Executives in the cryptocurrency industry predict a new bull run with bitcoin reaching over $100,000 in 2024.
In the cryptocurrency industry, there is growing optimism about the start of a new bull run. Many executives and experts are now calling for bitcoin to reach fresh all-time highs above $100,000 by 2024.
Bitcoin as a Safe Haven Asset
One of the reasons behind this bullish sentiment is the belief that easing monetary policies around the world will support bitcoin. As a risky asset, bitcoin is seen by many as a safe haven during times of geopolitical strife.
The Outlook for Bitcoin
When asked if he thinks bitcoin will hit $100,000 in 2024, one executive, Gauthier, responded with a cautious “maybe.” However, he emphasized that the fundamentals of bitcoin remain strong.
Ayyar, another expert, stated that bitcoin is currently consolidating below a key level of $38,000. This consolidation is seen as a positive sign for bitcoin’s future. If this level is broken, Ayyar believes that bitcoin could rally to between $45,000 and $48,000.
Risks to the Rally
However, Ayyar also warned that the current rally heavily relies on expectations of an ETF approval. If regulators reject the ETF again, it could negatively impact the ongoing bull run.
Hot Take: Bullish Predictions for Bitcoin’s Future
The cryptocurrency industry is buzzing with optimism as executives predict a new bull run for bitcoin. With expectations of fresh all-time highs above $100,000 in 2024, there is growing confidence in the digital currency’s future. The belief in easing monetary policies and its potential as a safe haven asset during geopolitical turmoil further supports this positive outlook. However, caution is advised as the rally’s success hinges on the approval of an ETF by regulators. Any rejection could disrupt the current momentum. Despite the risks, the strong fundamentals of bitcoin contribute to the overall bullish sentiment.
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