Bitcoin (BTC) could reach a new all-time high this year. The flagship cryptocurrency, is once again the subject of bullish predictions, with experts anticipating that it will hit new all-time highs this year. According to the latest Bitcoin Price Predictions Report by Finder, a notable consensus among industry analysts generally points towards a significant surge in BTC’s value before the end of 2024.
The report, which collates the insights of a panel of seasoned crypto experts, suggests that Bitcoin is poised for a substantial rally driven by a combination of factors. These include increasing institutional adoption and macroeconomic trends favoring digital assets.
A panel of crypto and fintech specialists were surveyed for Finder’s Bitcoin Price Predictions Report. This panel predicts Bitcoin will peak at around US$93K before ending the year at $87K.
Key Predictions
The report offers a diverse range of forecasts, reflecting both bullish and bearish sentiments:
- Bitget CEO Gracy Chen: Predicts BTC will peak at $87K and end the year at $82K. She notes, “Since the approval of the BTC ETF, the crypto market has been on the rise, although recent negative news from large entities like the German government selling BTC has caused noticeable risk aversion. Overall, the bull market is likely not over yet. The market outlook post-quantitative easing is still promising.”
- FV Bank CEO Miles Paschini: Projects BTC to peak and end the year at $85K. He emphasizes, “Institutional and government demand will increase over the next 24 months. In the short term, we will see more downward pressure from sell-offs like Germany and Mt. Gox. These short-term profit-taking actions will not impact longer-term fundamentals.”
- Vancouver Island University Professor Ajay Shrestha: Offers a more bearish view, predicting BTC will peak at $75K and drop to $50K by year-end. He believes the recent price dip signals an impending market crash, stating, “Earlier, the market surged quickly after the US approved a Bitcoin ETF. Currently, we’re in a consolidation phase, likely a pause before another rise. When this peak will happen is uncertain, but I think it could be soon, followed by a long bear market.”
- Swinburne University of Technology Senior Lecturer Dimitrios Salampasis: Predicts an EOY value of $62K but maintains a positive outlook on BTC’s performance as a store of value. He notes the potential impact of Bitcoin ETF developments and the Bitcoin Lightning Network on BTC’s price and scalability.
- Trading Verstehen Founder Markus Kraus: Forecasts BTC to end the year at $73K, highlighting the role of technological improvements in enhancing Bitcoin’s scalability and attracting more users and investors. He adds, “by 2025, Bitcoin might experience a significant boost from ongoing institutional interest and the growing acceptance of Bitcoin ETFs. As cryptocurrencies become more integrated into traditional financial systems, Bitcoin will likely be more widely adopted.”
- Rouge International Managing Director Desmond Marshall: Predicts BTC will end 2024 at $74K, suggesting that a potential Trump presidency could boost BTC prices, as Trump is favorable towards digital assets.
- CoinFlip Founder and Chairman Daniel Polotsky: Agrees that Trump’s pro-crypto sentiment could lead to a more bullish market for BTC. Polotsky is among the 16% who believe that BTC will likely replace the USD as the primary reserve currency. He comments, “In the short term, we may have just seen the price of BTC fall at the beginning of July because of billions of dollars of selling pressure from the German government and because Mt. Gox has finally begun creditor repayments. However, the price seems to have rebounded on positive sentiment that Donald Trump, who is likely the current favorite to win the election, is pro-crypto.”
Market Sentiment
The majority (55%) of Finder’s panel believe now is the time to buy BTC, while 32% say it’s time to hold, and 13% recommend selling.
The insights from Finder’s Bitcoin Price Predictions Report provide a compelling narrative of Bitcoin’s potential trajectory. For those invested in the cryptocurrency space, these predictions underline the dynamic and multifaceted factors influencing BTC’s market performance.
You can find the full report here: Finder’s Bitcoin Price Prediction.
