What is Bitcoin?
Bitcoin is the world’s largest and flagship cryptocurrency. A brainchild of the mysterious Satoshi Nakamoto, it came into being in 2009. Powered by revolutionary blockchain technology, it seeks to enable and enhance decentralized transactions online.
BTC is the underlying or native token that powers the Bitcoin blockchain on which transactions are carried out. It acts as a medium of exchange used to settle fees and enable peer-to-peer money sending. Simply put, it is a virtual or digital currency that is completely virtual-only occurring online.
BTC is the most valuable digital currency, with a market cap of about $830 billion. One BTC coin currently goes for about $43,770 at the time of writing. The total value (TVL) of BTC deposited in decentralized finance protocol stands at about $154.79 million, affirming strong interest in the flagship digital currency.
The total number of BTC coins that will ever be in circulation is capped at 21 million. Currently, the circulation supply has reached 18,960,693 BTC.
Should I buy Bitcoin today: BTC market sentiment
Bitcoin (BTCUSD) is currently trying to bounce back after a steep pullback from record highs of $68,000 to seven-month lows of $33,135. However, the bounce back appears to have stalled on buyers facing short-term resistance near the $46,000 handle.
Nonetheless, with the Relative Strength Index RSI above the 50 level, BTCUSD is looking increasingly bullish and likely to continue edging higher. A rally followed by a daily close above the $46,000 level should reaffirm the bounce back, paving the way for Bitcoin to register further price gains.
A close above the $46,000 level could open the door for buyers to steer a rally to the $52,000 level seen as the next substantial resistance level. Below the $46,000 handle, BTCUSD could remain range-bound or come under pressure on the upward momentum stalling.
Recent rallies on BTCUSD have occurred on low volume, signaling buyers’ unwillingness to join the fray to steer further price gains. The upside action has mostly been curtailed by the US dollar strengthening across the board, all but putting pressure on BTCUSD.
The lack of strong upward movements on BTCUSD could also be attributed to traders and investors remaining cautious amid the unraveling Russia-Ukraine tension. Concerns over the escalation of tensions between the two neighbors have seen most market participants shun riskier investments such as Bitcoin in favor of safe-haven such as the US dollar and gold.
What is Bitcoin BTC price prediction for a year?
Bitcoin bounce back from the $33,000 handle came on huge volume amid reports of a buildup in institutional investment interest. Ark Investment CEO Cathie Wood reiterating there is more upside potential on Bitcoin triggered a buying spree after a 40% plus pull back.
The coin finding support above the $40,000 continues to fuel the suggestion of further price gains. Consequently, BTC is expected to rally back to its all-time highs near $68,000 before year-end. However, expectations are high that the coin could finish the year at about $57,316.
Nevertheless, ambitious estimates show Bitcoin could hit record highs of $200,000 before year-end.
What is Bitcoin BTC price prediction for 2025?
Expectation is high that BTC could be worth $109,636 by 2025, according to data on Cryptopredictions.com. The site shows BTC could open the year priced at about $95,000 a coin and rally to highs of $109,636 before finishing the year at about $85,292
While Bitcoin can be extremely volatile at times, its entry into the mainstream sector, thanks to growing institutional investors’ interest, will be the main catalyst to drive price action in the future. Regulators coming up with rules to control the sector will also significantly impact the coins’ overall price.
What is Bitcoin BTC price prediction for 2030?
According to mathematical computation at Digitalcoinprice.com, BTC could be worth more than $100,000 by 2030. Many experts believe the coin will start the year at about $203,960 a coin, rally to highs of $214,637 to finish the year at about $207,679 a coin.
The fact that BTC will be more than $200,000 is something interesting considering that it has so far struggled to power through the $70,000 a coin level.
Bitcoin BTC FAQ
Will Bitcoin coins appreciate in a year?
Yes. BTC price will likely appreciate in a year, given the volatile nature of the coin. More institutional investors buying the coin is expected to continue driving its value higher.
How much will Bitcoin be worth in 5 years?
Bitcoin could be worth more than $100,000 in 5 years.
Where do I buy Bitcoin Token?
Bitcoin can be bought in several cryptocurrency exchanges, including Binance Coinbase and Huobi.