Bitcoin Will Increase in Coming Time: Experts Predict [2024]

Bitcoin Will Rise Expert Prediction: Since volatility is nothing new, newcomers to cryptocurrency investment should exercise caution when allocating any sizeable percentage of their portfolio to the space. Like all other cryptocurrencies available on the market, the value of Bitcoin has steadily increased over time. It seems sense that investors in Bitcoin would want to know how far it can go in the future.

Unfortunately, Bitcoin’s price is tough to predict and is even more vulnerable to market factors than more established asset classes. But we still decided to ask some experts for their best estimates. It is what they said:

Bitcoin Price Predictions

When bitcoin achieved its previous all-time high in November of last year, it seemed simple to predict that it would reach a price of $100,000 before the end of the year. The prediction game has become much more difficult in light of bitcoin’s dramatic decrease since then.

The most dangerous crypto sceptics say Bitcoin will fall to $10,000 in 2023, but a middle ground might say that the cryptocurrency can still rally to $100,000 as many experts predicted late last year, just on a slower timeframe. It is said Bitcoin Will increase Experts Predict.

“Industry-savvy educators predict $100,000 worth of Bitcoin in Q1 2023 or earlier,” New York-based CPA and crypto expert Kate Waltman said in November 2021.

Optimistic Pundits

But now optimistic pundits are completely reassessing the crypto industry as major corporations like Nike, and other big brands look for ways to monetize their wares in the digital Metaverse. The rise of Metaverse games, creations, products, and experiences. Increases altcoins’ popularity, which has changed investor sentiment towards Bitcoin (known as the original crypto).

Many experts hesitate to predict a number and date, instead citing Bitcoin’s tendency to appreciate over time. Investors should expect a “fairly sustained” rise in Bitcoin’s long-term value, driven by organic market movements. With $100,000 on the horizon. Predicted Fidelity Investments global macro head Jurrien Timmer last October.

Why

Although other crypto asset classes and the larger crypto market are not, Bitcoin is now experiencing a negative mood cycle. The introduction of new altcoins and the excitement around the Metaverse will keep driving up demand for cryptocurrencies, which will ultimately result in a rise in Bitcoin. Since then, several cryptocurrencies have outperformed Bitcoin in terms of innovation related to what experts refer to as “Web 3.” Also referred to as the new internet powered by blockchain.

Matthew Hyland

• Viewpoint: Data Analyst and Technical Blockchain Analyst
• Prediction: Bitcoin could reach $100,000 in 2024

Why

January 2023 will see the same price for Bitcoin as January 2022, but due to increased demand for other coins, the value of Bitcoin will rise. Additionally, there is a continuing trend of bitcoin supply leaving well-known exchanges (likely to be stored offline in cryptocurrency wallets). Later on, he tweeted that a decline below $40,000 may trigger a “free fall” in the bear market for Bitcoin.

Robert Breedlove

Founder and CEO of digital asset marketing and consulting firm Parallax Digital

Forecast: $307,000 by October 2023 (now surpassed) and $12.5 million by 2031

Why

Post-COVID-19 pressures will fuel interest in crypto and push Bitcoin’s worth above previous estimates, Breedlove said in a meeting earlier this year. Known more as a philosopher among crypto enthusiasts. Breedlove often talks about the broader societal implications of crypto as a more transparent form of decentralized currency, but his price predictions are not accurate.

Large financial institutions have also released their projections. If the currency gains at rates similar to the past, JPMorgan forecasts a long-term high of $146,000 and Bloomberg a long-term high of $400,000.

Helpful Resources: Stock Archiving Guide

What Affects the Price of Bitcoin

Standard economic factors affect the price of cryptocurrency like any other currency or investment. Supply and demand, public opinion, news cycle, market events, scarcity, etc.

Additional factors affect Bitcoin’s value more than currency or average value as a new and developing asset. Here are some:

Defect

Only 18-19 million bitcoins are in circulation, and minting will stop at 21 million. Industry insiders consistently point to this built-in scarcity as a big part of cryptocurrency’s allure.

“There’s steady supply, but growing demand,” says Alexis Johnson, president of blockchain PR and events company Light Node Media.

Other experts point out that Bitcoin is valuable because people value it. “That’s why everyone buys. Because of the psychological aspect,” says Nelson Merchan, co-founder of Johnson’s Light Node Media. It can make it difficult for the average consumer to tell if Bitcoin and other cryptocurrencies are legitimate. The idea of supply and demand only works when people want something rare, even if it didn’t exist before.

“It almost looks like a scam,” Merchan says of Bitcoin’s origins. Though he says he’s seen his cryptocurrency holdings reach millions at times since they started investing in 2017. He’s also seen them vanish immediately.

“I have a strong belief that if it’s not cash, you don’t have that money because everything in crypto can fall dramatically overnight,” Merchan says. It is why certified financial planners suggest allocating only 1% to 5% of your portfolio to crypto to protect your money from volatility.

Broad Acceptance

One of the main factors driving the Bitcoin price surge is the speed at which new consumers are buying and exploring the cryptocurrency and  Bitcoin Will increase.

“Crypto technology is being adopted faster than the first human-adopted Internet technology,” he says. Assuming this continues. The accelerating rate of new adoption could continue to drive Bitcoin’s value higher.

According to digital asset management company Coin Shares, Bitcoin adoption has grown by 113% annually. (During that time, people adopted the internet at a slower rate of 63%.). Suppose people are becoming familiar with bitcoin at a rate comparable to (or faster than) the early days of the internet. In that case, the report says there will be a billion users by 2024 and 4 billion users by 2030.

According to CoinDesk’s announcement last month, from January 2020 to January 2021, there were over 66 million new wallets created globally, a 45% increase. Reputable cryptocurrency exchange Coinbase claims to have over 73 million members globally as of right moment. In addition, 21.2 million Americans possess cryptocurrencies, according to Gemini’s State of US cryptocurrencies Report, which was just issued.

Regulation

In recent months, federal officials have made sure that they pay attention to cryptocurrencies. Industry experts have recently hinted. That what crypto experts perceive as “tough” federal regulation is crucial for Bitcoin’s lagging price. In a recent interview with CoinDesk First Mover, CoinFund Managing Partner. Seth Ginns said that “the Fed went into an aggressive stance. when Omicron began to take action in the US,” raising the doubts crypto may have strengthened as a profitable asset—Bitcoin Will increase leading to bearish sentiment in January.

There are a lot of unsolved problems around crypto regulation. A new infrastructure legislation mandating that all bitcoin exchanges notify the IRS of their transactions was just approved by President Joe Biden. Similarly, stable coins were mentioned lately by Treasury Secretary Janet Yellen. Federal regulation ought to be applied to a certain kind of cryptocurrency that is based on the US dollar’s worth.

According to an industry whitepaper published by Flourish, a fintech platform for investment advisors, the discussion on regulatory policy is “uneven”. For a relatively new asset class like cryptocurrency, any new regulation can affect value.