Analysts covering the cryptocurrency industry, as well as some &#34;crypto&#34; traders, have been increasingly bullish on the Bitcoin price trend in 2024, with price predictions ranging from $60,000 to $500,000.
Some industry executives firmly believe that a new bull market for Bitcoin has already begun, based primarily on two major events: the Bitcoin &#34;halving&#34; and the highly likely approval of a Bitcoin Exchange-Traded Fund (ETF) in the United States.
After a difficult year in 2022, the price of Bitcoin saw a significant rebound in 2023, with the digital currency rising by approximately 152% throughout the year. In the eyes of the bullish forces in the &#34;crypto&#34; community, this unprecedented strong upward trend may continue in 2024.
After reaching an all-time high in 2021, Bitcoin experienced a &#34;hellish&#34; year in 2022, with many highly anticipated crypto projects collapsing, as well as facing liquidity issues and bankruptcies of influential cryptocurrency companies.
At the end of 2022, FTX Exchange, once one of the world's largest cryptocurrency exchanges, filed for bankruptcy, signaling the complete collapse of the influential FTX empire in the entire crypto community. In 2023, its founder, Sam Bankman-Fried, was charged with all seven criminal charges by the U.S. federal prosecutor.
Also in 2023, Zhao Changpeng, the founder and former leader of Binance, pleaded guilty to criminal charges from the United States and resigned as CEO of the company as part of a $4.3 billion settlement agreement with the U.S. Department of Justice.
Now, these two high-profile cases in the cryptocurrency industry have become a thing of the past, and many executives in the crypto industry even see it as a significant opportunity for the industry to rapidly advance and completely separate itself from the misconduct of these two industry figures.
Industry executives insist that the &#34;new bull market&#34; has begun, primarily based on two major events: the Bitcoin &#34;halving&#34; and the potential approval of a Bitcoin spot ETF in the United States.
The &#34;halving,&#34; which occurs every four years, refers to an event coded in the Bitcoin protocol, where the rewards miners receive for mining Bitcoin are halved. This limits the supply of Bitcoin, as the underlying mechanism ensures that the supply of Bitcoin will always be limited to 21 million. In previous price cycles, the halving usually occurred before a significant increase in the Bitcoin price.
At the same time, there is growing excitement that the U.S. Securities and Exchange Commission (SEC), which has long opposed a Bitcoin spot ETF, is about to approve the first-ever spot ETF in the United States. This means that investors can purchase ETF products that track the real-time price of Bitcoin without directly holding the expensive Bitcoin on cryptocurrency exchanges.
The cryptocurrency industry hopes that this move will attract a wider range of investors, especially large institutional investors.
Along with this exciting news, some &#34;most aggressive price predictions&#34; about Bitcoin have also emerged. In this list covering all the most aggressive price predictions, even the originally seemingly unattainable target of $100,000 appears conservative.
Mark Mobius: $60,000
In 2022, veteran cryptocurrency investor Mark Mobius correctly predicted the trend of Bitcoin prices, when the trading price of Bitcoin fluctuated around $28,000. Since then, his predicted price has dropped to as low as $10,000 and has remained consistent throughout 2023. However, with the big rebound wave of Bitcoin in the second half of 2023, this pessimistic expectation did not become a reality.
For the expected Bitcoin price in 2024, Mark Mobius predicts that Bitcoin may reach $60,000 by the end of this year.
Mobius said, &#34;This prediction can be said to have no reason.&#34; &#34;In addition to the possibility of Bitcoin ETF, which has increased people's interest in investing in this cryptocurrency.&#34;
Bit Mining: $75,000
Youwei Yang, Chief Economist of cryptocurrency mining company Bit Mining, believes that by 2024, the price of Bitcoin may reach a historical high of $75,000.
Yang attributes the expected price increase mainly to the approval of Bitcoin ETF, which will increase institutional investors in Bitcoin, and the significant restriction of Bitcoin supply due to the Bitcoin halving event in May 2024.
Yang said in an email, &#34;I expect the trading price of Bitcoin in 2024 to be between $25,000 and $75,000, and in 2025, it will reach $45,000 to $130,000.&#34; &#34;Although high prices are possible, not all investors can profit due to market volatility and human fear and greed tendencies.&#34;
Yang stated that the expected approval of ETF is still the biggest news in the Bitcoin investment community in 2024, although investors should exercise caution in timing, as the collapse of major cryptocurrency companies such as Luna and FTX has left scars, and this year is an election year, making cryptocurrency topics more politically charged.
&#34;The timing of the market is difficult to grasp, but a gradual approach - accumulating in bear markets and taking profits in bull markets - may be a more effective strategy for those who have not accumulated large assets early on.&#34;
CoinShares: $80,000
James Butterfill, Research Director at CoinShares, stated that the prospects for cryptocurrency assets will undergo &#34;significant changes&#34; in 2024, driven by the possible approval of Bitcoin ETF by the US government. &#34;This long-awaited development will expand the investor base of cryptocurrency assets and integrate them more closely with traditional financial markets,&#34; Butterfill said in a media interview.
&#34;Predictive data suggests that a 20% increase in investments (approximately $3 billion) from the current assets managed by asset management institutions could push the price of Bitcoin to $80,000.&#34; At the same time, Butterfill added that the expectation of global central bank interest rate cuts could also &#34;play a decisive role&#34; in driving up the price of Bitcoin.
In addition to the Bitcoin halving, the market will also pay attention to other factors that may further impact the price of Bitcoin. He believes that the factors of the Bitcoin halving may largely be reflected in the price of Bitcoin.
&#34;Therefore, although the halving is a known event, other factors, especially the possibility of significant interest rate cuts, may have a significant impact on the future price of Bitcoin.&#34; Butterfill added.
Nexo: $100,000
Antoni Trenchev, co-founder of the famous Bitcoin bull and cryptocurrency exchange Nexo, believes that Bitcoin could reach the historic milestone of $100,000 in 2024.
In 2022, he repeatedly called for Bitcoin to reach $100,000, but it did not happen. Instead, the price of Bitcoin plummeted that year, and he refrained from making further price predictions for a long time.
However, in a report in December 2023, Trenchev resumed his prediction target of $100,000 in 2024, citing the potential approval of multiple Bitcoin ETFs and the significant event of the Bitcoin halving.
Trenchev stated in the report: &#34;My expectation for 2024 is that the dual push of the Bitcoin halving and the approval of spot ETFs should push Bitcoin to the $100,000 mark and potentially reach further historical highs in 2025.&#34; &#34;The road to $100,000 will be filled with unexpected twists and turns, and Bitcoin may even experience double-digit pullbacks during this period.&#34;
Trenchev added that the biggest drivers of returns will come from digital tokens and &#34;some projects that haven't even appeared on the radar yet.&#34;
Standard Chartered: $100,000
In November 2023, Standard Chartered released a report stating that the $100,000 mark will be strongly driven by the approval of numerous ETFs. The bank also stated that the significant event of the halving will also support the trend of Bitcoin prices. As early as April, Standard Chartered released a report predicting that Bitcoin is expected to reach $100,000 by the end of 2024.
Carol Alexander: $100,000
In 2022, Carol Alexander, a finance professor at the University of Sussex, successfully predicted the future price trend of Bitcoin. She predicted that Bitcoin would fall to $10,000 in 2022. According to CoinDesk data, that year, Bitcoin temporarily fell to around $15,480, a temporary low point.
Alexander predicts that by 2023, Bitcoin will rise to $50,000. In early December, Bitcoin reached an annual high of around $44,700.
During a media interview, Alexander stated that in the first quarter of 2024, the trading price of Bitcoin will range between $40,000 and $55,000 due to &#34;professional traders creating volatility.&#34;
Alexander mentioned that the next phase will depend on when the U.S. Securities and Exchange Commission (SEC) resolves the charges against Coinbase and Binance, which may be an important requirement before Bitcoin ETF approval. The SEC filed lawsuits against Coinbase and Binance in 2023.
Alexander also stated that these issues may be resolved in the second or third quarter, after which Bitcoin spot ETFs are expected to be approved, and the price of Bitcoin will briefly rise to $70,000, reaching a new all-time high.
The subsequent price will depend on the influence of ETF providers such as BlackRock and Fidelity in various aspects, &#34;not only enabling their market makers to create ETFs, but also defending against price manipulation that causes excessive volatility on exchanges.&#34;
In conclusion, Alexander said, &#34;By the end of 2024, the price of Bitcoin is likely to exceed $100,000, provided that market makers like BlackRock and Fidelity have algorithmic trading capabilities to reduce volatility.&#34;
Matrixport: $125,000
Matrixport, a self-proclaimed cryptocurrency financial services company, released a heavyweight report in November, predicting that Bitcoin will reach $63,140 by April 2024 and $125,000 by the end of that year.
&#34;According to our inflation model, we expect relaxed macroeconomic conditions to continue to be a strong driving force for cryptocurrencies. We anticipate that inflation rates will decrease again, which may prompt the Federal Reserve to start an interest rate cut cycle.&#34;
&#34;Combined with geopolitical 'headwinds,' this healthy monetary support policy should push Bitcoin to new highs in 2024.&#34;
Many commentators in the cryptocurrency industry believe that relaxed monetary policies are one of the biggest supports for Bitcoin prices, as Bitcoin is seen as a risk asset. At the same time, investment institutions like Matrixport view Bitcoin as a &#34;safe haven&#34; asset that investors can turn to during geopolitical conflicts, although many people disagree with this theory.
CoinFund: Up to $500,000
CoinFund, a well-known cryptocurrency investment institution, has the highest expectations for Bitcoin prices in 2024.
&#34;Bitcoin has a strong negative correlation with the U.S. dollar and real yields, and both are currently declining,&#34; said Seth Ginns, Managing Partner at CoinFund. &#34;We also expect that the subsequent inflow of funds after the launch of Bitcoin spot ETFs, as well as the increasing excitement for the potential approval of ETH (Ethereum) spot ETF later in 2024, will be significant driving factors.&#34;
Ginns also stated that he believes the cryptocurrency industry is in the process of &#34;regulatory normalization.&#34;
During the interview, Ginns mentioned that in the next bull market cycle, the price of Bitcoin could reach $1 million. However, he expressed his &#34;reasonable expectation&#34; for the price of Bitcoin in 2024 to be between $250,000 and $500,000, emphasizing the potential to reach a high of $500,000.

The price prediction range for Bitcoin in 2024 varies from $60,000 to $500,000, and analysts and traders are optimistic about the trend of Bitcoin. In 2023, the price of Bitcoin rebounded significantly, with a year-on-year increase of about 152%. In 2022, Bitcoin experienced difficulties, with many cryptocurrency projects collapsing and exchanges filing for bankruptcy. In 2023, FTX exchange collapsed, its founder was accused of crimes, and the founder of Binance was accused, pleaded guilty, and resigned. A new round of Bitcoin bull market has begun, mainly based on the events of Bitcoin "halving" and the possible approval of Bitcoin ETF.

The "2024 Bitcoin Radical Predictions List" is out! Bulls roar that $500,000 is not a dream.