solana’s strong fundamentals unless critical flaws emerge in its core protocol. But extended weakness could sink SOL below $10 until a recovery.

Why is SOL price volatile?

As a relatively new asset with limited liquidity, Solana experiences high volatility from speculative trading and sentiment shifts. As adoption increases, volatility should stabilize.

When will Solana’s price stabilize?

Solana price swings may start normalizing once it builds a large user base and matures technically. But as a crypto asset, some volatility will always remain.

https://www.newsbtc.com/analysis/xrp/xrp-price-prediction-for-2023-2024-2025-2030/

XRP has been one of the most controversial cryptocurrencies since its creation by Ripple Labs in 2012. Its close ties to traditional finance have alienated parts of the crypto community. However, it retains a loyal following for its fast and cheap transactions. This XRP price prediction guide examines the coin’s outlook using technical analysis methods.

What is XRP?

XRP is a cryptocurrency created by the Ripple payment network to facilitate fast cross-border payments. Ripple Labs founders Arthur Britto, David Schwartz, and Chris Larsen designed it to overcome Bitcoin’s scalability issues while enabling seamless transfers between different currencies.

Some key features of XRP include:

Speed 

Settlement of XRP transactions takes 3-5 seconds, far faster than Bitcoin’s 10+ minutes.

Low cost

XRP transaction fees are a fraction of a penny, making it affordable for micropayments.

Fixed supply

The total supply of 100 billion XRP was created at launch, unlike Bitcoin’s limited issuance schedule.

Bank partnerships

Ripple has partnered with over 300 banks and financial institutions to use XRP for settlement.

Controversies

XRP has been mired in controversy regarding everything from centralization to securities classification.

XRP is designed for use by financial institutions, though it trades publicly on exchanges. Its adoption rate will likely depend significantly on the outcome of Ripple’s ongoing SEC lawsuit.

Factors Influencing XRP Price

Numerous factors impact XRP prices, leading to high volatility:

Ripple Company Developments and XRP Regulatory Status

Ripple’s partnerships, service offerings, and legal issues have significant ramifications for XRP’s price action. For example, the SEC deeming XRP kept the asset from making new all-time highs during the 2020 and 2021 bull market in crypto. Now that Ripple has won the case against the SEC and a US judge deeming XRP not a security, new all-time highs could arrive during the next bullish cycle.

Cryptocurrency Market Trends

Like most altcoins, XRP’s price tends to follow Bitcoin’s price movements overall. When Bitcoin rises or falls sharply, so does XRP. Bitcoin itself has been struggling recently due to the US Federal Reserve raising interest rates.

Mainstream Adoption

XRP gaining transactional adoption from banks and payment providers would establish real-world utility and boost prices. But it faces stiff competition from private blockchains.

Decentralization Efforts

Lessening Ripple Lab’s control over XRP supply and the ledger through further decentralization could enhance XRP’s appeal and value to the crypto community.

Burn Rate

Ripple periodically burns XRP supply to manage circulation. Higher burn rates decrease available XRP which can positively impact prices.

XRP Price History

XRP’s price history has been defined by major announcements, partnerships, and controversies.

2012-2014: The Early Years

XRP traded for a fraction of a penny initially. Prices remained relatively flat between $0.002 to $0.02 till 2017 as Ripple focused on building partnerships rather than exchanges.

2017: Crypto Bubble Peak

As crypto mania peaked in late 2017, XRP saw massive speculative gains, rising from $0.006 in April to an all-time high of $3.84 in January 2018 – an incredible 63,000% return within 9 months!

However, this meteoric rise was fueled by hype rather than fundamentals. XRP came crashing down as Bitcoin collapsed, declining over 90% within a year after the peak.

2018-2020: Building Products

Between 2018-2020, XRP stayed afloat better than most altcoins, trading between $0.20 to $0.60 as Ripple doubled down on establishing real-world utility.

Major developments included:

• Ripple launched On-Demand Liquidity (ODL) allowing financial institutions to use XRP for instant cross-border payments.
• Over 300 banks signed up for RippleNet to connect payment channels globally.
• Remittance firms including MoneyGram began using ODL for transferring funds.

This suggested future adoption could be driven by Ripple’s offerings.

2021 – 2022: Legal Woes and a Bear Market Emerge

After starting 2021 strongly with XRP exceeding $1 again thanks to crypto resurgence, Ripple was hit by an SEC lawsuit in December 2020 alleging XRP was an unregistered security.

Many exchanges delisted XRP while its price collapsed due to negative sentiment. XRP failed to set a new all-time high while Bitcoin, Ethereum, Dogecoin, and several others as a result.

Each of these other cryptocurrencies set a peak during this time, entering a bearish market in 2022. This lowered the chances of XRP making a recovery during the year.

Recent XRP Price Action

2023 has been a difficult year for most cryptocurrencies, which are only starting to recover from the prolonged crypto winter. XRP, however, has outperformed most cryptocurrencies this year thanks to Ripple winning its legal battle with the SEC. 

A US court judge ruled that XRP is not a security when sold to retail investors. This caused several exchanges to relist the asset, and prices spiked from under $0.50 to $1 in 48 hours after the decision. The SEC plans to appeal the decision, which prompted a full retrace of the rally. Now what’s next for XRP price?

Short-Term XRP Price Prediction for 2023

With XRP fully retracing the SEC court case ruling rally, sentiment is back to scared across the crypto market. Combined with other altcoins setting new lows, investors are fearful that the bear market might return.

XRP, however, could be performing a throwback retest of ascending triangle resistance turned support, which is common in financial markets. If support holds, price could ultimately approach over $1 in the next attempt. 

Meanwhile, if price were to fall back through the bottom of the ascending triangle pattern, it would indicate failure and lead to a retest of bear market lows.

Medium Term XRP Price Prediction for 2024 – 2025

If XRP can continue with its bullish market, then 2024 and 2025 could see the final move in the first major bull market sequence. 

Elliott Wave Principle believes that bull markets move in what’s called a motive wave, which is a five-wave upward sequence, where odd numbered moves are in the direction of the primary trend, while even numbered moves move against the trend.

Corrections are typically labeled as ABC, unless the correction is a triangle, in which it is labeled ABCD and E. More complex corrections can evolve over time. Triangles represent the consolidation before the final thrust in a sequence.

Price projections put XRP above $10, between $14, and $17 depending on momentum and supporting environment.

Long-Term XRP Price Prediction for 2030

XRP’s long term forecast is a lot more difficult to predict using traditional technical analysis techniques. In this case, we’ve chosen to draw a price mean through years of price action in an attempt to project a linear trend line.

Peaks and troughs would occur above and below the mean, providing the potential for mean reversion trades. The trajectory puts XRP upwards of $20 per coin in the future if the mean line is accurate.

XRP Price Prediction FAQs

Let’s look at some commonly asked questions regarding XRP price forecasts:

What was XRP’s lowest price?

During its initial couple years after launch, XRP hit lows between $0.002 to $0.005. Its recent low was $0.24 in July 2022.

What was XRP’s highest price?

XRP’s all-time high was $3.84 reached in January 2018 during the crypto bubble. It also briefly exceeded $3.60 in the same time frame.

How high can XRP realistically go?

Based on its fundamentals and adoption risks, a realistic best-case high for XRP by 2025-2030 is likely in the $10 to $20 range if it gains widespread utility. Reaching triple digits appears very unlikely.

Can XRP’s price crash to zero?

If Ripple suffered an existential threat, XRP could potentially crash below $0.01. But delisting risks have reduced after a US court deemed XRP not a security, making a complete collapse improbable without a catastrophic event.

Why is XRP price volatile?

As a cryptocurrency exposed to speculative trading, XRP experiences high volatility from hype cycles and shifts in investor confidence amplified by its low liquidity relative to larger cryptos.

When will XRP’s price stabilize?

XRP volatility should stabilize and gravitate closer to currency-like fluctuations once it establishes a reliable demand baseline among commercial users and institutions. But this remains dependent on Ripple’s success.

https://www.newsbtc.com/news/ethereum/ethereum-price-prediction-for-2023-2024-2025-2030/

Ethereum has rapidly become the second most valuable cryptocurrency after Bitcoin. With its recent transition to a proof-of-stake consensus model and its expanded capabilities, Ethereum’s future looks bright. This guide provides a data-driven Ethereum price prediction for the short, medium and long-term.

What is Ethereum (ETH)?

Ethereum is a decentralized blockchain platform created by Vitalik Buterin in 2015. Like Bitcoin, it uses a blockchain to store transaction records. But Ethereum’s key innovation was enabling decentralized applications (dApps) and smart contracts on its blockchain.

The Ethereum blockchain serves as a secured public ledger for verifying and recording transactions. Ether (ETH) is the native cryptocurrency of the platform that acts as ‘gas’ to power transactions and run smart contracts.

Some key aspects of Ethereum include:

Smart contracts

These are applications that run exactly as programmed without risk of downtime or third-party interference.

Decentralized platform

Ethereum operates via a global peer-to-peer network, avoiding centralized control.

Programmable blockchain

Developers can use Ethereum to build and deploy decentralized applications of all kinds.

Proof-of-stake consensus

Ethereum has transitioned to a more efficient proof-of-stake system called Casper that requires less energy.

These features make Ethereum extremely versatile and a promising platform for decentralized finance (DeFi), NFTs, DAOs, dApps and much more.

Factors Influencing Ethereum Price

Ethereum’s growth has been explosive, but not without volatility. Here are some factors that affect ETH prices.

Cryptocurrency Market Trends

Like most cryptos, Ethereum price depends heavily on trends in the overall crypto market. Bitcoin’s price actions in particular have a ripple effect on altcoins.

Gas Fees and Transaction Costs

Ethereum gas fees rising during times of network congestion reduces usage and can suppress price. Efforts like scaling solutions aim to lower transaction costs.

Mainstream Adoption

With increasing real-world Ethereum usage cases in DeFi, NFTs etc. mainstream adoption is rising, leading to higher demand and prices.

Competition

While Ethereum is the dominant smart contract platform currently, competition from projects like Solana, Cardano etc. can potentially erode its market share and affect ETH prices.

Regulations

Regulatory crackdowns or increased clarity on crypto/Ethereum can both positively and negatively impact prices by affecting investor sentiment.

Technology Upgrades

Recent Ethereum developments like the Merge upgrade to proof-of-stake or ETH 2.0 implementating sharding may improve capabilities and affect value over time.

Burning Ether

Burning ETH taken out of circulation through EIP-1559 helps reduce supply and may gradually increase the value of remaining Ether.

Ethereum Price History

Ethereum launched in 2015 at an initial price of around $0.30. Here is a look at key price developments since then.

2015-2017 – The Early Days

After launch, Ethereum traded in the $1-$15 range till early 2017. As crypto markets gained steam in 2017, Ethereum shot up to $380 by June.

Several factors drove growth:

• Increasing developer adoption with global Ethereum hackathons held in 2017. Hundreds of projects were built on Ethereum.
• Mainstream coverage of Ethereum as a revolutionary technology in magazines like Forbes
• ICO boom – projects raising millions via Ethereum-based ICOs bought Ether at inflated prices

This growth was unsustainable long-term and by September 2018, ETH had fallen to around $170. But immense developer interest and real-world usage potential was now apparent.

2018-2020 – Building During the Bear Market

In the 2018-2020 bear market, Ethereum stayed afloat better than most altcoins, remaining above $100.

Major mileposts include:

• Despite market conditions, steady progress continued on Ethereum 2.0 upgrades like Beacon Chain, proof-of-stake, and sharding.
• Increasing DeFi (decentralized finance) dominance with Ethereum facilitating over 90% of activity and billions in value.
• Launch of Ethereum-based Tether (USDT), the most used stablecoin. USDT transactions dwarfed payment coins.
• ERC-20 standard became the de-facto for issuing new tokens. Most ICOs continued to launch on Ethereum.

This demonstrated Ethereum’s real-world utility and helped prevent steeper declines.

2021 – 2022 – From Mainstream Mania To Manic Depression

2021 marked a parabolic rise for Ethereum, breaking out beyond crypto circles into mainstream recognition. The parabolic rise also brought an abrupt peak, sending Ethereum prices crashing all throughout 2022 as the US Federal Reserve began hiking interest rates to the highest levels in decades.

Key factors driving this bull run:

• Continued DeFi growth, with the total value locked in DeFi rising from $20B to over $100B during 2021.
• NFT mania beginning in early 2021, with Ethereum hosting headline-grabbing sales like Beeple’s $69 million digital art piece.
• Ethereum network upgrades like Berlin hard fork and London’s EIP-1559 built investor confidence.
• Large companies like Visa and JP Morgan began settling transactions on the Ethereum blockchain.
• Institutional investment rose with SEC allowing Ethereum futures ETFs.

This perfect storm took ETH from under $800 in January 2021 to an all-time high of $4,800 in November 2021. In 2022 the crypto market endured a painful bear market, with Ethereum dropping below $1,000.

However, a major milestone was reached in September 2022, with Ethereum completing The Merge upgrade to become a proof-of-stake blockchain. This reduced Ethereum inflation and carbon footprint.

While sentiments remain low currently, The Merge was a huge technological leap cementing Ethereum’s lead in blockchain development. The stage is potentially set for the next bull market.

Recent Ethereum Price Performance

Unlike Bitcoin which found a local bear market bottom in November 2022, Ethereum set a local low in mid-June at around $878 per ETH. An almost immediate bounce took Ether over double from the low to $2,000, but retested $1,000 before the year ended. Throughout 2023 while Bitcoin and other cryptocurrencies have recovered, Ethereum’s rally has been relatively muted.

In August 2023, Ethereum once again retested $1,500, possibly putting in a lower low before the start of a more substantial rally or collapse.

Short Term Ethereum Price Prediction for 2023

Since the 2022 local bottom, Ethereum has been forming an Ascending Triangle pattern. This is predominantly a bullish pattern, but can occasionally appear in a bear market before the final move in a sequence, ultimately breaking down.

Targets based on the measure rule put an immediate upside breakout around $3,800 per ETH, while a breakdown would send Ether back down to $871 for a double possible double bottom or new low. With only a few months left in 2023, trajectories will be limited based on time.

Medium Term Ethereum Price Prediction for 2024 – 2025

Based on historical 4-year market cycles and Elliott Wave Principle patterns, Ethereum appears to be at a critical junction, where it could retrace further and break down from a large rising wedge structure, or could rally and fill out the upper portion of the pattern one more time.

The black-colored wave scenario puts ETHUSD at $10,000 between 2024 and 2025. Meanwhile, the red-colored corrective wave scenario suggests Ether will reach around $440 during a C-wave of continuation.

Long Term Ethereum Price Prediction for 2030 and Beyond

If Ethereum establishes itself as the primary platform for decentralized apps and finance by 2030, its utility could be immense. Based on a long-term linear mean, Ethereum could fluctuate between $20,000 and nearly $100,000 per ETH by the year 2030 arrives.

Ethereum Price Predictions by Experts

Here what some industry experts and analysts forecast for Ethereum:

Popular analyst Benjamin Cowen is conservative in his Ethereum price prediction, claiming that “Ethereum has the potential to eventually achieve $10,000 to $15,000 per ETH in the next five to ten years.” He cautions that scaling needs to be achieved without diluting ETH’s value.

RealVision CEO Raoul Pal predicts ETH at $20,000 by 2025. CertiK CEO Ronghui Gu forecasts Ethereum at $30,000 to $50,000 by 2030. Justin Bennett sees ETH potentially reaching $40,000 if bullish sentiment returns.

Ethereum Price Prediction FAQs

Here are some common questions about Ethereum price predictions:

What was Ethereum’s lowest price?

Ethereum hit record lows between $0.4 to $0.7 in 2015 and 2016 during its earliest days. Its recent low was around $800 in June 2022.

What was Ethereum’s highest price?

Ethereum’s all-time high price was $4,891 reached in November 2021. It also briefly exceeded $4,600 in the same month.

How high can Ethereum realistically go long-term?

Based on expert forecasts and models, Ethereum potentially could reach over $100,000 by 2030, and even $500,000+ in the 2050 timeframe as a bull case scenario if it achieves global adoption.

Can Ethereum drop to zero?

While unlikely, the possibility that Ethereum drops to near zero can’t be ruled out entirely. Competition, failure to scale sufficiently, or critical bugs in the codebase are threats.

Why is Ethereum price volatile?

As a relatively new asset class, Ethereum is prone to high volatility. Speculation, hype cycles, and changing investor sentiment amplify price swings.

When will Ethereum’s price stabilize?

Ethereum price volatility should stabilize significantly once it achieves full-scale mainstream adoption as a blockchain platform, which could happen within the next 5-10 years.

Will Ethereum go up in 2023?

The most likely scenario based on market trends is Ethereum rising gradually throughout 2023, although price will remain volatile in the short-term.

https://www.newsbtc.com/bitcoin-news/bitcoin-bullish-uptrend-remains-unbroken-heres-why/

Bitcoin price is currently trading at slightly above $26,000 per coin, but is still reeling after last week’s 10% single day selloff. The situation looks dire for crypto bulls who were hoping for a more significant recovery to begin after such prolonged sideways.

However, the bullish market structure remains unbroken. Let’s take a closer look at what exactly this means and why the 2023 uptrend is still intact.

Recapping Recent BTCUSD Volatility

After a solid start to 2023 – certainly a year that’s been kinder to the king of cryptocurrency than 2022 – BTCUSD has bears celebrating and bulls kicking their wounds. Several months of sideways price action and dwindling volatility ended with a bang as expected, but the move was down and not what bulls had been hoping for.

A sharp, 10% intraday selloff caused more long liquidations than the FTX collapse, and sent the Relative Strength Index immediately into the most oversold territory in all of 2023. But even with all the carnage, Bitcoin remains in a near-term uptrend with a bullish market structure.

Why Bitcoin Price Remains In A Structural Uptrend

By pure definition, an uptrend is a series of higher highs and higher lows. Which is precisely what is still happening in BTCUSD price action throughout 2023. Currently, the FTX collapse in November 2022 was the local “low” of the downtrend. In contrast, a downtrend is a series of lower lows and lower highs. Once a new high was made in early 2023 and then a higher low was put in, the downtrend was considered over.

The recent 2023 uptrend in Bitcoin hasn’t yet made a lower low after a lower high. Even a possible lower low beyond here is still without a proper lower high. This means that the top cryptocurrency by market cap could potentially bounce here, or even lower, and still maintain an overall bullish market structure.

A lower low would still be important, potentially warning that the market structure is turning back bearish. If a lower low happens below the $25,000 low from June 2023, then it will be all eyes on if a lower high is to follow.

The 2023 uptrend in Bitcoin has been muted compared to what the cryptocurrency is capable of. BTCUSD is up roughly 50% during the first roughly nine months of the year. The final nine months of 2020, for example, had over 900% ROI by comparison. Could this type of returns soon be on the way? Or will the cryptocurrency market fall back into the clutches of bears?

This chart originally appeared in Issue #18 of CoinChartist VIP. Subscribe for free.

https://www.newsbtc.com/bitcoin-news/bitcoin-price-prediction-for-2023-2024-2025-2030-and-beyond/

Bitcoin has come a long way since its inception in 2009. From being worth less than a penny initially, it has seen massive growth over the years with some dramatic ups and downs. Today, Bitcoin is emerging as a major alternative asset class and its future valuation prospects remain optimistic.

This comprehensive guide takes a data-driven approach to analyze factors affecting Bitcoin prices and makes educated projections about its potential highs and lows in the short, medium and long-term timeframes. With cryptocurrencies gaining mainstream traction, the report aims to provide clarity to investors on what lies ahead for Bitcoin prices based on historical patterns and developments. 

What is Bitcoin (BTC)?

Bitcoin is the first and most popular cryptocurrency in the world. It was created in 2009 by the pseudonymous Satoshi Nakamoto, who published the Bitcoin whitepaper and developed the Bitcoin protocol.

Bitcoin introduced blockchain technology to the world. The Bitcoin blockchain is a public ledger that records all Bitcoin transactions ever made. It is decentralized, meaning no single entity controls it. The blockchain is maintained by a global network of computers known as Bitcoin miners.

Key attributes of Bitcoin include:

Decentralized

No central authority controls Bitcoin. It is maintained by a distributed network of users.

Limited supply

Only 21 million Bitcoins will ever exist. This scarcity gives Bitcoin value.

Pseudonymous

Bitcoin addresses are not linked to real-world identities by default, giving users privacy.

Secure

Bitcoin uses cryptography and the blockchain to ensure the security of payments and ownership records.

Divisible

One Bitcoin can be divided into 100 million smaller units called satoshis, allowing small transactions.

Permissionless

Anyone can use Bitcoin without the need for permission from authorities.

These attributes make Bitcoin unique compared to traditional fiat currencies and a promising digital asset for investment.

Factors Influencing Bitcoin Price

Many factors can affect the price of Bitcoin, leading to volatility. Some major factors include:

Supply and Demand

Basic economic theory states that when demand increases while supply remains constant, price goes up. As more investors and institutions adopt Bitcoin, demand rises. But since new Bitcoins are mined at a fixed rate, supply remains steady, driving prices up.

Media Hype and Public Sentiment

Positive or negative media coverage and public sentiment can influence demand and price. For example, Elon Musk’s tweets on Bitcoin often lead to price swings based on his views.

Major Protocol Changes and Upgrades

Major Bitcoin developments like the SegWit upgrade or Lightning Network adoption can improve Bitcoin’s capabilities and affect price.

Regulations and Legal Status

Regulatory crackdowns or acceptance of Bitcoin in different countries impacts price as it affects demand.

Whales and Institutional Investors

“Whales” – entities holding large amounts of Bitcoin – can manipulate prices when they buy or sell. Increased institutional investment also drives up prices through increased demand.

Security Breaches and Scandals

Security issues with exchanges and wallets like the Mt.Gox hack or malicious business practices like the FTX collapse can erode investor confidence and depress prices.

Macroeconomic Conditions

Economic instability and currency devaluations motivate investors to buy Bitcoin as a hedge, boosting its price. However, it has struggled in a hawkish Fed environment and amidst rate hikes.

Bitcoin Price Performance in the Past

Looking at past price performance can provide insights into long-term trends and help predict future prices. Let’s take a walk down BTC memory lane.

The Early Days – Volatility and Growth (2009-2013)

When Bitcoin launched in 2009, it was practically worthless. In 2010, Bitcoin went from $0 to $0.39 and was extremely volatile in its early days.

By early 2011, it achieved parity with the US dollar, hitting $1.00 in February 2011. In the same year, it reached $10 and then $30. This early volatility was attributed to insufficient liquidity, scarcity due to the low Bitcoin supply, and lack of exchange infrastructure.

In mid-2011, Bitcoin fell from around $30 to $2 after a series of exchange hacks and thefts shook investor confidence. It took over a year to reach $10 again.

2012 saw gradual gains up to $12 but also wild fluctuations between $7-$15. In 2013, Bitcoin entered a bull run from $12 to over $1,100 driven by increasing media coverage and adoption in the dark web.

But it ended the year around $700 following a China ban on financial institutions and payment processors dealing with Bitcoin. This cycle of rapid gains and dramatic crashes would come to define Bitcoin price performance.

The 2014-2016 Bear Market

2014 kicked off with the collapse of Mt.Gox, then the largest Bitcoin exchange, after a series of hacks. This erased most gains from 2013 and caused Bitcoin to fall from around $850 to below $350.

For the next two years, Bitcoin hovered in the $200-$300 range. Increased regulation and lack of institutional interest kept mainstream adoption low during this period. Prices were relatively stable compared to past volatility.

2017 – The Bull Run and Mainstream Mania

2017 marked Bitcoin’s entry into mainstream awareness and a massive growth in price to nearly $20,000.

Several factors drove this rally:

• Growing media and investment bank coverage calling Bitcoin “digital gold”
• Increased adoption in countries facing currency crises like Venezuela and Zimbabwe
• Proposals for Bitcoin ETFs (exchange-traded funds) drew investor attention
• Launch of Bitcoin futures trading on major exchanges like CME and CBOE lent legitimacy
• Large institutional investments – U.S billionaire Michael Novogratz invested $500M in Bitcoin in 2017

Demand rose as Bitcoin went from being an obscure digital asset to a household name. But by January 2018, Bitcoin had lost over 60% from its peak following regulatory measures and other factors leading to a cool down from its previously overheated state.

2018-2020 – The Crypto Winter and Maturation

Bitcoin spent much of 2018 in a bear market following the 2017 rally, trading in the $3,000-$6,000 range.

Increased regulatory scrutiny, exchange hacks, and coin scams contributed to falling prices. But this period also saw the maturation of Bitcoin with developments including:

• Lightning Network launch – enabled fast, cheap Bitcoin micropayments
• Increased mainstream institutional investment from firms like Fidelity and US Bank
• Bitcoin futures added on Bakkt, Nasdaq exchanges
• Countries like Japan recognized Bitcoin as legal tender

These developments likely prevented further drops. By mid-2019, Bitcoin recovered to the $10k-$11k range.

The COVID-19 pandemic and resulting economic crisis in 2020 proved Bitcoin’s value as a hedge against inflation and currency devaluation. Stimulus spending eroded fiat savings while Bitcoin held its value.

Growing institutional interest like Microstrategy’s $500M Bitcoin purchase helped take prices past 2017 highs, eventually reaching an all-time high of around $68,000 in 2021.

2021-2022 – Twin Peaks and Recession Risk 

Bitcoin price made not one, but two new highs in 2021. The second high failed to move significantly past the first high, catching investors off-guard who had anticipated BTC reaching $100,000 or more. 

Instead, Bitcoin crashed throughout 2022 as the US Federal Reserve launched its QT program and began raising interest rates to fight back against inflation. The situation was worsened by the implosion of several crypto businesses, including FTX. Eventually, Bitcoin reached a local low of $15,800 in November 2022. 

How is Bitcoin Doing Now in 2023?

Bitcoin price is doing its best to recovery from the crypto market carnage of 2022. The US Federal Reserve continues to raise rates to record levels, and the US SEC is cracking down on the rest of the crypto industry, making it harder for Bitcoin to regain its footing.

Despite the challenges, many institutions are eying launching Bitcoin EFTs, which could create a bullish narrative that drives prices higher. In the meantime, BTC is correcting after spending the majority of 2023 in a short-term uptrend. The question remains: Is Bitcoin falling back into a bear market, or will the short-term uptrend roll into a more meaningful mid-term uptrend?

Short-Term Bitcoin Price Prediction for 2023

In the short-term, as in before the end of 2023, there are primarily three options from a technical standpoint. The bullish scenario is based on Elliott Wave Principle, and points to a wave 5 and a possible new all-time high this year. The bearish scenario would put Bitcoin in a further corrective pattern, targeting $6,000 per BTC.

Of course, an alternative scenario is that Bitcoin simple remains in a sideways consolidation phase for several months longer to finish out 2023. Otherwise, a Bitcoin price prediction of $160,000 in 2023 isn’t impossible given past price trajectories and percentage moved.

Medium-Term Bitcoin Price Prediction for 2024 & 2025

In the medium-term, Bitcoin price forecasts are based on the four-year cycle theory that relies on the Bitcoin block reward halving to tip the tides of supply and demand in favor of price appreciation. Fundamentally over the next several years, Bitcoin should have limited downside.

Instead, Bitcoin price predictions for 2024 and 2025 point to anywhere between $100,000 to $250,000 per coin on the upside.

Long-term Bitcoin Price Prediction for 2030 and Beyond

Predicting Bitcoin’s price in the long-term is challenging considering how new it still is. However, using a logarithmic growth curve, Bitcoin price predictions reach between $150,000 and $1 million per coin by 2030.

Further out into the future, if Bitcoin establishes itself as the leading global digital currency, it could be worth between $1 million and $10 million per coin.

Total 21 million BTC in supply would give Bitcoin a market cap of $21-$210 trillion, rivaling major assets like real estate and global broad money supply. But such valuations remain speculative. Bitcoin may also face future competition from both other cryptocurrencies and central bank digital currencies (CBDCs).

Bitcoin Price Predictions by Experts

Here are some Bitcoin price forecasts by noteworthy experts and analysts.

• Ark Invest CEO Cathie Wood believes that Bitcoin could hit over $1,000,000 per coin in the long term, with a “base case” of $600,000.
• Venture capitalist Tim Draper sees Bitcoin price ultimately at more than $250,000 per BTC by the end of 2025.
  • Standard Chartered has a Bitcoin price prediction of $120,000 by the end of 2024.

FAQ: Frequently Asked Questions

Here are answers to some common questions about this Bitcoin price prediction article:

What was Bitcoin’s lowest price?

The first recorded Bitcoin transaction in 2010 valued BTC at $0.0008. Bitcoin’s lowest recent price was around $15,800 in late 2022.

What was Bitcoin’s highest price?

Bitcoin’s all-time high price was around $68,000 in November 2021. 

How high could Bitcoin realistically go?

Considering growing mainstream adoption and investment interest, Bitcoin realistically could reach $100,000-$500,000 by 2030. A $1 million+ valuation cannot be ruled out in the very long-term.

Can Bitcoin price fall to zero?

It is unlikely Bitcoin price will crash to zero given its growing adoption, finite supply, and increasing regulation. There will likely always be some demand for Bitcoin which gives it fundamental value. Anything is possible, however. 

Why is Bitcoin price so volatile?

As a new asset class, Bitcoin is still establishing itself, leading to volatility. Manipulation by “whales”, media hype, and regulatory uncertainty add to large price swings. Price should stabilize with broader adoption.

When will Bitcoin price stop fluctuating so much?

Bitcoin price volatility should reduce significantly as it becomes a mainstream asset and gains broader public adoption in 5-10 years. But some short-term fluctuations will always remain.

Will Bitcoin price rise in 2023?

Considering adoption trends and investor interest, the overall Bitcoin price trajectory appears to be upwards in 2023 despite some short-term fluctuations. 

https://www.newsbtc.com/bitcoin-news/bitcoin-reaches-most-oversold-record-since-2020-what-this-means/

Bitcoin price just experienced one of its fastest and sharpest corrections in over a year, dropping 10% in a matter of minutes.

The mass liquidations and panic from the selloff caused BTCUSD daily charts to reach the most oversold level since the COVID crash in early 2020.

BTC Panic-Selling Reaches Extremes Not Seen Since COVID Crash

As much as people try to fight it, investing and trading is an emotion-driven process. Few emotions cause humans to take action more urgently than those associated with fear and panic.

This is precisely why selloffs tend to be sharper and scarier than bull markets. “Bulls take the stairs, bears ride the elevator” is just one adage that symbolizes this noted market behavior.

For example, the COVID collapse in March 2020 took only a matter of days to erase 70% of Bitcoin’s price. This instance was the last time the Relative Strength Index technical indicator on the daily timeframe became this oversold.

After Bitcoin’s recently drop this week, the daily RSI is back at a similar extreme for the first time in more than three years. What isn’t clear quite yet, is if the extreme represents another ideal buying opportunity, or if this is the onset of a deeper decline.

Bitcoin Daily RSI Plunges To Most Oversold Level Since 2020

The Relative Strength Index is a momentum indicator that tells investors and traders when an asset is overbought and oversold on a relative basis. When the tool reaches extremes above 70 or below 30, it can present an opportunity to buy or sell. The RSI is now lower than the LUNA or FTX collapse, or at any point since March 2020.

During especially strong moves, however, the RSI can remain elevated for extended phases despite reaching such overheated readings. Such was the case in December 2018, the previous instance of the daily Bitcoin RSI reaching such a low.

In that case, the RSI stayed hot for two full weeks, cutting down BTCUSD price by another 40% before it was all said and done. A 40% correction in Bitcoin would take prices back to the November 2022 bottom.

If Bitcoin instead rebounds and reacts more akin to 2020, new all-time highs could be just months away. If not, a deeper reset is possible.

#Bitcoin daily RSI is now the most oversold in all of 2023

Act accordingly pic.twitter.com/GpKFAvsonc

— Tony “The Bull” (@tonythebullBTC) August 17, 2023