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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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.
What will be the price of Bitcoin in future 2025? ›
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 crypto will boom in 2024? ›
Top 10 Cryptos in 2024
| Coin | Market Capitalization | Current Price |
|---|
| Solana (SOL) | $69 Billion | $154.53 |
| Ripple (XRP) | $28.4 Billion | $0.5131 |
| Dogecoin (DOGE) | $23.8 Billion | $0.1653 |
| Tron (TRX) | $10.1 Billion | $0.1152 |
6 more rows5 hours ago
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?
How much will 1 bitcoin be worth in 2030? ›
Bitcoin (BTC) Price Prediction 2030
According to your price prediction input for Bitcoin, the value of BTC may increase by +5% and reach $ 86,256.26 by 2030.
How much will 1 bitcoin be worth in 2040? ›
By 2040, the maximum price of the BTC Coin is projected to be around $5,69,240.60. Our average price forecast for Bitcoin is $5,57,632.74 in 2040. Conversely, if the market turns bearish, the minimum price level of BTC Coin could fall down to $5,42,838.40 by 2040.
Will Bitcoin reach 100k in 2024? ›
Many experts believe it's only a matter of time before bitcoin sets new all-time highs on its path to $100,000. The next potential catalyst for bitcoin's 2024 performance will be its halving event, expected in mid-April.
Which coin will reach $1 in 2024? ›
Dogecoin ($DOGE)
Spotlight Wire Dogecoin, commonly known by its moniker DOGE, being the world's first meme crypto is the strongest candidate on this list to achieve 1$ valuation. In the 2021 bull market, Dogecoin nearly reached this goal, hitting a high of $0.74376.
How much will Bitcoin be worth in the next 5 years? ›
We predict that Bitcoin will hold an average price of $60,000 in 2024, thanks to the Halving event, and settle more in 2025 with an average of $65,000. In 2026, we see Bitcoin trading as high as $90,000 by the end of the year. By 2030, we predict that Bitcoin could reach a high of $160,000.
Analyzing the Next 1000x Crypto Tokens in 2024
- Dogeverse – Dog-Themed Meme Coin on 6 Leading Networks [Presale Has Raised Nearly $7 Million] ...
- WienerAI – Trending AI-Based Meme Token With Potential For 1000x Growth. ...
- Slothana – $10 million+ Solana Meme Coin Presale Aiming for a $10 Billion Market Capitalization.
A recent report predicts that Bitcoin will reach a new all-time high in 2024. 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.
Which crypto will skyrocket? ›
Which Altcoin To Buy in The Next Crypto Bull Run
- Ethereum (ETH) Market cap: $459.16 billion. ...
- Solana (SOL) Market cap: $58.39 billion. ...
- Cosmos (ATOM-USD) Market cap: $4.85 billion. ...
- Kaspa (KAS-USD) Market cap: $3.48 billion. ...
- Stellar (XLM-USD) Market cap: $3.92 billion.
By 2040, Bitcoin could surpass $1 million and reach a high point of $1.16 million, which would be a +2,275% increase compared to today's prices. Going further, BTC is expected to break the $1.4 million mark by 2050.
Should I invest $10,000 in Bitcoin? ›
This is still a cryptocurrency that could be easily cut in half before it doubles. But if you can afford to stash away that $10,000 for at least a few years, it makes sense to buy some Bitcoin today as the ETF approvals, halving, and other catalysts draw in more investors.
How much is Bitcoin expected to grow in 10 years? ›
Fidelity Predicts: $1B per 1 BTC by 2038 — 2040
It claims the value of Bitcoin will grow steadily to about $1 million per full Bitcoin by 2030. A network like Bitcoin comprises a set of nodes that form connections with one another and follow a protocol, a group of rules.
How much is a Bitcoin worth in 2027? ›
Bitcoin Price Prediction 2027
Bitcoin's value might exceed $80,000, establishing a steady trading range between $83,300 and $84,900 by year-end.
How much will 1 ethereum be worth in 2025? ›
Ethereum (ETH) Price Prediction 2024-2040
| Year | Minimum Price | Maximum Price |
|---|
| 2025 | $5,907.41 | $7,194.28 |
| 2026 | $8,232.18 | $10,283.97 |
| 2027 | $11,892.81 | $14,527.55 |
| 2028 | $18,352.16 | $20,942.91 |
8 more rowsA bold forecast for Bitcoin's future price: $150,000 could be on the horizon in 2025. Bitcoin (BTC 0.49%) is changing hands for approximately $43,100 per coin today. That's 37% below the all-time high of $68,790, recorded in November 2021 -- just before the inflation crisis besieged all sorts of financial markets.
How high will Bitcoin go in the future? ›
No one knows for sure whether bitcoin will rise or fall in value over the coming days, weeks, months or years. However, one way to guess at future price changes is to consider BTC's previous price movements. In January 2014, bitcoin was worth approximately $800. By January 2024, it was worth more than $42,000.
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