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Industry Experts Predict Potential Soaring of Bitcoin Prices in 2024

Jonathan Wong

Jonathan Wong

12 February 2024

The CEO of CryptoQuant predicts that Bitcoin will reach $112,000 in 2024. Based on Market Value to Realized Value measures, Ki Young Ju believes that interest in spot Bitcoin exchange-traded funds (ETFs) could drive prices to $104,000 - $112,000. This is contingent on continued ETF inflows. Other analysts share this view.

Markus Thielen, head of research at Matrixport, attributes a potential spike in Bitcoin's price to the Lunar New Year. Similarly, Anthony Scaramucci, CEO of SkyBridge Capital, predicts a Bitcoin price of $69,000 by the end of the year.

Past patterns and current market data indicate a potential Bitcoin price increase. Bitcoin currently sits at approximately $48,330 and has gained 12.65% in the past week. Ki Young Ju also forecasts a price range of $55,000 - $59,000 based on Bitcoin's MVRV level of 2.07, free from hype and speculation.

With the introduction of spot ETFs and positive industry predictions, Bitcoin is poised for significant price increases in 2024, according to various industry experts, including Ki Young Ju, Markus Thielen, and Anthony Scaramucci.