After reaching a record high in 2021, Bitcoin had a difficult 2022 marked by the collapse of high-profile projects, liquidity problems and bankruptcies.
Bitcoin Had a Massive Rally in 2023 as the Digital Currency Gained Nearly 152% Over the Year
With the enthusiasm returning to the crypto markets, industry executives are predicting the beginning of a new bull run, mainly based on two things:
These are the Bitcoin “halving” and the potential approval of a Bitcoin exchange-traded fund in the US.
With all this excitement, very bold predictions are also made about the price of Bitcoin. Here are some of them:
Mark Mobius: $60,000
Mark Mobius correctly predicted that Bitcoin would fall from trading above $28,000 to $20,000 in 2022. He then made a price call of $10,000 and stuck with it in 2023. However, this did not happen as Bitcoin rose.
Mobius said that for 2024, Bitcoin could reach $60,000 by the end of the year.
Bit Mining: $75,000
Youwei Yang, chief economist at crypto mining firm Bit Mining, believes Bitcoin could reach $75,000 by the end of 2024.
CoinShares: $80,000
CoinShares research director James Butterfill predicted that the Bitcoin price could rise to $80,000 in 2024, saying the environment for digital assets is set for a significant shift in 2024, driven by the potential approval of Bitcoin ETFs in the US.
Nexo: $100,000
Antoni Trenchev, a famous Bitcoin bull and co-founder of Nexo, a cryptocurrency exchange, believes Bitcoin could reach $100,000 in 2024.
Matrixport: $125,000
Matrixport, which describes itself as a crypto financial services firm, predicted in a note published in November that Bitcoin would reach $63,140 by April 2024 and $125,000 by the end of the year.
*This is not investment advice.