-
The price of bitcoin could reach $100K in 2024 due to low sell-offs, and high ETF demand.
-
Market activities, and in particular political actions such as the Trump Bitcoin Reserve, could drive the spread of Bitcoin, and its value.
-
Institutional Interest in Bitcoin combined with the growth of DeFi has contributed to the advancement of BTC into the next phase and a halving of the cycle to push the price.
Miles Deutscher, a crypto analyst, made a bold statement in a recent podcast: Bitcoin may reach $100,000 by 2024. Deutscher attributes this surge to a confluence factors, including easing market pressures, potential political catalysts, and increasing institutional adoption.
According to a new analysis, the Bitcoin bear-market may be ending. The German selling overhang is no longer in place, which has decreased the negative pressure on Bitcoin’s price. Strong inflows of money into Bitcoin ETFs also indicate growing investor confidence.
Politics also play a role in this scenario. It is speculated that if Donald Trump were to become president again, he would introduce a US Bitcoin Strategic Reserve Plan. This announcement, reported by a similar podcast called Thinking Crypto podcast, may influence Bitcoin’s price and adoption.
The Bitcoin 2024 conference will likely be a major event that will generate more attention for Bitcoin, and possibly drive further investment.
The institutional acceptance of Bitcoin is increasing, as financial companies such as Goldman Sachs enter the market via tokenization. This institutional interest is a clear indication of Bitcoin’s long-term and real value proposition. The anticipation of new Ethereum ETFs is likely to add positive pressure to the cryptocurrency market.
Analysts claim that the average BTC price could increase by 95%, and that in 123 days, the coin will rise to $115,000 compared to $25,000. Deutscher encourages Bitcoin owners to hold on to their coins and not sell them during the expected price surge.
Bitcoin is currently priced at $63,475.80 with a daily volume of $27.303,478,579. Bitcoin has fallen by 1.85% over the past 24 hour, but has risen by 11.15 % in the last seven days, indicating a positive outlook for the market and a hope for further gains.
