By now, you may have heard about Bitcoin and its success in the cryptocurrency world. The past BTC price has been a roller coaster of surprises from a tremendous increase in value to a couple of crashes here and there. So far and from the past records, experts have made Bitcoin price predictions, which shows that the years ahead are very promising.
If you are a crypto investor looking to grow your Bitcoin digital assets over the coming years, this article will help you understand the crypto market and what BTC prices will look like in the coming years.
Before we look at the current prices and dwell more on the future, let's look at the brief history of BTC price growth.
Bitcoin Price Growth
When making Bitcoin price predictions, experts first look at past trends, current price determinants, and then predict the future price.
Bitcoin creators still remain anonymous, although people believe that someone or a group of people named Satoshi Nakamoto created the crypto in 2009. Immediately after it started, it was less than a US dollar but rose to $29 within a few months.
At the beginning of 2013, the digital currency was valued at $200 and then rose to $1,200 by the end of the year. This is still considered a phenomenal year in Bitcoin price predictions.
Over the years, particularly from 2017 to today, BTC has grown significantly in value. Today, it is worth $41,711. Although Bitcoin reached a record high in April 2021 at the value of $64,800, the current value is still considered as part of the continuous growth.
Bitcoin Price Predictions for 2022-2025
Various crypto stakeholders have been keen to advise investors to make smart decisions. We all know that volatility around BTC and other digital assets is not a surprise. So, any legit and helpful prediction is important for investors.
- 2022 – We are already in March 2022 and the Bitcoin price is currently at $41,711. When related to how it started when opening the year, experts say there is a 0.56% to 0.61% growth, which is a more stable growth as compared to the 0.25% growth in 2021. If all goes well, this growth is expected to maintain until the end of the year. However, there is a concern about the COVID-19 pandemic and the Russia vs. Ukraine war, which might affect the growth. Experts advise on making wise decisions of holding, participating in yield farming, and using secure platforms to do so. The Loop market is among such platforms and you can get more information by visiting their website.
- 2023 and 2024 – Within these two years, experts on Bitcoin price predictions say that the digital currency might go as high as between $70,000 and $85,000. This is a double growth as compared to where it is now. The world will have managed the current pandemic and the demand for crypto coins will be very high. Therefore, you can buy the coin now and wait to sell in the coming years.
- 2025 and beyond – There is good news for investors who can afford to hold their digital assets until 2025 and beyond. The current Bitcoin price predictions imply that its price will shoot to $100,000 in three years and $110,000 in five years. 2025 will be the beginning of this historical price mark, according to experts. Investors can choose to buy a few Bitcoins now and wait until then or actively buy and sell between now and then for incredible profits.
Forces Affecting Bitcoin Prices
Apart from the previous history we just looked at, Bitcoin price predictions can also be made using various factors that affect the price of 1 BTC. Here are some of them:
- Supply and demand – According to studies, a big supply of something will lower its value. Bitcoin keeps getting scarce as the demand increases. It’s no wonder why Bitcoin has been increasing in value because the demand is also very high.
- Cost of mining – Miners use a lot of electricity and other resources to verify transactions and store crypto information. The more Bitcoins are in the market, the more of these resources are used, so its price keeps growing. They get rewarded for the work and this also affects the price.
- Other cryptocurrencies – When doing Bitcoin price predictions, experts also look at competing cryptocurrencies such as Ripple, Doge, and Ethereum. Although none is as high as Bitcoin, they affect its value because they distort the demand growth.
- Political and governance issues – Although Bitcoin is a decentralized finance operation not regulated by any government, its operations are highly affected by political and governance issues of a specific country. This will definitely affect the prices now and in the future.
It is important to understand Bitcoin price predictions if you are an investor or planning to invest. Ensure that you have an expert to take you through this, especially if you are in the buying and selling of BTC. With the above insights, you can make important decisions.