The victory was short-lived for the cryptocurrency, since during this week it suffered an abrupt fall that even led it to momentarily lose $60,000.
After the main cryptocurrency reached a new historical record by exceeding $69,000Today, Bitcoin is experiencing some increases that allow it to stay above the $67,000 level.
The victory was short-lived for the cryptocurrency, since during this week she suffered an abrupt fall that even led her to momentarily lose $60,000. This movement is considered by experts to be completely normal, since it is something that occurs in each cycle.
With every meteoric rise comes an equally dramatic fall, some analysts maintain. However, they point out that the belief that the probability of the bullish ‘rally’ being prolonged is high, since “large and small investors eagerly await the opportunity” to benefit from the next wave of growth of the leading cryptocurrency.
A renowned cryptocurrency guru known as Andy Bitcoinsensus shared his opinion that the price of Bitcoin could reach at least $100,000 by the end of 2024. His analysis justifies this based on how the digital asset has behaved lately, as well as the anticipation of the next BTC halving.
Market projections
Likewise, the chief investment officer of crypto asset manager Bitwise, Matt Hougan, believes that Bitcoin could skyrocket to $200,000 or even more by the end of 2024 due to “massive supply and demand dynamics.”
“I think there will be an even bigger surge in a few months. But this has been the time for the Bitcoin IPO. It’s in a new era of price discovery and I think prices could rise substantially from here,” he added. Hougan.
Finally, Hougan’s colleague at Bitwise, CEO Hunter Horsley, set his prediction even higher – at $250,000 – arguing that Bitcoin has proven its merits for 15 years, but was “only accessible to some”, becoming echo his CIO’s view that Bitcoin ETFs will power the cryptocurrency.
Source: Ambito
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