Many experts give optimistic forecasts for the fate of Bitcoin in 2024. Everyone is waiting for the Bitcoin rate to rise next year. There are factors that indicate that the price of the world’s first cryptocurrency may rise to 100 – 110 thousand dollars.
Standard Chartered Experts' Opinion
Jeff Kendrick, head of digital assets research, believes that the current situation in the cryptocurrency market is contributing to the growth of Bitcoin.
Catalysts for growth
First of all, this is the unstable economic situation in the United States. Bitcoin has confirmed its reliability as an investment instrument. This year alone the rate has increased by more than 150%.
The Fed is completing the process of raising interest rates. And mining is becoming a more profitable activity.
2 main factors that allow us to count on a significant increase in the Bitcoin rate in 2024
Experts believe that in 2024 the rate could reach the level of 100 thousand dollars per coin.
Introduction of Bitcoin ETF in the USA
The issue of input is dealt with by the SEC. Once this decision is approved, traditional investors will be able to get into Bitcoin without additional risks. In particular, they will be able to work with the asset without the need to purchase it on exchanges. In addition, there will be no need to store your assets on these platforms.
Bitcoin halving
This very halving is awaiting the entire cryptocurrency community. Let me remind you that halving is a reduction in rewards for miners. Production will decrease by 2 times. This process was planned by the creator of Bitcoin and written into code. It is held every 210,000 blocks. The next halving will take place in April 2024.
It is worth paying attention to the fact that before the halving, the Bitcoin rate is growing. The price is expected to rise by at least 100%. That is, by April the cost of one coin could reach 50 thousand dollars. By the end of the year, this figure should double. Standard Chartered experts believe that the $100 thousand mark will have to be passed by the end of next year. True, back in the summer of 2023 they claimed that Bitcoin would be able to break through the ceiling of $120 thousand. But by the end of the year they lowered their expectations somewhat.
Thus, experts believe that now is the right time for infusions. By the beginning of May, the contribution to Bitcoin may double. By the way, as the Bitcoin rate rises, other cryptocurrencies also become more expensive.
