Where will Bitcoin price go in 2024 – what experts forecast?

With the development of the cryptocurrency market, investors’ attention is increasingly turning to the digital coins prospects, Bitcoin especially. We collected opinions of various experts and presented an overview of expectations for the largest cryptocurrency dynamics.

During 2023, Bitcoin experienced an impressive rally, increasing its value by 152%. The main event determining Bitcoin price in 2024 is expected in spring. We are talking about halving, as a result of which new coins production will be halved. Referring to historical data, Altpricer.com experts believe that this could be a favorable moment for the growth of BTC value. After previous halving in May 2020, prices increased by more than 200% by the end of the year.

Skybridge Capital founder Anthony Scaramucci predicts impressive growth for BTC in 2024 and beyond. According to his forecast, the price of Bitcoin will reach at least $170,000 within 18 months after halving in April 2023.

At the beginning of the year, another important event occurred that will contribute to the growth of the main cryptocurrency. The US Securities and Exchange Commission (SEC) has approved 11 applications for Bitcoin ETFs with actual delivery, which is considered to be a step towards making Bitcoin available to a wider investment audience. According to Nicholas Sciberras, senior analyst at Collective Shift, the ETF could direct between $30 billion and $300 billion into Bitcoin.

Ben Weiss, co-founder of cryptocurrency ATM provider CoinFlip, also believes that ETF approvals and the upcoming halving could make 2024 a record year for Bitcoin, pushing its price past six figures.

At the same time, Carol Alexander, professor of finance at the University of Sussex, emphasizes that the price of Bitcoin after ETF approval will depend on the ability of ETF providers (such as Blackrock and Fidelity) to protect market makers from price manipulation on exchanges. “By the end of 2024, the price could exceed $100,000, but only if the algorithms of Blackrock and Fidelity market makers can reduce volatility,” Alexander concluded.

James Butterfill, head of research at CoinShares, also advises paying attention to factors beyond halving, which, in his opinion, is already built into the price of Bitcoin. Butterfill believes that interest rate cuts by central banks could play a decisive role in BTC price movements. Martin Leinweber, digital asset specialist at MarketVector Indexes, believes that Federal Reserve policy and the overall government stance will play a significant role in shaping the cryptocurrency market landscape. He said lower rates would make borrowings more affordable, which could further bolster support for speculative assets like Bitcoin, which tend to increase investors’ risk tolerance.

If we talk about more ambitious forecasts. Seth Ginns, a managing partner at venture fund CoinFund, said Bitcoin could reach $1 million per coin in the next cycle, but voiced more “reasonable expectations” for 2024 of between $250,000 and $500,000.

Cathie Wood, CEO of Ark Invest, predicts that Bitcoin price could reach $1.48 million by 2030. If we take this forecast and do the reverse calculation, we can estimate that by 2025 the price of Bitcoin could reach around $150,000 – $200,000 at a stable and consistent growth rate.

Thus, the market is optimistic about the price of Bitcoin in 2024. However, it is important to remember that various factors, such as regulatory actions and economic uncertainties, can affect these numbers.

Still optimistic, but more realistic forecasts say that Bitcoin will surpass its ATH of nearly $69,000 in 2024 and set a new all-time high. Forecast from ChatGPT – from $60,000 to $90,000 per 1 BTC in 2024.