The next 18 to 22 months are going to be incredible for bitcoin and many of the alts
Don’t forget to pay yourself
Taking profits is not all or nothing
Take % out on the way up
Almost nobody nails the exact top
Wealth Mastery was curious to compare bitcoin price predictions and each author’s reasoning side-by-side, in order to get a larger picture of what the institutions are thinking for next year.
So the following is a summary of several new forecast reports from some of the more established firms, banks, and institutions.
Without further adieu, here’s what the big boys are forecasting for bitcoin in 2024
JP Morgan analysts have said ETH will outperform Bitcoin in 2024 due to its planned Protodanksharding upgrade
Bitwise
Matrixport
Standard
Chartered
VanEck
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Bitwise
BTC Price Prediction
BTC will break $80,000
Reasoning
•ETF approvals in early 2024 will bring in "wave of new
capital from retail and institutional investors".
• Supply squeeze from April halving.
Matrixport
BTC Price Prediction
$63K by April, and
$125K by end of year.
Reasoning
• Historical trends, April halving, favorable geo-political
and macroeconomic factors.
Interestingly, Matrixport in January 2023 called for a
BTC price of $45K by end-of-year 2023. It looks like
they nailed it.
Standard Chartered
BTC Price Prediction
$100K by end of year.
Reasoning
•US banking crisis, USDC de-pegging, and Terra/Luna
collapse reignited idea that BTC is a safe-haven asset.
•Q1 ETF approvals to bring in institutional investment.
•April halving.
VanEck
BTC Price Prediction
Will hit an ATH in Q4 2024
Reasoning
• ETFs approved, $2.4B flows into ETFs, and BTC's price
likely doesn't break below $30K in Q1.
• In H2, BTC price "climb{s] a Presidential-sized wall of
worry."
•Trump wins election and price rises due to
expectation that SEC' anti-crypto approach will be
"dismantled".
•If BTC hits $100K by December, Satoshi Nakamoto is
named Time's "Man of the And since the big firms are making their predictions, it wouldn’t be any fun if we didn’t throw our hat into the ring. So here it is. For the same major catalysts as stated above, plus the Federal Reserve’s interest rate pivot next year, we predict bitcoin will trade between $150K to $180K at some point in 2024.
And just FYI, Coinbase Institutional, Crypto.com, Fidelity, and Pantera have all issued 2024 crypto forecasts within the last few weeks, but none of them ventured to make any specific BTC price predictions.
Other News
BlackRock & ARK Amend ETFs for a “Cash” Creation & Redemption Model
On Monday, both BlackRock and ARK filed revised proposals with the SEC to change their spot Bitcoin ETFs from “in-kind” to “cash” creation and redemption models.
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Bitcoin Mining Stocks (Nasdaq)
Marathon (MARA) Purchases Two New Mining Sites for $179M
Marathon, the world’s largest public bitcoin miner by hash rate, is about to get even larger.
On Tuesday, the company announced that it has entered into an agreement with Generate Capital for the purchase of two bitcoin mining sites for $179 million in cash. The deal is set to close in Q1 2024.
The sites are located in Granbury, Texas and Kearney, Nebraska. Both are currently operational, and together they’ll bring some big operational upgrades for Marathon
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Iris Energy (IREN) plans to double its hash rate in 2024 to 10 exahashes per second (EH/s) after buying new mining rigs
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Bitcoin miner Cipher (CIFR) has bought 37,396 antminers for $99.5M which are expected to provide 7.1 EH/s of self-mining capacity by the first half of 2025.
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Bitcoin miner Hut 8 (HUT) has signed an agreement to develop a mining facility in Texas for bankrupt Celsius.