Skip to main content

TL;DR

  • Bitcoin price predictions for 2024 range from $50k to $3 million, influenced by macroeconomic factors, halving, and potential ETF approvals.
  • Analysts predict possible highs of $150k, $180k, and $220k based on market demand, ETF outcomes, and economic conditions.
  • Short-term expectations suggest a rise to $47k-$50k by early 2024, amidst varying degrees of optimism and analysis methodologies.

btc_bull_cb

It’s fair to say that the crypto community is eager to see what 2024 will bring to the cryptocurrency industry, as it’s a year that could be full of narratives and catalyzers that could make or break several crypto assets, projects, and ecosystems, but most importantly, Bitcoin.

It’s all on track for a significant bull run: global inflation and geopolitical tensions, the halving, and over ten institutions (including BlackRock) waiting for approval for an ETF. With so much hype and interest coming back to Bitcoin, here are the top BTC price predictions for 2024 and beyond.

Bitcoin to $3M

$3M is probably one of the most outrageous BTC price predictions, but is it possible? Luke Broyles, a famous analyst and Bitcoin advocate, thinks so. Broyles suggested that Bitcoin could skyrocket to $3 million if only 10% of the population would adopt it.

Broyles stated that innovative and disrupting technology is inherently valuable and compared BTC to the internet’s early expansion, which started as a niche industry with a low rate of adoption, to become an everyday necessity.

He also labels BTC as the first triple point asset, as it provides users with a store of value, medium of exchange, and unit of account.

What About $150K?

Compared to the prediction above, a six-digit valuation for each Bitcoin unit seems more conservative.

The price prediction at $150k comes from the investment research firm Bernstein. According to the firm’s analyst, Gautam Chhugani, Bitcoin could reach a series of ATH starting in 2024 if the SEC approves one or several spot ETFs. That demand, coupled with the supply reduction following the halving, would boost BTC to over $100k.

The analyst stated that at least 10% of BTC’s circulating supply would go to the ETFs, further boosting the price.

Bitcoin to $180k

The next target for BTC is at $180k, which was predicted by famous crypto influencer Pentoshi who shared their thoughts on the BTC ETF.

The analyst noted that no one is certain of what will happen after the approval of the exchange-traded product, noting how VanEck thought that an ETH futures ETF would drive massive demand. Still, it underperformed with volumes 95% less than expected.

“What we do know is that ETF experts believe there is a 90% chance of approval, and that Bitcoin isn’t going anywhere. It has a fixed supply in a world of infinite printing.”

Bitcoin to $220K

At last, levels of $220k and beyond are only possible through social unrest and societal breakdown, or at least that’s what Max Keiser believes.

Keiser, Chairman of El Salvador-based Bitcoin mining startup Volcano Energy, stated that BlackRock and similar institutions would stop manipulating Bitcoin thanks to a new law that strikes against naked short selling.

 

BTC to 47k and 50k by Early 2024

Naturally, prices

Around 50k is more conservative and natural to think, but it might take a while —and a series of bumps.

Famous analyst CryptoCon recently stated that BTC could reach 47k by either the end of 2023 or early 2024. The analysis is based on the Fibonacci MVRV chart analysis, a metric that compares market capitalization to realized capitalization to identify potential overbought or oversold conditions.

CryptoCon’s conservative short-term outlook aligns with a recent analysis by famous investor Michael van de Poppe, who’s targeting in the coming months.

These, however, are not the only price predictions but the most controversial and popular ones. You can check out other shocking BTC price predictions in our recent video:

 

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).




Source link

admin

Author admin

More posts by admin
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments