Bitcoin Price Prediction: Can BTC Coin Reach $1,000,000?

July 23, 2024

Price Prediction

Sean Korbett

Bitcoin (BTC) is the first cryptocurrency that spawned a number of other crypto projects, also known as altcoins. It was initially the first of a new kind of asset, a decentralized form of digital cash that eliminates the need for traditional intermediaries like banks and governments. With time, it became prominent and its price reflects that. How much will Bitcoin cost in the future? What are we to expect from the first cryptocurrency? Discover the Bitcoin price prediction in StealthEX’s latest article.

Bitcoin (BTC) Overview

Initially, a virtual currency known as Bitcoin (BTC) was intended to function as money and a mode of payment independent of any one individual, organization, or body. It eliminates the requirement for financial transactions to include a reliable third party. It can be acquired on a number of exchanges and is given to blockchain miners as compensation for validating transactions, and the process itself is called ‘mining.’

A distributed ledger, or blockchain, is a network of linked shared databases connected via cryptographic methods. ‘Distributed’ refers to the fact that it is kept on multiple computers as opposed to a centralized server, which is the standard for data storage.

Very little is known about the creator of Bitcoin, Satoshi Nakamoto, who created the Bitcoin network in 2009. It is thought to be a pseudonym, and some people even think there could be more than one person behind its creation. Nakamoto originally designed Bitcoin as an alternative to traditional money, with the goal for it to eventually become a globally accepted legal tender so people could use it to purchase goods and services. However, the volatility of Bitcoin’s price has hindered its usefulness for payments in various ways. On the other hand, it has also led to various speculations and wild swings in Bitcoin’s price helped many investors earn money.

Bitcoin Features

Bitcoin offers a number of features within the crypto space. As Bitcoin is the first cryptocurrency and a pioneer in the field, it has certain features that helped define the whole crypto space. These are:

1. Hard cap of 21 million. The fixed supply dynamic of Bitcoin has become one of the key value propositions for the market demand and incentive to continue validating the network.
2. Decentralization. Decentralization acts as a checks and balances system before blocks are added to the chain. The decentralized BTC network is a core feature that makes Bitcoin unique.
3. Network effects. Estimates suggest there are over 100 million active BTC users across the world. The popularity and ubiquity of Bitcoin make it more valuable. The fact that Bitcoin is considered a legitimate store of value and used by so many people gives it more liquidity and acceptability than most other traditional assets.
4. Immutability. Every transaction on the Bitcoin network is stored on a block that is linked to a previous block of transactions. This blockchain technology is immutable, which means no entity can erase or alter any information on the network.
5. A high degree of censorship resistance. Censorship resistance refers to the freedom to transact, the freedom from confiscation, and transaction immutability.

Bitcoin (BTC) Price History Highlights 

• 2009-2011: Bitcoin had a price of zero when it was first introduced to the world. On October 26, 2010, its price surged from its sustained level of $0.1 to $0.2. It had reached $0.30 before the year ended. When the cryptocurrency markets saw a severe downturn in 2011, Bitcoin’s price plummeted, ending the year at roughly $5. The price of the cryptocurrency began to rise over $1 in 2011 and peaked on June 8, 2011, at $29.6.
• 2012-2013: BTC did rise in price during 2012, but generally the year turned out to be quiet. 2013 saw significant increases in price of the first cryptocurrency. With a starting price of $13, Bitcoin reached $100 by April and $200 by October. For the rest of the year, Bitcoin saw record highs. November saw it surpass $1,000, and at the end of the year, it was $732.
• 2014: After hitting $1,000 in early January, Bitcoin bottomed at $111.6.
• 2015: The year 2015 started with Bitcoin declining, but most of the year was a slow uptrend, unusual for Bitcoin, and it ended the year at $430.
• 2016: The first half of 2016 saw a continuation of this pattern of comparatively low volatility and stable prices. By year’s end, Bitcoin was just shy of $1,000, a mark it had achieved in early 2017, a landmark year for the cryptocurrency in terms of public awareness.
• 2017: 2017 had a range of $1,000 to $2,000 for Bitcoin before it broke $2,000 in mid-May and surged to close at $19,188 on December 16.
• 2018-2019: The price of Bitcoin fluctuated a little between 2018 and 2019, with sideways movements. For instance, in June 2019, there was a price and trade volume rebound, with the price rising beyond $10,000. But by mid-December, it had dropped to a closing price of $6,612.
• 2020: The COVID-19 pandemic shut down the economy in 2020. The price of Bitcoin surged once more. The first cryptocurrency started the year at $7,161. The government’s actions after the pandemic shutdown fuelled investors’ concerns about the state of the world economy and hastened the ascent of Bitcoin. As of November 23, the price of Bitcoin was $18,383. On December 31, 2020, the price of BTC closed at $28,993, up 416% from the beginning of the year.
• 2021: By January 7, 2021, Bitcoin had surpassed $40,000, shattering its 2020 price record in less than a month. Bitcoin values hit fresh all-time highs of more over $60,000 by mid-April, according to Coinbase. Prices dropped by fifty percent by the summer of 2021, closing on July 19 at $30,829. Another bull run occurred in September, when prices nearly reached $52,956. However, a significant decline caused it to close at $40,597 around two weeks later.
• 2022: The price of Bitcoin fell steadily between January and May 2022, closing at only $47,459 by the end of March before plunging even lower to $29,000 on May 11. For the first time since July 2021, the closing price of Bitcoin fell below $30,000. Cryptocurrency prices fell on June 13. For the first time since December 2020, the price of BTC fell below $23,000.
• 2023: In 2023, Bitcoin’s fortunes drastically turned around as its price skyrocketed. In 2023, the opening price of Bitcoin was $16,530. It increased steadily in 2023, reaching $42,258 at the year’s end.
• 2024: The first half of 2024 brought some changes for BTC. With the upcoming halving the price started going up. Moreover, its was fuelled by the long-awaited spot exchange-traded funds (ETFs). As a result, in March the oldest digital asset in the world hit its all-time high of $73,750.07. Right now it trades between $67,000 and $68,000.

Bitcoin (BTC) Price Chart    

CoinMarketCap, July 23, 2024

Bitcoin Price Prediction: 2024, 2025, 2030, 2040, 2050

BTC Price Prediction 2024

DigitalCoinPrice experts believe that in 2024 Bitcoin’s price can drop to a minimum of $60,398.25 (-10%), while at its high it can reach a staggering $147,313.42 (+118%).

PricePrediction crypto analysts expect that in 2024 BTC is going to hit $77,465 (+14%) at its lowest point or reach $88,934 (+31%) as its new all-time high.

Telegaon crypto experts think that the lowest price BTC can hit in 2024 is $76,568.52 (+13%) vs its maximum price of $96,919.93 (+43%).

Bitcoin Price Prediction 2025

According to DigitalCoinPrice, in 2025 BTC can go as high as $172,703.4 (+155%) at its peak. Its lowest price might drop to $144,497.14 (+113%).

PricePrediction forecasts promise that in 2025 Bitcoin will definitely go beyond $100,000: a minimum of $112,088 (+65%) at its lowest point vs $136,032 (+101%) at its peak.

Analysts at Telegaon expect that in 2025, BTC will rise in price even higher: it can reach a maximum price of $125,360.85 (+85%), while at its lowest point it can drop to a minimum of $97,078.79 (+43%).

Bitcoin Price Prediction 2030

According to DigitalCoinPrice, by 2030 Bitcoin’s price can surpass $500,000 at its highest point and hit $502,992.08 (+644%), while even at its minimum it won’t go lower than $453,641.3 (+571%).

According to PricePrediction forecast, by 2030 BTC will shoot way over its current price levels: its lowest price is projected to be $698,896 (+934%), while at its peak it’s supposed to come close to a million dollars – $816,778 (+1,109%).

Telegaon price predictions are more moderate: their experts estimate that in 2030, Bitcoin is going to reach $318,330.26 (+371%) at its minimum and might trade at a maximum of $384,504.82 (+469%).

Bitcoin Price Prediction 2040

According to PricePrediction forecasts, in 2040 BTC will reach staggering price levels: its minimum price is expected to be a whopping $3,501,118 (+5,083%), while its maximum price is going to hit $3,851,230 (+5,602%).

Telegaon analysts expect that in 2040, Bitcoin is going to hit $704,543.18 (+943%) at its lowest point and $818,512.87 (+1,111%) at its highest point.

Bitcoin Price Prediction 2050

According to PricePrediction forecasts, in 2050 Bitcoin will become even more valuable: its minimum price is estimated to be $4,481,431 (+6,535%), while its maximum price is going to hit $5,064,950 (+7,399%).

Telegaon promises that in 2050 Bitcoin’s price will go beyond one million dollars: it’ll cost $1,209,315.82 (+1,690%) at its minimum and $1,508,174.28 (+2,133%) at its maximum. 

Bitcoin Price Prediction: Experts’ Opinions

2024 has been a successful year for Bitcoin so far, following its halving, which reduced the market circulation of BTC by halving mining profits. However, the strong bullish tendencies that prevailed after previous halving events, have subsided and were replaced by a more moderate market sentiment.

Standard Chartered’s analysts expect that Trump’s victory in the presidential elections to boost the price of Bitcoin. They also stick to their earlier price predictions, maintaining year-end and 2025 targets of $150,000 and $200,000, respectively. The bank has predicted that Bitcoin could reach $100,000 by November, and that the first cryptocurrency could reach a new all-time high in August.

In June, a famous billionaire Mark Cuban stated in his X account that Bitcoin’s price can go ‘way higher than you think’ because people can turn to Bitcoin as a ‘safe haven.’ Another prominent celebrity investor, Hugh Hendry, has just predicted a 3X surge in Bitcoin price and stated that it would surpass NVIDIA’s market cap. Many investors searching for high-growth prospects in the crypto market have found resonance with the positive viewpoint.

BTC USDT Price Technical Analysis

Tradingview, July 23, 2024

Now that we’ve seen possible price predictions for BTC, let’s find out a bit more about the factors that can influence its price.

Factors Affecting BTC Coin Price

The price of Bitcoin is influenced by several factors, including supply and demand, rivalry from other cryptocurrencies, news, manufacturing costs, and legal restrictions. Furthermore, laws pertaining to cryptocurrencies are constantly evolving. While China banned cryptocurrency transactions in 2019 for official reasons, other countries, like El Salvador, which made Bitcoin legal tender in 2021, are not in favor of cryptocurrencies. Regulations can have a big impact on the dynamics of the Bitcoin market, which might result in uncertainty and either higher or lower prices.

Recently, new developments on the crypto market have influenced the price of Bitcoin and other cryptocurrencies. The US has made the long-awaited decision to allow Bitcoin to be part of mainstream investing funds. It has approved what are known as spot Bitcoin exchange-traded funds (ETFs), which can be purchased by anyone from pension funds to ordinary investors. This, combined with Bitcoin’s halving, led to a short bullish run in March. The second quarter saw a slowing of inflows and even on occasion sizable net outflows into the U.S.-based spot ETFs. Then in late June into early July, a flood of supply from the sale of government holdings and the return of Mt. Gox tokens sent the price crashing to below $54,000 at one point, nearly 27% below that record high.

When assessing Bitcoin as an investment, keep the following considerations in mind:

• Supply and demand;
• Halving events;
• Hype and news;
• Market sentiment;
• State of the economy;
• Regulatory developments.

Risks and Opportunities

The choices for keeping and accessing cryptocurrency provide difficulties and potential risks, even though the blockchain technology that powers cryptocurrencies makes transactions transparent and verifiable. One of the biggest risks is the possibility of losing access to one’s own money. Some investors have found themselves unable to touch their multi-million-dollar Bitcoin fortunes because they misplaced or have forgotten the digital keys to their accounts. Aside from the challenges of safely storing passwords and digital keys, buying and selling cryptocurrency can be complicated technologically, with many people finding it difficult to enable the necessary software and hardware. This may be seen as a serious challenge for many inexperienced investors.

Nonetheless, despite the pitfalls, Bitcoin has become popular and appears to be going mainstream. It’s been going from strength to strength, and many institutional investors are currently flooding into the field.

Is Bitcoin a Good Investment?

Whether or not Bitcoin is a secure investment depends on how you define security. Without a doubt, there can be significant swings in the price of Bitcoin. Its price has seen swings in both directions, up and down. After losses like these, investors would run for any other asset class. If you consider security as an investment with a usually consistent price, then Bitcoin could not be a safe investment for your portfolio. All indicators point to Bitcoin’s continued growth, thus it will be a valuable asset for those who can take on a high level of risk.

How Much Will I Get if I Invest $100 in Bitcoin Today?

A $100 investment in Bitcoin today is unlikely to yield a fortune but could still offer solid gains in the long run. $100 today would give you 0.0015 Bitcoin. According to PricePrediction, in 2030 your investment will be worth $1209. According to DigitalCoinPrice, in 2030 your $100 investment will equal $744. According to Telegaon, in 2030 your investment will grow to $569.

Is It Safe to Invest in Bitcoin Today?

Given its high volatility and risk profile, Bitcoin is generally only a good choice for those with high risk tolerance, sound financial standing, and the ability to lose all or part of their investment.

Will Bitcoin Go Up?

It is anticipated that it will.

How Much Will Bitcoin Be Worth in 2025?

According to Telegaon, in 2025 Bitcoin will peak at $125,361.

How Much Will 1 Bitcoin Be Worth in 5 years?

The long-term projection of the Bitcoin price appears to be bullish: Telegaon experts believe that in 2028 Bitcoin will cost $239,987.

Will Bitcoin Go Up 2030?

The price or flow of Bitcoin is unpredictable. However, many analysts believe that it will.

What Will the Price of Bitcoin Be in 2035?

Telegaon experts think that by 2035, BTC will reach a staggering $593,112.

What Will 1 Bitcoin Be Worth in 2050?

Telegaon analytics believe that in 2050, 1 Bitcoin will trade at $1,508,174.

Conclusion

Bitcoin has enormous potential to innovate and disrupt the financial industry in the future. Despite the fact that cryptocurrencies provide benefits like decentralization, security, and accessibility, investors need to be aware of the risks and volatility of the market. The future of Bitcoin will be greatly influenced by improvements in technology, regulations, and institutional acceptance. This might ultimately result in a more widely accepted, regulated and predictable crypto market.

Where to Buy Bitcoin (BTC)?

StealthEX is here to help you buy BTC crypto if you’re looking for a way to invest in this cryptocurrency. You can buy Bitcoin privately and without the need to sign up for the service. StealthEX crypto collection has more than 1500 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

How to Buy BTC Crypto: Quick-Step Guide

Just go to StealthEX and follow these easy steps:

• Choose the pair and the amount you want to exchange — for instance, ETH to BTC.
• Press the “Start exchange” button.
• Provide the recipient address to transfer your crypto to.
• Process the transaction.
• Receive your BTC coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.