Bitcoin is currently up by 2.90% in the last 24 hours, trading at $43,377.62 while the article is being drafted. The jump has sparked interest and optimism among crypto enthusiasts. Most of the analysts have come forward to say that more ups are on the way, quoting the possibility of a new ATH valuation.
For reference, BTC was earlier being traded at a mark of less than $40,000. It has been less than 10 days, and many investors are beginning to see results for their investments.
Bitcoin Boom or Bubble? $220k by Year-End?
Analysts now speculate that the token could hit $50,000 this week and then head over to register $220,000 by the end of 2024. While the $50k milestone is a doable target, it is right to assume that the $220,000 milestone is a far-fetched dream. Bitcoin touched its ATH in 2021 and has been falling since then. The current rise is a big jump and a commendable recovery from recent bearish sentiments.
Bitcoin Eyes ATH in Q1: $220k Dream or Reality?
Max Keiser has said they expect BTC to attain a new ATH in the first quarter of 2024. This is based on the grounds that the token would hit $50,000 by the time this week ends. They have further ignited hopes for the token to surpass the $200k margin. Max’s prediction for Bitcoin came in the wake of selling pressure being eased out and hindrances from Wall Street being eliminated.
Without a doubt, this is a prediction that has the potential to be accurate or inaccurate. Prices of Bitcoin and other cryptocurrencies are subject to a multitude of influences, such as macroeconomic conditions, market sentiments, and regulatory developments. The legitimate status granted to the Bitcoin ETF through clearance has enabled institutional and retail investors to investigate avenues for portfolio diversification. The accomplishments above of the dominant token remain uncertain.
$170k After Halving? Scaramucci Defies Predictions
Anthony Scaramucci, the Founder & Managing Partner of Skybridge Capital, has said they expect BTC to hit at least $170,000 after halving. The process is tentatively scheduled to happen in April, cutting short the supply of the tokens. That would create scarcity and an uptick in the price. BTC predictions, in general, estimate that the token could touch $65,000 by the end of this year. The circumstances cited by Anthony and Max would defy general predictions with no hesitation.
That said, Bitcoin is also being contested against Gold regarding market capitalization. Anthony believes the token may break even at $400,000 to reach 50% of what gold offers.
ETH and SOL, other dominating tokens, are up by 1.79% and 6.59%, respectively, in the last 24 hours. Both tokens are currently exchanging hands at $2,305.19 and $102.73, prices applicable in the same order.