The cryptocurrency market is entering a new cycle in 2024, with attention turning to Bitcoin—the leading cryptocurrency, which is seeing rising expectations due to the halving and institutional support.
2024 Bitcoin Halving
The Bitcoin halving is scheduled for Q2 2024, which will reduce the block reward from 6.25 to 3.125 BTC, tightening supply. Historically, such events have contributed to significant price increases, and analysts expect this halving to have similar or even amplified effects due to ETF-driven demand.
Institutional Demand and ETFs
With the approval of spot Bitcoin ETFs in the U.S., traditional financial institutions now have direct access to Bitcoin. Major players such as BlackRock, Fidelity, and VanEck are driving inflows, creating consistent demand. This is expected to lead to long-term price stability and reduced volatility in the market.
Bitcoin Price Forecasts
Conservative forecasts suggest that Bitcoin's price could reach $80K–$100K by late 2024 driven by halving and global adoption. More aggressive forecasts could exceed $150K if ETF inflows surpass expectations. Long-term predictions indicate the possibility of reaching $500K to $1M over the next decade.
Bitcoin continues to be a central element of the crypto market. Its dynamics influence other altcoins, investor sentiment, and adoption narratives. Tracking Bitcoin's trajectory in 2024 is crucial for all market participants.
