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Periodically, the product comparison website finder.com releases a new price prediction survey focusing on key cryptocurrencies and gathers a wide array of crypto and fintech experts for their perspectives. According to the most recent report on bitcoin forecasts, the panel of experts anticipates that bitcoin could attain a value in the six-figure range by 2024.
Will Bitcoin Reach $100,000 in 2024? Finder.com’s Latest Survey Says Yes
Finder’s latest survey on bitcoin’s (BTC) price involved a unique panel of 31 crypto and fintech experts. The results suggest that BTC could reach a peak of $122,000 in 2024, and then settle at $109,000 by year’s end. Nick Ranga, the senior crypto and forex analyst at Forextraders, attributes the current uptick in BTC’s value to growing institutional engagement. Ranga is among those experts who foresee BTC reaching its zenith once more in 2024, ultimately closing the year around the $100,000 mark per unit.
“The primary catalyst of the current crypto bull market has been the vast inflow of institutional capital following the SEC’s approval of the first bitcoin spot [exchange-traded funds] (ETFs),” Ranga remarked. “Demand is already outstripping supply, reportedly by a factor of 10. This is coupled with the anticipated supply shock of the upcoming halving event, where the supply of new bitcoins entering the market is cut in half.”
The analyst added:
Retail investors are also returning to crypto, with many exchanges reporting an increase in new registrations.
The Finder’s survey also forecasts that BTC could climb to $151,000 by the end of 2025 and $567,000 by the close of 2030. Nonetheless, not every expert on the Finder’s panel shared this optimistic view, with 13% arguing that bitcoin is presently overvalued. John Hawkins, a senior lecturer at the University of Canberra, aligns with this perspective, suggesting that the leading crypto asset by market cap might even fall to $20,000 by the end of 2024.
“The current run-up in price seems mainly related to the spot ETFs,” Hawkins explained in the finder.com report. “But when the ETFs based on bitcoin futures were launched in [October 2021], the price also reached an all-time high, only to crash over the following year. Having ETFs still does not give bitcoin any fundamental value or legitimate use. It remains a speculative bubble,” Hawkins added.
Shubham Munde, a senior market research analyst at Market Research Future, maintains that the halving will drive higher prices. Nonetheless, Munde holds a more conservative view, estimating that BTC will close 2024 at approximately $91,000 to $95,000 per coin. “The halving event is expected to cause a significant surge in [bitcoin’s] price if we compare the previous trends,” Munde said. “[Bitcoin] demand is constantly increasing and hence its value will increase substantially since institutional and retail investors are constantly growing.”
The majority (61%) of Finder’s prediction panel recommends purchasing bitcoin prior to the halving event, while 32% suggest holding onto the leading crypto asset, and merely 6% advocate selling. On average, Finder’s panelists estimate that bitcoin will be valued at approximately $109,141 by the end of 2024. The projections in Finder’s recent survey are notably higher than those seen during the extended crypto downturn that lasted through 2022 and into 2023.
What do you think about Finder’s latest bitcoin price predictions report? Share your thoughts and opinions about this subject in the comments section below.