Merry Christmas đ â
Several experts and market analysts expected BTC to rally well above $100,000 by the end of the year, while others underestimated the potential effect of the ongoing bull season and predicted that the leading cryptocurrency would remain below $100,000. Regardless, BTC hit a new high of $108,200 about a week ago and was trading at $98,000 by press time.
Expertsâ BTC Predictions for 2024
Some crypto executives were off the mark with their predictions, while others narrowly missed the target.
In October 2023, Arthur Hayes, the co-founder of the crypto exchange and derivatives trading platform BitMEX and founder of the family office Maelstrom Fund, forecasted that BTC would end 2024 at around $70,000 based on several economic factors. He also stated that BTC would be worth between $750,000 and $1 million by 2026 as financial assets experience an unprecedented boom.
Hayesâ prediction fell short as BTC has traded above $100,000 over the past few weeks. It remains to be seen if the 2026 forecast will come true, although that would be unlikely because the bear season is expected to kick off that year.
eventually changed his prediction to $105,000 by August 2025. Fortunately, his prediction fell a bit closer to bitcoinâs current price.
Another financial executive is venture capital investor Tim Draper, who predicted that BTC would be worth $250,000 by year-end in April but retracted and changed his prediction to $120,000. BTC has yet to rally past $110,000.
Furthermore, Mike Novogratz, the CEO of the crypto investment firm Galaxy Digital, predicted in 2021 that BTC would surge to $500,000 in 2024. However, in March 2024, the prominent Bitcoin advocate adjusted his year-end forecast to $100,000.
