Bitcoin Price Prediction: 2024, 2025, 2030

BTC price prediction: Key highlights

1. Primary support and resistance levels

• An analysis of the weekly time frame revealed $40,000 as 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

• The BTC market is seen to be slightly bearish in September 2024.

3. Predictive forecasts

• Our AI/ML predictive algorithms forecast Bitcoin's value to likely average close to $120,000 in 2028 and over $400,000 in 2035.

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

BTC technical analysis: Mapping the king coin’s tough road ahead

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 started out experiencing a massive bull run. Yet, the recent downturn has posed many challenges. Several analysts anticipate that the Bitcoin price prediction for 2024 will be monumental as the price can achieve record-breaking levels.

The period under review started with the coin rising to reclaim its lowest yearly support at $26,000 in mid-September. After briefly stabilizing, the BTC bulls began rallying in Q4 2023. With this rally, they successfully claimed $40,000 by December. After this, the coin consolidated between this support and $45,000.

In February, BTC experienced a bullish breakout, rising above the latter for the first time since April 2022. This growth was attributed to the launch of BTC spot exchange-traded funds (ETFs). 

As the month progressed, bullish momentum intensified, with $52,000 converted into a support level by the end of February. 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. Despite this pullback, BTC retested the highest resistance at $72,000 in April. A broader market crash followed, pushing the coin to $60,000 again
 

The highly anticipated halving event did not trigger a massive surge in the price or lead to a sell-off. While the altcoins experienced bull rallies, BTC remained relatively stagnant. Moreover, April marked the first time since BTC ended the month with a negative price return. 

By mid-May, optimism started to rebuild as the price pumped to retest the yearly peak resistance. Yet, it retracted once more. AMBCrypto credited this drop to the May U.S. jobs report. As a result of this decline, the market capitalization also suffered.

The market continuously bled throughout June, compromising the four-month held support at $60,000 by July. AMBCrypto highlighted a notable influx of over $1 billion worth of BTC sent to exchanges in the first week of July. Additionally, Mt. Gox conducted a test transaction of over 1,000 BTC to prepare for planned payouts to creditors, moving $2.7 billion worth of Bitcoin to a new address. 

These transfers, coupled with the German government dumping coins in the market, triggered widespread panic and raised fears of massive sell-offs in the community. Nonetheless, the coin reclaimed $60,000 by mid-July. This resurgence coincided with the news of the assassination attack on former US President Donald Trump. Meanwhile, the whale accumulation continued to grow.

Concurrently, the German government offloaded its BTC reserves entirely in mid-July. Furthermore, Mt. Gox’s balance lowered, signaling that the supply pressure was almost over. 

Nevertheless, the news of Japan's interest rate hike stoked fears of a market crash similar to 2008. This development likely contributed to Bitcoin retracting below $60,000. In early August, it dropped to the $52,000 support but maintained proximity to the previous level. It surged slightly over it mid-month. The recovery was reportedly driven by over $2.5 billion of Bitcoin shorts liquidations.

Regardless, the inability to make a decisive move over $60,000 emphasized the strong selling pressure. Furthermore, BTC closed August in red amid massive outflows from Binance. September also began pessimistically, further deteriorating the king coin’s value. At press time, BTC’s trading price was $55,733.

How high/low can BTC go in 2024?

AMBCrypto analyzed historical trends, revealing that BTC has performed bearishly in eight out of 11 Septembers since 2013. Nonetheless, the anticipated FED rate cuts and global liquidity recovery instill hopes of a revival. 

Moreover, AMBCrypto’s July research report noted that many believe Trump’s presidency could push BTC over $80,000. The potential launch of Bitcoin options trading could further improve mainstream adoption. 

Analysts also assert that a post-halving rally for BTC can still be expected. A recent report by AMBCrypto supported the positive outlook, underlining several indicators for a possible bullish phase.

Several 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 its ability to push past a critical threshold of $70,000 to $75,000. Sustained momentum above these levels can likely put $80,000 on the cards.

Nevertheless, AMBCrypto observed a descending channel in the shorter time frame, signaling more declines to $52,000. Meanwhile, the convergence of the channel’s lower boundary with this support zone hinted at a significant breakout, potentially driving the asset to new highs.

However, a decisive downtrend could see Bitcoin's value dropping to between $45,000 and $40,000. Such a scenario would likely be temporary, paving the way for BTC to rebound.
 

Based on our predictive models' predictions, the coin is anticipated to average around $120,000 within four years. The projections become even more striking in the long term. Our models predict that Bitcoin's average price will be close to $400,000 by 2035. 

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

• The Relative Strength Index (RSI) recovered over 50 in late September. It entered the overbought territory by October's end, only to recede in January. In February, the RSI climbed above 70 again, peaked in March, and dropped below. 
• This downtrend intensified in June, pushing the indicator below the 50 line by July. After a brief resurgence in mid-July and mid-August, it dipped again. The indicator stood at 45.49 at press time, indicating a bearish bias.
• The Chaikin Money Flow (CMF) stayed below the zero line until mid-October. After that, the indicator maintained positive values, closing at 0.02. This marked a decrease from earlier highs, reflecting increased selling pressure.
• The trading volume mirrored the price movements. The bullish rallies saw the volume recover significantly, indicating that they were backed by substantial investor interest. Additionally, investor caution was also apparent during the price downturns.