Crypto experts predict bitcoin price surge

Panel predicts bitcoin’s price to jump to $77,000 in 2024 and $367,000 by 2030

The price of bitcoin is expected to rise to around $77,000 by the end of 2024, according to a new report. The cryptocurrency price currently sits at around $45,000.  

Finder, an Australian-headquartered personal finance comparison website, carried out the study based on the predictions of 40 crypto specialists. The panel was made up of executives and founders from the likes of eToro, OKX and FV Bank.  

The panel predicts that Bitcoin will be worth $123,000 by 2025 and $367,000 by 2030. 

Bitcoin’s potential is due to several reasons, believes Kadan Stadelmann, chief technology officer of Komodo, a blockchain platform.  

First, major companies and institutional investors are showing growing interest which can drive demand. Second, the approval of spot ETFs makes it more accessible than before. Lastly, the 2024 halving will reduce the newly issued supply from 6.25 BTC per block to 3.125 BTC, “creating a scarcity that tends to increase its value,” Stadelmann said.  

Daniel Polotsky, founder and chairman of CoinFlip, also added that the US Federal Reserve may cut interest rates starting in 2024, which could lead to liquidity flowing into bitcoin.  

Polotsky said: “While the absolute top of the bull market, estimated between $150,000 to $250,000, may be on the horizon for 2025, some of the events above will create sustainable long-term value for bitcoin as well.” 

But everyone on the panel was not so optimistic.  

John Hawkins, senior lecturer at the University of Canberra, believes bitcoin is still little more than a speculative bubble. 

“If the new spot bitcoin ETFs are popular, there could be a temporary price increase,” he said. “But in the medium to longer-term, I still regard bitcoin as a speculative bubble.” 

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Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.