Bitcoin (BTC) Price Prediction: Short, Medium, and Long-Term Forecasts

In this period, many predictions are circulating regarding the price of Bitcoin (BTC). It is necessary, however, to distinguish between short, medium, and long-term forecasts.

Short, medium, and long-term price forecasts for Bitcoin (BTC) are discussed in this article.

In the short term, a seesaw has been observed, beginning with a drop below $61,000 on July 2. This decline brought the price down to $54,000 by Friday. Some suspect further decreases, possibly reaching $51,000 or lower, due to selling pressure from German authorities or Mt. Gox creditors. Others suggest a lateralization at lower levels, starting from the $54,000 reached on Friday.

This scenario follows a period of lateralization between $57,000 and $72,000, which began after a rise from below $57,000 to over $70,000 in late February to early March. This lateralization ended with a peak at new all-time highs above $73,000. Medium-term forecasts suggest that Bitcoin may regain strength after this period of suffering. This hypothesis is based on the observation that major bull runs in Bitcoin's price have typically begun at the end of the halving year or the start of the following year.

After the fourth halving in April, several events could contribute to a bull run in autumn. These include the first Fed rate cut, expected between September and November, which may increase liquidity. Additionally, the US presidential elections in early November could lead to a weaker dollar, benefiting Bitcoin. Historically, Bitcoin's annual highs during bullish years have occurred in autumn, with the great bull run of 2021 starting in October, just before the US presidential elections.

Long-term forecasts are generally positive. If the bull run restarts in the fall, many hypothesize that BTC's price could exceed $100,000 or even $120,000 over the next year, with some predicting it to cross $150,000. It's worth noting that all three major bull runs in the past ($2013, '17, '21) were followed by a strong bear-market. In the very long term, some speculate even higher figures, up to a million dollars. However, it is challenging to predict what will happen after the next bull and bear runs.

There aren't many pessimistic forecasts, and those that exist are mainly concentrated in the short term. Furthermore, they tend not to be very pessimistic, so much so that there are very few that claim that the price of BTC could return to where the last bull run started, namely at the 27,000$ mark.

It is also interesting to note how during the last sessions the price often fell when the American markets were closed, and the Asian ones were open, while it rose again when the American markets reopened, with the Asian markets closed.

What is certain is that the level of interest regarding Bitcoin and cryptocurrencies at this moment is at its lowest since 2022. This low interest means that the buying pressure is low (at times very low), so even a slight increase in selling pressure is enough to bring the price down.

On the other hand, however, the BTC present on the exchanges continue to be few, and this effectively prevents the selling pressure from skyrocketing, at least in the short term.

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