prediction for Bitcoin
Bitcoin has been the subject of various price predictions, with some analysts predicting a bullish trend for the cryptocurrency in 2024 and beyond. According to a senior market analyst at FXTM, the average forecast from analysts puts bitcoin reaching north of $100,000 in 2024, though some warn of history repeating itself. The all-time high is around the corner with the psychological level of $80,000 acting as a possible resistance down the road. Running parallel to these bullish forecasts is speculation on when and by how much bitcoin will fall. Previous price rallies in 2013, 2017, and 2021 saw bitcoin suffer dramatic falls from those peaks, dropping 83%, 84%, and 77%, respectively.
Bernstein expects the price of bitcoin to spike to $90,000 by the end of 2024, with the upcoming bitcoin halving in April having a marginal impact on the price of the world's leading cryptocurrency. The firm expects 2025 to see bitcoin jump all the way to $150,000, based on ongoing positive price momentum for the world's top cryptocurrency after the U.S. Securities and Exchange Commission’s approval in January of several spot bitcoin exchange-traded funds (ETFs).
However, it's important to note that investing in cryptocurrencies carries inherent risks, and it's crucial to do thorough research and only invest what you can afford to lose. Additionally, staying informed about market news and trends can help you make more informed investment decisions.
