- Bitcoin, the leading cryptocurrency, continues to captivate investors with its potential for growth and innovation.
- IntoTheBlock, an analytics firm, predicts an 85% chance of bitcoin hitting a new all-time high in the coming months.
- Experts like Max Keiser and Peter Brandt offer varying forecasts, with predictions ranging from $220,000 by 2024 to $200,000 by 2025. Fidelity’s Jurrien Timmer envisions a single bitcoin reaching $1 billion by 2038, while Chamath Palihapitiya believes $1 million per bitcoin is possible by 2040, emphasizing bitcoin’s scarcity and institutional adoption as key drivers.
Bitcoin stands as the largest cryptocurrency globally, renowned as the pioneering and most valuable digital asset. Its unique attributes, growth prospects, and influence on other cryptocurrencies make it immensely attractive to retail investors and traders.
IntoTheBlock, a prominent analytics company, suggests an 85% likelihood that bitcoin will achieve a new all-time high within the upcoming six months and beyond.
Now, let’s delve into future bitcoin’s prices through technical analysis by consulting with five experts and exploring the perspectives of leading crypto analysts.
1. IntoTheBlock forecasts: Next all-time-high in May
Lucas Outumuro, Head of Research at the analytics firm IntoTheBlock, anticipates the imminent arrival of the next all-time high for bitcoin.
With the upcoming bitcoin halving scheduled for April, which will halve bitcoin miner rewards, Outumuro suggests that the event is likely to alleviate selling pressure. This is due to bitcoin’s issuance inflation rate will decrease from 1.7% to 0.85% after April, as a result of the halving.
According to Outumuro, “For this reason, as well as the continued specialisation in miner equipment, we predict bitcoin’s all-time high to reach another all-time high just a month after the halving.”
Also read: 7 things you need to know about the bitcoin halving
2. Max Keiser forecasts: $220,000 per 1 BTC by the end of 2024
Max Keiser, a seasoned financial commentator and advocate of bitcoin, is well-known for his bold and sometimes controversial predictions.
Keiser recently expanded on his forecast of a $220,000 price target for bitcoin, indicating that “social unrest” and “societal breakdown” are essential factors for propelling its value to such heights.
This prediction, initially made in 2023, remains relevant, as evidenced by his recent statement reaffirming that “$220,000 is still in play” on X this year.
Pop quiz
What is the likelihood, according to IntoTheBlock, of bitcoin hitting a new all-time high in the coming months? A. 50%
B. 75%
C. 85%
D. 90%
The correct answer is at the bottom of the article.
3. Peter Brandt forecasts: $120,000 – $200,000 per BTC by September 2025
Author of the Market Wizard Series which are interviews with top traders, Peter Brandt, recently shared his bitcoin price forecast on Twitter. He prompts an upward vision of the target for the ongoing bull market cycle, set to conclude in 2025.
Brandt said: “With the thrust above the upper boundary of the 15-month channel, the target for the current bull market cycle scheduled to end in Aug/Sep 2025 is being raised from $120,000 to $200,000.”
Also read: Did Tesla buy bitcoin again?
4. Fidelity forecasts: $1 billion per 1 BTC by 2038
Jurrien Timmer, the Director of Global Macro at Fidelity Investments, sees the potential of a single bitcoin could reach $ 1 billion by the year 2038.
According to Timmer, the dollar’s value fluctuates with respect to other assets.
He went on to say that $1 invested in equities in the eighteenth century was equivalent to around $4 billion in modern currency. Based on this supposition, $1 million now may be worth $1 billion in 20 years.
5. Chamath Palihapitiya forecasts: $1 million per 1 BTC by 2040
Billionaire Chamath Palihapitiya believes that bitcoin has special qualities that make it a strong candidate to become a reserve currency for the entire world.
Palihapitiya’s prognosis relies heavily on the restricted quantity of bitcoin. Because bitcoin has a limited quantity of 21 million coins, its scarcity will rise over time due to its deflationary architecture.
Palihapitiya highlights how institutional investors are becoming more interested in and using bitcoin. Major financial players including PayPal, MicroStrategy, and Tesla have backed bitcoin, enhancing its reputation as a safe haven for investors.
The correct answer is C.
