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Edited by Niti998 at 25-12-2023 11:51 AM
In 2023, Bitcoin embarked on a roller-coaster ride, with its initial strong momentum igniting hopes of a cryptocurrency market recovery. However, recent volatility has seen it hovering around the $26,000 mark, casting uncertainty over its future, especially considering the upcoming Bitcoin halving in 2024. Over the past month, Bitcoin has experienced a drop of more than 10%, further intensifying the unpredictable atmosphere.
Financial analyst Layah Heilpern diligently collected a range of 2024 Bitcoin price predictions from experts. These predictions vary widely; Tim Draper optimistically forecasts $250,000, while JP Morgan takes a more cautious stance, estimating $45,000. Cathie Wood boldly predicts $1 million, Arthur Hayes forecasts $70,000, and Robert Kiyosaki envisions Bitcoin reaching the heights of $100,000.
In this array of predictions, Layah Heilpern offers her own forecast, anticipating a target of $75,000 for Bitcoin in 2024. However, she adds an intriguing twist, suggesting that the real bull market may not materialize until 2025. She emphasizes this point with her statement, "My projection looks the most grounded. I foresee the real bull market igniting in 2025."
Looking back at Bitcoin's recent history, it reached a record high of $68,789.63 in 2021 but dropped significantly to $15,760 in 2022. The beginning of 2023 brought new optimism, with Bitcoin surging by 83% and surpassing the $31,035 mark. However, mid-August brought an unexpected setback, leading to a rapid 7.2% decline in Bitcoin's price, plummeting from $29,000 to $26,000 in less than a day. Currently, Bitcoin hovers around $26,632, with bearish sentiments prevailing in the market.
Events like the Producer Price Index (PPI) and Consumer Price Index (CPI), set to be released later this week, could exacerbate market volatility, adding complexity to the market's dynamics. |
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Post time 19-9-2023 16:46:07