Thinking about investing in the popular cryptocurrency? A recent report predicts that Bitcoin will reach a new all-time high in 2024.
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Bitcoin (BTC) is expected to reach a new record of $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report.
The cryptocurrency's current price sits at around $43,000.
UK fintech firm Finder carried out a study based onexpert price predictions of 40 crypto industry specialists on how Bitcoin is expected to perform through to 2030.
Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000.
On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.
What could give Bitcoin a boost in 2024?
More than half of the experts Finder surveyed expected the price to increase after a so-called "BTC halving event" in April 2024.
A halving event refers to a period every few years when the reward for mining Bitcoin transactions is cut in half. As things stand, those validating Bitcoin transactions currently get 6.25 bitcoins, which could go down to 3.125.
Halving events lead to a lower supply, with fewer Bitcoins made available, thereby leading to higher prices.
Just under half of the 40 panellists surveyed (47%) believe that Bitcoin is going to reach a new all-time high six months after the halving event.
Kadan Stadelmann, CTO of blockchain platform Komodo, said in the report that Bitcoin is probably facing a fair bit of pressure, not only because of the expected halving event but also because "major companies and institutional investors [are] showing growing interest [in Bitcoin, which] is likely to drive demand."
Many experts forecast more buyers on the market following the US Securities and Exchange Commission's recent approval of 11 Bitcoin ETFs (exchange-traded funds), making it easier for individual investors to trade Bitcoin-related investment funds in the US stock exchanges.
The price could be propelled further upward once the US Federal Reserve cuts the historically high benchmark rate, as analysts expect more liquidity to consequently flow into Bitcoin.
However,John Hawkins, senior lecturer at the University of Canberra, believes that cryptocurrency is still little more than a speculative bubble.
"If the new spot Bitcoin ETFs are popular, there could be a temporary price increase. But, in the medium to longer-term, I still regard Bitcoin as a speculative bubble," said Hawkins, adding there were high expectations about similar ETFs entering the market in 2021, but the price crashed later.
What should investors embrace themselves for by 2030?
BTC is expected to potentially climb to $122,688 (€114,310) in 2025 and $366,935 (€341,878) in 2030.
However, the truncated mean, a statistical measure of central tendency, puts the expected price at around $220,708 (€205,636) by 2030.
Overall, the majority (58%) of panellists believe now is the time to buy BTC; 38% advise people to hold while 5% of panellists are in favour of a sale.
Cryptocurrencies are not regulated in the UK and there is no protection offered by the Financial Ombudsman or the Financial Services Compensation Scheme.
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Disclaimer: This information does not constitute financial advice, always do your own research on top to ensure it's right for your specific circ*mstances. Also remember, we are a journalistic website and aim to provide the best guides, tips and advice from experts. If you rely on the information on this page, then you do so entirely at your own risk.
FAQs
Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000. On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.
How high will Bitcoin go in 2024? ›
Coming off an impressive 2023, when it rose by more than 150%, Bitcoin (CRYPTO: BTC) is shaping up to have an even better 2024.
What will be the maximum price of Bitcoin in 2025? ›
Yearly Bitcoin (BTC) Price Prediction
| Year | Minimum Price | Maximum Price |
|---|
| 2025 | $5,624.44 | $7,045.30 |
| 2026 | $7,784.22 | $9,737.03 |
| 2027 | $11,672.83 | $13,523.65 |
| 2028 | $17,164.28 | $20,086.99 |
8 more rows4 hours ago
Top 10 Cryptos in 2024
| Coin | Market Capitalization | Current Price |
|---|
| Tron (TRX) | $10.4 Billion | $0.1192 |
| Polkadot (DOT) | $12 Billion | $8.43 |
| Cosmos (ATOM) | $4.2 Billion | $10.95 |
| Maker (MKR) | $3.6 Billion | $3,945 |
6 more rows6 days ago
If the history of past halvings is any indication, Bitcoin is primed for a rally in late 2024 and 2025, which could see BTC reach a new ATH in the $100,000 range or even higher. If you invest $100 right now, your investment would be worth ~$150 if Bitcoin hits $100k in 2025.
Will Bitcoin rise again in 2024? ›
Bitcoin continues to go from strength to strength in 2024 after a strong 2023 saw it more than double in value. With ETF approval in early 2024, an upcoming Bitcoin Halving, and increasing utility many traders are wondering what comes next for the world's largest cryptocurrency.
Is Bitcoin good to invest in 2024? ›
The crypto market has maintained its bullish momentum in 2024 after Ethereum rallied 85% and bitcoin gained nearly 150% in 2023. Heading into April, bitcoin prices are up another 64.9% year-to-date, while Ethereum prices are up 55.6%.
How much will 1 Bitcoin be worth in 2030? ›
Bitcoin (BTC) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 74,247.91 |
| 2026 | $ 77,960.30 |
| 2027 | $ 81,858.32 |
| 2030 | $ 94,761.23 |
1 more rowDespite what appears to be a generally dismal outlook on the global and U.S. economy, Hayes still expects Bitcoin price to outperform, placing a target estimate in the $750,000 to $1 million range by the end of 2026.
How high will Bitcoin go in 2040? ›
Bitcoin (BTC) Price Prediction 2040
Based on our long-term Bitcoin Coin price forecast, we anticipated that prices could reach a new all-time high this year. By 2040, the maximum price of the BTC Coin is projected to be around $5,69,240.60. Our average price forecast for Bitcoin is $5,57,632.74 in 2040.
A recent report predicts that Bitcoin will reach a new all-time high in 2024. Bitcoin (BTC) is expected to reach a new record of $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report. The cryptocurrency's current price sits at around $43,000.
Which crypto will grow fast in 2024? ›
Top 10 Cryptos in 2024
| Coin | Market Capitalization | Current Price |
|---|
| Ethereum (ETH) | $409 Billion | $3,408 |
| Binance Coin (BNB) | $83.9 Billion | $561.5 |
| Solana (SOL) | $76.9 Billion | $173.48 |
| Ripple (XRP) | $34 Billion | $0.6197 |
6 more rowsMar 22, 2024
Synopsis. Exploring the potential cryptocurrencies like Pikamoon, Dogecoin, Book of Meme, Rosewifhat, and Zilliqa as contenders to hit the $1 milestone. Key factors like utility, viral potential, and clear roadmaps suggest their potential amidst market sentiment and unique tokenomics.
What will $500 in Bitcoin be worth in 5 years? ›
If I invest $500 in Bitcoin at the start of 2022, how much money will I expect in the next 5 years? I see Bitcoin hovering around $90k by the mid of 2022, if not the entire market is collapsed by that time. In 5 years Bitcoin can easily reach $150k-$250k. Coming to the question $500 gives you 0.01BTC as of now.
Will Bitcoin reach $100,000? ›
As bitcoin becomes more and more mainstream and integrated with traditional assets, it isn't inconceivable that it could hit US$100,000 in 2024 – an extraordinary feat for a invention that was worth nothing as recently as 2009.
How much will $1000 in Bitcoin be worth in a year? ›
Bitcoin One Year From Now
That said, Modulus' projections indicate that in one year, Bitcoin may rise to $96,000. “Were that projection to come to fruition, a $1,000 investment today could be worth approximately $1,333 in twelve months, though it could also become $750 if prices fall.
How much Bitcoin will be in 5 years? ›
For instance, Tom Lee, managing partner and head of research at Fundstrat Global Advisors, believes Bitcoin could reach $150,000 before the end of 2024 and $500,000 within five years. Bitcoin is currently worth $70,000, so the implied upside is 114% this year and 614% by 2029.
How high will Ethereum go in 2024? ›
Our most recent Ethereum price forecast indicates that its value will increase by 1.79% and reach $3,573.10 by April 11, 2024. Our technical indicators signal about the Bullish Bullish 91% market sentiment on Ethereum, while the Fear & Greed Index is displaying a score of 80 (Extreme Greed).
Will Bitcoin crash after halving? ›
"When most market participants agree on a certain outcome, the opposite usually occurs. That is why I believe Bitcoin and crypto prices in general will slump around the halving." Several analysts have argued that the supply slowdown is priced in and the market could correct following the event.
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