Crypto pros deliver their Bitcoin (BTC) price prediction for 2024

Bitcoin (BTC) price had a strong performance in 2023 as it rose by over 162%. This surge made it the best-performing major asset as it outperformed the likes of Nasdaq 100, Tesla, S&P 500, and gold. 

Bitcoin performance was one of its most important since it came as most investors were writing it off following the collapse of FTX in 2022. It also came as the Securities and Exchange Commission (SEC) took a more confrontational approach to crypto regulations. It sued Binance and Coinbase and recently settled with the former. 

Therefore, analysts believe that Bitcoin’s resilience and historical outperformance will make it a crucial asset in a balanced portfolio. This means that institutional investors will start allocating funds to Bitcoin as a way of diversification.

Bitcoin has three key tailwinds in 2024, including April’s Bitcoin halving, low-interest rates globally, and spot Bitcoin ETF approvals. Here are some Bitcoin price predictions by some of the leading analysts.

Natalie Brunell expects a good year

Natalie Brunell, a crypto-journalist who hosts a popular podcast, is positive about Bitcoin as we head into 2024. In a recent Tweet, she said that Bitcoin was energy, better alternative to fiat currencies, and is a tool to reward excellence. She also appeared in Fox Business and made the case for BTC and why she expects it to keep surging in 2024. She said:

“For the first time in history we have an incorruptible, global, digital, rules-based, monetary network with absolute scarcity and it’s not going to be a question of if you have Bitcoin in your portfolio, it will be a question of how much.”

Michael Saylor Bitcoin prediction

Michael Saylor, the founder of MicroStrategy, is one of the biggest Bitcoin bulls in the world. Just on Wednesday, his company announced that it had acquired additional coins worth $650 million, bringing the total holdings to almost $6 billion.

Therefore, as you’d expect, Saylor is extremely bullish on Bitcoin as we head into 2024. Like Natalie, he believes that BTC is one of the biggest innovations in the world. He also believes that a spot Bitcoin ETF will be the biggest financial asset in over 30 years when the SPY ETF was introduced.

“I believe that a spot Bitcoin ETF will be a major catalyst followed by halving in April. Halving will reduce the Bitcoins brought in the market from 900 a day to 450. We are expecting 2024 to be a major bull run for Bitcoin.”

Larry Fink 

Larry Fink is the most powerful man in Wall Street because of the $9.4 trillion company he rums. Today, Blackrock owns most companies you know, including Apple, Microsoft, and Nvidia. Therefore, it was quite surprising for Fink, a traditionalist to embrace Bitcoin in 2023. 

Blackrock has already filed for a spot Bitcoin ETF after seeing robust demand from its institutional clients. While Larry Fink has not delivered his Bitcoin price forecast for 2024, he is quite optimistic. Consider the following statements he made in 2023.

Standard Chartered Bitcoin forecast

Standard Chartered, the giant British bank, has become one of the most bullish ones in the industry. In a report earlier this year, the bank noted that the Bitcoin rally had more room to run. In a recent note, the bank reiterated that Bitcoin was on track to hit $100k in 2024. If this happens, it means that the coin will more than double from the current level. The report added:

“We think several spot ETFs will now be approved in Q1-2024 for both BTC and ETH, paving the way for institutional investment. BTC’s dominance remains intact – its share of overall digital assets market cap has increased to 50% from 45% in April.”

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