What will be the price of bitcoin in 2024
The forecast of Standard Chartered Bank, according to which the price of bitcoin (BTC) could reach $50,000 by the end of this year and $120,000 by the end of 2024, is realistic and plausible, says BitRiver financial analyst Vladislav Antonov. He told bitcoinlinux about this on July 11.
the day before Reuters reported on the corresponding forecast of the financial institution. At the same time, according to information site Coindesk, by 15:46 Moscow time, bitcoin reached the level of $30.4 thousand.
“The rally is expected for the future halving (halving the reward for miners for the mined block. – Ed.), which will take place in 2024, around April. If we turn to historical data and past halvings, after the previous three halvings, the price accelerated and the rally lasted from 52 to 79 weeks. After updating the historical maximum, the price fell by 74-81% for 60 weeks, and then recovered, winning back most of the losses by the new halving,” he explained.
According to the expert, if events – recovery and growth – develop as in previous times, then BTC may well return to $45,000 by the end of summer or mid-autumn.
“After halving in 2024, the block reward will be 3,125 BTC. With such a reward, the price should be at least $100,000. According to calculations, the historical maximum will be updated in January 2024, if there are no new crashes of cryptocurrency exchanges or collapses of stablecoins, ”the analyst clarified.
At the same time, he stressed that the target levels significantly exceed $120,000.
“The success of the buyers will depend on the results of the SEC (Securities and Exchange Commission, securities commission. – Ed.) in relation to the submitted applications for the spot bitcoin ETF by large management companies, the dynamics of the dollar and indices on the S & P500 and NASDAQ, as well as the level of aggressiveness towards regulatory authorities in the United States in relation to crypto exchanges,” Antonov concluded.
On June 23, the price of BTC for the first time since April 15 exceeded $30,000.
In April, experts interviewed by bitcoinlinux suggested that in the event of a decrease in inflation in the United States this year, the bitcoin exchange rate could reach $40-50 thousand.
