Bitcoin to Reach $87K in 2024 and $383K by 2030, Finder Survey Predicts

Bitcoin (BTC) is poised for substantial price increases in the coming years, according to a recent survey by Finder. The survey, conducted in July 2024, gathered insights from 32 crypto industry specialists, predicting that bitcoin could reach $87,169 by the end of 2024 and surge to $383,514 by 2030.

Crypto Specialists Predict Bullish Long-Term Outlook for Bitcoin

In the latest Finder report, the panel of experts shared diverse opinions on BTC’s price trajectory for 2024. While some, like Unocoin Technologies CEO Dr. Sathvik Vishwanath and 8081 Inc’s Ronen Cojocaru, forecasted BTC hitting $120,000 by year’s end, others were more conservative. John Hawkins, a senior lecturer at the University of Canberra, anticipated a drop to $20,000, citing bitcoin’s speculative nature and competition from central bank digital currencies (CBDCs).

Looking further ahead, the panel expects BTC’s value to rise significantly. By 2025, the average prediction is $127,494, with the most optimistic forecast at $200,000. This bullish outlook is driven by factors such as increased institutional adoption, the Bitcoin halving event, and the launch of Bitcoin ETFs. Despite recent volatility, many panelists believe BTC’s fundamentals support long-term growth, viewing it as a digital store of value akin to gold.

Dimitrios Salampasis, a senior lecturer at Swinburne University of Technology, offered a more conservative end-of-year forecast, projecting bitcoin at $62,000. However, Salampasis maintains that bitcoin is still demonstrating strong performance overall.

“Bitcoin seems to be performing well as a store of value,” Salampasis said. “Moreover, the developments around the Bitcoin ETF seem to have some sort of an effect on the overall price of bitcoin. Moreover, there are expectations of further adoption based on technological advancements in the Bitcoin Lightning Network that could boost scalability potentialities.”

Opinions on the best investment strategy for bitcoin also varied. A majority of the panel, 55%, recommended buying BTC at its current price, citing its potential for significant appreciation. Another 32% advised simply holding onto BTC, while only 13% suggested selling. Experts like Nicole DeCicco of Cryptoconsultz and Kimberly Rosales of Chainmyne highlighted institutional interest and the Fear and Greed Index entering “fear” territory as indicators of a buying opportunity.

Despite the optimistic outlook, there are concerns about bitcoin’s ability to dethrone the U.S. dollar as the global reserve currency. Only 16% of the panelists believe BTC could replace the US dollar, with a vast majority deeming it unlikely. Additionally, there is skepticism about BTC establishing a new baseline around $60,000, with only 19% of experts supporting this notion. The majority foresee further price fluctuations before a new floor is established.

What do you think about the latest Finder’s bitcoin forecast report? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn