Bitcoin Price Prediction: BTC Aiming to Rise Above $40,000

Key Takeaways

• The Bitcoin price is facing significant selling pressure, which is causing the price to test the crucial support levels.
• The bulls appear to be accumulating strength and utilizing it at the right time, which may trigger a notable rebound toward the interim highs.
• Despite the trend suggesting a flip, technicals indicate the prevailing bearish trend may continue, which may soon compel the price below the pivotal support.

Bitcoin Overview as of November 27, 2023

Bitcoin Price	$37,137.3
24 Price Change	-1.62%
7D Price Change	-0.22%
Market Cap	$725.77 billion
Circulating Supply	19.55 million
Trading Volume (24-Hour)	$16.96 billion
ATH	$68,789.63
Fear-Greed Index	66 (Greed)
Sentiment	Neutral
Volatility	3.23%
Green Days	17/30(57%)

Bitcoin Technical Analysis

Bullish	58%
Bearish	42%

Source: Tradingview

• The BTC price has approached crucial levels, and a slight move beyond these levels could trigger a fine drop toward the lower target.
• The RSI is bearish, suggesting the BTC price may maintain a continued descending trend to reach the interim support of around $36,800 initially. 
• The bulls are expected to remain somewhat passive at these levels, due to which the price is expected to reach the lower support zone between $35,571 and $35,986 
• After reaching the high liquidity zone with remarkable demand, the token will receive notable buying volume that may further trigger a strong rebound.
• The volume may remain in favor of the bulls to a large extent and may keep up the bullish momentum to regain the lost levels to form new highs.

Read On: Shiba Inu Price Prediction

BTC Price Prediction 2023-2030

Year	Minimum Price / Maximum Price
2023	$43,000 to $46,000
2024	$75,000 to $80,000

Bitcoin Price Prediction November 2023

Bitcoin initiated the month positively, surpassing the $35,000 sideways trend. Surging to a monthly peak near $38,000, specifically at $37,972, this garnered attention from bearish forces. Consequently, a minor pullback is underway, attributed to the accumulation of selling volume.

Anticipated is an escalation in selling pressure in the imminent days, resulting in the price dipping below the $37,000 mark. The bulls may encounter challenges, leading to heightened compression. Despite this, volume and volatility increase is expected as the month concludes. The monthly trade is expected to conclude within the range of $37,900 to $38,500, reflecting dynamic market conditions.

Bitcoin Price Prediction December 2023

The recent resurgence of bullish momentum, initiated in the final days of the previous year, is expected to provide substantial support for continued upward movement. This resurgence sets a robust foundation for the token’s sustained positive trend. Anticipated is a Bitcoin price just above $40,000 by the conclusion of the first half of the month.

The latter part of the month may witness a notably bullish surge, propelling the price to exceed $42,000. Although brief profit-taking attempts by bears are conceivable, they are expected to be of short duration. As the year concludes, the Bitcoin price is projected to trade within the range of $43,500 to $46,000

Bitcoin Price Prediction 2024

• The new year is anticipated to favor the bulls, preventing bears from securing profits and setting a positive tone.
• After the most anticipated Bitcoin halving in April, a swift ascent is expected, overcoming the $50,000 hurdle.
• A minor correction might precede a new yearly high above $55,000 but won’t impede upward momentum.
• The surge is predicted to intensify in the latter half, suggesting the beginning of a strong bull run aiming to form a new ATH. 
• The year-end outlook suggests closing with a new all-time high above $72,000, ranging from $75,000 to $80,000.

Bitcoin Price Prediction 2025

• In early 2025, Bitcoin is positioned in the middle of an ongoing bull run, indicating continued upward momentum.
• The BTC price might approach the bull market highs, ranging between $92,000 and $95,000.
• Before reaching the milestone at $100,000, a retracement is expected due to extreme bullish exhaustion.
• The initial pullback could appear as a minor correction and a modest rebound may follow.
• Bears strengthening over time may signify the onset of a new bear market, leading to a persistent descent and a year-end trading range of $78,000 to $78,500, reflecting a 35% decline from previous highs.

Bitcoin Price Prediction 2026

• In 2026, the persisting bearish trend from late 2025 is anticipated to maintain its negative momentum.
• The first half may witness a substantial drop in Bitcoin’s price, ranging from 30% to 35%, with expected support at $52,000.
• Moving into the latter part of the year, the bearish activity is foreseen to intensify, approaching the lowest points of the ongoing bear market.
• By year-end, Bitcoin’s price is projected to depreciate by over 80%, potentially trading in the range of $42,000 to $45,000.
• This outlook suggests a challenging year for Bitcoin, marked by significant bearish pressures and notable price declines.

Bitcoin Price Prediction 2027

• In early 2027, bulls may regain significant strength, halting the ongoing decline in Bitcoin’s price.
• Following the lowest points of the bear market, a gradual recovery is expected, though lacking significant momentum.
• The price is foreseen to exhibit an upward consolidation pattern, aiming for higher targets.
• As the year advances, there’s an expectation for Bitcoin’s price to reverse and sustain a respectable uptrend.
• By year-end, the price could potentially trade between $62,000 to $65,000, indicating a positive turnaround.

Bitcoin Price Prediction 2028

• The year is poised to start with a robust upward trend for Bitcoin, marked by consistent higher highs and higher lows.
• An anticipated shift in market trends could initiate a gradual recovery phase in the second quarter.
• Progressing into the latter part of the year, the price is expected to gain momentum, sustaining a notable upward trajectory.
• By year-end, Bitcoin’s price might experience an elevation from previous lows, potentially trading between $75,000 and $81,000.
• Overall, a positive outlook suggests Bitcoin’s possible resilience and potential for a significant recovery throughout the year.

Bitcoin Price Prediction 2029

• Following an extended bearish phase of over a year, a substantial price upswing is anticipated for Bitcoin.
• This upward trend is expected to endure throughout the year as the price aims to regain its previous position.
• The ongoing recovery may gradually evolve into a significant ascending trend, possibly transitioning into a full-fledged bull run in the last quarter.
• By the year’s conclusion, Bitcoin’s price is projected to be within the range of $92,000 to $98,000.

Additional Read: Pyth Network Price Prediction

Bitcoin Price Prediction 2030

• The Bitcoin trade in 2030 is poised to commence with a robust uptrend, aiming to reclaim higher price levels.
• This upward trend is expected to persist throughout the year, with consistent higher and lower highs.
• As we progress into the year’s second half, the ongoing upswing may evolve into a full-fledged bull run, achieving new price highs.
• The price might surpass the significant milestone of $100,000, potentially reaching new peaks, estimated at around $115,000.
• By the end of the year, the Bitcoin price is projected to stabilize around $108,000 to $110,000, encountering resistance from the highs.

Bitcoin Halving History

The upcoming Bitcoin halving event, anticipated in the next few months, attracts considerable attention from experts due to its potential impact on price dynamics. This event entails a reduction in miner rewards and a slowing down in the generation of new Bitcoin tokens, leading to increased scarcity.

Past patterns suggest that such scarcity is frequently associated with positive price trends in the crypto space. Participants in the market are actively engaging in conversations and speculations regarding the potential effects of this impending event on the performance of Bitcoin.

Pre-Halving(Genesis)	$0.000501	NA	$0.0601
Bitcoin 1st Halving: November 28, 2012,	$12	$2.32	$964
Bitcoin 2nd Halving: June 09, 2016	$663	$228.99	$2550
Bitcoin 3rd Halving: May 11, 2020	$8740	$7341.66	$58,250.87
Bitcoin 4th Halving: March 2024 (Estimated)	NA	NA	NA

• Bitcoin’s price remained relatively stable post-its inception until the first halving event in 2012.
• After the initial halving, Bitcoin experienced a substantial surge in 2013, exceeding the $1,000 milestone.
• Following this surge, Bitcoin’s price faced a sharp decline but initiated recovery in 2015, leading up to the second halving.
• The second halving event triggered an impressive surge, propelling Bitcoin to almost $20,000 and establishing a historic peak.
• Subsequently, an extended bear market persisted, reaching its lowest point in 2019. Signals of an imminent significant price movement were discernible.
• Post the third halving event, Bitcoin’s price underwent an explosive ascent, reaching an all-time high of nearly $69,000.
• Based on historical trends, speculation arises that the upcoming halving event could drive Bitcoin’s price well beyond $100,000, potentially initiating another substantial bull market.

Know More: Bitcoin Halving History & Outlook for 2024

Will the Bitcoin Price Rise Again in 2023?

After a significant decline in 2022, Bitcoin’s price has been rising since the start of 2023. As we enter the year’s final quarter, there’s an expectation for this upward trend to persist, possibly driving the price to new highs by year-end.

FAQs