Wrapped Bitcoin (WBTC) Price Prediction 2023, 2024, 2025-2030
- Bullish WBTC price prediction for 2023 is $30190.68 to $31906.50.
- Wrapped Bitcoin (WBTC) price might reach $32500 soon.
- Bearish WBTC price prediction for 2023 is $27444.39.
In this Wrapped Bitcoin (WBTC) price prediction 2023, 2024-2030, we will analyze the price patterns of WBTC by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS |
INTRODUCTION |
|
WRAPPED BITCOIN (WBTC) PRICE PREDICTION 2023 |
|
| WRAPPED BITCOIN (WBTC) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Wrapped Bitcoin (WBTC) Current Market Status
| Current Price | $29,536.39 | 24 – Hour Price Change | 0.68% Down |
| 24 – Hour Trading Volume | $152,699,511 |
| Market Cap | $4,790,964,627 |
| Circulating Supply | 162,205 WBTC | All – Time High | $67,011.00 (On Nov 16, 2021) |
| All – Time Low | $3,330.12 (On Feb 06, 2019) |
What is Wrapped Bitcoin (WBTC)
| TICKER | WBTC |
| BLOCKCHAIN | Ethereum |
| CATEGORY | ERC-20 token |
| LAUNCHED ON | Januray 2019 |
| UTILITIES | Governance, Fast Transactions, gas fees & rewards |
Wrapped Bitcoin is an ERC20 token representing Bitcoin on the Ethereum blockchain. There is a 1:1 ratio of Bitcoin behind every WBTC. Wrapping Bitcoin can transfer Bitcoin faster on the Ethereum blockchain and opens up the possibility of using BTC on the Ethereum ecosystem.
Wrapped Bitcoin 24H Technicals
(Source: TradingView)
Wrapped Bitcoin (WBTC) Price Prediction 2023
Wrapped Bitcoin (WBTC) ranks 14th on CoinMarketCap in terms of its market capitalization. The overview of the Wrapped Bitcoin price prediction for 2023 is explained below with a daily time frame.
WBTC/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, Wrapped Bitcoin (WBTC) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Wrapped Bitcoin (WBTC) was recorded at $29,536.39. If the pattern trend continues, then the price of WBTC might reach the resistance levels of $30140.81, and $31929.40 If the trend reverses, then the price of WBTC may fall to the support of $28496.77.
Wrapped Bitcoin (WBTC) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Wrapped Bitcoin (WBTC) in 2023.
WBTC/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Wrapped Bitcoin (WBTC) for 2023.
| Resistance Level 1 | $30190.68 |
| Resistance Level 2 | $31906.50 |
| Support Level 1 | $28544.90 |
| Support Level 2 | $27444.39 |
WBTC Resistance & Support Levels
Wrapped Bitcoin (WBTC) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (WBTC) are shown in the chart below.
WBTC/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Wrapped Bitcoin (WBTC) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $29946.2Price = $29809 (50MA> Price) | Bearish/Downtrend |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 55.78 <30 = Oversold 50-70 = Neutral>70 = Overbought | Neutral |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak volume |
Wrapped Bitcoin (WBTC) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Wrapped Bitcoin (WBTC) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
WBTC/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Wrapped Bitcoin (WBTC).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 8.2 | Weak Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 77.66 <50 = Low >50 = High | High volatility |
Comparison of WBTC with BTC, ETH
Let us now compare the price movements of Wrapped Bitcoin (WBTC) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs WBTC Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of WBTC is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of WBTC also increases or decreases respectively.
Wrapped Bitcoin (WBTC) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Wrapped Bitcoin (WBTC) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
| Year | Bullish Price | Bearish Price |
| Wrapped Bitcoin (WBTC) Price Prediction 2024 | $32565 | $27450 |
| Wrapped Bitcoin (WBTC) Price Prediction 2025 | $32574 | $27459 |
| Wrapped Bitcoin (WBTC) Price Prediction 2026 | $32582 | $27464 |
| Wrapped Bitcoin (WBTC) Price Prediction 2027 | $32590 | $27471 |
| Wrapped Bitcoin (WBTC) Price Prediction 2028 | $32605 | $27476 |
| Wrapped Bitcoin (WBTC) Price Prediction 2029 | $32620 | $27483 |
| Wrapped Bitcoin (WBTC) Price Prediction 2030 | $32635 | $27490 |
Conclusion
If Wrapped Bitcoin (WBTC) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Wrapped Bitcoin (WBTC) price prediction for 2023 is $31906.50. Comparatively, if unfavorable sentiment is triggered, the bearish Wrapped Bitcoin (WBTC) price prediction for 2023 is $27444.39.
If the market momentum and investors’ sentiment positively elevates, then Wrapped Bitcoin (WBTC) might hit $32500. Furthermore, with future upgrades and advancements in the Wrapped Bitcoin ecosystem, WBTC might surpass its current all-time high (ATH) of $67,011.00. and mark its new ATH.
FAQ
1. What is Wrapped Bitcoin (WBTC)?
Wrapped Bitcoin (WBTC) is a tokenized version of Bitcoin that runs on the Ethereum blockchain.
2. Where can you purchase Wrapped Bitcoin (WBTC)?
Wrapped Bitcoin (WBTC) has been listed on many crypto exchanges which include Binance, OKX, Deepcoin, Bitrue, and Bybit.
3. Will Wrapped Bitcoin (WBTC) reach a new ATH soon?
With the ongoing developments and upgrades within the Wrapped Bitcoin Platform, WBTC has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Wrapped Bitcoin (WBTC)?
On Nov 16, 2021, Wrapped Bitcoin (WBTC) reached its new all-time high (ATH) of $67,011.00.
5. What is the lowest price of Wrapped Bitcoin (WBTC)?
According to CoinMarketCap, WBTC hit its all-time low (ATL) of $3,330.12, On Feb 06, 2019.
6. Will Wrapped Bitcoin (WBTC) reach $32500?
If Wrapped Bitcoin (WBTC) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $32500 soon.
7. What will be Wrapped Bitcoin (WBTC) price by 2024?
Wrapped Bitcoin (WBTC) price is expected to reach $32565 by 2024.
8. What will be Wrapped Bitcoin (WBTC) price by 2025?
Wrapped Bitcoin (WBTC) price is expected to reach $32574 by 2025.
9. What will be Wrapped Bitcoin (WBTC) price by 2026?
Wrapped Bitcoin (WBTC) price is expected to reach $32582 by 2026.
10. What will be Wrapped Bitcoin (WBTC) price by 2027?
Wrapped Bitcoin (WBTC) price is expected to reach $32590 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/wrapped-bitcoin-price-prediction/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
