Bitcoin Price Prediction: 2024, 2025, 2030

BTC price prediction: Key highlights

1. Primary support and resistance levels

Our analysis of the weekly time frame revealed $40,000 to be the lowest probable support for BTC in 2024.
As the king coin ascends, it can face its highest resistance at around $70,000 to $75,000.

2. Market sentiment

In April 2024, Bitcoin has been undergoing a correction after being overbought.

3. Predictive forecasts

Our AI/ML predictive models forecast that Bitcoin can likely average over $145,000 in 2028 and over $800,000 in 2035.

Gain valuable insights on BTC’s future trajectory through a comprehensive weekly technical analysis, followed by coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

BTC technical analysis: Will the price recover before the halving?

In 2023, BTC demonstrated a remarkable recovery from its lows in 2022, showcasing a year of significant volatility and growth. This year, the king coin is experiencing a massive bull run. Yet, the recent political instability has posed many challenges. Many analysts anticipate the Bitcoin price prediction for 2024 will be monumental as the price can achieve record-breaking levels.

The period under review started with the price testing the resistance at $30,000 in April. However, this led to a slight rejection, and the price retracted to $25,000. This pattern repeated in mid-June when the coin’s retest of the resistance led to subsequent declines. The price eventually fell back to $25,000 by mid-August.

It wasn’t until the end of October that BTC finally broke through this resistance. Continuing this rally, the price successfully claimed $40,000 as support by December. After this, the price consolidated between this support and the resistance at $45,000.

In February, BTC experienced a significant bullish breakout that saw the cryptocurrency surge through the $45,000 barrier for the first time since April 2022. As the month progressed, bullish momentum intensified, with the $52,000 resistance level vigorously tested by bulls.

By the end of February, this resistance was successfully converted into a support level, highlighting the strength of the rally. Concurrently, Bitcoin’s market capitalization reclaimed the $1 trillion mark, as per CoinMarketCap.

The uptrend carried into March, and Bitcoin hit $73,777 on Binance, surpassing its previous all-time high (ATH). However, a retracement occurred, with prices dropping as low as $60,000 the following week.

This was another significant drawdown since the exchange-traded fund (ETF) launch, with the earlier drawdown being 20%. While notable, this post-ETF decline was considered a necessary adjustment for Bitcoin’s price to accelerate its growth.

Despite this pullback, BTC managed to retest the high resistance at $70,000 towards the end of the month. This resulted in a decline closer to the current support at $62,000. As the analysis concluded, BTC closed at $63,152.

AMBCrypto’s analysis revealed that as the halving event nears, prices might temporarily dip due to a “sell the event” reaction before the market regains its momentum. This has materialized, as evidenced by the recent price movements.

The recent increase in the Net Taker Volume combined with a drop in Bitcoin non-fungible tokens (NFT) sales has further fueled the drop. Additionally, AMBCrypto pointed to new data that showed that the Bitcoin Realized Profit/Loss Ratio fell below one. In the past six months, such trends have often indicated a potential local bottom for BTC.

While the current market conditions might suggest short-term negativity, they may also set the stage for an upcoming rebound or stabilization phase. Furthermore, Bitcoin is approaching its next halving event in less than a week. This could generate bullish sentiment, supporting Bitcoin’s price recovery in the near future.

A number of experts are forecasting significantly higher valuations for Bitcoin. These predictions suggest that BTC could escalate to monumental price points of $100,000 to $150,000. This optimistic outlook hinges on IT’s ability to push past a critical threshold of $70,000 to $75,000. Sustained momentum above these levels can likely put $90,000 on the cards.

Despite these bullish forecasts, the potential for a downtick is scrutinized amidst the market crash due to geopolitical uncertainty. A bearish breakdown could see Bitcoin’s value dropping to between $40,000 and $50,000. Such a scenario would likely be temporary, paving the way for Bitcoin to rebound and attain new heights.

Based on the future predictions from our predictive models, BTC is forecasted to experience a significant increase in value. Within four years, the coin is anticipated to trade at an average price exceeding $145,000. Looking ahead, the projections become even more striking.

Our models predict that Bitcoin’s average price will exceed $800,000 by 2035. This long-term forecast highlights Bitcoin’s expected continued growth and adoption as a major digital asset in the financial landscape.

BTC’s 2024 roadmap: Key indicators to watch and trade

The Relative Strength Index (RSI) generally remained bullish. In mid-August, there was a temporary dip below 50, but it recovered by the end of September.
By the end of October, the RSI moved into the overbought region. However, a minor price drop in January caused the indicator to move below this region and remain there for most of the month.
In February, the RSI resumed its upward trajectory, reaching a high value of 88.36 in March. By the end of the analysis, the indicator registered at 67.33. It could be an indication of either a cooling off of the upward momentum or a stabilization without a sharp reversal.
The Chaikin Money Flow (CMF) followed a comparable pattern. Its peak value was recorded in mid-July at 0.41. The indicator dipped into the negative territory between August and mid-October before turning positive again.
Since then, it has mostly been trending higher, standing at 0.23. This value reflected a slight dip yet highlighted the strong buying pressure and accumulation.
The trading volume mirrored the price movements. The bullish rallies saw the volume recover significantly, indicating that they were backed by substantial investor interest.