Bitcoin Price Predictions for 2024: Experts Forecast $60,000 to $500,000

Bitcoin Price Expectations for 2024

Bitcoin had a significant rally in 2023, with the digital currency up 152% for the year. Despite some challenges, commentators expect the rise to continue.

With high-profile cases behind us, cryptocurrency executives view this as an opportunity to move forward. Fervor is returning to the crypto markets, with industry executives calling it the start of a new bull run. This is mainly predicated on two factors: the bitcoin “halving” and the potential approval of a bitcoin exchange-traded fund (ETF) in the U.S.

Bitcoin Price Predictions

Mark Mobius: $60,000

In 2024, Mark Mobius predicts that Bitcoin could reach $60,000 by the end of the year. Mobius attributes this prediction to the likelihood of a Bitcoin ETF approval, which has heightened interest in the cryptocurrency.

Bit Mining: $75,000

Youwei Yang, chief economist of Bit Mining, believes that Bitcoin could reach a high of $75,000 by 2024. Yang expects the bitcoin ETF approval and the bitcoin halving in May 2024 to constrain the bitcoin supply and attract higher institutional investment.

CoinShares: $80,000

James Butterfill, head of research at CoinShares, expects “significant change” in the digital assets landscape in 2024. He predicts that the potential approval of bitcoin ETFs and central banks cutting interest rates could drive bitcoin prices to $80,000.

Nexo: $100,000

Antoni Trenchev, co-founder of Nexo, believes Bitcoin could hit $100,000 in 2024. Trenchev attributes this to the bitcoin halving and potential approval of multiple bitcoin ETFs.

Standard Chartered: $100,000

Standard Chartered maintains its $100,000 call for bitcoin, driven by the approval of numerous ETFs and the positive impact of the bitcoin halving.

Carol Alexander: $100,000

Carol Alexander, professor of finance at the University of Sussex, predicts bitcoin to trade within the $40,000 to $55,000 range in Q1 2024. After the settlement of charges against Coinbase and Binance by the SEC, Alexander expects ETFs to be approved and Bitcoin’s price to rise to $70,000, eventually exceeding $100,000 by the end of 2024.

Matrixport: $125,000

Matrixport projects that Bitcoin will reach $63,140 by April 2024 and $125,000 by the end of the year. They anticipate a decline in inflation and expect monetary support from the Federal Reserve to drive Bitcoin to new highs.

CoinFund: Up to $500,000

CoinFund has one of the highest price predictions for Bitcoin, ranging from $250,000 to $500,000 in 2024. They believe in the inverse correlation between Bitcoin and the dollar and expect inflows after the launch of the BTC spot ETF and the likely approval of ETH spot ETFs.

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