I’m not good at predicting Bitcoin price changes. It requires a lot of research, including the overall economy, impending regulation, and the activities of “whales”, or large investors that can cause massive price swings through trading.
Since I am not a congressman, it is unfair to expect me to enjoy the privilege of insider trading without consequence.
To paraphrase Socrates, I am saying that I know exactly what I do not know.
Other than that, I am about as knowledgeable as a typical CNBC pundit. They are completely detached from reality, and they scream uninformed opinions at the camera, with unearned confidence.
The world has a problem because the intelligent are full with doubts and the stupid are full of confidence.
Please take this warning to heart, as I don’t want to be blamed for giving financial advice. Current indicators indicate that 2024 could be a great year for Bitcoin. Some even predict a return to the all-time high of $70,000 against the dollar, up from its present valuation of $45,000.
Bitcoin is set to gain for a fifth consecutive month, which would be its longest winning streak since the pandemic rally fuelled by easy money.
The biggest digital asset rose about 2% in the month of January. This was a month marked by pronounced swings, caused by the launch of the US spot Bitcoin Exchange-Traded Funds and changing views on the outlook of monetary policy.
Bloomberg data shows that a run of five consecutive monthly gains would be longest since the six-month period between October 2020 and March 2021.
Finder’s most recent survey of 40 cryptofounders, executives and educators reveals a bullish view for Bitcoin. It projects its value will increase significantly until 2030. Panelists predict that Bitcoin’s value will rise to $77,000 by 2024. It is expected to reach $122,688 in 2025 and $366 935 by 2030. These projections show a significant increase in optimism when compared with previous surveys. This indicates a growing bullish sentiment among the sector.
The average projection is that Bitcoin will reach $77,000 by 2024. However, the predictions vary significantly between panelists. Some predict a rise to six figures in the next year while others are more conservative and expect a possible decline from its current $44,000 price.
It is inevitable that something will replace the U.S. Dollar. It is anyone’s guess whether it will be Bitcoin, some CBDC monstrosity or the Chinese Yuan.