Bitcoin 2024: Boom or bust? Experts weigh in

The year has been amazing for the crypto market, especially for industry leaders like BTC. Crypto broke the long slump and eventually hit its all-time high.

Bitcoin is currently going through a correction phase and trading around the 59,500-dollar mark. With the fourth BTC halving event upcoming, the coin can undergo unforeseen changes. That is why leading analysts, crypto experts, and enthusiasts are weighing in on the BTC price predictions. Let’s take a look at what the analysts are expecting.

PlanB’s Bitcoin Prediction: $100,000 by Year-End

Prominent names like PlanB, the well-known analysts, are in the Bitcoin Boom segment. Known for the Stock-to-Flow model, the analyst has garnered massive respect in the industry. 

Based on BTC’s limited supply and historical analysis of halving, PlanB believes that the crypto will boom in the coming months. The analyst has deployed this model before to make accurate price predictions. 

With a bold statement, PlanB foresees Bitcoin to hit $100,000 before 2024 ends.

CryptoNewsZ’s Bitcoin Prediction: $100,000 by Year-End

CryptoNewsZ, a respected crypto news platform, also agrees with PlanB’s estimates. The platform echoes the Bitcoin prediction with the overall market sentiment and narrative supporting BTC. In addition, Bitcoin will leverage the supply limitations to its advantage.

Peter Schiff’s BTC Forecast: Downside Target $54,000

The market also boasts analysts who do not side with the BTC boom sentiment. Peter Schiff, a renowned economist and an outspoken BTC critic, has shown skepticism surrounding the crypto’s long-term performance.

Schiff has been downplaying BTC’s potential for a while. The economist maintains his stance on Bitcoin being a bubble, expecting the crypto to sit at $54,000 before 2024 ends. The economist believes that Bitcoin lacks intrinsic value and will lose momentum shortly.

Conclusion

Given the inherent volatile nature of cryptocurrencies, estimating their performance can be challenging.

That is why the market is split between experts making polarizing predictions surrounding Bitcoin. While experts like CryptoNewsZ and PlanB see the crypto hitting $100k, economists like Peter Schiff expect BTC to stay at $54k at 2024’s end.

It is crucial to note that mere market sentiment and halving hype are insufficient to determine BTC’s future. Cryptocurrencies have to rely on factors like government regulation, institutional adoption, technological changes, and global economic conditions.

Extensive market research suggests that most buyers make the right choice. Buyers should also understand their risk appetite before making the final call. The crypto market is run by several factors, making it crucial to consider every valuable insight.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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