Bitcoin Price Predictions: A Closer Look at the Most Recent Forecasts
As we move into 2024, market observers are already looking into the future to determine just how high BTC/USD can go. With Bitcoin having finally crossed the $100,000 mark for the first time on Dec. 5, and reaching all-time highs of $103,800 in the process, the question on everyone’s mind is: what’s next?
ARK Invest: A Minimum Threshold of $124,000
Asset management giant ARK Invest has been a consistent voice of bullish sentiment when it comes to Bitcoin price research. In their latest blog post, originally released in mid-November, researchers Puell Multiple creator David Puell and his team gave a minimum threshold of $124,000 for BTC/USD.
According to their thesis, if Bitcoin were to match the general historical average or the average of all halving years at December’s end, its 2024 performance multiple could hit between 2.48x and 2.94x, potentially reaching between ~$104,000 and ~$124,000. ARK specifically highlighted the wave of institutional demand for Bitcoin, which has become a calling card this year.
The Role of Institutional Demand
Institutional demand has been a key driver of Bitcoin’s price increase in recent months. With more institutions investing in cryptocurrency, it’s likely that we’ll see continued momentum throughout 2025.
As ARK Invest noted:
"Bottom line, if institutions continue to gravitate toward this new asset class, and the US government seriously contemplates adding bitcoin to its strategic reserves, we anticipate a strong close to 2024 and continued momentum during 2025."
Bitcoin Yearly Cycles Data
David Puell’s work on Bitcoin yearly cycles data has been instrumental in shaping the current price predictions. In an X post on Dec. 5, he noted that Bitcoin has now met the lower boundary of its target range.
With this in mind, let’s take a closer look at some of the most recent popular BTC price predictions for the end of 2024 and beyond:
Traders Eye Levels Toward $140,000
Popular crypto traders are also not without optimism when it comes to BTC’s price going higher. Among them is Jelle, who now sees $130,000 as a potential next stop.
A chart uploaded to X on Dec. 5 shows BTC/USD breaking out of a bullish pennant, which it entered in early November. According to Jelle:
"This bullish pennant has a target of $130,000… Breakout confirmed – send it higher."
Fellow Trader Aksel Kibar’s Prediction
Fellow trader Aksel Kibar previously suggested that $137,000 would form Bitcoin’s next long-term top – in contrast to $100,000, which he dismissed as neither psychologically nor technically significant.
Prediction Markets See a ‘Breakout Rally’
When it comes to crowd consensus, Bitcoin is likewise tipped to keep climbing. According to data from prediction service Kalshi, the aggregate BTC price target for the end of 2024 is a cool $128,000.
As trading resource The Kobeissi Letter noted:
"There is now even a 10% chance of Bitcoin crossing above $150,000 by the end of this year… Prediction markets think this is a breakout rally."
Polymarket’s View: A 2% Chance of $250,000
While some prediction services are tipping sky-high numbers, fellow prediction service Polymarket sees only a 2% chance of Bitcoin trading at $250,000.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Conclusion
As we look to the future, it’s clear that market observers are optimistic about Bitcoin’s price potential. With institutional demand on the rise and prediction markets tipping a ‘breakout rally,’ it’s likely that we’ll see continued momentum throughout 2025.
While some predictions may seem lofty, it’s essential to remember that every investment and trading move involves risk. Conduct your own research, stay informed, and make decisions based on your individual circumstances.
Additional Resources
- Explore more articles like this
- Subscribe to the Markets Outlook newsletter
- Get critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies. Delivered every Monday
Subscribe by subscribing, you agree to our Terms of Services and Privacy Policy
