Bitcoin is predicted to reach a historic high this year

Currently, the flagship of the crypto market is in a steady consolidation, despite the fact that last month the US approved industry-specific ETFs. So far, large buyers are acting cautiously, but many experts believe that this year BTC $56,825.64 Bitcoin -0.75% Market capitalization $1.12 trillion VOL. 24 hours $1.14 billion will manage to update the historical high.

For example, popular trader Alan Tardiguin recently confirmed his long-term forecast. According to the analyst, bitcoin could reach $ 130,000 by the end of 2024. In his analysis, the expert referred primarily to technical indicators. He believes that the long-term growth trend of the Cryptocurrency remains stable. At the same time, large buyers will become more active as the halving date approaches.

Charles Edwards, founder of Capriole Investments, is even more positive. He believes that the global price benchmark for bitcoin remains $ 280,000. The expert suggests that this mark can be reached by the flagship crypto asset by the end of this year.

Crypto trader Fred Krueger noted that in the next few months, bitcoin could reach the ATH, which was recorded at the end of 2021 at $ 69,000. In his opinion, the emergence of spot bitcoin ETFs had a huge impact on the development of this trend.

A few days ago, Fred Thiel, Chairman and CEO of Marathon Digital Holdings, emphasized that the upcoming doubling of the bitcoin exchange rate would double its value compared to gold. Thiel expects BTC to reach ATH by the end of the third or early fourth quarter, after which a sell-off will begin, which could reduce its value.

According to Thiel, this trend will stabilize by the beginning of 2025, after which a gradual increase will begin. Thus, by the end of 2025, bitcoin could reach an ATH of $ 120,000.