Bitcoin price predictions 2024 and beyond
You might think that Bitcoin prices are going crazy. The all-time high was followed by a “flash crash” this week, although it only lasted three and a half hours. The Bitcoin price quickly stabilized again and settled at a level of around $65,000. If you believe the experts’ current price forecasts, Bitcoin can continue to soar these days and years (until the end of 2024).
Standard Chartered Bank: $150,000
Analysts at British multinational bank Standard Chartered expect Bitcoin to reach a price of $150,000 in 2024. The estimates for 2025 are even more optimistic: It is even believed that a price increase of up to $250,000 is possible if inflows from exchange-traded funds (ETFs) continue to rise. The fact that the Standard Chartered analysts had already incorrectly predicted the $100,000 mark for the digital coin last year and then revised this to $120,000 in the summer of 2024 should not be ignored. In its forecast, the bank refers to the entry of gold ETFs into the market: the price rose as new investors gained access to the market. And although the price of gold rose slowly as investors poured money into the ETFs, Standard Chartered argued that the Bitcoin market “will mature much faster.”
Broker Bernstein: $90,000
The German broker has raised its year-end Bitcoin target from $80,000 to $90,000. Additionally, a reduction in the total combined computing power used for mining and processing transactions is expected. “We expect a 7 percent reduction in hash rate after the halving due to shutdowns, compared to 15 percent before,” the brokers write in the latest research report. A halving of mining rewards takes place every four years. Bernstein expects the next halving to take place in mid-April 2024. Bitcoin miners for stock investors are still declared attractive. The broker cites the reasons for this as the strong ETF inflows, the aggressive expansion of miners’ capacity and the record-breaking dollar income of the last few months.
Experts from the comparison platform “Finder”: $77,000
In February 2024, the American independent comparison platform Finder surveyed a panel of experts consisting of 40 crypto industry specialists about the Bitcoin price forecast. This estimated him to have an average of $77,423 by the end of the year. The majority were also in favor of buying the cryptocurrency at the current price. The long-term Bitcoin forecasts were significantly higher and significantly more optimistic than last year at $122,688 by 2025 and $366,935 by 2030. When asked whether now is the right time to buy, hold or sell Bitcoin, the answer is as follows: said Finder: At 57.5 percent, the majority of crypto specialists believe that now is a good time is to buy Bitcoins. 37.5 percent are in favor of keeping the asset.
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Investment firm Pantera Capital: $148,000
Pantera Capital also expects a new cycle, i.e. a new price pattern for Bitcoin, after the halving in April 2024. In August 2023, the hedge fund and venture capital firm expected Bitcoin to reach the next major record high by July 2025, climbing to around $150,000. In the most recently published Blockchain Letter, the investment firm predicts that the market-leading cryptocurrency will be around $35,000 during the halving event. The Pantera Capital assessment, which predicted the low point of the BTC price for November 2022, certainly came true.
Fundstrat research chief Tom Lee: $150,000
The independent financial research boutique Fundstrat, which specializes in investment topics, expects Bitcoin to be worth $150,000 this year, doubling its current value. Head of research Tom Lee gave three main reasons for this: Bitcoin is “solid money”, incredibly safe and therefore a good risk asset and a great store of value. In technical terms, this means: demand has improved due to the [Spot Bitcoin Exchange-Traded Fund] ETF, supply is shrinking due to the halving and the expected monetary policy is expected to loosen. The factors are supportive for risk assets, which means Bitcoin can hold up well. Lee’s five-year forecast is: $500,000.
Asset Management Incrementum: $178,000
In October 2023, Mark Valek, partner at Incrementum, will be a guest on the podcast “What Bitcoin Brings”. He calculates $178,000 for Bitcoin after the 2024 halving, using only half of the 2021 bull market. “A prerequisite for the bull market is that Bitcoin continues to be fundamentally sound and continues to develop. The statistics indicate that adaptation is progressing,” says Valek.
