Can Bitcoin reach $100,000 in 2024?
Coming off an impressive 2023, when it rose by more than 150%, Bitcoin (CRYPTO: BTC) is shaping up to have an even better 2024. But will it be able to keep enough momentum to hit the highly anticipated $100,000 mark? Let's cut to the chase: The answer is yes.
A recent report predicts that Bitcoin will reach a new all-time high in 2024. Bitcoin (BTC) is expected to reach a new record of $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report. The cryptocurrency's current price sits at around $43,000.
Investment bank Standard Chartered has forecast that the bitcoin price will reach the $100,000 mark by the end of 2024. Ark's Cathie Wood has gone on the record with a long term 'base case' forecast of around $650,000 and a potential 'bullish scenario' peak price of $1,500,000 at some point in the future.
| Cryptocurrency | Market Cap | Volume |
|---|---|---|
| Bitcoin BTC 👑 | Very High | Very High |
| Ethereum ETH | Very High | Very High |
| Solana SOL | High | High |
| Avalanche AVAX | High | Medium |
| Year | Bitcoin price on January 1 | Investment value as of January 25, 2024 |
|---|---|---|
| 2021 | $29,200 | $118 |
| 2022 | $47,800 | $69 |
| 2023 | $16,630 | $208 |
| 2024 | $42,675 | $94 |
DigitalCoinPrice had a longer-term BTC price prediction that argued bitcoin could trade at an average price of $305,981.72 in 2030. While the algorithmic forecaster did not provide a bitcoin price prediction for 2040 or 2050, it did forecast that the coin could be worth $571,195.49 in 2032.
Bitcoin has plenty of bullish momentum in 2024. The SEC approved the first spot bitcoin ETFs in January 2024. The original crypto is on track for its next halving in April 2024.
We're 'pretty confident' that bitcoin will hit $100,000 in 2024, Nexo co-founder says.
Ark Invest CEO Cathie Wood in August, said that Bitcoin has the potential to surge into the six-figure range and possibly reach $1 million by 2030. In an exclusive interview with Benzinga, Wood reaffirmed her conviction that Bitcoin could achieve the $1 million mark within a timeframe of five to seven years.
Coming off an impressive 2023, when it rose by more than 150%, Bitcoin (CRYPTO: BTC) is shaping up to have an even better 2024.
Which cryptocurrency will reach $10,000?
| AZERO-USD | Aleph Zero | $1.06 |
|---|---|---|
| RNDR-USD | Render Token | $2.67 |
| XRP-USD | Ripple/XRP | $0.45 |
With current APY of 61% and a concept that could redefine Bitcoin mining as we know it, Bitcoin Minetrix ($BTCMTX) might easily be a token that makes investors rich in 2023.
"The most powerful cryptocurrencies in 2025 will be layer ones, such as Cardano, Solana, Polygon, Matic, and Polka Dot." Despite challenges in the US, cryptocurrencies are consistently growing their use cases globally, highlighting the potential for widespread adoption in the future. 0 people tipped the creator.
If we use today's current Bitcoin price of $27,611.73, according to Coingecko, your $500 monthly investment would allow you to purchase approximately 18.1 Bitcoins per year ($500/$27,611.73). Over 10 years, this would mean you would have about 181 Bitcoins (18.1 x 10).
In other words, $1,000 invested in Bitcoin today would be worth $34,557 by 2030, according to Wood. That would be an astronomical return, but early Bitcoin holders have already experienced such gains. Can Bitcoin deliver those kinds of returns again? Let's take a closer look at Wood's bull case for Bitcoin.
We predict that Bitcoin will jump to an average price of $60,000 in 2024, thanks to the Halving event, and settle more in 2025 with an average of $65,000. In 2026, we see Bitcoin trading as high as $90,000 by the end of the year. By 2030, we predict that Bitcoin could reach a high of $160,000.
| Year | Minimum Price | Average Price |
|---|---|---|
| 2031 | $1,060,203.97 | $1,097,990.19 |
| 2032 | $1,630,622.92 | $1,674,542.53 |
| 2033 | $2,256,756.30 | $2,340,483.93 |
| 2040 | $3,440,511.91 | $3,697,965.17 |
Based on our long-term Bitcoin Coin price forecast, we anticipated that prices could reach a new all-time high this year. By 2040, the maximum price of the BTC Coin is projected to be around $5,69,240.60. Our average price forecast for Bitcoin is $5,57,632.74 in 2040.
Notably, Cathie Wood, CEO of Ark Invest, predicted that Bitcoin could reach an astounding $1.48 million by 2030.
Similarly to the prediction for 2040, we've used Bitcoin's 3-year CAGR of about 19% to calculate what the price of Bitcoin would be in 2050 based on those parameters. According to the calculation, Bitcoin's price could increase to $5,411,000 by 2050 and grow by more than +10,980% over the next 27 years.
How much will $1 Bitcoin be worth in 2025?
According to our Bitcoin price prediction, BTC is forecasted to trade within a price range of $ 57,682 and $ 155,285 next year. Bitcoin will increase by 173.34% and reach $ 155,285 if it reaches the higher value target for 2025.
Around April 16-17, 2024, the block reward will be reduced from 6.25 Bitcoin per block to 3.125 Bitcoin per block. Read more.
"$50,000 is a significant milestone for bitcoin after the launch of spot ETFs last month not only failed to elicit a move above this key psychological level but led to a 20% sell-off," said Antoni Trenchev, co-founder of crypto lending platform Nexo.
If you had invested $1,000 into bitcoin five years ago, the investment would have grown by 1,352% and be worth around $14,524 as of Feb. 14. If you had bought $1,000 worth of bitcoin 10 years ago, it would have grown by 7,644% and be worth around $77,443 as of Feb.
If Bitcoin returns to all-time highs, a $100 investment today would be worth $164.41, representing a return of +64.4%. While Bitcoin may never reach the $500,000 or $1 million price targets from Ark Invest, a return to all-time highs could be more likely.
