Bitcoin has embarked on a bullish start in 2024, reaching a high of $45,913.30, its highest price since April 2022. This represents a more than 7% increase in just 24 hours. Investors are increasingly confident, especially with the prospect of the U.S. Securities and Exchange Commission approving a Bitcoin ETF. While traders are optimistic about the ETF’s potential approval, analysts have diverse opinions on its impact. Some believe that even with an ETF, Bitcoin may not immediately rally significantly.
Further enhancing the positive outlook, the Bitcoin price surpassed the $45,800 mark, signaling a robust upward trend influenced by several larger market factors. Market experts anticipate that Bitcoin could potentially regain its lifetime peak of over $69,000 by mid-2024, entering an “acceleration phase” marked by volatility and a sharp rally. This optimism is further bolstered by predictions of Bitcoin reaching $100,000 in 2024, driven by its resilience, the anticipated halving event, and the potential approval of a spot BTC ETF in the U.S.
A standout prediction among experts is that Bitcoin will surpass the $100,000 mark in 2024. The catalysts behind this projection are strategically timed events expected to propel the cryptocurrency to new heights. Long-term projections suggest Bitcoin could trade between $40,000 and $120,000 throughout 2024, with U.S. policy and regulations on cryptocurrency playing a major role in determining its price.
