Where Could Bitcoin’s Price Land by the End of 2024?

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Cryptodnes2024/11/18 00:55

By:Cryptodnes

This year has been nothing short of amazing for Bitcoin and the cryptocurrency market and investors are wondering where BTC will land at by the end of 2024.

Investment firm ARK Invest anticipates a breakthrough for Bitcoin (BTC) before the close of 2024, with projections suggesting it could climb into six-figure territory.

Analyst David Puell relies on historical trends to forecast a significant rise in Bitcoin’s value , drawing insights from data spanning over a decade.

According to Puell, Bitcoin’s performance in 2024 has already surpassed the average for comparable periods in past years.

Can Bitcoin Thrive Amid a Strengthening Dollar?

He estimates that if this momentum continues through December, Bitcoin could reach a performance multiple between 2.48x and 2.94x, potentially pushing its price range to $104,000–$124,000.

Looking beyond this year, Puell foresees Bitcoin’s upward trend continuing, especially if institutional adoption gains traction and the incoming U.S. administration under President-elect Donald Trump explores adding Bitcoin to federal reserves.

Such moves, Puell suggests, could set the stage for a strong close to 2024 and sustained growth into 2025.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Cryptopolitan•2024/11/24 22:00