The post What’s Next for Bitcoin After $100K? Experts Predict the Future of BTC in 2024 appeared first on Coinpedia Fintech News
It’s a big day for Bitcoin. Finally, the Bitcoin market has surpassed the $100K milestone. The crypto community has been waiting for this moment for a long time. The event naturally has triggered tremendous enthusiasm among crypto lovers. At the time the community is celebrating the achievement, some have raised a curious question: “What’s next for BTC?”
Bitcoin’s $100K Milestone: An Overview
The fourth quarter of 2024 has been an excellent period for Bitcoin. Since November 5, the BTC market has experienced a surge of at least 51.12%. A few trends that have been witnessed during this period include the global political landscape, especially the US political scenario, shifting in favour of cryptos, and growing institutional interest in large-cap cryptos, especially Bitcoin, Ethereum and XRP. Yesterday, the BTC market showed an impressive rise of 2.91%. At the time of writing, the Bitcoin price stands at $102,676.00 – around 2.67% above the $100K milestone.
Learning from Bitcoin’s Halving Cycles
The current trend looks extremely favourable for Bitcoin. Unsurprisingly, investors are currently eager to know how far can the BTC price go in this halving cycle. The simplest and sensible way to address this question is to analyse the historic cycle return pattern. Unfortunately, what the pattern conveys is unimpressive: ‘reducing returns over time.’ In the 2013 cycle, the return was around 7900%; in 2017, it declined to 2560%; and in the previous cycle, it was just 594%.
Considering this pattern, no sensible expert can predict more than a 200% return in this halving cycle for BTC.
Also Read : Attention Traders: Do Not Miss the 30% Rise of This Dwindling Altcoin in December 2024 ,
Future Projections for Bitcoin
No wonder why most experts think that Bitcoin’s growth would remain within the range of 100% and 200%. That means the most optimistic projection can expect Bitcoin to reach $190,000 – not an inch further.
Absolutely, there is no point in projecting unrealistic targets when the pattern explains the situation clearly with no room for any confusion.
Are you curious to know if the Bitcoin price will hit $120,000 this 2024? Read CoinPedia’s Bitcoin Price Prediction to explore the long-term possibilities! Moreover, subscribe to us for the latest crypto updates!
Global Reserve Asset Possibility: A Ray of Hope for BTC
Nonetheless, there is a small ray of hope. It is none other than the possibility of BTC becoming a global reserve asset. Almost all experts agree that if something like this happens in the Bitcoin market, it would mark the beginning of a period of exponential growth for BTC.
FAQs
Bitcoin’s future value depends on market conditions, but projections estimate it could reach $250,000-$500,000 by 2030
Bitcoin recently hit an all-time high of $103,403, surpassing the $100K milestone for the first time.
Only about 2.3 million BTC remain to be mined, with the total supply capped at 21 million coins.