Bitcoin price forecast up to $100,000 - is it a realistic prospect according to analysts

By the end of 2024, the price of the first cryptocurrency will rise to $100,000. This forecast was made by the Chief Investment Officer Bitwise Matt Hogan, reports. The Block.

Bitcoin dropped by 7% from its recent peak of $66,508 (September 27, 2024). Some analysts are trying to reassure investors that this is just a short respite before a new breakthrough. In their opinion, the crypto has "overheated" and is now cooling down before the final race of this year. However, for now. key indicators of BTC They say he has stepped out of his comfort zone.

"Bitcoin has deflated, but I know it won't last long. The current situation can be compared to a rocket that is slightly descending before the last jerk. Yes, the numbers show that things are not so rosy, but wait until the end of the year," said Jamie Coates, crypto analyst at Real Vision.

Coates cites the MVRV token as an example that reflects the real state of the BTC market. It clearly demonstrates that Bitcoin is now greatly undervalued. Over the past 3, 2, and 4 years, it has fallen by 116%, 94%, and 107%, respectively. Jamie never tires of arguing that the situation looks like a supercompany's share was trading at the price of a cheap hamburger. In addition, the crypto analyst drew attention to the open interest in the digital asset. In his opinion, it is currently extremely high.

"The global economy is filled with money like a barrel of water. The recent correction in the cryptocurrency market has allowed it to reboot and prepare for new growth," says Jamie Coates.

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What Alden, Peterson and Archie say about the price of BTC

September was a record-breaking month for Bitcoin, pleasing investors with an increase of almost 8%. However, the next quarter promises to be interesting. After all, 2024 is not only the year of halving but also the year of the US elections. Let's consider several opinions of reputable experts and try to get a more complete picture of the prospects for the value of BTC:

• Alden found a close connection between the price of Bitcoin and the amount of money in the global economy. When there is more money, the price of BTC increases. This has been confirmed by many years of observation.

• Peterson believes that during the elections Bitcoin usually does not feel very good. Investors are getting nervous and pulling money out of risky assets. According to the analyst, investors are becoming more cautious before the election. Uncertainty about political outcomes makes them look for safer investments.

• Archie, the founder of BTC Archive, believes that Bitcoin's positive dynamics in September could be the beginning of a powerful new rally. He predicts that by the end of the year, the BTC price could reach the six-figure mark, breaking the psychological barrier of $100,{{1}}.

Ryan Selkins, CEO of the analytical company Messari, also expressed optimism that Bitcoin will reach the $100,000 mark within the next 12 months.

To summarize

Forecasts of Bitcoin value growth to $100,000 look ambitiousbut not without reason. Indeed, the existing trends and factors may contribute to the price increase of the first cryptocurrency. However, no expert is able to give an accurate forecast for the future of Bitcoin. Investing in digital coins always involves risk, so we recommend diversifying your portfolio.

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