Bitcoin Price Prediction 2024. Should I buy BTC?

How much will Bitcoin be worth in 2024? To find out, dive into our complete BTC price prediction for year 2024 and beyond! BTC price, technical indicators, and exchanges.

As the crypto market evolves, two landmark developments have emerged as potential catalysts for Bitcoin's price trajectory in the medium term. First, the recent approval of spot Bitcoin Exchange-Traded Funds (ETFs) in the United States marks a pivotal moment, signaling a watershed in institutional acceptance and investment in cryptocurrencies. This significant milestone not only serves as a strong indication of the growing mainstream adoption of Bitcoin but also paves the way for an influx of institutional capital into the crypto sphere.

Equally transformative is the anticipation of the Bitcoin halving event scheduled for this year. Historically, Bitcoin's halving— a pre-programmed reduction in the reward for mining new blocks— has been a harbinger of substantial price movements. This deflationary mechanism effectively reduces the new supply of Bitcoin, thereby exerting upward pressure on its price as demand continues to grow.

The confluence of these two critical factors— the endorsement of Bitcoin by the traditional financial system through the approval of spot ETFs, and the imminent scarcity resulting from the halving event— sets the stage for a compelling bullish outlook. With institutional investors poised to deepen their foray into Bitcoin, driven by the enhanced legitimacy and accessibility afforded by ETFs, and the natural supply constraints introduced by the halving, the market stands on the precipice of a potentially significant shift in Bitcoin's valuation. This intricate interplay between reduced supply and heightened demand, especially from the institutional realm, could serve as the bedrock for a sustained upward trajectory in Bitcoin's price in the medium term.

Read also: Did Bitcoin Bottom Already?

What is Bitcoin?

Bitcoin, conceived in 2008 by an enigmatic figure or group under the pseudonym Satoshi Nakamoto, stands as the first and most renowned cryptocurrency. It operates on a decentralized ledger known as the blockchain, a revolutionary technology that records transactions across a network of computers, ensuring transparency, security, and resistance to fraud.

Unlike traditional currencies, Bitcoin is not regulated by any central authority, offering a new paradigm of financial freedom and anonymity to its users. It functions both as a digital currency and a speculative asset, enabling peer-to-peer transactions without the need for intermediaries like banks. Bitcoin's unique combination of scarcity — with a capped supply of 21 million coins — decentralization, and cryptographic security has not only ignited a global discussion on the future of money but has also paved the way for the emergence of a multitude of other cryptocurrencies. As it continues to evolve, Bitcoin remains at the forefront of a financial revolution, challenging conventional notions of currency and the control wielded by centralized financial institutions.

Bitcoin (BTC) price

Bitcoin is the largest cryptocurrency in terms of market cap with its total valuation exceeding $1 trillion. Currently trading at around $63.8k, BTC recently set a new all-time high of $73,750.07, according to CoinMarketCap data. As previously mentioned, the crypto also has a fixed supply of 21,000,000 coins.

Bitcoin price prediction 2024

In recent weeks, the cryptocurrency market has witnessed significant movements in the value of Bitcoin against the dollar, capturing the attention of traders and analysts alike. The closing prices on the 1w chart have shown a remarkable trend, with Bitcoin escalating from $51,728.85 to an impressive peak of $68,955.88 before slightly retracting to its current level. This volatility has not only fueled discussions but also offered insights into potential future movements.

The technical indicators, comprising the 9 EMA, 20 EMA, MACD, and RSI, provide a detailed perspective on the market's momentum and sentiment. With the 9 EMA consistently rising over the past few weeks, and the 20 EMA climbing as well, there's a clear bullish crossover signaling growing medium-term investor confidence and market strength.

The MACD (Moving Average Convergence Divergence), a tool used to identify potential buy or sell opportunities based on the momentum and direction of the market, has shown increasingly positive values. This indicates sustained bullish momentum.

Furthermore, the RSI (Relative Strength Index), which measures the speed and change of price movements to identify overbought or oversold conditions, suggests that Bitcoin was in the overbought territory for a significant portion of the past few weeks. The most recent reading of the indicator still leans towards overbought conditions, cautioning potential investors of a possible pullback or consolidation.

With respect to critical levels, Bitcoin has demonstrated resilience and momentum. The currency surpassed the pivotal resistance at $65,519.1, hinting at a strong bullish outlook. Should this bullish momentum continue, the crypto may attempt to set a new all-time high and potentially rise to as high as $100,000. However, potential corrections could test the supports at $43,160.9, $36,244.55, and $34,655.25.

Considering the current technical indicators, the sentiment leans bullish, but with caution due to the overbought RSI levels and the possible need for a market correction or consolidation.

Bitcoin price prediction 2025

The true bull market is expected to happen towards the end of 2024. With BTC being the leading cryptocurrency, investors may keep its reputation as a frontrunner alive and allocate capital to BTC before the altcoin market. This could ignite a BTC rally at the start of 2025.

The increase in BTC’s scarcity through the reduction in mining rewards and the surge in institutional demand brought on by the launch of spot Bitcoin ETFs could continue to drive BTC’s price well into 2025. In this bullish scenario, the market leader could soar to $150,000. Many analysts have forecasted that BTC could even rise above $200,000 and potentially reach $300,000. However, this is a very optimistic outlook. Although it is achievable given the nature of the unpredictable nature of the crypto market, investors are advised to practice caution and implement risk management strategies to reduce the impact of unfavorable movements.

In a bearish scenario, BTC could retest the $100,000 mark. Continued sell pressure could then pull the market leader down to around $70,000.

Bitcoin (BTC) price prediction 2026

Looking to 2026, Coinpaper's price prediction for Bitcoin is neutral. In 2026, we expect Bitcoin to reach at least $150000 before climbing higher to $200000. In case of a bearish scenario, Bitcoin may fall to $70000.

Is Bitcoin (BTC) a good investment?

It is difficult to say whether Bitcoin is a good investment or not, as its value can be highly volatile and is influenced by a variety of factors. Some people see it as a good investment opportunity because of its potential for high returns, while others are wary of its lack of regulation and potential for security risks. As with any investment, it is important to do thorough research and to carefully consider the potential risks and rewards before deciding whether to invest in Bitcoin. It may be helpful to consult with a financial advisor before making any investment decisions.

Bottom line

Are you ready to invest in Bitcoin? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.

You can buy BTC from many crypto exchanges, including Binance

Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.


What are the recent landmark developments in the crypto market influencing Bitcoin's price?

The recent approval of spot Bitcoin Exchange-Traded Funds (ETFs) in the United States and the anticipation of the Bitcoin halving event are two major developments. The former signals increased institutional acceptance, potentially bringing more investment into cryptocurrencies, while the latter, a pre-programmed reduction in mining rewards, tends to reduce the new supply of Bitcoin, historically leading to price increases.

How does the approval of spot Bitcoin ETFs affect the crypto market?

The approval of spot Bitcoin ETFs is seen as a pivotal moment for the crypto market, marking a significant milestone in the mainstream adoption of Bitcoin. It is expected to facilitate an influx of institutional capital into the cryptocurrency sphere, enhancing its legitimacy, accessibility, and potentially leading to an increase in Bitcoin's price.

What is the Bitcoin halving event and how does it influence Bitcoin's price?

The Bitcoin halving event is a scheduled reduction in the reward for mining new blocks, effectively halving the rate at which new bitcoins are generated. This event tends to exert upward pressure on Bitcoin's price by reducing its new supply while demand continues to grow, historically leading to significant price movements.