News - Bitcoin predictions 2024: from $45,000 to $250,000

By Mike Hesp

Bitcoin predictions 2024: from $45,000 to $250,000

Bitcoin (BTC)
Developments
Mining

From Tim Draper to JPMorgan: the experts of this world share their Bitcoin expectations. Here's the Bitcoin price they expect for 2024.

Where will the Bitcoin price go to in 2024? The hope: up. The fear: even lower than before. In the industry, everyone seems to have their own prognosis, sometimes more, sometimes less scientifically based. The signs for a recovery are good: Bitcoin ETFs from financial heavyweights à la Blackrock are in the starting blocks and the Bitcoin halving is expected next year. It often correlates with long-term price appreciation. From Tim Draper to JPMorgan, we've listed some of the most popular estimates for 2024.

1. Tim Draper: $250,000

Tim Draper remains bullish. The famous venture capitalist gives the most optimistic estimate for 2024: US$250,000. However, he has made the prediction before - in 2018, he previously said Bitcoin will reach a price of $250,000 by 2024. Draper discovered crypto in 2013 and has been a champion of the industry ever since.

2. Panther Capital: $150,000

Also bullish: Pantera Capital. The hedge fund estimates that Bitcoin will reach a price of nearly US$150,000 by the end of 2024. The reason: the halving that is coming. That happens every four years and reduces the reward for miners by 50 percent. It will happen again in April 2024. This means there will be fewer new Bitcoins on the market. Historically, the price of bitcoin has always risen after the halving.

3. Chartered Bank: $120,000

De multinational bank predicts rise in Bitcoin exchange rate to 120,000 U.S. dollars. Also priced in here: the halving. In addition, miners' profitability is increasing, so they have less Bitcoin to sell. 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 main developers of Bitcoin. And he knows it for sure: next year, Bitcoin will break the 100,000 US dollar barrier. Back even assumes this will happen before Bitcoin halves in April 2024. Very optimistic!

5. JPMorgan: $45,000

One of the world's largest investment banks has set its sights on a more conservative rise: US$45,000. The reason: rising gold prices. Bitcoin historically correlates with the price of the precious metal. But again, halving is included as a positive catalyst. In 2021, a future price of around $150,000 was still assumed.

Disclaimer: All content in this article is for informational purposes only and does not constitute a recommendation to buy or sell.

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