Bitcoin Price Prediction at the End of 2024: Compilation of 9 Analysts and Experts’ Opinions
Bitcoin once exceeded US$93,000 recently, but has begun to experience a correction in the past two days. As of this morning (15th), it has fallen back to around US$86,700 and is currently quoted at US$87,762.
As the end of 2024 approaches, where will Bitcoin’s price be at the end of the year? Cointelegraph compiled the opinions and predictions of many analysts.
Lennix Lai: Over $100,000
Lennix Lai, global commercial chief of OKX Exchange, predicts that Bitcoin will exceed $100,000 by the end of the year. He said that he has already seen signals that the cryptocurrency market may enter the next stage of growth.
However, he also reminded that the market has already digested many bullish factors, including the election results and the rise of traditional stock markets, and that the recent gains may be partly due to the short-term investment boom.
He specifically pointed out that there is still great uncertainty in the overall economy, such as government spending cuts, tariff reforms and other factors that may impact the market. He believes that these factors may increase U.S. inflation and slow down the rate of interest rate cuts by the Federal Reserve.
Tony Sycamore: Early to mid-$90,000
IG Markets analyst Tony Sycamore predicts that the price of Bitcoin will fall in the early to mid-$90,000 range by the end of the year.
He also believes that the bullish news after Trump’s election has been priced in (Price In), and some altcoins will begin to catch up with Bitcoin’s rise. For example, the current price of Ethereum ($ETH) is still lower than the high point of the year. 20%, it is expected that there may be an investment trend from Bitcoin to altcoins before the end of the year.
Source: IG Group IG Markets analyst Tony Sycamore predicts that the price of Bitcoin at the end of the year will be early to mid-$90,000.
Josh Gilbert: $100,000
eToro market analyst Josh Gilbert predicts that Bitcoin will hit $100,000 by the end of the year.
He pointed to Trump’s victory, the Federal Reserve’s interest rate cuts, a strong U.S. economy, and record daily inflows into Bitcoin ETFs as key catalysts for the rally.
He said retail investor sentiment has not yet reached the "fanatical" level seen at the peaks of previous bull markets.
However, he also reminded that Bitcoin may "take a breather" in the coming weeks, but the bull trend is still strong and cannot be ignored.
Ki Young Ju: $58,974
Among the 9 analysts and experts, CryptoQuant CEO is the only one who is bearish on the short-term trend of Bitcoin.
Ki Young Ju predicts that Bitcoin will end the year at $58,974. He posted a few days ago that a correction may be imminent due to overheated activity in the Bitcoin derivatives market.
However, even if there may be a correction in the short term, he believes that Bitcoin is entering the price discovery stage and market enthusiasm continues to rise, so he is still optimistic about the long-term trend.
Source: Ki Young Ju/XCryptoQuant CEO predicts Bitcoin’s closing price in 2024 at $58,974
Pav Hundal: $103,000
SwyftX chief analyst Pav Hundal predicts that Bitcoin will reach $103,000 by the end of the year. This is the result of his technical analysis and the Fibonacci extension of the highs and lows of the previous cycle.
Guy Armoni: 100,000 this year, maybe 250,000 next year
Guy Armoni, partner at HDI Fund, believes that Bitcoin has not yet reached the peak of this bull market.
He is optimistic that the world will see increased adoption of cryptocurrency and a more friendly policy environment for crypto assets and companies in the United States. If current trends hold, Bitcoin will not only hit $100,000 this year, but could reach $250,000 by 2025.
Further reading: No need to wait for the dollar to collapse! Bitwise Chief Investment Officer: "These two situations" will send Bitcoin to 400,000
Matti Greenspan: The rise continues
Matti Greenspan, founder of Quantum Economics, said Bitcoin has spent much of this year digesting extremely bullish fundamentals and consolidating.
He predicted continued increases through the end of 2024, but did not provide a specific price forecast. He also disputed the idea that the current bull market could end in a few months, arguing that this time it could last for a long time.
Ben Simpson: $100,000
Collective Shift CEO Ben Simpson said that while Bitcoin may experience a short-term correction, he predicted that Bitcoin would reach $100,000 by the end of the year.
He pointed out that Trump’s election, the U.S. Federal Reserve’s interest rate cuts, the possible restart of quantitative easing policies in the future, and the continued high daily trading volume of Bitcoin ETFs will make more people pay attention to this market.
Tom Wan: $80,000-95,000
Independent analyst Tom Wan predicts that Bitcoin will end the year in a price range of $80,000 to $95,000.
He believes that Bitcoin may first break through to the $95,000-100,000 range before the end of the year, but $100,000 is a very important psychological level and may encounter significant selling pressure near this point.
As for the news, he pointed out that the market is optimistic about the Trump administration’s crypto-friendly policies and the surge in Bitcoin ETF inflows, and is pricing in (Price In).
Overall, most analysts believe that the price of Bitcoin will be around $100,000 or above by the end of the year. Similar to the current betting results of the blockchain prediction market Polymarket, participants believe that the price will rise to $100,000 in 2024. is 62% (floating value).
Although the overall market sentiment is optimistic, most analysts also warn that Bitcoin may experience violent fluctuations and major corrections in the coming months.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
"Bitcoin price prediction by the end of 2024!" Compiling the opinions of 9 major analysts, most of them guessed this point. This article was first published in "Crypto City"
