How High Could the Bitcoin Price Rise in 2024?

  • The crypto market is in awe of the ongoing rise in Bitcoin prices, anticipating the potential to reach unprecedented levels.
  • Bitcoin gained momentum by trading above $50,000 in February. The last weeks of the first quarter are expected to maintain high levels for the crypto market.
  • Bitcoin is currently trading just below 17% of its all-time high (ATH), which took three weeks to reach and five weeks to surpass when revisited.

As the Bitcoin price continues to strengthen above $59,000, let’s explore predictions from analysts and companies regarding BTC!

What’s Next for Bitcoin Price?

bitcoin-btc

The crypto market is astonished by the ongoing rise in Bitcoin prices, anticipating the potential for the token to reach unprecedented levels. With Bitcoin surpassing $59,000, it reached a market value of $1,159,980,575,537. How much more value can Bitcoin gain this year? Let’s take a look.

One crypto exchange predicts that Bitcoin will target a range of $75,000 to $82,000 this year, suggesting $60,000 as a short-term resistance level. While occasional fluctuations and changing trends may occur, the likelihood of setting a new all-time high by the end of the year is certain.

Bitcoin gained momentum by trading above $50,000 in February. The last weeks of the first quarter are expected to maintain high levels for the crypto market, and Bitcoin could surpass $60,000.

Bitcoin is currently trading just below 17% of its all-time high (ATH), which took three weeks to reach and five weeks to surpass when revisited. In this scenario, if Bitcoin follows the same pattern this year, it could reach $69,000 in March and continue until April.

Due to the halving in April, the market will completely shift to a bullish trend, leading to an upward trend in Bitcoin prices, surpassing $62,000. Afterward, it is anticipated that the price will be unstoppable for several months and close the year at $84,000.

Leading Predictions for Bitcoin Price

Everyone is aware of the popularity of Bitcoin, and many analysts and top traders have predicted Bitcoin prices. One such analysis comes from the reputable international bank Standard Chartered, foreseeing Bitcoin reaching $200,000 by 2025.

A renowned crypto analyst and early Bitcoin proponent, Tuur Demeester, predicts that Bitcoin prices will range between $200,000 and $600,000 by 2026. He attributes this potential surge to government rescue packages and incentives. Demeester had previously made accurate predictions about Bitcoin. In 2019, he wrote on Twitter that Bitcoin would reach $50,000 to $100,000, a prediction that proved correct as Bitcoin reached an all-time high of $69,000 during the 2021 bull run.

Demeester’s prediction is based on factors such as reducing Bitcoin’s supply, ETFs, and Bitcoin halving, which he believes will increase demand in the market.

Conclusion

The Bitcoin price is approaching $60,000, and according to analysts, it could close this gap in a single day. This is the highest value Bitcoin has reached in the last 27 months, moving towards ATH. As Bitcoin continues to rise, indicating a higher value at the end of the year, the expected price is anticipated to be between $80,000 and $84,000. If conditions favor Bitcoin, it could surpass $100,000 by 2026.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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