Bitcoin is on track to hit $100,000 according to executives in the cryptocurrency industry. With a growing number of voices calling for fresh all-time highs for Bitcoin in 2024, optimism is high. The digital currency has already rallied over 120% this year, and many believe the surge will continue into 2024.
Despite recent issues in the crypto industry, such as the collapse of coins and projects, executives see these cases as a line being drawn under past problems. The industry is now focused on positive developments, including the potential approval of a bitcoin exchange-traded fund (ETF).
This could attract larger traditional investors who were previously hesitant to enter the crypto market. Another development is the bitcoin halving scheduled for May 2024, which often leads to a new rally. The next halving is expected to occur on April 24, 2024, and the current block height is less than 6 months away from it.
Some experts have made bold predictions, with Standard Chartered projecting bitcoin to hit $100,000 by the end of 2024, and Matrixport projecting prices of $63,140 by April 2024 and $125,000 by the end of next year.