Bitcoin (BTC): What price prospects in 2024?

Bitcoin (BTC) left an indelible mark on the crypto industry in 2023 with an exceptional dynamic that saw the flagship cryptocurrency double its valuation since the start of the year. Will it continue this trend in 2024? Let’s explore in this article the factors that could influence its trajectory either way.

The forces that will impact the price of Bitcoin (BTC) in 2024

In recent years, the Bitcoin (BTC) price has followed a particularly upward trajectory. In a context where the most popular cryptocurrency continues to rise in price, the outlook for its valuation is at the forefront of investors’ concerns.

And this is not without legitimacy considering that in November 2021, the BTC price reached a historic peak of $69,000. This was before it underwent a correction from which it now seems to want to recover fully.

Knowing that Bitcoin (BTC) maintains its appeal as a prized asset class, will it continue its upward valuation? We cannot answer this question absolutely. However, certain factors suggest that such a possibility cannot be ruled out.

The first is the institutional adoption of Bitcoin (BTC) which has been growing steadily in recent months. A turn to the flagship cryptocurrency that is expected to intensify with the historic approval of a spot Bitcoin ETF. An economic situation marked by inflation could also play in favor of Bitcoin (BTC) as a deflationary store of value. The same holds true for regulation, provided it is not too stringent to exert a negative pressure on the price of the flagship cryptocurrency.

Bitcoin Price Predictions for 2024 🚀:

1.Tim Draper: $250,000
2.Adam Back: $100,000
3.Tom Lee: $180,000
4.J.P. Morgan: $45,000
5.Arthur Hayes: $1,000,000
6.Robert Kiyosaki: $120,000
7.Cathie Wood: $1.48M (2030)
8.Mike Novogratz: $500,000
9.Pantera Capital: $148,000
10.Standard… pic.twitter.com/E0pleLVoqu

— God of Finance & Fitness (@godoffitness) January 9, 2024

The actual price predictions

It is important to note at the outset that projections vary among analysts, swinging between optimism and realism. Thus, the most optimistic analysts foresee a new historic peak for Bitcoin (BTC) in 2024.

Specifically, they expect the uptrend of the queen of cryptocurrencies to continue, with its price potentially exceeding $100,000 in 2024. The asset is nearly halfway there, currently valued at around $46,000!

Other analysts adopt a more moderate perspective on the Bitcoin (BTC) price in 2024. They believe that the BTC price could stabilize at a level lower or around $50,000 to $60,000. For them, institutional adoption will progress at a snail’s pace, while inflation could slow down, negatively impacting the price of the flagship cryptocurrency. For now, we wait to see how the market will react to the now recognized emergence of a spot Bitcoin ETF.