Experts predict Bitcoin's price could reach $100,000 to $250,000 by the end of 2024, driven by factors like ETF approval, halving anticipation, and supply-demand dynamics.

As Bitcoin (BTC) continues its upward momentum towards a potential new all-time high (ATH), leading much of the cryptocurrency market along with it, financial experts have offered their insights into where the price of the flagship decentralized finance (DeFi) might land by the conclusion of this year.

Indeed, since the outset of 2024, the pioneering cryptocurrency has surged by nearly 60%, driven primarily by positive sentiment surrounding the approval of spot Bitcoin exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC), the forthcoming halving, and other factors.

Taking into account this optimism and other bullish indicators, many financial analysts concur that Bitcoin could sustain its price growth throughout the year. Predictions range from a conservative $100,000, representing a 50% increase from its current value, to a more bullish $250,000, signifying a 275% surge.

#1 Andy Bitcoinsensus: $100,000

Specifically, a distinguished crypto analyst known as Andy Bitcoinsensus recently shared his perspective that the Bitcoin price could reach at least $100,000 by the end of 2024, based on recent performance trends and anticipation surrounding the forthcoming halving event within the next six weeks.

As he articulated, citing the Fibonacci golden ratio of 1.618:

“We are at least going to hit $100,000 here potentially this year. (…) The successful breakout of an all-time high will at least hit $100,000. (…) We take a look at the ATH at $69,000, the low of the bear market at $15,500, the 1.618 is sitting exactly at the $100,000.”

#2 Matt Hougan: $200,000

Furthermore, the chief investment officer at crypto asset manager Bitwise, Matt Hougan, believes Bitcoin might surge to $200,000 or beyond by the end of 2024 due to a “massive supply-demand dynamic,” as he indicated in an interview with CNBC on February 29.

According to Hougan:

“I think there’s an even bigger wave coming in a few months as we start to see the major wirehouses turn on. But this has been Bitcoin’s IPO moment. It’s in a new era of price discovery and I think prices could go substantially higher from here.”

#3 Hunter Horsley: $250,000

Finally, Hougan’s colleague at Bitwise, CEO Hunter Horsley, has set his prediction even higher – at $250,000 – arguing that Bitcoin has demonstrated its value over 15 years but “was only accessible to some,” echoing his CIO’s sentiment regarding Bitcoin ETFs marking its IPO moment.

Bitcoin price analysis

At the time of writing, Bitcoin was trading at $66,730, experiencing a slight pullback of 0.24% over the last 24 hours. Nevertheless, it has surged by 12.46% over the previous seven days and has recorded a 54.95% gain on its monthly chart, according to the most recent data available as of March 6.

Taking all factors into consideration, the aforementioned experts’ assessments may prove accurate, and Bitcoin could potentially meet their projections, given the various influences contributing to its upward trajectory. However, conducting thorough research and assessing risks are essential before making investment decisions.

Disclaimer: The content on this site should not be construed as investment advice. Investments carry inherent risks, and investors should exercise caution.