3 Bitcoin price predictions call for new all-time highs and more in 2024

Bitcoin (BTC) Market Participants See BTC Price Easily Hit New All-Time Highs After Subsidy Halves – How High Will They Go?

With BTC/USD stuck in a strong trading zone for more than 150 days, speculation about a halving in price is growing.

Around April 18th, the newly minted supply of Bitcoin will drop 50% per block, leaving any buyers scrambling for the dwindling asset.

With the proposed buying pressure from the newly launched Bitcoin Exchange Traded Funds (ETFs) in the United States, the level could be set for another supply crunch.

This is the leading theory behind the 2024 BTC price move, which makes new all-time highs look modest.

130,000 dollars the year before

The timing of Bitcoin's price recovery varies greatly among popular predictions.

But for trader Alan Tardigrade, the focus is on $130,000 – nearly double the current all-time high – hitting before the end of 2024.

A chart crossing to X on February 6 revealed a cup and handle pattern that played out on the weekly chart.

“What If Bitcoin Breaks This Cup With Handle Pattern In Half A Day (2 Months Later)?” he suggested.

“The target for this pattern is $130k. In other words, it's your last chance to stock up in these 2 months before sending over a hundred thousand.

As Cointelegraph reports in 2023, several BTC price models see a rally to $130,000 as an upside destination — though their horizons are wide and they expect it to arrive by the end of 2025.

$280,000 later?

Those willing to wait longer for the top of the cycle may be in for a wild ride.

For Charles Edwards, founder of quantitative bitcoin and digital asset fund Capriole Investments, the path is to generate more than a quarter of a million dollars per coin by 2025.

“If Bitcoin post half returns are the same as 2020, we're looking at $280k worth of Bitcoin next year,” he told X followers.

Edwards touched on a common narrative involving Bitcoin's four-year price cycles. This states that each successive cycle peak will be less extreme than the last.

In his eyes, however, even the crash of 2020 – which took BTC/USD from $10,000 in September to $58,000 seven months later – did not show Bitcoin's full power.

“You could reasonably argue that the returns for this cycle are below 2020,” X's post continued.

“However, I believe the performance of the 2020 cycle was moderate and outliers.”

In an interview with Cointelegraph in February 2023, Edwards described the upcoming halving as “very important.”

“It's worth noting that none of the previous halves were priced out, so I expect the 100% returns to continue here,” he said at the time.

There's no time left until the $64,000 runs out.

Some of the boldest BTC price trends include all-time high prices that coincide with the halving.

Related: Bitcoin Buyers Far From $25K Target As BTC Price Sets New February High

While some believe Bitcoin will continue to slide from current levels to the event, renowned investor Fred Krueger sees a price reversal coming sooner than many expect.

In a Feb. 4 X post, Kruger issued a “case for ATH over the next 30 to 60 days.”

This, as Cointelegraph reports, is based on ETF activity, as the newly launched US dot products attract more capital.

“There are 20 to 40 trading sessions in the next 30 to 60 days. I estimate this will generate $4 to $6 billion in new revenue,” he predicted.

“At a market cap of 850 billion, this would *capture 50% of the market or about 64K. It's basically at an all-time high. “

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.