A $1.1 trillion market cap is larger than all but six companies in the world. It's important to consider the many factors that are driving markets at the time when Bitcoin potentially reaches new highs, as certain forces could outweigh others. Continued demand is the most important factor for Bitcoin to continue to rise. If institutions keep buying Bitcoin, ETFs keep seeing inflows and overall market sentiment remains positive, it is likely that Bitcoin could reach new all-time highs (ATHs). Nevertheless, the SEC made history in 2021 when it approved the first Bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO), to trade on the New York Stock Exchange. Because each Bitcoin futures contract represents 5 BTC, there is inherent leverage in the Bitcoin futures market.
The safe and secure way to invest in crypto
Patrick has over seven years of experience in the crypto space and has previously shared his knowledge with the AML and fraud departments of Australian financial Institutions. “AML laws remain a big battleground and could threaten the bitcoin future industry as compliance could be extremely difficult,” Sciberras says. “There are continued attacks on bitcoin’s environmental impacts, with the White House proposing a tax of up to 30% on bitcoin miners in the U.S.,” Sciberras says.
Cathie Wood’s Bullish Long-Term Price Prediction for Bitcoin
Warren Buffett is arguably the most famous investor of all time, primarily focusing on buying companies that produce strong value. Buffett has been quoted as saying that Bitcoin is “probably rat poison squared” and that he will never hold cryptocurrency. Buffett does not see Bitcoin as providing investors any value and is simply worth something because others are willing to buy it from you.
Scalability Challenges
- He also added that Standard Chartered’s recent upward revision of its BTC price prediction to $120,000 by the end of 2024 underscores the growing confidence in Bitcoin’s potential.
- A main factor to watch is institutional adoption, with companies such as MicroStrategy accumulating Bitcoin and the launch of spot Bitcoin ETFs.
- Sciberras says spot bitcoin ETF approval could be a key factor influencing bitcoin’s price in 2024.
- Four years later, ProShares made history again by launching a Bitcoin ETF based on futures contracts, the first ever crypto exchange-traded fund to gain regulatory approval to trade on a major U.S. market.
- Over a billion people worldwide lack access to electricity, while four billion live in energy poverty.
- The next halving in 2024 will further reduce the block reward from 6.25 BTC to 3.125 BTC, potentially increasing bitcoin's price as the supply of new bitcoin slows down.
Numerous factors, such as institutional adoption, the most recent halving event, regulatory changes and macroeconomic trends, will influence the price of Bitcoin in 2024. Among the myriad predictions on Bitcoin, the bottom line remains that it has experienced several downfalls and has emerged stronger than before each time. Its resilient nature instills a belief in crypto enthusiasts who see value in investing in decentralized currencies. He also added that Standard Chartered’s recent upward revision of its BTC price prediction to $120,000 by the end of 2024 underscores the growing confidence in Bitcoin’s potential. As more investors and institutions turn to Bitcoin as a hedge against inflation, the possibility of it reaching unprecedented heights becomes more conceivable.
Changelly is bullish on Bitcoin for 2025, predicting an average price of $100,260 and a maximum price of nearly $114,049, which is more than double current price. CoinPedia and CoinCodex are also bullish, seeing 2025 Bitcoin price to hit a potential high of $140,449 and $173,819, respectively. On the other hand, Binance's 2025 Bitcoin price prediction sees the coin to trade for around $58,783.12. Cathie Wood is the CEO of Ark Invest, one of the largest technology-focused asset management companies in the world. She believes that Bitcoin is just getting started and that the price could reach a level as high as $1.5 million by 2030. She sees continued halvings, more long-term holders, increased hash rates and more Bitcoin users in general as the main drivers of her prediction.
It is still a distributed ledger, but there is a possibility that several large entities could decide to exert control. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.
