- Bitcoin is predicted to reach $100,000 according to cryptocurrency industry executives.
- The digital currency has already seen a 120% rally this year, and optimism remains high for further growth in 2024.
- Positive developments, such as the potential approval of a bitcoin ETF and the upcoming bitcoin halving, contribute to the industry’s optimism.
Bitcoin on Track to Hit $100K by 2024, with optimism rising as it has already rallied 120% this year, as per CNBC. Recent industry issues seen as resolved, focus now on potential ETF approval and upcoming bitcoin halving.
Bitcoin is on track to hit $100,000 according to executives in the cryptocurrency industry. With a growing number of voices calling for fresh all-time highs for bitcoin in 2024, optimism is high.
The digital currency has already rallied over 120% this year, and many believe the surge will continue into 2024. Despite recent issues in the crypto industry, such as the collapse of coins and projects, executives see these cases as a line being drawn under past problems.
The industry is now focused on positive developments, including the potential approval of a bitcoin exchange-traded fund (ETF). This could attract larger traditional investors who were previously hesitant to enter the crypto market.
Bitcoin On Track To Hit $100K
Another development is the bitcoin halving scheduled for May 2024, which often leads to a new rally. The next halving is expected to occur on April 24, 2024, and the current block height is less than 6 months away from it.
Some experts have made bold predictions, with Standard Chartered projecting bitcoin to hit $100,000 by the end of 2024, and Matrixport projecting prices of $63,140 by April 2024 and $125,000 by the end of next year.
Easing monetary policy and geopolitical crosscurrents are seen as supportive factors for bitcoin. However, the rally’s success may depend on the approval of the ETF, and an outright rejection could have a negative impact.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.