|Marketcap||Volume||52 Weeks High||52 Weeks Low||Last Updated|
|738.0B||18,105,143,296||$38,415.3||$16,398.1||2 mins ago|
What is Bitcoin?
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 worldwide without regard for national borders with nominal fees. Bitcoin is increasingly used for international remittances, micropayments, and online commerce.
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.
There are thousands of cryptocurrencies but (BTC) Bitcoin is the world's largest cryptocurrencies listed on almost every crypto exchange like Binance, Coinbase, Crypto.com, and BitMart.
Bitcoin Fundamentals Analysis
Before jumping to the Bitcoin price prediction and analysis, you should take a look at the fundamentals.
Bitcoin Price Prediction 2022
- Trend: Sideways
- Support: $18,500
- Resistance: $25,000
- Relative Strength : 45
As we know, 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 $17,622 in the nine months (more than 70%).
And this has not happened the first time, but investors are more scared this time because they have lost vast amounts of money.
Bitcoin is trading near the $37,733.2 price mark. Compared to other top cryptocurrencies, BTC is moving slowly downward. Now, $18,500 is the strong support zone, and if the BTC price can't sustain this level, we might see $16,500 or $12,500.
Speaking of the critical levels, $25,000 serves as resistance. If the daily candle closes above that level, the next target is $28,000, and we can expect 12% to 15% momentum.
Bitcoin Price Prediction (2025) Long-Term
Bitcoin's price has been volatile over short timeframes, and it can move in any direction based on how fast crypto adopted worldwide and economic conditions. However, we can see the big picture with the weekly or monthly charts.
In the weekly chart, bitcoin has crossed the 200-day moving average line and found support at $18,000 with an RSI close to 35.
This level is crucial because BTC weekly candles have taken support many times on that level. Like Dec 2017, June, July, Aug, and Sep of 2022, as you can see in the chart.
Now the question is where bitcoin is going? So there are two possibilities:
First, BTC can take support and revert it up to the $28k - $30k level; second, it may break this zone and touch the nearest support, $12,250.
I believe it depends on the market and economic sentiments. If the Fed increases the rate again & again, then there is a high chance that Bitcoin will get hit hard.
But if this process takes time and moves slowly, then it can be possible that BTC will make side-ways momentum for the next few months.
The trend of Bitcoin's price has been becoming bearish since December 2021, and it is expected that this trend will reverse before Jan 2023. If you look at the chart, there are Fibonacci levels of long-term view—which indicate that there is no bull run below the $30000 resistance zone.
Right now the BTC Cryptocurrency trade at $37,733.2
As we can see in the daily chart, Bitcoin price has rejected from $20000 and again and again so that mean that $20k is first resistance for BTC. The strong support zone is around $18500–$18800. There is a good risk-reward ratio near the $19,000 level for buying opportunities in the market.
Bitcoin was first introduced in 2009 and began trading at a value of $0.00. As no one knew about it at the time, users were able to access it completely free of charge until 2010 when the value increased to $0.09 per coin.
Like any asset or security, whether you should invest in cryptocurrencies depends on your investment objectives and preferences. We advise investors not to consider it a speculative investment, but we also urge caution with the substantial risks and extreme volatility.
As I have explained above, bitcoin prices are subject to fluctuations based on demand and supply. If more people believe that it is the future and accept it as quickly as possible, there is a greater chance that bitcoin will rise again.
There are many resistance areas in the higher levels, and we know that the previous Bitcoin 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 months are pretty much gone. And a question about what happened after ten years? We have no idea where Bitcoin or any other cryptocurrency is going in the next ten days. Keep in mind everything is forecast based on previous levels and a few technical instruments.
The information provided in this article is not financial or investing advice. The author does not make any warranties about this information's completeness, reliability, and accuracy. The cryptocurrency market is volatile, and it can be difficult to predict which coins will rise and fall in value over time. Any investor should research multiple viewpoints before committing to an investment.