+ $597.04 (1.56%)
End-of-day quote: 2022-10-17

Score: 3 / 6

Is Bitcoin on the rise?

No, the price of Bitcoin has been decreasing steadily since April 6, 2022, and is currently down by -10.14%. The 200-day moving average is currently -33.63% above the current price. The 100-day moving average is -44.42% above the current price, and the 50-day moving average is -48.59% above the current price.

EMA 200-day line
EMA 100-day line
EMA 50-day line
SMA 200-day line
SMA 100-day line
SMA 50-day line

The Bitcoin Forecast for 2023

We need to look more closely at a forecast for the one-year outlook, as it is more accurate than other predictions.

For Bitcoin prices in the next year, analysts have made various forecasts. The most optimistic prediction is for a 12-month price target of $45.45k, while the most pessimistic outlook is for $34.58k.

The most recent forecasted price target for the next year is $39.36k, which is crucial to note.

This means it's possible to witness a gain of 1.44 percent.

Bitcoin broke through the 25 strength line from above on 2022-09-13 and then changed into a weak trend, which thereby generated sell signals that lasted one month. Late Sep 2022 we see how the relative strength falls from above 25 to below 25. Thus, Bitcoin has been in a sell signal since 2022-09-28.

After Bitcoin beginning of Jul 2022 tested the -2k line, a strong trend has emerged from it, generating buy signals to date. Mid Aug 2022 we see a weak Bitcoin falling below the zero line which should trigger sell signals.

From 09/13/2022 we see a strong Bitcoin above the moving average causing rising prices of Bitcoin. From early Oct 2022 we then see a strong Bitcoin, which then triggers a buy signal.

From 09/12/2022 to 09/13/2022 Bitcoin was so overbought that this led to a reversal trend. Mid Sep 2022 we then see Bitcoin developing more and more weakness, which is a sell signal.

Mid Oct 2022 Bitcoin left the oversold zone to the upside, which led to a short-term positive change in trend. In October we then see weak volatility for Bitcoin for a longer period of time which led to negative signals for Bitcoin.

Bitcoin's Prospects For 2025-2030

The next few years look good for Bitcoin. Three analysts have predicted that by March 2025, Bitcoin will have reached $40.50k. The Bitcoin price is expected to be $41.67k by March 2027, according to the five-year forecast. The long-term forecast for 2030 is $43.50k.