What value will Bitcoin reach, the future of the value of a cryptocurrency is an unknown, and this is due to the volatility of the market. Whether we are talking about the period of Bull Market or Bear Market, Bitcoin price fluctuations are present and pass the cryptocurrency through "highs" and "lows". By translation, the "high" and "lows" represent the limits at which the price of cryptocurrency reaches in a period of time. The graphs with these points are analyzed by investors to try to predict Bitcoin value in the next period.
Currently, Bitcoin has a value of about 57 thousand EUR. Is at a very good point. Especially if the comparison is made with the same period last year when it was worth somewhere at 24 thousand EUR. From the end of last year, until the spring of this year Bitcoin has grown almost continuously. In some instances with small price oscillations. The peak of this period was on March 13 when a bitcoin was bought for about 65 thousand EUR, setting a record in the history of the currency.
Although the price of bitcoin is high, the future remains uncertain. The careful analysis of the following period is very important. The last quarter of the year can provide clues about the market trend in the following year. Also, in the next period, traditional markets make their balance sheets, which can influence the cryptocurrency market.
All this data raises questions and creates speculation about the value of Bitcoin in the following period.
What value will Bitcoin reach at the end of 2024?
In order to have a better understanding of the future, we must first study the past. Identifying different patterns in market fluctuations can reveal details announcing a next trend.
Analysis from last years of conversion Bitcoin Euro
After two years in which the months of September and October brought bad news for Bitcoin price, this year cryptocurrencies made a deviation from the so-called rule. The minimum of the period is 48 thousand EUR on September 7, and since then the price is in an upward trend. It is very important to note that these analyzes and comparisons with the past are only to try to predict the Bitcoin route, because the price can be impossible to determine exactly.
For example, in the autumn of 2021, Bitcoin reached a value of 56 thousand EUR, after which he entered a period of decline that stopped only after a year. Therefore, the graphs show us that after a "bullish" autumn (which indicates) a climb of Bitcoin value, cryptocurrency can continue to ascend and begin its descent.
Although the end of the year is known to be volatile, it sets the trend for the next period. If we follow the graphs of the past years we can see this "pattern".
Factors that influenced the value of Bitcoin in 2024
The global economic context
Against the background of inflation, Bitcoin has become a good asset in which investors keep their resources. Being a decentralized network, Bitcoin blockchain is not affected by global economic policies and the risk of inflation. Therefore stability in the cryptocurrency market is higher when the instability is high in the traditional market. Another reason Bitcoin gives more confidence for investors is the fluctuation of rates.
Bitcoin Halving or Half Bitcoin
"Half" or Halving refers to a process that runs about 4 years. The actual action is to reduce the reward that the miners receive to validate the transactions and add them in the blockchain. In 2024 it was reduced from 6.25 BTC to 3,125 BTC - that is, half, hence the term "having".
By this method, the quantity of the coins that enter the market, practically, with each transaction, is reduced. Thus, the offer is reduced, and the ratio between demand and offer is balanced. However, the process of "halving" is associated with an increase in cryptocurrency price. The association is based on concrete data, because we have the impact from previous halves as follows:
- After the 2012 Halving, Bitcoin increased by more than 8.500%;
- In 2016 the process is repeated, and as a result, Bitcoin reaches for the first time in history at the threshold of 20 thousand USD;
- The penultimate Halving, the 2020, helps Bitcoin to reach a new maximum, but this is only in 2021;
Forecasts and scenarios for the end of 2024
The debate of the scenarios for the following year is in all, as every year, during this period. There are a lot of data and models on the graphs and then we can try to get the cryptocurrency. However, the emphasis must be on the word "we intuition", because we cannot know what will happen. This uncertainty about the future creates two camps between investors and analysts: the optimistic and the pessimistic.
The optimistic forecast - the Bitcoin Euro course will reach a new historical value
A well-known analyst of the crypto market that acts under the pseudonym "Pilb" has expressed optimism about the future of Bitcoin.
Why is his important opinion? Due to the analysis model he developed. Pierb proposed a forecast model called S2F (stack-to-flow), which predicts cryptocurrency in rarity. The current stock (stock) is divided by the annual bitcoin offer in the market. Based on this model and due to the having process, it is estimated that the price of Bitcoin will increase, leading to new records. Both the plane and various forecasts made by Machine Learning speculate that the price of Bitcoin could pass 90 thousand EUR until the end of the year.
The pessimistic forecast - Bitcoin will know a period "Bearish"
This variant is closely related to the global economy. If it will enter a recession, which is not impossible, then the price could know a decrease based on the distrust of investors. In this context, the entire CRITPO market will decrease with Bitcoin price.
The basic idea of the pessimistic forecast is that if something is bad in the world, for example aggressive regulations against cryptocurrency or recession, then the market will follow the trend.
It is clear to everyone that the price of Bitcoin will take it either up or down. Important is which part of the barricade you are located - the optimistic or pessimistic one. However, one thing is certain, regardless of the situation you can trade to make a profit. Choose Abarai , an exchange platform with an amazing transaction speed, which is at the confidentiality of users.
