VanEck, an asset management firm has released some projections, for the cryptocurrency market in 2024 focusing specifically on Bitcoin BTC -2.05%.
According to their analysis they foresee Bitcoins price hitting a record high on November 9th, 2024. This forecast is based on the observation that previous all time highs for Bitcoin have occurred three years apart. The recent one took place on November 9th, 2021 when Bitcoin reached a value of $68,892.03.
VanEck predicts that the next peak could see Bitcoin surge by over 155% from its price of $43,600 to surpass $69,000.
Their prediction is influenced in part by dynamics and the upcoming U.S. Presidential election. They speculate that if Donald Trump were to be elected as President of the United States it could potentially create a favorable regulatory environment for cryptocurrencies in the country. This shift in the landscape is expected to contribute to Bitcoins value surge.
Furthermore VanEcks report also explores the impact of Bitcoins growth. They suggest that reaching the milestone of $100,000 by December 2024 could have implications.
These projections are a part of VanEcks outlook for the cryptocurrency market in 2024. They reflect their anticipation of developments and milestones, within the space.