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 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 June 2024, the BTC market remains bullish.

3. Predictive forecasts

• Our AI/ML predictive algorithms forecast that Bitcoin can likely average over $2 million in 2028 and over $17 million in 2031.

Stay informed 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: Investor belief remains high in the king coin

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. 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 standing afoot at $25,000. A mid-June test to claim $30,000 led to subsequent declines. Thus, the price eventually fell back to the former support by mid-August.

It wasn't until the end of October that BTC finally broke through the upper level. 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. This growth was attributed to the launch of the BTC spot exchange-traded funds (ETFs). As the month progressed, bullish momentum intensified propelling Bitcoin's market capitalization over 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 managed to retest the high chart resistance at $71,000 towards the end of the month. What followed was a broader market crash that pushed the coin below $65,000 by mid-April. Yet, the $60,000 support was held on the higher time frame. 

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 reclaim $65,000. It even soared to highs over $71,000. Yet, it retracted back. AMBCrypto reported that the May U.S. jobs report triggered this drop. As a result of this decline, the market capitalization also suffered.

Nonetheless, a recent AMBCrypto report highlighted that the Thermo Cap ratio showed strong network fundamentals and steady investment growth in Bitcoin. However, the Network Value to Transactions (NVT) metric dropped, indicating insufficient transaction volume to justify current BTC prices. 

Despite this, investor confidence remained high, bolstered by the argument for Bitcoin as an inflation hedge. The futures market participants stayed cautious with subdued funding rates. A significant boost came from an $886 million inflow into Bitcoin ETFs on June 4, providing the needed bullish momentum.
 

AMBCrypto also highlighted a resurgence in Bitcoin purchases by whales, reaching a two-month high. Their holdings also reached a record peak. This renewed buying spree suggested that large investors viewed the current high prices as an attractive entry point for accumulating. This brought the king coin to trade to $69,354 by the end of the analysis period. 

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, the potential for a downtick is scrutinized amidst the market uncertainty. Thus, bearish predictions suggest a drop to the $60,000 mark and potentially lower. A decisive bearish breakdown 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 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 $2 million. Looking ahead, the projections become even more striking.

Our models predict that Bitcoin's average price will exceed $17 million by 2031. 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, albeit with a brief dip below 50 coinciding with the price’s fall to its lowest support. By the end of October, it 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 was back above 70, reaching a high value of 88.36 in March. By late April, it dropped below the overbought region. Yet, it maintained its proximity to it, registering at 69.86 by the end of the analysis. This indicated 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 at 0.41 in mid-July. The indicator dipped into negative territory between August and mid-October before reversing its trajectory.
• Since then, it has mostly been trending higher, with a press time value of 0.34. This was the highest value since July, highlighting 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.