Bitcoin’s price surged nearly 30% to reach new all-time highs above $90,000 following Donald Trump’s election victory. Analysts share their expert predictions on how high or low Bitcoin will move by the end of 2024.
Several experts predict Bitcoin will surpass $100,000 by year-end, including Lennix Lai of OKX and Josh Gilbert of eToro. They attribute the recent price spike to bullish catalysts such as Trump’s election results and rising traditional equities markets.
However, some analysts caution that short-term euphoria may be priced in, and macroeconomic uncertainty could impact Bitcoin’s trajectory. Tony Sycamore of IG Markets expects Bitcoin to end 2024 in the “low to mid $90,000” region, citing the impending pro-crypto regulations of a Trump administration as a potential headwind.
Other experts, such as Pav Hundal of SwyftX and Guy Armoni of HDI Fund, predict prices above $100,000, with some even anticipating Bitcoin could reach $250,000 in 2025. Mati Greenspan, founder of Quantum Economics, expects continued outperformance for the asset heading into the end of 2024.
Despite varying predictions, most analysts agree that significant volatility and major corrections are likely for Bitcoin in the coming months. A record $55 billion in open interest on Bitcoin derivatives is a sign of active positions, but could also pose a headwind for short-term gains.
In summary, experts disagree on Bitcoin’s trajectory by year-end, with some predicting prices above $100,000 while others caution against short-term optimism.
Source: https://cointelegraph.com/news/100k-bitcoin-analysts-btc-price-prediction