Thu, March 28

Wrapped Bitcoin (WBTC) Price Prediction 2023, 2024, 2025-2030

Wrapped Bitcoin (WBTC) Price Prediction 2023, 2024, 2025-2030 Crypto Price Prediction
  • 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) Current Market Status
  • What is Wrapped Bitcoin (WBTC)?
  • Wrapped Bitcoin (WBTC) 24H Technicals
WRAPPED BITCOIN (WBTC) PRICE PREDICTION 2023
  • Wrapped Bitcoin (WBTC) Support and Resistance Levels
  • Wrapped Bitcoin (WBTC) Price Prediction 2023 — RVOL, MA, and RSI
  • Wrapped Bitcoin (WBTC) Price Prediction 2023 — ADX, RVI
  • Comparison of WBTC with BTC, ETH
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)  
WBTC Current Market Status (Source: CoinMarketCap)

What is Wrapped Bitcoin (WBTC)

TICKERWBTC
BLOCKCHAINEthereum
CATEGORYERC-20 token
LAUNCHED ONJanuray 2019
UTILITIESGovernance, 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.

INDICATORPURPOSEREADINGINFERENCE
50-Day Moving Average (50MA)Nature of the current trend by comparing the average price over 50 days50 MA = $29946.2Price = $29809
(50MA> Price)
Bearish/Downtrend
Relative Strength Index (RSI)Magnitude of price change;Analyzing oversold & overbought conditions55.78
<30 = Oversold
50-70 = Neutral>70 = Overbought
Neutral
Relative Volume (RVOL)Asset’s trading volume in relation to its recent average volumesBelow cutoff lineWeak 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).

INDICATORPURPOSEREADINGINFERENCE
Average Directional Index (ADX)Strength of the trend momentum8.2Weak Trend
Relative Volatility Index (RVI)Volatility over a specific period77.66

<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.

Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.