Key Insights
- A recent Finder report predicts Bitcoin to average $88,000 in 2024, potentially reaching an all-time high within six months of the halving.
- Expert opinions vary, with some predicting a $200,000 peak while others call it a “speculative bubble.”
- The halving event is expected to boost prices due to reduced supply.
- The Bitcoin ETFs are seen as a positive factor, attracting new buyers and simplifying investment.
- Long-term forecasts are optimistic, with a potential price of $220,708 by 2030 according to the average analyst prediction.
As the years go by, the idea of Bitcoin as a sovereign, worldwide currency continues to capture the hearts of investors, users and enthusiasts alike.
The latest in the long line of milestones to this dream is almost here, and this milestone is known as the “halving”.
Very recently, a report surfaced, shaking the crypto community.
This report is from Finder, a UK fintech firm. And in this report, Finder detailed the findings of their survey of 40 crypto experts, about what they think will be Bitcoin’s price from 2024 until 2030.
Here’s everything they discovered.
Bitcoin’s Projected Growth
According to the experts interviewed in this survey, Bitcoin is on the right track to hit an average price of at least $88,000 (around €82,000) throughout 2024, eventually stabilizing around $77,000 by the end of the year.
Keep in mind that the cryptocurrency currently sits at around $69,000 at the time of writing.
Moreover, these analysts expect Bitcoin to peak at around $87,875 in 2024, with some even speculating that we might see the cryptocurrency climb to as high as $200,000.
Projected Bitcoin lows
In general, the analyst expectations go as low as $35,734 (which might happen theoretically, if we see an insane dip after the halving).
The 2024 Halving Event
The analysts agreed that the pivotal moment amid all of this would be the “BTC halving event” scheduled to happen within a few days.
Historically, these events, which cut the miner rewards per block by half have led to a decrease in supply, which then leads to a spike in price.
Analysts predict how high Bitcoin can go
These experts agree that the halving might do wonders for the price of Bitcoin from here, as the current 6.25 bitcoin block reward gets cut down to 3.125 bitcoins.
Moreover, the report also states that around 47% of the surveyed experts believe that Bitcoin will reach a new all-time high within six months after the halving.
One of these analysts, Kadan Stadelmann, CTO of Komodo, went further to highlight the growing interest from TradFi companies and institutional investors in Bitcoin, as we have seen with the introduction of the spot Bitcoin ETFs at the start of the year.
The ETFs are playing a major role
The Bitcoin ETFs, according to Sadelmann, are set to attract more buyers, due to the way it simplifies Bitcoin investments on US stock exchanges.
Moreover, the report also adds that a potential slash in the Federal Reserve’s interest rates could inject more liquidity into Bitcoin, sending its price flying.
Looking Towards 2030
Some experts, like John Hawkins of the University of Canberra, are concerned despite the positive projections and refer to Bitcoin as a “speculative bubble”.
Hawkins says that the new Bitcoin ETFs’ popularity could cause a brief spike, but that there might be issues with volatility in the long term
The experts say that by 2025, Bitcoin might be able to reach $122,688 (€114,310), with a staggering $366,935 (€341,878) possible by 2030.
Buy or sell?
However, on average, the analysts agree on a safer $220,708 (€205,636) prediction for 2030.
Meanwhile, the majority of experts (around 58%) suggest buying Bitcoin, while 38% recommend holding, and a mere 5% say “sell it all”.
Disclaimer: This article is intended solely for informational purposes and should not be construed as financial advice. Investing in cryptocurrencies involves substantial risk, including the possible loss of your capital. Readers are encouraged to perform their own research and seek guidance from a licensed financial advisor before making any investment decisions. Voice of Crypto does not endorse or promote any specific cryptocurrency, investment product, or trading strategy mentioned in this article.
