Cryptocurrency experts predict bitcoin’s growth to $ 3 million

The cryptocurrency community is looking forward to what 2024 will bring to the digital asset industry. Experts note that next year may be full of narratives and catalysts that will create or destroy several virtual coins, digital projects, and even blockchains. However, analysts are focusing on the flagship of the crypto market BTC $62,665.25 Bitcoin -0.33% Market capitalization $1.24 trillion VOL. 24 hours $1.31 billion , as it is expected to receive the most attention.

Analysts note that everything is headed for a significant growth of bitcoin. This is facilitated by global inflation and geopolitical tensions, the halving of the main cryptocurrency, and more than ten institutions (including BlackRock) waiting for the approval of a bitcoin ETF. With so much excitement and interest surrounding bitcoin, crypto experts have identified the best forecasts for the BTC price in 2024 and beyond.

$ 3 million is perhaps one of the most outrageous predictions of the BTC price, but bitcoin adept Luke Broyles believes that it will happen. Broyles suggested that BTC could soar to $ 3 million if only 10% of the US population accepts it.

The analyst compared BTC to the initial development of the Internet, which started as a niche industry with low adoption and then became an everyday necessity. He also called BTC the first triple asset, as the coin provides users with a store of value, a medium of exchange, and a unit of account.

The price forecast of $ 150 thousand comes from the investment research company Bernstein. According to the firm’s analyst Gautam Chhugani, BTC could reach the ATH series starting in 2024 if the US Securities and Exchange Commission approves one or more spot exchange-traded funds. Such demand, coupled with a reduction in supply after the halving, could push BTC to over $ 100 thousand.

The expert said that at least 10% of the BTC supply in circulation will be directed to ETFs, which will further increase the price of the crypto asset.

The next target for BTC is $ 180 thousand, which was predicted by the well-known crypto influencer Pentoshi. The analyst noted that no one is sure what will happen after the approval of the exchange product. «What we do know is that ETF experts believe that the probability of approval is 90% and that bitcoin is not going anywhere. It has a fixed supply in a world of infinite printing,» the expert emphasized.