Bitcoin: A Dynamic That Shakes Up Forecasts

If 2023 has been an exceptional year, 2024 promises an even more spectacular rise in the Bitcoin price.

Markets are now anticipating a rapid surge in the Bitcoin price, but the realities of the market are putting a final brake on the enthusiasm. Behind the scenes, a battle is brewing between ETFs and long-term investors, threatening to disrupt the rising tide.

Bitcoin price: A dynamic that shakes up forecasts

If 2023 was an exceptional year, 2024 promises to be even more spectacular in terms of the Bitcoin price. According to Kalshi data, BTC has an 85% chance of reaching $100,000 by the end of the year. And that's not all: 9% of analysts predict a Bitcoin flirting with $150,000, while a few optimists bet on a frenzy at $250,000.

Several signals seem to converge to support these forecasts:

Bitcoin ETFs, which are attracting record volumes, are at the heart of the game. Data shows a historic week with inflows exceeding $100 billion in assets under management. However, this is not enough to calm the ardor of old investors, ready to cash in after years of waiting.

As summarized by the Kobeissi Letter, “the markets are already pricing in an explosion towards $100,000,” and the current figures verge on the irrational. But this euphoria rests on a fragile balance: old HODLers, attracted by monstrous profits, could slow progress with massive sales.

Crypto investors: Between hope and temptation to take profits

Glassnode observes that unrealized gains are reaching critical peaks, and a correction would even be healthy to stabilize the poor market. However, another factor comes into play: fierce competition between institutions and individuals. The latter, galvanized by opportunities, fear massive profit-taking that could crush the current momentum.

“History often repeats itself, but never in the same way,” experts say. The bullish momentum remains the strongest in a long time, but avoiding overheating will be necessary to see 2025 crown a historic bull run.

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose