Bitcoin price predictions: How much more could the cryptocurrency rise in 2024?

euronews.com:

Bitcoin (BTC) is expected to reach a new record of $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report.

The cryptocurrency's current price sits at around $43,000. 

UK fintech firm Finder carried out a study based on expert price predictions of 40 crypto industry specialists on how Bitcoin is expected to perform through to 2030.

Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000.

On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.

More than half of the experts Finder surveyed expected the price to increase after a so-called "BTC halving event" in April 2024.

A halving event refers to a period every few years when the reward for mining Bitcoin transactions is cut in half. As things stand, those validating Bitcoin transactions currently get 6.25 bitcoins, which could go down to 3.125.

Halving events lead to a lower supply, with fewer Bitcoins made available, thereby leading to higher prices.

Just under half of the 40 panellists surveyed (47%) believe that Bitcoin is going to reach a new all-time high six months after the halving event.

Kadan Stadelmann, CTO of blockchain platform Komodo, said in the report that Bitcoin is probably facing a fair bit of pressure, not only because of the expected halving event but also because "major companies and institutional investors [are] showing growing interest [in Bitcoin, which] is likely to drive demand." 

Many experts forecast more buyers on the market following the US Securities and Exchange Commission's recent approval