The forecasts, for Bitcoins value in 2024. Show optimism with several analysts and experts providing a range of predictions. After Bitcoins rise above the $40,000 threshold towards the end of 2023 the overall market sentiment is notably positive about its potential for growth in the upcoming year.
Stockmoney Lizards, a cryptocurrency analyst believes that 2024 will be a year for Bitcoin introduction of a spot Bitcoin exchange traded fund (ETF) and a period of consolidation before notable advancements in the cryptocurrency industry.. They anticipate catalysts such as the
One noteworthy prediction suggests that Bitcoin could surpass the $100,000 milestone in 2024. This would be influenced by timed events like interest rate cuts, by the Federal Reserve and the Bitcoin halving scheduled for April.
The event of halving, which happens every four years has historically resulted in an increase, in Bitcoin prices due to the reduction in the supply of bitcoins.
According to TradingShot, an expert in the field there is a possibility that Bitcoin could reach $65,000 by August 19 2024. This speculation is fueled by the anticipation of the halving and discussions about ETFs. Michael Saylor, who serves as the Executive Chairman of MicroStrategy sees the approval of spot ETFs in January as a game changer. It would provide investors and institutions with a channel to invest in Bitcoin. This could potentially create a surge in demand for Bitcoin.
Robert Kiyosaki, author of “Rich Dad Poor Dad ” predicts that Bitcoin could hit $120,000 in 2024. He attributes this projection to financial shifts such as the BRICS nations announcing a gold backed cryptocurrency. Kiyosaki believes that this will result in a loss of confidence in the U.S. Dollar and drive investments towards assets like Bitcoin.
Technical analysis also supports expectations for Bitcoins performance in 2024. Some experts suggest that it could reach $100k or even $140k levels with pullbacks seen as opportunities to buy. This positive sentiment is further reinforced by discussions surrounding Blackrocks approval, for an ETF and how resilient Bitcoin has been despite regulatory challenges.