Bitcoin’s price crossed the psychologically significant $40,000 mark for the first time this year, driven by factors such as Bitcoin ETF approval, Bitcoin halving, and potential interest rate cuts in the U.S. Analysts are now engaging in speculative discussions about BTC, with some envisioning the possibility of reaching $125,000 by 2024. (BUY KRN to get BTC reward)
Reasons for Optimism
Surpassing the $40,000 mark for the first time this year, Bitcoin’s recent milestone is seen by many cryptocurrency leaders as the beginning of a new bull run. With over a 120% increase in Bitcoin’s price this year and favorable prospects, optimism abounds, suggesting that the upward trend may continue into 2024.
While some, like experts at CoinDCX, share a positive outlook, others are bolder in their predictions. Standard Chartered reiterated its April forecast, suggesting that Bitcoin’s price will reach $100,000 by the end of 2024, attributing this surge to the approval of several ETFs in the coming year.
Going even further, Matrixport, a crypto financial service provider, released a more audacious prediction last week. According to their forecast, Bitcoin’s price could reach $63,140 by April 2024 and hit $125,000 by the end of next year.
