TL;DR
- Robert Kiyosaki, Tom Lee of Fundstrat and “PlanB” made optimistic predictions for the future price of Bitcoin.
- Contrasting views come from analysts such as Philakone and Crypto Rover, who foresee a possible short-term correction, and from Peter Schiff, who expects regulatory challenges to impact the value of BTC.
Kiyosaki's prediction
The first few days of 2024 saw a significant increase in the price of Bitcoin, peaking at around $49,000 a day after the US Securities and Exchange Commission (SEC) approved several spot BTC ETFs (including BlackRock's filing). was achieved. However, the asset has been in a downward trend since then and eventually stopped at its current level of $41,300 (according to data from CoinGecko).
It would be interesting to track BTC price action in 2024 (which has many other important events in store), so we are watching some bullish predictions.
Robert Kiyosaki – a well-known investor and author of the bestselling book “Rich Dad Poor Dad” – recently predicted that the most important cryptocurrency is heading towards the $150,000 mark. He also plans to buy BTC, gold and silver with “fake fiat US dollars.”
Before that, Kiyosaki urged People should pay close attention to what is coming Bitcoin halving (scheduled for April 2024). The event takes place every four years and halves miners' rewards. This leads to reduced supply growth, which could trigger a rise in the price of BTC (assuming demand remains the same or increases). Historically, halvings have been followed by record-breaking bull runs.
The ultimate cops
Fundstrat's Tom Lee and popular X (Twitter) user “PlanB” have made even more optimistic bets. The previous presented that BTC could rise to $100,000 to $150,000 in 2024 and reach $500,000 within five years. PlanB claimed that the stock-to-flow model predicts a price of $532,000 after the halving.
“In 2019, when BTC was $4,000, I wrote the S2F article calling for $55,000 BTC. People said I was crazy. Today, BTC is at $40,000 and the S2F model predicts $532,000 after the halving in 2024. People say it’s impossible,” the analyst said.
The most shocking prediction came from Samson Mow (CEO of the development studio Pixelmatic). believes that sooner or later the price of Bitcoin would reach the astounding $1 million per coin.
Anyone curious about whether BTC is capable of reaching a new all-time high in 2024 can watch our video below:
Enter bears
On the other hand, the X-user Philakone thinks BTC could undergo a correction in the coming months and set a target between $37,000 and $34,000 “sometime between March and June.” However, in the long term, the trader remains optimistic and expects “a strong accumulation phase” that will lead to a bull market from the third quarter of 2024 to the fourth quarter of 2025.
Crypto Rover recommended There is a huge amount of “unused liquidity” that could cause BTC to fall below $40,000. Similar to Philakone, he believes the asset will thrive in the long term.
One person who only expects Bitcoin to lose value is Peter Schiff. The economist who has recently been one of the harshest critics of the cryptocurrency claims that Gary Gensler (Chairman of the US SEC) approved the spot ETFs after being “cornered”.
Therefore, Schiff believes that the head of the regulator could soon introduce “new onerous crypto regulations” that could increase the cost of BTC transactions and negatively impact the asset’s price. Meanwhile, numerous X users rejected the theory, recalling that Gensler had done this before given Bitcoin receives the status of a commodity and thus escapes the jurisdiction of the SEC.
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