Bitcoin price forecast 2024: Will the price rise to $280,000? Financial expert Charles Edwards gives an outlook on Bitcoin development.

Bitcoin price forecast 2024: Will the price rise to $280,000? Financial expert Charles Edwards gives an outlook on Bitcoin development.

According to a report by bitcoin-2go.de,

Price analyst Charles Edwards believes it is realistic that the Bitcoin price could rise to more than $280,000 after the halving in April 2024. He bases his assumptions on historical data and growth after previous halvings.

Based on the current price of $43,000, an increase to $280,000 would represent growth of around 550 percent. The analyst argues that the last bull market was hampered by external factors such as the Bitcoin ban in China and the Fed's interest rate policy, and therefore expects a particularly strong bull market in 2024.

The approval of the first Bitcoin Spot ETFs in January 2024 is also viewed as bullish and is seen as a potential driver for additional investments in Bitcoin. Jerome Powell, Fed chief, expects three cuts in US interest rates in 2024, which could encourage additional investments in Bitcoin.

According to Edwards, Bitcoin could reach a value of $300,000 in the coming years, which would represent growth of 800 percent. However, he also warns against unexpected developments that could have a negative impact on the market and in this case sets the realistic price target at $100,000.

It should be noted that analysts' estimates and forecasts are based on various assumptions and depend on various factors. The current state of the financial markets and the regulatory landscape can therefore impact whether and to what extent the Bitcoin price achieves the stated goals.