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Bitcoin Price Forecasts: New All-Time Highs and More in 2024

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Bitcoin Price Forecasts: New All-Time Highs and More in 2024

Bitcoin market participants are anticipating new all-time highs for BTC price following the halving of its block subsidy. The halving, which is expected to occur on April 18, will decrease the supply of newly-mined bitcoins by 50% per block. This reduction in supply, combined with the buyer pressure from newly-launched spot Bitcoin exchange-traded funds (ETFs) in the United States, could lead to a supply squeeze. Some analysts believe that this could result in a significant increase in Bitcoin’s price, with one trader predicting a price of $130,000 by the end of the year.

Other forecasters have a longer-term outlook, with several price models converging around $130,000 as a potential upside destination for Bitcoin in late 2025. Charles Edwards, the founder of quantitative Bitcoin and digital asset fund Capriole Investments, takes this forecast even further, predicting a price of over a quarter of a million dollars per coin in 2025. He believes that each successive cycle peak for Bitcoin will be less extreme than the last due to the asset’s maturation and decreasing volatility. He also believes that the 2020 breakout, which saw the price of BTC/USD rise from $10,000 to $58,000 in just seven months, did not fully demonstrate Bitcoin’s true potential.

Some investors are even more bullish on Bitcoin’s price, expecting all-time highs to be reached within the next 30 to 60 days. Investor Fred Krueger argues that the newly-launched U.S. spot Bitcoin ETFs will attract significant capital inflows, leading to a potential 50% increase in the market and a price of $64,000.

The Bitcoin market is buzzing with anticipation ahead of the halving event. While some traders believe that the halving will have a significant impact on Bitcoin’s price, others have a more long-term view. Regardless of the timing, the general consensus is that Bitcoin’s price is set to reach new highs in the coming months and years.

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