Bitcoin price prediction 2024-2030: Will BTC price surpass $100K post-halving?

Key takeaways

• Bitcoin price faces intense volatility around $67K.
• Our Bitcoin price prediction expects BTC’s price to reach $100K by the end of 2024 due to the bullish sentiment following the halving event.
• By 2030, BTC might touch $270,593 following increased institutional adoption.

Bitcoin’s price has again faced resistance around the $65K mark, marking the third bearish reversal this year. This pattern, supported by various bearish indicators and technical data, suggests a potential trend reversal. However, analysts still believe that Bitcoin could reach $100,000.

As the second quarter closes at a subdued pace, the onset of Q3 sees a breakout rally with ambitions to quickly exceed $70K. Rising from the vital $60K support level, there is growing hope about the onset of a sustained bull market.

CryptoQuant’s CEO, Ki Young Ju, noted in a recent X post that in 2020, Bitcoin stayed around the $10,000 mark for six months amid high on-chain activity, before surging to $64,000 in 2021. Observing 2024, a similar pattern is emerging, with daily additions of $1 billion to new whale wallets. 

However, despite mixed spot Bitcoin ETF flow, the US Bitcoin sentiment develops a bullish trend as BTC HODLers anticipate a continuous uptrend beyond $75,000. This has led analysts to wonder: Will this lead Bitcoin’s price past $100,000? The current BTC trading sentiment is bullish, as Bitcoin traded at its highest point in the pre-halving rally. Since 2024 is bullish for the crypto market, anticipation is that the BTC price could hit $100K during this season.

As Bitcoin on-chain activities surge, questions arise, such as: “Does Bitcoin have the potential of hitting the $100K mark?” or “Will Bitcoin ever go up?” or “Where will Bitcoin be in 5 years?” Let’s answer them using our Bitcoin price prediction.

Overview

Bitcoin Price Prediction: Technical Analysis

Bitcoin price analysis

TL;DR Breakdown:

• BTC price analysis shows that Bitcoin faced bullish pressure above $67,000
• Resistance for BTC is present at $69,986
• Support for BTC/USD is present at $64,462

The BTC price analysis for 17 October confirms that Bitcoin is facing increased buying pressure toward the $67K mark. Bitcoin price now aims for a quick recovery above the immediate resistance level.

BTC price analysis 1-day chart: Bitcoin price faces bullish volatility toward $67K

Analyzing the daily Bitcoin price chart, we see that BTC’s price faced intense pressure as it aimed to hold its bullish momentum. As a result, Bitcoin price is now aiming for a hold above the $67K mark. The 24-hour volume has surged to $16.9 billion, rising interest in trading today. BTC is currently trading at $67,405, increasing by over 1.6% in the last 24 hours.

Bitcoin shows bearish volatility

The RSI-14 trend line has surged from its previous level and currently trades above the midline at 66, hinting that a bullish pressure is on the edge. The SMA-14 level suggests volatility in the next few hours.   

BTC/USD 4-hour price chart: Bulls aim for an immediate correction

The 4-hour Bitcoin price chart suggests that bulls are strengthening their position as they are aiming to hold the price above the EMA trend lines. However, bears are maintaining selling confidence as the BTC price aims for a retest of support.

The BoP indicator trades in a positive region at 0.65, showing that short-term buyers are taking a chance to accelerate an upward trend.

Additionally, the MACD trend line has formed bullish candles above the signal line and the indicator aims for a positive momentum, strengthening long-position holders’ confidence.

Bitcoin Technical Indicators: Levels And Action

Daily Simple Moving Average (SMA)

Daily Exponential Moving Average (EMA) 

What to expect from BTC price analysis next?

The hourly price chart confirms that Bitcoin attempts to drop below the immediate support line; however, bulls are eyeing for further recovery rally in the upcoming hours. If BTC’s price holds momentum above $69,986, it will fuel a bullish rally to $73,677.

If bulls fail to initiate a surge, the BTC price may drop below the immediate support line at $64,062, beginning a bearish trend to $59,013.

Is Bitcoin a Good Investment?

The rising institutional demand for Bitcoin makes it a good investment option. However, Bitcoin has a short investment history filled with very volatile prices. Whether it is a good investment depends on your financial profile, investment portfolio, risk tolerance, and investment goals.

Why is Bitcoin Down Today?

Today, Bitcoin faced intense selling pressure as it dropped below the crucial $61K support line. This created a surge in stop-loss orders for holders. However, buyers are defending further declines and aiming for a quick recovery.

Will BTC Price Recover?

If buyers hold the buying momentum of Bitcoin and send it past the $65K mark, we might see a significant recovery in the coming hours. The current low might be a good time to buy and this might create a strong support level for BTC price.

Will BTC Price Reach $100K?

Depending on the current market sentiment, Bitcoin price might hit the $100K mark by the end of 2024. However, any bearish news might weaken this prediction.

Will BTC Price Reach $1 Million?

$1 Million is a significant milestone for BTC price. However, it is achievable if Bitcoin continues to attract institutional interest in the coming years.