Bitcoin 2024: Experts expect record high of $500,000

Bitcoin 2024: Experts expect record high of $500,000

According to a report by www.finanzen.net,

The majority of experts agree that the year 2024 is likely to be a strong one for the crypto world and Bitcoin in particular. While it is almost certain that Bitcoin will reach new record highs, CoinFund even expects it to rise to half a million US dollars. Crypto experts are optimistic about Bitcoin development and see drivers such as Bitcoin ETFs and the Bitcoin halving. The current price of Bitcoin is around $43,000 and experts predict price increases of up to $500,000 by 2024.

Bitcoin staged a brilliant rally last year. According to experts, the positive trend is likely to continue and various price forecasts are made between $60,000 and $500,000 for 2024. Upcoming events such as the Bitcoin halving and the SEC’s approval of Bitcoin spot ETFs are seen as positive drivers. An expected reduction in interest rates could also encourage the rise in the price of Bitcoin.

Mark Mobius and other experts are cautiously optimistic and predict price increases of up to $60,000. Youwei Yang estimates that Bitcoin could reach $75,000 over the course of the recently started year. James Butterfill, head of research at CoinShares, also mentions the possible approval of Bitcoin spot ETFs and an expected reduction in interest rates as positive influences on the price of Bitcoin.

Well-known Bitcoin bull Antoni Trenchev, London bank Standard Chartered and finance professor Carol Alexander see Bitcoin rising to $100,000 this year. Crypto financial services company Matrixport also expects the price of Bitcoin to rise to $63,140 by April this year and even to $125,000 by the end of the year.

CoinFund is much more optimistic, believing a price of $500,000 this year is possible. They point to Bitcoin's inverse correlation with the US dollar and real returns, as well as expected inflows following the launch of the BTC spot ETF.

The experts agree that Bitcoin is likely to continue to improve this year. However, the actual development remains to be seen. The cryptocurrency could continue to rise due to the drivers mentioned and reach new record highs.