Bitcoin is the most well-known cryptocurrency, the market leader and standard bearer of all crypto charts. You have probably noticed that when the price of BTC falls, other currencies follow its trend, and vice versa, so the value of BTC often determines the overall market trend.
In the spring of 2022, the Bitcoin price went through a difficult phase and fell to around $19,000. As of mid-September, the BTC to USDT pair is traded at $20,368. So the BTC rate slightly recovered.
What will happen to BTC in the future, and is the BTC prognosis optimistic enough to buy it now? Let’s talk about it in this article.
What Impacts the BTC Price?
Here are some factors the BTC rate depends on:
- Complexity of mining one BTC, expenses for mining equipment and maintenance.
- Investor sentiment
- The market trend
- News background
- Prevailing global economic conditions
- Supply and demand.
One crucial factor impacting the BTC rate we specifically did not mention in the list is BTC halving.
What is Halving and how Does It Affect BTC Prediction?
Bitcoin halving is the event happening every 4 years. The essence is the reduction in the Bitcoin supply. The maximum supply of Bitcoin is 21 million coins. The number of coins issued is twice cut every 4 years, reducing the supply, which in turn increases the scarcity of the coins and causes their price boost (we remember, the lower the supply, the bigger the demand). According to the researchers, the price of BTC enjoys a bull market every time it is halved. And we have all the reasons to think it will happen again after the next halving in March 2024.
Some experts draw the BTC future price prediction reaching between $120,438 and $137,071 by 2025; the prediction for 2030 is even more optimistic, with analysts estimating the price level at $267.635.
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Tiesha loves to share her passion for everything that’s beautiful in this world. Apart from writing on her beauty blog and running her own beauty channel on Youtube, she also enjoys traveling and photography. Tiesha covers various stories on the website.