Thinking about investing in the popular cryptocurrency? A recent report predicts that Bitcoin will reach a new all-time high in 2024.
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Bitcoin (BTC) is expected to reach a new record of $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report.
The cryptocurrency's current price sits at around $43,000.
UK fintech firm Finder carried out a study based onexpert price predictions of 40 crypto industry specialists on how Bitcoin is expected to perform through to 2030.
Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000.
On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.
What could give Bitcoin a boost in 2024?
More than half of the experts Finder surveyed expected the price to increase after a so-called "BTC halving event" in April 2024.
A halving event refers to a period every few years when the reward for mining Bitcoin transactions is cut in half. As things stand, those validating Bitcoin transactions currently get 6.25 bitcoins, which could go down to 3.125.
Halving events lead to a lower supply, with fewer Bitcoins made available, thereby leading to higher prices.
Just under half of the 40 panellists surveyed (47%) believe that Bitcoin is going to reach a new all-time high six months after the halving event.
Kadan Stadelmann, CTO of blockchain platform Komodo, said in the report that Bitcoin is probably facing a fair bit of pressure, not only because of the expected halving event but also because "major companies and institutional investors [are] showing growing interest [in Bitcoin, which] is likely to drive demand."
Many experts forecast more buyers on the market following the US Securities and Exchange Commission's recent approval of 11 Bitcoin ETFs (exchange-traded funds), making it easier for individual investors to trade Bitcoin-related investment funds in the US stock exchanges.
The price could be propelled further upward once the US Federal Reserve cuts the historically high benchmark rate, as analysts expect more liquidity to consequently flow into Bitcoin.
However,John Hawkins, senior lecturer at the University of Canberra, believes that cryptocurrency is still little more than a speculative bubble.
"If the new spot Bitcoin ETFs are popular, there could be a temporary price increase. But, in the medium to longer-term, I still regard Bitcoin as a speculative bubble," said Hawkins, adding there were high expectations about similar ETFs entering the market in 2021, but the price crashed later.
What should investors embrace themselves for by 2030?
BTC is expected to potentially climb to $122,688 (€114,310) in 2025 and $366,935 (€341,878) in 2030.
However, the truncated mean, a statistical measure of central tendency, puts the expected price at around $220,708 (€205,636) by 2030.
Overall, the majority (58%) of panellists believe now is the time to buy BTC; 38% advise people to hold while 5% of panellists are in favour of a sale.
Cryptocurrencies are not regulated in the UK and there is no protection offered by the Financial Ombudsman or the Financial Services Compensation Scheme.
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Disclaimer: This information does not constitute financial advice, always do your own research on top to ensure it's right for your specific circ*mstances. Also remember, we are a journalistic website and aim to provide the best guides, tips and advice from experts. If you rely on the information on this page, then you do so entirely at your own risk.
FAQs
Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000. On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.
How high will Bitcoin go in 2024? ›
In December 2023, one Bitcoin was worth roughly $42,000. By March 2024, BTC set a new all-time intraday trading high by breaking through the $69,000 level. The idea that Bitcoin could one day be worth a million dollars per unit, as Sciberras points out, “really shows how far we've come”.
What will be the price of Bitcoin in future 2025? ›
Bitcoin (BTC) Price Prediction 2030
| Year | Price |
|---|
| 2024 | $ 58,999.79 |
| 2025 | $ 61,949.78 |
| 2026 | $ 65,047.27 |
| 2027 | $ 68,299.64 |
1 more rowExploring the potential cryptocurrencies like Pikamoon, Dogecoin, Book of Meme, Rosewifhat, and Zilliqa as contenders to hit the $1 milestone. Key factors like utility, viral potential, and clear roadmaps suggest their potential amidst market sentiment and unique tokenomics.
What is the highest price of Bitcoin in 2024? ›
Bitcoin BTC/USD price history up until May 1, 2024
Bitcoin (BTC) price again reached an all-time high in 2024, as values exceeded over 73,000 USD in March 2024.
What is the Bitcoin reward for 2024? ›
On April 19, 2024, the block reward for bitcoin miners was reduced by half, from 6.25 BTC per mined block to 3.125 BTC per mined block. However, you wouldn't know it from the lack of fanfare.
What is the prediction for Bitcoin cash in 2024? ›
Bitcoin Cash price prediction, BCH's price has pumped by 1.40% in the last 24 hours. Bitcoin Cash's price prediction for the most bearish scenario will value BCH at $385.10 in 2024.
What is the realistic price prediction for Bitcoin? ›
If bitcoin experiences that same rate of appreciation in its average annual returns, it will reach $98,700 in January 2025 and hit $100,000 in February of that same year. Some experts believe bitcoin could increase in value even more quickly.
What is your 2026 price prediction for Bitcoin? ›
Firstly, according to Bitcoin Price Prediction 2026, the BTC price range in 2026 is expected to be between $82,522 and $155,284. Moreover, the average price is projected to be $115,569.
What is a realistic prediction for Bitcoin in 2030? ›
At the recent Bitcoin Investor Day event in New York City, Wood boosted her 2030 Bitcoin price forecast to $3.8 million from an already lofty figure of $1.5 million. Given today's price in the neighborhood of $70,000, that would be an eye-popping gain of about 5,300% within just six years.
Which Crypto Will Explode in 2024?
- Dogeverse (DOGEVERSE) – A multi-chain Doge token expected to boom in 2024.
- WienerAI (WAI) – A prime meme coin contender for explosive growth in 2024.
- Slothana (SLOTH) – A hot Solana meme token raising over $550K in a few hours.
In 2024, BONK is anticipated to maintain its upward trajectory, with analysts predicting an average price of $0.000074 for the token. This bullish outlook is supported by continued interest in meme coins, the growing adoption of Solana-based projects, and broader market dynamics.
What is the safest crypto to invest in? ›
Here are six of the best cryptocurrencies to buy now:
- Bitcoin (BTC)
- Ether (ETH)
- Solana (SOL)
- Avalanche (AVAX)
- Polygon (MATIC)
- Cardano (ADA)
Our most recent Bitcoin price forecast indicates that its value will increase by 14.58% and reach $66,426 by May 03, 2024.
What will happen when Bitcoin halves in 2024? ›
A Bitcoin halving event occurs when the reward for mining Bitcoin transactions is cut in half. Halvings reduce the rate at which new coins are created and thus lower the available amount of new supply. Bitcoin last halved on April 19, 2024, resulting in a block reward of 3.125 BTC.
How much will Bitcoin be worth in 2025? ›
Future Outlook: Bitcoin price predictions for 2024-2030 indicate continued volatility and potential for both bullish and bearish trends, with prices expected to fluctuate between various levels, reaching highs of $125,000 by 2025.
Will Bitcoin go to 100k? ›
Coming off an impressive 2023, when it rose by more than 150%, Bitcoin (CRYPTO: BTC) is shaping up to have an even better 2024.
What will $1000 of Bitcoin be worth in 2030? ›
If Wood is correct and Bitcoin does reach $3.8 million by 2030, an investment of $1,000 would be worth over $60,000. This would result in a compound annual growth rate (CAGR) of over 100%. Read Next: Bitcoin has jumped another 45% already this year – how much would you need to get started today?
Which crypto will explode in 2024? ›
Solana (SOL)
Its ability to support sophisticated decentralised applications (dApps) while maintaining scalability is a significant driver for its potential explosion in 2024. As developers and financial markets look for efficient blockchain solutions, Solana stands at the vanguard of possible bull market trends.
Will Bitcoin reach 1 million? ›
Known for her innovative investment approach, Cathie Wood predicts Bitcoin will surpass $1 million sooner than her previous estimate of 2030.
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