Where will the Bitcoin price go in 2024? The hope: upwards. The fear: even deeper than before. In space, everyone seems to have their own forecast, sometimes more, sometimes less scientifically based. The signs of recovery are good: Bitcoin ETFs from financial heavyweights à la Blackrock are in the starting blocks and the so-called halving is expected next year. It often correlates with long-term price increases. From Tim Draper to JPMorgan, we’ve listed some of the most popular views for 2024.
1. Tim Draper: $250,000
Tim Draper remains bullish. The famous venture capitalist gives the most optimistic estimate for 2024: $250,000. However, he has already made the forecast – in 2018 for exactly this year. Ouch. Draper discovered crypto in 2013 and has been a pioneer in the industry ever since.
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2. Pantera Capital: $150,000
Also bullish: Pantera Capital. The hedge fund estimates that Bitcoin will reach a price of almost $150,000 by the end of 2024. The reason: the halving. It happens every four years and reduces the reward for miners by 50 percent. In April 2024 it will happen again. This means: fewer new Bitcoins are coming onto the market. Historically, the price of Bitcoin always rose after the halving.
3. Chartered Bank: $120,000
The multinational bank predicts Bitcoin will rise to $120,000. Also priced in here: the halving. In addition: The profitability of the miners increases, which means that they have to sell less Bitcoin. The result of both: less supply, with potentially increasing demand. The bank manages $800 billion worldwide.
4. Adam Back: $100,000
He is one of the leading developers of Bitcoin. And sure: next year Bitcoin will break the $100,000 mark. Back even assumes that it will happen before the halving in April 2024. Very optimistic!
5. JPMorgan: $45,000
One of the world’s largest investment banks is eyeing a more conservative rise: $45,000. The reason: rising gold prices. Bitcoin has historically correlated with the price of the precious metal. But here too, the halving is included as a positive catalyst. In 2021, a future price of around 150,000 US dollars was assumed.
Disclaimer: All content presented in this article is for informational purposes only and does not constitute buying or selling recommendations.
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