Bitcoin price forecast 2020 - 2022

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 Forecast Bitcoin Price Range: $24,000 - $30,000 USD per coin (June 2020)

 Based on historical data from January 2009 to June 2020, we have created a bitcoin price prediction model that forecasts the potential range of price fluctuations over the next five years, using technical analysis. Our prediction states that the value of one bitcoin could potentially reach between $24,000 and $30,000 US dollars by June 2021.


 The graph above shows the daily chart for the price of BTC/USD. When looking at the trendlines, we can see how these values compare to their respective moving averages, which are shown below. We can see that the moving average has not yet reached its current peak, implying that if the trend continues then the price may eventually surpass the peak.

 The price of bitcoin has seen steady growth since its inception despite being consistently volatile due to several factors including regulatory uncertainty, market speculation and adoption rates. In 2019, major cryptocurrency exchanges were hacked and millions of dollars worth of digital currency was stolen. Since then many countries have released warnings about cryptocurrencies and issued regulations to prevent banks and payment processors from accepting them.

 Although the majority of people still prefer fiat currencies, bitcoin has established itself as a legitimate alternative with a number of reputable companies now offering services for businesses and individuals alike.

 For example, Coinbase offers a platform where users can easily buy, sell, send and receive bitcoin. Whilst Bitpay provides merchants with the option of paying their suppliers in bitcoin. As of January 2017, Coinbase has processed $700 million in transactions. If we look at the graph above, we can clearly see that the value of bitcoin peaked early in 2013, when it reached around $1200. However, in the last few years bitcoin prices declined and fell as low as $200 in 2018.

 We believe that bitcoin will continue to trade in a downward spiral until the end of the year 2020. At the moment, the value of a bitcoin is currently trading at around $13,800. Assuming that the value stays constant at this level throughout the duration of our forecast, we expect the value of one bitcoin to reach $20,100 by June 2021.

 However, this prediction may change depending on whether or not the price rises or falls in the future.

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