Despite any obstacles, Bitcoin (BTC) continues to move towards its new historical maximum (ATH). Financial experts have expressed their opinions on what the price of the main cryptocurrency may be by the end of this year.
Since the beginning of 2024, the cryptocurrency exchange rate has increased by more than 60%, mainly due to the positive sentiment caused by the approval of the BTC-based ETF, the upcoming halving and the expansion of its recognition.
Taking these factors into account, financial analysts agree that bitcoin will continue to grow this year, completing its price range from $100,000 to $250,000.
Andy Bitcoinsense: $100,000
A well-known cryptanalyst known as Andy Bitcoinsense predicts that the bitcoin exchange rate could reach at least $100,000 by the end of 2024. His forecast is based on price dynamics over the past month and historical price trends before and after halving.
"This year we will at least reach the $100,000 level... Successfully breaking the historical high will take us to this level... We see ATH at $69,000, the bear market minimum at $15,500, and 1.618 corresponds exactly to $100,000," the expert notes, referring to the Fibonacci golden ratio.
Matt Hougan: $200,000
Bitwise's chief investment officer, Matt Hougan, is more optimistic, suggesting that bitcoin could rise to $200,000 or higher by the end of 2024 due to "massive supply and demand dynamics."
"I think that in a few months we will have an even bigger wave... A new era of pricing is coming, and I think prices can rise significantly from now on."
Hunter Horsley: $250,000
Hougan's colleague at Bitwise, CEO Hunter Horsley, raises the bid to $250,000. His optimism is fueled by bitcoin's outstanding achievements over 15 years, and he also emphasizes that bitcoin ETFs are a kind of bitcoin IPO.
Bitcoin Price Analysis
Currently, bitcoin is trading at $66,633, showing a slight 0.3% pullback over the past 24 hours, but its growth over the previous seven days remains at 9.1%.
