Bitcoin is predicted to grow to $ 100,000 in 2024

Paul Ari, founder of BlockTower Capital, a crypto hedge fund, said that by the end of 2024, bitcoin could be worth $ 100,000. According to the investor, the main trigger for the rate’s growth will be the inflow of fiat money from traditional financial institutions, as they will be more active in buying cryptocurrency. Given the current macroeconomic climate, BTC reaching its double historical high (the most expensive price of BTC was recorded on November 8, 2021, when the flagship cryptocurrency was trading for $ 67,567) can be considered a plausible scenario.

However, the investor also allows for another scenario: the markets could suffer from a recession, and a third of stock exchanges could close. Then, according to Ari, BTC could trade below $ 12,000.

Since January 1 of this year, the quotes of the flagship digital currency have increased by almost 40%, the last time such a result was recorded by industry experts 10 years ago. Coindesk analysts emphasize that such a rapid growth in the value of bitcoin occurred amid the weakness of the US dollar (USD). According to observers, the price rally was driven mainly by buyers from the United States. Earlier, Біллі Маркус" href="https://noworries.media/biography/billi-markus/" data-bio-id="3704">Markus Thielen, Head of Research and Strategy at crypto services provider Matrixport, emphasized: «Bitcoin has risen by 40% since the beginning of the year. At the same time, 35% of the growth is accounted for by trading in the United States. This is a significant contribution to the asset’s rally.»

At the time of writing, bitcoin is trading at $ 23,719. The asset’s market capitalization is $ 457.2 billion, and daily trading volumes are $ 6.62 billion.