Is It Possible for Bitcoin Price to Reach $500,000 in 2024?

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• The price of Bitcoin could trade anywhere between $60,000 and $500,000 in 2024 if the most optimistic BTC predictions come true.
• Slightly ahead of Mark Mobius’s modest prediction are crypto mining firm Bit Mining and research firm CoinShares.
• As reported by COINOTAG, these funds anticipate Bitcoin’s price reaching at least $150,000 if the SEC approves a spot ETF for cryptocurrencies.

Predictions are being made for the price of Bitcoin in 2024: How high could Bitcoin rise in 2024?

Critical Price Predictions for Bitcoin

The price of Bitcoin could trade anywhere between $60,000 and $500,000 in 2024 if the most optimistic BTC predictions come true. The past year was largely an exciting one for Bitcoin, and investors are becoming increasingly optimistic as they enter 2024.

Factors such as improving macroeconomics, Bitcoin halving, and the upcoming launch of a spot Bitcoin ETF in the U.S. are just some of the factors that could positively impact the price of cryptocurrencies in the new year. This situation means that many investors see a high chance of Bitcoin reaching a six-digit figure for the first time in its history. This is a reflection of bold predictions from leading figures in the crypto and traditional investment firms.

Mark Mobius, the emerging markets fund manager, gained popularity by accurately predicting that Bitcoin would fall below $20,000 when it was trading above $28,000 in 2022. However, the outlook has since turned bullish. Mark Mobius told COINOTAG that BTC could rise to $60,000 by the end of 2024.

Slightly ahead of Mark Mobius’s modest prediction are crypto mining firm Bit Mining and research firm CoinShares. These organizations predict that Bitcoin could reach up to $75,000 and $83,000, respectively, by the end of 2024. Both results would surpass the all-time high record of $69,000 set by Bitcoin in 2021.

Many other companies are also in the six-digit BTC camp in the coming years. For example, crypto lending platform Nexo and analysts at Standard Chartered predict that Bitcoin will trade above $100,000 in 2024.

Fund managers such as Sky Bridge Capital, Fundstrat, and Morgan Creek go a step further. As reported by COINOTAG, these funds anticipate that if the SEC approves a spot ETF for cryptocurrencies, entries would support Bitcoin reaching at least $150,000.

CoinFund’s Massive BTC Forecast

Meanwhile, the most bullish forecast for BTC is no longer Tim Draper’s famous $250,000 outlook. Instead, the venture capital firm CoinFund is leading the way. The fund predicts on COINOTAG that Bitcoin will double its current price within the next twelve months and reach up to $500,000.

While there is no guarantee that these predictions will come true, they generally reflect a bullish outlook for cryptocurrencies as they enter the new year. Bitfinex expects the global crypto market value to surpass the previous record of $3 trillion set in the last bull market in 2021, reaching over $3.2 trillion.