The prediction of seven experts on the price of Bitcoin for the next 6 months; How much will BTC be on July 10?
What you are reading is a translation a note It is from Cointelegraph’s website and is not the opinion of Digital Currency.
The U.S. Securities and Exchange Commission on January 10 (Dec 20) simultaneously approved 11 applications to launch Bitcoin Cash ETFs, prompting speculation about how the market will react to the news this week.
In the hours after the publication of this news, Bitcoin rose to $49,000, but then on January 12 (22nd), the price in some markets dropped to $41,500; A move that, despite its intensity, surprised few people. Right now, with the halving event in April just around the corner, there is little consensus on Bitcoin’s future.
We asked several members of the CoinTelegraph media and a number of analysts to predict Bitcoin price trends in the coming months. Just keep in mind that the last time we asked them to do this, some got all 5 price figures wrong. So you shouldn’t take these predictions as investment advice unless you’re looking for a way to lose your money!
Tom Blackstone, Cointelegraph reporter:
Bitcoin recently barely broke through resistance and ended December at $42,265. This level is $2,265 above what I had predicted a few months ago.
As it can be seen from the past performance of Bitcoin, the price in the halving year experiences a much greater growth compared to the previous years. So, while I believe June is too early for a major uptrend to begin, I expect prices to grow further by the end of 2024. I imagine Bitcoin will have made a new all-time high by the end of the year. Also, I don’t think news about Bitcoin Cash ETFs will affect the market for more than two months.
What do you think the price of Bitcoin will be on June 30 (July 10)?
Blackstone’s response: I’d imagine it’s over $47,000.
Lucas Kiely, Chief Investment Officer of the Yield App platform
It is possible according to the ruleBuy with rumors and sell with news“, we will see downward movements in the market, but these movements are only formed by short-term traders. Holders do not sell; Especially before the halving, which in the past has always been the trigger for big jumps in the long-term of Bitcoin. The share of long-term holders of the circulating supply of Bitcoin is now about 76%, which is higher than at any time in the past.
We may see a not-so-serious price pullback, but it won’t be a big deal. It may take some time to cross the $50,000 threshold. From June, however, the effects of halving will be visible and the price will go up. The magnitude of this jump depends on many factors, one of which is the macroeconomic situation. We also know that the effect of halving on the price is often time-consuming. So, we may need to be a bit more patient to see new highs.
What is your prediction for Bitcoin price at the end of June?
Kelly’s answer: Somewhere between $50,000 and $60,000.
Christos Makridis, Research Associate Professor at University of Arizona and CEO of Dynamic AI:
The approval of cash ETFs is a step that will affect the price of Bitcoin this year, and even beyond, for other digital assets. Apart from the growing recognition and adoption of digital assets among institutions, we are likely to continue to see a further decline in the level of political and economic confidence in the world. Historically at least, there has been a significant negative correlation between declining levels of political and economic confidence and the price of Bitcoin and Ethereum, and this issue is expected to intensify during the 2024 US presidential election. Movement is expected [صعودی] The current trend of digital currencies continues and people look at them as a haven in the middle of an unknown situation and numerous decisions of the central bank and the government, which will further increase the prices.
Bitcoin price on June 30?
I will not be surprised if the price of Bitcoin is above $50,000.
Ray Salmond, Director of Markets at CoinTelegraph:
The long-term trend of Bitcoin price is expected to be influenced by the volume and continuity of capital inflows into cash ETFs as well as related reports at the end of the first and second quarters of 2024.
It will be interesting to see how each institution positions its portfolio to invest in Bitcoin and what types of microfinance customers and products will emerge in the coming year. For the short-term, attention will likely turn back to the Bitcoin halving in April and its historical impact on price.
Personally, I expect the price to fluctuate between $50,000 and $56,000 for the next 2 months or so. Finally, the $58,000 level will become a support, and the strengthening of the market’s bullishness with the occurrence of the halving will also be great.
What will be the price of Bitcoin on June 30?
Between $55,500 and $69,420, but there are many factors that cannot be taken into account now but are likely to happen.
Daniele Sarvadei, CEO and founder of Sellix:
Bitcoin’s crossing of $100,000 is inevitable due to the influx of retail investors into the market. The approval of cash ETFs is a big deal for Bitcoin. Not only because it simplifies the investment process and eliminates the need to use digital currency exchanges, but also because it is a giant leap toward mainstream adoption of these assets and legal clarity in the United States (Ethereum, on the other hand, may At this point, it does not reflect the growth of Bitcoin).
Bitcoin price on June 30?
$140,000.
Rudy Takala, Cointelegraph Secretary:
Bitcoin peaked at $49,000 with the launch of cash ETFs. Now, after forming a bottom ($41,500) after the ETFs have started, I expect to see volatility in a more limited area until the price breaks. That is, entering short (sell) positions after the price reaches the ceiling of this area will probably be a safe move for a while (before the breakdown); Especially if the enthusiasm of the market is extended to Ethereum.
In 2020, when the previous halving occurred, the price of Bitcoin increased by 500% and doubled in 2021. Repeating this pattern could put the price of Bitcoin somewhere above $200,000 by the end of the year. This happens now and considering the difference between the current value of the Bitcoin market and 2020, it seems illogical. However, 2024 seems to be a bullish year.
How much do you predict the price of Bitcoin for June 30?
Above $47,000.
J. W. Verrett, associate professor at George Mason University School of Law.
My opinion is that Bitcoin should be viewed as a long-term investment of 5 to 20 years, and for this reason, from the ruleBuy with rumors and sell with newsI do not follow. In this multi-year horizon, the famous meme “Leap to the moonIt is a reasonable statement. In the short term, however, I don’t have any real-world Bitcoin usage statistics to analyze, and there aren’t many right now. Short-term price forecasts are just a guess as to how many traders are going to enter the market and are not based on new information.
For the long term, I believe that the US dollar has no future, that artificial intelligence prefers decentralized currencies, and that the use of digital currencies to pay the wages of remote workers will become more common. Bitcoin is currently the best bet for the future.
Bitcoin price on June 30?
If I had to say my own estimate, during US tax filing season (January 29th to April 15th) we will see the typical sell-off in part of the market and a temporary drop in price, and then the price will move towards $50,000 as the uptrend resumes. will do.