Meanwhile, the US markets have closed again so we take a look at the live Bitcoin price and the current prices of the top 25 crypto. Then we look at bullish and bearish signals for the Bitcoin. Finally, we look at the value of your investment today in 2030.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto currencies.
Live Bitcoin price and prices top 25 crypto coins drop
At the time of writing, the live Bitcoin price is quoting EUR 37,850.42 ($42,459.35). This is 3.34% lower than yesterday and also lower than when the US markets closed the day before yesterday.
The prices of the top 25 crypto coins are also undergoing a correction. Apart from the stable coins, with the exception of Cosmos (ATOM), which is up 5.90%, we only see red numbers on the price boards. The biggest loss of the past 24 hours is for Avalanche (AVAX), which loses 5.81%. On the Tradeincrypto.com website you can analyze all live crypto prices 24 hours a day.
With that, we are seeing a correction that some say is the beginning of a longer correction and others say is just a regular correction after the strong price rises of the past few days. We first look at the bullish and bearish signals for Bitcoin.
Bullish and bearish signals for Bitcoin
First, leading analysts see more and more BTC disappearing into the wallets of hodlers. As a result, Bitcoin may be heading for an accumulation phase. This accumulation has been the basis for strong bullish breakouts in the past.
In addition, one can see that the Bitcoin whales are becoming more active. This is another indicator of a bullish market. In the attached chart we see that this activity is measured for the first time in 3 months.
On the other hand, one specific category of investors (namely those who have held the coin for 12 to 18 months now) is actually transferring a lot of BTC to exchanges. This is often a harbinger of selling and thus price decline. Nevertheless, there are scenarios (e.g., when the number of hodlers withdrawing coins from the exchange is greater), that such a move will not affect the price.
So, as you may already see, there is some doubt as to whether the Bitcoin price will turn bullish again immediately or whether we will still see a further correction first. Therefore, we are naturally curious about the price forecast.
Bitcoin short and long term price forecast
Several analysts expect a further correction to come first. This will be between $ 42,000.00 and $ 40,000.00 according to them. The $ 42,000.- is the retest of the correlation with the dollar, as you can see in the chart below.
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$BTC
There is the highly anticipated retest of 42K, to the dollar.
Let’s see if it holds. pic.twitter.com/uuBt83s1SJ
– The Wolf Of All Streets (@scottmelker) March 3, 2022
On-chain metrics show a strong support level at $40,500 next.
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The IOMAP by @intotheblock paints a clear picture for #Bitcoin.
The most significant support for $BTC sits at $40,500 while the most significant resistance sits at $45,000. Breaking support could push #BTC to $37,000 while breaking resistance will send it to $49,000. pic.twitter.com/hhLrOr7pYL
– Ali Martinez (@ali_charts) March 3, 2022
The expectation is that the BTC price will therefore drop slightly in the short term and then accumulate between $40,000.00 and $45,000.00 and, if one can break the resistance at $45,000.00, steam on towards $50,000.00. For the bearish scenario that the BTC would drop below $40,000, if we forget about the uncertainty caused by the situation in Ukraine, there are not many concrete indications.
If your investment horizon is long enough, Bitcoin remains one of the most attractive investments according to many. Bitcoin bull and crypto expert Cathie Wood has worked out several scenarios, with the price of Bitcoin reaching between $400,000.00 and $1,000,000.00 in 2030. Based on this, crypto-expert Chris Katje started doing the math. He wondered what it would pay, according to Wood’s scenarios, if you invested $100 in Bitcoin now and only took the return in 2030.
Based on his calculations, you could then see a return of between $914 and $2,285 for your $100. Of course, that is a nice calculation but mostly wet finger work. After all, the BTC price is volatile and a lot can happen in the meantime, such as regulations, inflation or technical developments. Nevertheless, there will undoubtedly be people who take the gamble. In any case, they are going to face 8 exciting years and, if they follow their investment, will learn a lot about crypto.
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin (BTC). Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly price forecast on Monday morning might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”