$24,422.8What is Bitcoin (BTC)?
After the 2008 financial crisis, a coder named Satoshi Nakamoto came up with the idea of a blockchain a sort of distributed database and used it to build Bitcoin the world’s first decentralized currency.
Bitcoin allows people to send money instantly anywhere around the world without regard for national borders with negligible fees. Bitcoin is increasingly being used for international remittances, micropayments, and commerce online.
People have often referred to Bitcoin, as the world’s first “digital gold.” It is built on proof-of-work, allowing miners to validate transactions and earn a small number of bitcoins in return. The bitcoin currency symbol is BTC (the world’s largest cryptocurrency) listed on almost every crypto exchange like Binance, Coinbase, Crypto.com, and BitMart.
(BTC) Bitcoin Fundamentals Overview
Before jumping to the Bitcoin price prediction and analysis, you should take a look at the fundamentals.
| Launch Date | Jan 2009 |
| BTC Current Price | $24,422.8 |
| Market Cap | $466,926,731,264.0 |
| Volume | 38,096,891,904 |
| 52 Week High-Low | $68,789.6 – $24,422.8 |
| Coin Rank | 01 |
| Mineable | Yes |
| Mechanism | Proof of Work |
| Listed on | Every Crypto Exchanges |
| Max Transaction Capability | 4.6 Per Second |
| Average Transaction Cost | Variable (Depend on Demand & Supply) |
| Validator Nodes | 12000+ |
| Current Circulating Supply | 19M |
| Maximum Supply | 21M |
| Web & Social | Bitcoin.org @Bitcoin, r/Bitcoin, Github/Bitcoin |
| Last Updated | 10 Aug 2022 |
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Bitcoin Price Prediction For August 2022
As we know that the first half of the year was not good for Bitcoin and the entire crypto market. BTC dropped from a high of $68,000 to a low of $17,6000 in the 8 months (more than 70%). And this does not happen for the first time, we have already faced this situation before but the crypto investors are more scared this time because they lose huge money.
Bitcoin is trading near the $24,422.8 price mark. Compared to other top cryptocurrencies BTC moving slowly upward. At now point, $23K is a support zone and if the price could not sustain this level we might see a $21K price shortly.
Speaking of key levels, $25000 serves as resistance. If the daily candle closes above that level, the next target is $29000, and we can expect 15% to 20% momentum. But if the price of bitcoin drops from $23K and cannot hold at $21K, then $19000 to $17000 are the potential price levels.
BTC Price Prediction For Long-term (2022 – 2025)
Weekly Bitcoin Key Levels
- $29000 to $30000
- $17000 to $19000
- $11000 to $12000
By examining the weekly chart, we can see that the price of bitcoin has below the 200-day moving average line and found support at $19,000 with an RSI near 35. This indicates that BTC is in a sideways zone and moving slowly.
However, in a bad situation, if the price could not survive the $19K to $17K range, BTC might fall up to the $11000 mark. But as a good note, there are high chances for BTC to touch the $29000 level first.
Note: But these all are predictions and you should not take them as investment advice. Before making any trades, consider several indicators, professional counsel, and global sentiments.
Bitcoin (BTC) Historical Price Events
| Date | BTC Price Event |
| BTC Current Price | $24,422.8 |
| Dec 2021 to Now | Lost 70% value and traded at the $23000 mark |
| Nov 2021 | Again touch the all-time high of $68000 |
| July 2021 | Touch the $30000 Level |
| Oct 2020 to April 2021 | 6x Make a high of $63500 |
| June 2019 to Sep 2020 | Sideways Moment ($10000) |
| Dec 2017 to Dec 2018 | Lost Almost 70% value and traded near $3500 |
| April 2017 to Dec 2017 | Jump almost 20x (Make High $19,500) |
| May 2014 to April 2017 | $100 to $1000 Jump |
| 2009 | Bitcoin Launch |
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FAQ’s
Right now the BTC Cryptocurrency trade at $24,422.8
As with any asset or security, whether you should invest in cryptocurrencies depends on your investment objectives and preferences. We advise investors to don’t take it as a speculative investment and take into account the substantial risks and extreme volatility.
There are many resistance areas in the higher levels, and we are aware that the previous BTC all-time high price was $68000. BTC is therefore not likely to reach $100,000 this year. However, we think that investors will be able to get a better return on their investment in crypto as it experiences significant changes in the future.
Some people predict it will reach $500K, while experts say it will touch the $1M mark. But You should be aware that those days when the price of cryptocurrencies increased by 100 times in a matter of months are pretty much gone. And what about what happened after ten years? We have no idea where Bitcoin or any other cryptocurrency is going in the next 10 days. Keep in mind everything is forecast based on prior levels and a few technical instruments; nobody can predict the future.
Bottom Line
All of the forecasts and predictions in this post are based on previous levels and technical analysis models. They should not be considered investment advice. Before taking any investment or trading decision, you should thoroughly research a market and seek professional advice before starting trading and investment in crypto.