Bitcoin, the pioneer of cryptocurrency, has undergone a remarkable journey since its inception. Since its beginning, Bitcoin has experienced significant price swings, attracting attention from individual traders, major investors, and the public.
Bitcoin’s price can surge notably due to increased adoption, its limited supply, and the growing interest from institutional investors.
Several experts in the field, both individual and institutional, are bullish on the price of Bitcoin moving into the year 2024.
Cathie Wood CEO Ark Invest ($1M)
First, on the list, we have Cathie Wood, the CEO of ARK Invest, predicting that Bitcoin could reach $650,000 in 2024 and $1 million by 2030. She’s hopeful about a Bitcoin ETF and likes that Bitcoin isn’t controlled by a single entity like FTX.
If her predictions come true, Bitcoin might take over more than half of a huge $25 trillion crypto market, showing how important it could become globally.
Robert Koyosaki ($100K)
Further in the list, we’ve Robert Kiyosaki. You might know him from “Rich Dad, Poor Dad.” He’s saying Bitcoin won’t stop at $100,000, as he sees it potentially surging to $120,000 by 2024.
Eventually, he believes it because of the increasing decline in the U.S. dollar & country’s shift towards digital currency. It’s like he believes that Bitcoin could become even more valuable because of changes in regular money.
Adam Back Computer Scientist ($100K)
Next in the lineup, we’ve Adam Back, a computer scientist and a well-known figure in the Bitcoin community. He believes that Bitcoin might reach $100,000 by March 31, 2024.
His prediction highlights the crucial role of Bitcoin miners and the upcoming Bitcoin halving scheduled for April 2024. As per Adam, these events will highly impact the price of Bitcoin.
Mike Novogratz CEO Galaxy Digital ($500K)
Now, let’s meet Mike Novogratz a prominent Bitcoin advocate and CEO of Galaxy Digital. Back in 2021, he thought Bitcoin would hit $500,000 by 2024. But now, he’s adjusting his expectations. He still thinks Bitcoin will get to $500,000, just not as quickly.
He’s watching closely what some important person, Jerome Powell, says about interest rates. It’s like he’s saying, “Hold on, it might take a bit longer for Bitcoin to reach the top again.”
Tim Draper Billionaire Investor ($250K)
Tim Draper, another Billionaire investor earlier predicted that Bitcoin would reach $250,000 by June 2023. But now, he’s thinking maybe it will take until 2025.
Eventually, the reason behind such a shift is the U.S. government, especially the Securities and Exchange Commission (SEC). They’ve been a bit tough on crypto companies, and that’s slowing things down for Bitcoin. But, despite this, Draper still believes in Bitcoin.
Standard Chartered ($100K)
Standard Chartered, the big investment bank, is throwing in its prediction too. However, they’re saying Bitcoin might hit $50,000 by the end of 2023 and then go up even more to $100,000 by the end of 2024.
This is more than what they said before, showing they’re feeling more positive about Bitcoin’s future. It’s like they’re saying, “Hey, Bitcoin, we see you going up even more!”
Arthur Hayes CEO BitMEX ($70K)
Arthur Hayes, the founder of BitMEX, has his take. He believes Bitcoin could go up to $70,000 by 2024, but that’s just the short-term view. His long-term picture is even more interesting. He’s imagining Bitcoin going all the way up to $1 million.
He’s talking about how there’s only a limited supply of Bitcoin, and that makes people want it. Plus, he’s looking at some big changes happening in the world that could make Bitcoin more valuable.
JP Morgan Investment Bank ($45K)
JP Morgan, the big investment bank, has similar thoughts too. Meanwhile, they’re forecasting that Bitcoin might reach $45,000 in 2024. That’s a bit more than what it’s trading for right now, around $62,000.
Eventually, they think some investors see Bitcoin like they see gold, and also consider the impact of the upcoming Bitcoin halving event scheduled for next April. It’s like they’re saying, “Keep an eye on Bitcoin, it might surprise you.”
Tom Lee Fundstrat CEO ($180K)
Let’s not forget Tom Lee, the CEO of Fundstrat. He’s setting the bar high, saying Bitcoin could go up to $180,000 by its 2024 halving.
This optimistic forecast is grounded in two major factors: the potential launch of a Bitcoin exchange-traded fund (ETF) and the historical influence of previous halving events on Bitcoin’s price.
Pantera Capital ($148K)
Lastly, there’s Pantera Capital, a major player in managing crypto assets. They even believe that Bitcoin could go up to around $148,000 in its next four-year halving cycle which is around April 2024, where the miner rewards are reduced by 50%, influencing the rate at which new Bitcoins enter circulation.
Conclusion
Meanwhile, these experts have different opinions, with estimates ranging from $45K to $1000k. These varied estimates show a positive outlook for Bitcoin, suggesting potential growth and ongoing importance in the financial world despite the market’s ups and downs.
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