What’s Next for Bitcoin After $100K? Experts Predict the Future of BTC in 2024
This is a big day for Bitcoin. Finally, the Bitcoin market Passed the $100,000 milestone. The crypto community has been waiting for this moment for a long time. The event naturally sparked huge enthusiasm among cryptocurrency enthusiasts. While the community celebrates this achievement, some are asking a curious question: “What’s next for BTC?”
Bitcoin $100,000 Milestone: An Overview
Q4 2024 is an excellent time for Bitcoin. Since November 5, the BTC market has surged by at least 51.12%. Some of the trends witnessed during this period include the global political landscape, particularly American political landscapeturning in favor of cryptocurrencies, there is growing institutional interest in large-cap cryptocurrencies, especially Bitcoin, Ethereum and Ripple. Yesterday, the BTC market rose as high as 2.91%. As of this writing, Bitcoin price is at $102,676.00, approximately 2.67% above the $100,000 milestone.
Learning from the Bitcoin halving cycle
The current trend looks extremely positive for Bitcoin. Unsurprisingly, investors are currently eager to see how far Bitcoin prices can go during this halving cycle. The simplest and smartest way to solve this problem is to analyze historical cycle return patterns. Unfortunately, the message of this model is less than impressive: “Returns diminish over time.” In the 2013 cycle, returns were around 7,900%; in 2017, they fell to 2,560%; Last cycle, this ratio was only 594%.
Given this pattern, no sensible expert could have predicted that BTC would return more than 200% during this halving cycle.
Bitcoin’s future predictions
It’s no wonder that most experts believe that Bitcoin’s growth will remain in the 100% to 200% range. This means that the most optimistic prediction is that Bitcoin will reach $190,000 – and no further.
Of course, there is no point in predicting unrealistic goals when the pattern clearly explains the situation and leaves no room for confusion.
Do you want to know if the Bitcoin price will reach $120,000 in 2024? Read CoinPedia’s Bitcoin Price Prediction Explore long-term possibilities! Also, please subscribe to us to get the latest cryptocurrency updates!
Possibility of a global reserve asset: Bitcoin’s ray of hope
Still, there is a silver lining. This is exactly the possibility of BTC becoming a global reserve asset. Almost all experts believe that if something like this happens to the Bitcoin market, it will mark the beginning of a period of exponential growth for Bitcoin.
FAQ
Bitcoin’s future value depends on market conditions, but is expected to reach $250,000 to $500,000 by 2030
Bitcoin recently hit an all-time high of $103,403, surpassing the $100,000 mark for the first time.
There are only about 2.3 million BTC left to be mined, and the total supply is capped at 21 million.
