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

By Ted Maas

Five Bitcoin predictions for 2024: from US$45,000 to US$250,000

Bitcoin goes hard this weekend and so people are grabbing the crystal ball again. From Tim Draper to JPMorgan, the world's leading experts are taking a shot. This is the Bitcoin price they expect in 2024.

Where will the Bitcoin price go in 2024? The hope: up. The fear: a setback. Everyone in the industry seems to have their own prediction, sometimes more, sometimes less scientifically based. At least the signs for a recovery are good: Bitcoin ETFs from financial heavyweights such as Blackrock are in the starting blocks and the so-called halving will take place next year. History tells us that a halving is always accompanied by a share price increase. From Tim Draper to JPMorgan, we have listed some of the most popular estimates for 2024.

1 - Tim Draper: 250,000 US dollars

Tim Draper remains bullish. The famous venture capitalist gives the most optimistic estimate for 2024: US$250,000. However, he has made this prediction before - in 2018 for exactly the same year. Ouch. Draper discovered crypto in 2013 and has been a pioneer in the industry ever since.

2 - Pantera Capital: $148,000

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

3 - Chartered Bank: 120,000 US dollars

The multinational bank predicts rise of Bitcoin to $120,000. Again, the halving is priced in. In addition: miners' profitability is increasing, which means they have less Bitcoin to sell. The result: less supply, with potentially increasing demand. The bank manages $800 billion worldwide.

4 - Adam Back: 100,000 US dollars

He is one of the main developers of Bitcoin. And one thing is certain: next year, Bitcoin will break the $100,000 mark, according to Adam Back himself. Back even expects this to happen before the halving in April 2024. The rise after the halving? Back is very optimistic about that.

5 -JPMorgan: 45,000 US dollars

One of the world's largest investment banks has set its sights on a more conservative hike: $45,000. The reason: rising gold prices. Bitcoin has historically correlated with the price of the precious metal. However, the halving here is also seen as a positive catalyst. In 2021, a future price of around $150,000 was still assumed.

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