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For Bitcoin investors, 2023 was largely positive, but losses continue for investors waiting in altcoins. Crypto markets have remained volatile throughout the year, and many cryptocurrencies witnessed lows in 2023 that they had not seen in 2020. So, what do market predictions for the coming year say? What do the top 5 predictions tell us?
2024 Crypto Currency Predictions
The king of cryptocurrencies continues to hover around its 18-month peak, signaling a strong comeback for investors. November is historically a period of high volatility, and it could be the right time for a significant movement in BTC price. Looking at the average price increase percentage, we can say that November is the most fruitful month of the year.
Matrixport
The prediction from Matrixport, a cryptocurrency company founded by Jihan Wu, one of the founders of Bitmain, is impressive. In our market outlook published in October, analysts argued that they were getting closer to their annual target of $45,000 as the resistance zone of $31,500 was overcome. According to analysts, BTC will reach a price of $45,000 before the end of the year and make a dazzling start to 2024.
BitQuant
Halving is an important event for price predictions and has led to massive rallies for BTC in previous cycles. BitQuant predicts that BTC/USD will exceed the $69,000 level before April 2024. Why April? Of course, the predicted block reward halving will occur on this date. Analysts are targeting a strong ATH price above $160,000 and even $250,000.
This prediction is based on the Elliott Wave theory.
CryptoCon
One of the analysts who revealed six-digit price targets for the coming year is CryptoCon. According to the market expert, the price will reach $130,000 as the peak zone for the next year. If this target is achieved, we can expect even bigger rallies in altcoins.
Cathy Wood and Arthur Hayes
Many famous figures believe that the price of Bitcoin will eventually surpass $1 million. Cathy Wood, the founder and CEO of ARK Invest, said that the king of cryptocurrencies is preparing for a price of $1 million. Hayes also made a similar prediction and said it would happen.
“If people lose confidence in the bond market and in this artificial structure we have created in the last 80 to 100 years, then the amount of money looking for alternatives will be something we have never seen before.”
