How much will Bitcoin be worth in 2024?

After BTC rose above $40,000 at the end of the year, market sentiment for further growth next year has become more optimistic. A sufficient number of catalysts affect this.

This raises the question, how much can Bitcoin grow in 2024?

Many experts have expressed their views on this matter, and in this article we will share their opinions on where exactly the first cryptocurrency is heading.

2024 will be a pivotal year for BTC

In a post on social network X (formerly Twitter), crypto analyst Stockmoney Lizards claims that Bitcoin will show significant growth in 2024, thanks to many catalysts. The first cryptocurrency will increase its popularity due to the approval of a spot Bitcoin ETF and will likely reach a value of $100,000 per Bitcoin.

The analyst sees March as a key month, highlighting a potential rate cut from the Fed. If the three expected declines occur in the new year, it will have a significant impact on the cryptocurrency market, creating conditions for growth.

One of the main catalysts will be Halving BTC, which will halve the rewards for mining the first cryptocurrency. This event occurs approximately once every four years and is expected in April 2024. Historically, after each reward reduction, the price of BTC has doubled.

Bitcoin is poised for a major rally

Michael Saylor, executive chairman of MicroStrategy, has become one of the main supporters of BTC. He expects the first cryptocurrency to grow in 2024.

In his opinion, the approval of Bitcoin ETF by the SEC could be the biggest event on Wall Street in the last 30 years.

He believes that the spot ETF will provide an opportunity for large investors and institutions to invest their funds in Bitcoin. This development will generate significant demand in the market.

The increased demand for the ETF will be followed by a Halving in April, creating additional growth opportunities for the first cryptocurrency.

The analyst suggests that all these factors, together with the deficit, will become the decisive factors for the growth of BTC. It is difficult to give an exact price forecast, but Saylor expects demand to increase two to ten times, due to a decrease in supply and an increase in demand.

“I think we expect 2024 to be a major growth period for this asset class. We just don't know how far the asset will go at this point,” he said.

The death of the US dollar is a boon for BTC

Well-known financial analyst and author of many books on finance, Robert Kiyosaki, made a loud forecast, predicting the growth of the first cryptocurrency to $120,000 in 2024.

According to him, the BRICS countries (Brazil, Russia, India, China and South Africa) are preparing a cryptocurrency backed by gold, which is a significant innovation in the global financial market. This could cause a decrease in confidence in the US dollar, after which trillions of dollars will flow into the United States.

The result of such events will be a sharp increase in inflation, during which Kiyosaki recommends investing in safer assets such as gold and silver. However, his forecast for Bitcoin is $120,000 within the next year.

However, even with such optimistic forecasts from popular analysts, you should study the market yourself and make informed decisions. Cryptocurrency prices can fluctuate significantly and put your assets at risk.