#BTC New move
The price of Bitcoin (CRYPTO: BTC) has soared in 2024 thanks to several catalysts including Bitcoin ETFs, more companies acquiring the cryptocurrency and expectations for a more pro-crypto White House administration with Donald Trump winning the 2024 presidential election.
As Bitcoin dips below the $100,000 level, Benzinga readers predict whether new all-time highs will be hit next or a further dip to $85,000.
What Happened: Bitcoin has reached several new all-time highs since the 2024 presidential election in November, passing the $80,000 and $90,000 levels and recently clearing the $100,000 level.
The leading cryptocurrency hit an all-time high of $103,900.47 on Dec. 4 and spent several days above the $100,000 milestone.
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What's Next: Bitcoin is up 123% year-to-date in 2024, which ranks higher than leading stock indexes and many assets. While many would be happy with ending the year up over 100%, the fact that Bitcoin recently passed $100,000 and the move was short-lived could have investors wanting more.
Benzinga recently asked readers what price they thought Bitcoin would end 2024 at. The results were:
Under $90,000: 18%
$90,000 to $100,000: 30%
$100,000 to $120,000: 40%
Over $120,000: 12%
The range of $100,000 to $120,000 won the poll with 40% of the vote. Adding in the 12% of respondents who said Bitcoin would trade over $120,000 at year-end and a majority (52%) of voters see a six-figure price to close out the year.
