While the crypto market is currently sailing through a wave of uncertainty, we have listed out predictions for Bitcoin’s price from expert individuals and companies, which are quite nailbiting.
Without Further Adieu, let’s see what these experts have to say about bitcoin prices in 2024.
1. Cathie Wood: $1 Million
Yes, you read it right! $1M would be the price for Bitcoin, according to the CEO of Ark Investment, Cathie Wood. However, the current price movement in Bitcoin shows no confidence sign that, in the short term, Bitcoin could reach this milestone.
However, the original statement by Cathie Wood predicted a $1 million Bitcoin price for 2030 by highlighting Bitcoin’s resilience against inflation.
2. Tim Draper: $250,000
One of the biggest Bitcoin believers, Tim Draper, an American venture capital investor and billionaire, envisaged a bright Bitcoin future after the Bitcoin halving event slated for 2024.
Initially, Tim Draper had predicted the Bitcoin would reach $250,000 by June 2023. However, after the U.S. began their anti-crypto campaign, he reiterated the same prediction for 2025.
3. Adam Back: $100,000
While the CEO of blockchain company Blockstream, Adam Back, believes that the cryptocurrency could soar to $100,000 prior to the halving event in 2023.
4. Tom Lee: $180,000
Another prominent figure in the cryptocurrency world, Tom Lee, who is a co-founder of Fundstrat Global Advisors, has set his sights on a bullish prediction for Bitcoin. Lee firmly believes that Bitcoin is on track to reach $180,000 by the end of 2024.
His optimism is tied to a significant event in the cryptocurrency space – the potential approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC).
5. Arthur Hayes: $70,000
Arthur Hayes, the co-founder of BitMEX, has taken a slightly different approach to his prediction. He envisions a scenario where Bitcoin could reach $70,000, just above its previous all-time high of $69,045 that was achieved in November 2021.
Hayes bases his prediction on the possibility of the U.S. Federal Reserve deciding to cut interest rates, as outlined in his recent analysis published on September 12.
6. Robert Kiyosaki: $1 million
This prediction mirrors the assessment offered by Robert Kiyosaki, who, in more recent statements, proposed that Bitcoin could skyrocket to a staggering $1 million in the event of a severe global economic crisis.
7. Mike Novogratz: $500,000
In a contrasting perspective, Mike Novogratz, the CEO of the crypto investment firm Galaxy Digital, expressed strong optimism about Bitcoin’s future in July. Novogratz confidently asserted that Bitcoin was on track to reach $500,000 within the next five years.
He attributed this bullish outlook to Bitcoin’s rapid adoption rate and its unique characteristics, which position it as an effective hedge against inflation.
8. JPMorgan Chase: $45,000
In contrast to some of the more bullish forecasts, JPMorgan Chase, one of the world’s largest investment banking and asset management giants, has offered a more conservative estimate. Their bullish scenario places Bitcoin at $45,000.
This projection is contingent on Bitcoin achieving a status in investors’ portfolios that is comparable to gold in terms of risk capital or volume-adjusted terms.
9. Pantera Capital’s $148,000
Pantera Capital, a leading name in crypto asset management, has shared an optimistic outlook for Bitcoin in 2024. Their analysis, presented in their “Blockchain Letter” published on August 22, suggests that Bitcoin could potentially rise to around $148,000 during its next four-year halving cycle, assuming historical trends hold true.
10. Standard Chartered: $120,000
Standard Chartered, a major international bank based in the United Kingdom, initially predicted a Bitcoin price of $100,000 by the end of 2024. However, they recently revised this forecast upward to $120,000. The bank also offers Bitcoin and crypto custody services in the European Union through its subsidiary, Zodia Custody.
Parting Words
The Bitcoin price predictions for 2024 vary widely, with some experts predicting a new all-time high while others are more conservative. However, the overall consensus is that Bitcoin is bullish in the long term.
It is important to note that these are just predictions, and the actual price of Bitcoin in 2024 will depend on a number of factors, including global economic conditions, regulatory developments, and investor sentiment. However, the fact that so many experts are bullish on Bitcoin is a positive sign for the future of the cryptocurrency.
