Trump’s Election Sparks Bitcoin Rally to $91,886: Experts Weigh in on 2024 BTC Price Outlook
Following Donald Trump’s victory as the next president of the United States, Bitcoin has seen a massive rally, rising about 22.79% to reach new all-time highs of $91,886 in just one week. Analysts are currently examining the potential high or low price of Bitcoin by the end of this year. In the rest of the article, we will discuss the thoughts of 9 different analysts on the price of Bitcoin.
Lennix Lai Forecasts Bitcoin Rally to $100K Amid New Growth Phase for Crypto
By the final day of trading in 2024, Lennix Lai, the global chief commercial officer of cryptocurrency exchange OKX, predicts that the price of Bitcoin will have risen to “beyond $100,000.”
We’re seeing signals of a potential paradigm shift into the next growth phase for crypto, which I think has the potential to push BTC beyond 100k before the end of the year,
Lai
Lai cautioned, however, that a large portion of Bitcoin’s recent upward rise may be attributed to transient excitement and that the market had already priced in several bullish events, including the election results and increasing traditional stock markets.
It’s important to bear in mind that considerable macroeconomic uncertainty exists. The post-election landscape may include drastic government spending cuts and tariff reforms that could be a shock to markets. I believe that these factors could exacerbate inflation — potentially slowing the anticipated pace of Fed rate cuts,
Lai
Bitcoin Expected to Close 2024 Near $90,000, Says IG Markets Analyst
Bitcoin is expected to finish the year in the low to mid $90,000 range, according to IG Markets analyst Tony Sycamore. During Bitcoin’s unexpected surge to more than $90,000 on November 11, he said that many of the positive developments since Trump’s election had already been factored in.
The other reason is that it’s probably getting close to that time when some of the altcoins should start to play some catch-up. Ethereum, for example, is trading 20% below its year-to-date high, so I suspect that switching out of Bitcoin and into alts is a theme we will see play out into year-end.
Sycamore
Analyst Josh Gilbert Sees Bitcoin Reaching $100K by Year-End with Institutional Support
By the end of the year, Bitcoin is expected to reach a new six-figure all-time high of $100,000, according to market analyst Josh Gilbert of eToro, who claimed that the cryptocurrency’s recent run of record highs is far from done. Like several other analysts, Gilbert pointed to many factors as major drivers of future growth, including Trump’s election, declining interest rates, a strong US economy, and an increasing institutional demand that resulted in record daily inflows into Bitcoin ETFs last week.
This run is yet to exhibit the ‘euphoria’ levels from retail that we’ve seen in previous cycles,
Gilbert
Ki Young Ju Forecasts Bitcoin Price Correction, Predicts Year-End Close at $58,974
Ki Young Ju, CEO of CryptoQuant, gave a more pessimistic assessment of Bitcoin’s price movement over the coming months. Ki wrote on Nov. 9 to X that he believes Bitcoin will end the year at $58,974 and that an impending correction is due to overheated derivatives activity.
I expected corrections as BTC futures market indicators overheated, but we’re entering price discovery, and the market is heating up even more. If correction and consolidation occur, the bull run may extend; however, a strong year-end rally could set up 2025 for a bear market.
Ki
Pav Hundal Anticipates Bitcoin Ending 2024 at $103K, Based on Fibonacci Extension
Although it’s hard to pinpoint a precise goal for the year’s conclusion, SwyftX lead market analyst Pav Hundal stated that he anticipates Bitcoin to conclude 2024 trading just above $100,000.
If you apply a common Fibonacci extension to the last cycle’s high and low points, it points to $103,000 by the end of the year,
Hundal
HDI Fund’s Guy Armoni Predicts Bitcoin’s Bullish Trend Will Continue into 2025
According to Guy Armoni, managing partner at HDI Fund, Bitcoin has not yet reached its cycle top value, and if the current trend continues, it should be trading higher. Armoni anticipated that the primary factors influencing the price of Bitcoin as the year came to a close and into 2025 would be the expanding global use of cryptocurrencies and a more hospitable regulatory environment for cryptocurrency assets and businesses in the US.
Quantum Economics’ Mati Greenspan Sees Bitcoin’s Bull Run Continuing Into 2025
For the majority of this year, Bitcoin has been shrugging off incredibly optimistic fundamentals and consolidating rather than rising, according to Mati Greenspan, the founder and CEO of Quantum Economics. Greenspan predicted that the asset would continue to outperform until the end of 2024. Greenspan disputed the widely accepted belief that this bull run would end in a few months, stating that he believes cryptocurrency’s upward trajectory will continue for a long time.
Bitcoin Poised for $100,000 by 2024’s End, Says Collective Shift CEO Ben Simpson
Ben Simpson, the CEO of Collective Shift, stated that although there will probably be short-term declines and corrections, he believes Bitcoin will end the year at $100,000.
With the Trump election, interest rates coming down, the potential for quantitative easing starting up in the future, and getting relatively consistent days of a billion dollars Bitcoin ETF volume, more people are catching on. When you’ve got a limited supply asset like Bitcoin and the amount of demand that’s coming in, the space is only going one way.
Simpson
Bitcoin Set to Reach $100K in 2024, Says Tom Wan Amid Institutional Demand
Though he noted record open interest in Bitcoin as a possible short-term obstacle, independent analyst Tom Wan stated that investors are already pricing in the anticipated pro-crypto regulations of a Trump government and spiking inflows into spot Bitcoin ETFs. Like many other analysts in the cryptocurrency market, Wan has a very positive prognosis for prices going forward.
I believe Bitcoin would cross the $95,000-100,000 mark before the end of 2024. However, it is important to note that $100k is a key psychological zone, and we could see a significant selling wall near that range. With the anticipation of crypto-friendly regulation, I believe we should see more institutional investors like pensions, RIAs, state governments and public companies start allocating to crypto, which could fuel BTC to rise above important price levels,
Wan
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