Bitcoin Price Prediction 2024 and Analysis

Oscillators

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 50.56, which indicates that the BTC market is in a Buy position.

The Moving Average Convergence Divergence (MACD) is a popular technical analysis indicator used to analyze financial markets, including the cryptocurrency market which signals to Sell (below 0) or Buy (above 0). Currently, the MACD value is at -683.69, which indicates that the BTC market is in a Buy position.

• RSI – Relative Strength Index
• CCI – Commodity Channel Index
• MACD – Moving Average Convergence Divergence
• SMA – Simple Moving Average
• EMA – Exponential Moving Average

Influencer and Institutional Update

• Feb 21st: Ki Young Ju @ki_young_ju: “No direct BTC-to-alt rotation, but stablecoin holders are favoring alts. Alt volume is 2.7x BTC. BTC Dominance no longer defines alt season—trading volume does.â€
• Trump claims he has signed executive orders to end Biden's “war on Bitcoin and crypto,†stating, “that war is over.â€
• Feb 19th: Bitcoin has been consolidating for 12 days, testing the 1D MA50 without closing above, indicating potential bullish momentum with a target of $112,000, as noted by @best_analysts. Meanwhile, @CryptoNobler highlights that altcoin season typically begins in February and points to a recently formed Bullish Cross in BTC, suggesting a long-term target of ~$600,000.
• Feb 13th: @BlueCrypto_ warns that Bitcoin is at a critical level, with a bearish flip expected if the price falls below $94.34K, targeting $93.52K next. To avoid further decline, Bitcoin must stay above $94.785K.

Bitcoin Price Predictions 2025-2030

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Prediction for 2025	$183077
Prediction for 2026	$227282
Prediction for 2027	$264841
Prediction for 2028	$320119
Prediction for 2029	$403259
Prediction for 2030	$519276

Bitcoin Price Prediction 2040

• If BTC price increases by 25% per annum – $2,486,899

According to VanEck CEO, “Bitcoin's value will be half of all the gold outstanding, so something like 300,000 for Bitcoin.â€

• 8.9% of the Portfolios on Crowdwisdom360's Portfolio platform recommended Bitcoin and delivered a return of -6.3% in the last 30 days. Bitcoin's incidence in Portfolios is Steady.

Compare Bitcoin with other cryptos to check if it was a better or worse investment option

Bitcoin Next 24 Hours Predictions: Key Drivers

• News-driven: Prices react swiftly to:
  • Macroeconomic factors: Changes in DXY (US Dollar Index), interest rates, jobs reports, and other geopolitical news impacting liquidity and sentiment.
  • Regulatory updates: ETF approvals/rejections influencing market sentiment and trading strategies.
  • Institutional activity: News of significant investments or divestments by major players.
  • Bitcoin adoption: Updates on the increasing or decreasing use of Bitcoin in transactions.
  • Other macro factors: Crude oil prices (seen as an inflation proxy) can also affect short-term price trends.
• Leveraged as well as Algorithmic Trading: Common in crypto markets, leverage amplifies price movements. Algorithms react to news and execute trades at high speeds, making markets more sensitive to news events.
• Bitcoin Strategic Reserve: US President Donald Trump has on multiple occasions talked about creating a Bitcoin Strategic Reserve.

To read more about Bitcoin, read Bitcoin for Beginners

Bitcoin Past Updates

• Feb 10th: Tom Lee financial analyst at Fundstrat, “BTC has become a $2T asset. Never in financial history has anything reached $2T and disappeared.â€
• Feb 9th: Rose Premium Signals (@VipRoseTr) predicts Bitcoin's next target at $113K, with long entry zones at $96K and $92K. The targets are set at $112K, $119K, and $124K, with a stop-loss at $82K.
• Feb 8th: MoreCryptoOnline Analysis: The area between $97,359 and $99,215 is the currently relevant micro resistance zone. As long as the market stays below this zone, short-term pressure seems to be down. $93,636 remains key support for the yellow scenario.
• Feb 7th: Trump Media and Technology Group (TMTG) revealed that is will likely launch its own Bitcoin ETF under Truth.Fi.
• Feb 6th: MicroStrategy (MSTR) has unveiled a bold rebrand, emphasizing its dedication to its cryptocurrency strategy. The company will now operate under the name “Strategy†and has updated its logo to feature the Bitcoin symbol. In its announcement, the company proudly declared itself “the world's first and largest Bitcoin Treasury Company.â€
• Crypto | #1 Free Signals (@best_analysts) issued a long signal for BTCUSDT (1D), stating that a breakout above ~$102K would set a target of $135K. @best_analysts holds the #4 rank in influencer accuracy with 65% accuracy.
• Jan 16th: Pierre Rochard @BitcoinPierre: Bitcoin's valuation appears to be purely speculative unless it is viewed as a foreign currency used in an emerging digital country within cyberspace known as the Bitcoin network. This network operates under a monetary policy that consistently tightens while attracting open immigration due to its innovative cryptographic payment and savings technology.
• Jan 11th: Publicly traded company Heritage Distilling adopts Bitcoin as a strategic reserve asset and will accept BTC as payment
• Jan 10th: Billionaire Mark Cuban says he'd rather own Bitcoin than gold if something bad happens to the economy. He said that Bitcoin has more value than gold.
• Jan 7th: As per Miles Deutscher (@milesdeutscher), BTC on-chain retail demand is nosediving to historic lows, despite BTC pushing $100k. This run is being driven by institutions/ETFs/nation-states. For this reason, you can't really compare this cycle to past cycles.

Note: Please consult a registered investment advisor to guide your financial decisions.