Bitcoin is currently trading at $43,200 after rising more than 4% over the past week, with the launch of spot Bitcoin exchange-traded funds (ETFs) in the US having helped its price rise exponentially last year. Analysts currently believe BTC may nevertheless keep going,to surpass $122,000 next year.
Finder’s panelists have notably raised their BTC price predictions from previous surveys, predicting for the first time a rise above $100,000 by 2024 and above $300,000 per coin by 2030.
Kadan Stadelmann, CTO of Komodo, attributed Bitcoin’s “potential to reach $80,000 in 2024” to several factors, including major companies and institutional investors showing growing interest in the cryptocurrency, the launch of spot Bitcoin ETFs, and the upcoming Bitcoin halving event, which will reduce the coinbase reward miners receive from 6.25 BTC to 3.125 BTC per block.
Not every expert was as bullish, however. University of Canberra Senior Lecturer John Hawkins said that if spot BTC ETFs are popular “there could be a temporary price increase,” but said that he sees BTC as a “speculative bubble” in the medium to longer-term.
Featured image via Unsplash.
