Bitcoin forecast is less optimistic than it was at the beginning of the year, with the potential for the type of bull market pullback that we often see around the quadrennial Bitcoin “halving” of new supply. Here are the latest Bitcoin forecast and price predictions for 2024 and beyond.
Bitcoin spot price (BTC/USD) surged nearly 75%, from $42,283 to new record highs above $73K in Q1, bolstered by 11-figure inflows into US ETFs, the much-anticipated halving that occurred on April 19, and expectations of Fed interest rate cuts.
The bitcoin halving may best be viewed as a symbolic event more than anything else, as it illustrates bitcoin's value proposition on the backdrop of relatively high inflation rates.
Despite the recent block reward halving, only the profitability of Bitcoin miners with less efficient mining rigs is endangered. As unprofitable bitcoin miners exit the bitcoin network, analysts anticipate a significant drop in the hashrate and consolidation among bitcoin miners with a highest share for publicly-listed bitcoin miners.
And despite recent drawdown, leading financial institutions remain bullish on Bitcoin’s future on the long run. However, before going out and loading up on Bitcoin in your portfolio, it's a good idea not to forget that this is still a very volatile asset. This article aims to address all the queries related to Bitcoin price prediction for 2024 and beyond, including fundamental and technical updates.
Summary of Bitcoin Forecast & Price Predictions
- Bitcoin price prediction today: With 40-60% drops around the last two halving events, and with sentiment running high ahead of this year’s halving, another such drawdown could be on the cards, towards the previous low range of $60,770-$62,260 in the first phase.
- Bitcoin price prediction 2024: The popular opinion among institutional and individual experts seems to be that Bitcoin is bound to break its record price of 73,000 and target $80,000 by the end of the year. However, JP Morgan warns the market is still in overbought conditions at $60,000, with its projected production cost of $42,000 after the halving.
- Bitcoin price prediction 2025-2030: most analysts point out that crypto investors will shift focus from speculative trading to the development and adoption of blockchains and applications powered by tokens with utility and cash flows, to trade well above $100,000 in the next 5 years.
With CAPEX.com you can trade CFDs on Bitcoin spot and Bitcoin futures and buy shares in the first Bitcoin ETF.
Bitcoin Forecast 2024 - What’s next after the halving?
Previous bitcoin halvings have caused the price of bitcoin to rise to all-time highs in the months that follow the events. This time, though, is unique since in the months before the halving, the price of bitcoin already hit a new all-time high. The spot bitcoin exchange-traded funds (ETF) drove a large portion of the current rise, which may indicate that market demand influences bitcoin prices more than halving occurrences.
According to the popular crypto exchange Kraken, there is a degree of additional symbolism associated with this halving in terms of the illustration of bitcoin's apolitical, unwavering monetary policy at a time when many people around the world are having questions about their own currencies.
However, analysts at JPMorgan and Deutsche Bank said that the impact of this halving was mostly baked into the current bitcoin prices and forecast there isn't likely to be a large upward movement in the price in its aftermath.
Bitcoin hash rate dips as miners turn off unprofitable ASICs post-halving
Bitcoin’s hash rate saw a decline as Bitcoin mining firms have started turning off unprofitable mining rigs after the fourth Bitcoin halving. According to data from Blockchain.com, the hash rate of the Bitcoin network dropped to a two-month low of 575 exahash per second (EH/s) on May 10 before somewhat recovering to the current 586 EH/s.
CoinShares stated that miners are beginning to turn off unprofitable rigs as the reason for the decline in hash rates. Their model forecasts the Bitcoin hash rate rising to 700 exahash by 2025, although after the halving, it could fall by up to 10% as miners turn off unprofitable ASICs.
The temporary reduction is attributed to the increased costs of Bitcoin mining due to the halving, along with rising electricity costs.
Infrastructure and energy costs remain key for BTC mining profitability
According to TeraWulf, the world’s eighth-largest Bitcoin mining company, worth over $670 million, only smaller mining operations with less energy-efficient equipment will be endangered after the 2024 halving.
However, the profitability of mining operations largely depends on the cost of electricity the companies are paying. The S19 XP and M50S++, two of the older ASIC models, operate at a loss with electricity costs above $0.0 per kilowatt-hour, according to Hashrate Index.
According to JP Morgan, some bitcoin mining firms may look to diversify into low energy cost regions such as Latin America or Africa to deploy their inefficient mining rigs to gain salvage values from those rigs which would otherwise sit idle.
Bitcoin Forecast - Latest Developments
The SEC's possible approval of spot Ethereum ETFs, FTX's pledge to reimburse clients, and international regulatory changes highlight how the cryptocurrency market is changing. Positive attitude in the market is influenced by institutional and regulatory improvements.
Globally as well as in the United States, there have been notable developments in the cryptocurrency and digital asset markets. The world of cryptocurrency is changing; examples include Germany's big bitcoin seizure, the Bank of England's investigation into a digital pound, and EU MiCA regulatory rules.
According to Coinbase's latest Bitcoin forecast for Q2 2024, strong ETF flows and stabilised CME OI for Bitcoin are supported by a favourable market sentiment. Still, there are concerns about Ethereum's declining popularity. An optimistic market view is suggested by traders' growing comfort level with extended exposure to cryptocurrencies. Based on these patterns, Coinbase forecast Bitcoin’s Q2 2024 will be a prosperous quarter.
Bitcoin Forecast - Market Sentiment
About a dozen investment companies, including the giant investment managers Blackrock and Fidelity, have been waiting for months for the US Securities and Exchange Commission (SEC) to give them the green light to start buying Bitcoin for their ETFs. And after months of wrangling over wording, the first have now been given the nod, on January 10, 2024.
These ETFs have two main impacts: increased distribution in the US and increased credibility of crypto as an ‘asset class’. With the newly approved ETFs, bitcoin is no longer considered shady or infamous. This significantly changes the perception of the mainstream public. It also means that bitcoin could start appearing in mainstream portfolios, where many more retail investors can gain exposure.
Big institutional fund managers can add it to their investment funds. Additionally, a new group of investors can now enter the speculative world of Bitcoin, without having to worry about getting digital wallets or navigating crypto exchanges.
Recent trends indicate a shift in focus from technical pressures to macroeconomic factors. Large liquidations, such as FTX’s move to dispose of Grayscale Bitcoin Trust shares, coincide with increased net inflows into US spot Bitcoin ETFs, averaging over $200 million daily, according to Coinbase. This surge in ETF activity, totaling $1.46 billion since January 11, suggests a growing market sentiment favoring digital assets.
Bitcoin Forecast – Technical Analysis
After attempting to breach the critical resistance at $47-48K, Bitcoin encountered substantial selling pressure, resulting in a notable rejection and a drop to the $41K level. However, the cryptocurrency currently seems likely to undergo a brief consolidation before embarking on its next significant move.
Short-Term Bitcoin Forecast - Bearish
Bitcoin is in a bearish trend channel in the short term (daily chart). The price reached 60766 after the confirmation of the double top formation in March. The price has risen again, but the chart pattern indicates a further continuation within the descendent channel.
The leading cryptocurrency is testing resistance at 62000 points. This could give a negative reaction, but a breakout is a positive signal. Volume corresponds with tops and bottoms in the price and confirms the trend. The short-term technical Bitcoin forecast is bearish.
Medium to Long-Term Bitcoin Forecast - Bullish
Bitcoin is in a rising trend channel in the medium long term (weekly chart). Rising trends indicate that the cryptocurrency is experiencing positive development and that buy interest among investors is increasing. The currency has the first support at $60,000 (23.8% Fibonacci retracement), the second support at around 50.000-51.000 (38.2%) and the last one around $44.000, while the resistance is $73000.
The medium-term Bitcoin forecast is bullish even if the correction will extend within the bearish channel towards the $44.000 area. The uptrend will remain intact.
Bitcoin Forecast Q2 2024 - Key Indicators
Ahr999 index: At 1.59 as the beginning of April, indicating a non-investment BTC range. A reading below 0.45 suggests a potential bottoming out, while 0.45 to 1.2 indicates a good time for regular bitcoin investments.
BTC rainbow chart: The above price of BTC falls within the "consider dollar-cost averaging range," with the long term potential for a rise to $150,000.
PI cycle top indicator: 111-day moving average (DMA) at $51,856 and DMAx2 at $73,848, suggesting no short-term bubble.
Top escape index (2-year MA multiplier): The price of the green line is $30,078, and the price of the red line is $150,391, positioning BTC in the middle.
Bitcoin Price Predictions 2024
This bullish outlook is rooted in factors like Bitcoin’s historical dominance, the anticipated increase in adoption following the Bitcoin Halving, and the expected influx of capital from new spot Bitcoin ETFs, which are creating a lot of excitement among experts. However, it's crucial to keep in mind that many crypto experts are perpetual optimists, especially when it comes to wider adoption of the technology.
Institutional Bitcoin Price Predictions 2024
These institutional Bitcoin price predictions vividly depict the potential trajectory in 2024. Despite varying specifics, they collectively underscore a shared optimism about Bitcoin’s future.
Bitcoin price prediction from JP Morgan - $45K
JP Morgan analysts predict Bitcoin (BTC) could reach $45,000 in 2024. The bank sees downside for the world’s largest cryptocurrency after the halving because the market is still in overbought conditions, according to its analysis of open interest in bitcoin futures.
Furthermore, the cryptocurrency price of about $61,200 is still above the bank’s volatility-adjusted comparison with gold, which sets it at $45,000, and its projected production cost of $42,000 after the halving. The bitcoin production cost has historically acted as a lower boundary for BTC prices.
Bitcoin price prediction from Berenberg - $56.6K
The investment bank Berenberg has updated its forecast for Bitcoin, setting a target of $56,630 for April 2024. This revised Bitcoin price prediction is shaped by the anticipated 2024 Bitcoin halving event, which is expected to impact the supply dynamics significantly and increase interest from institutional investors. Berenberg’s projection reflects a cautious yet optimistic outlook on Bitcoin’s future.
Bitcoin price prediction from VanEck – above $69k
Global investment fund VanEck has made predictions for 2024, suggesting that bitcoin could reach new all-time highs by Q4 2024. This prediction is driven by factors such as the US election, the supply shock caused by the halving, and regulatory shifts that could make the crypto commodity as easy to own and account for as regular stock.
Bitcoin price prediction for WOOX - $80.000 in Q2 2024
BTC remains within a large oscillation range of $62,000- $71,800. External factors such as wars often influence short-term supply and expectations of BTC. If these factors fail to escalate, BTC is likely to maintain its oscillatory pattern. However, if it can effectively stabilize above $71,800, it may surge towards $80,000. Therefore, for now, they maintain the forecast of Bitcoin (BTC) rising to $80,000 in Q2, while cautiously monitoring off-market news for potential impacts on BTC prices.
Bitcoin price prediction from ETC Group - Slightly Above $100,000
ETC Group, another player in the financial system, forecasted Bitcoin to slightly exceed $100,000. Its bullish Bitcoin price prediction considered various on-chain metrics, such as the dwindling supply of Bitcoin on exchanges and the increase in long-term holdings, which suggest a tightening market that could drive up prices. These on-chain metrics imply that both liquid supply on exchanges is relatively scarce and that there is a lot of ‘dry powder’ in terms of supply distribution during the next bull cycle.
Bitcoin price prediction from Standard Chartered - $120K
Standard Chartered has revised its Bitcoin price forecast, now estimating it will escalate to $120,000 by the end of 2024. This projection represents an upward revision from the bank’s earlier forecast, which anticipated Bitcoin reaching a value of $100,000 by the conclusion of 2024, showcasing an increasingly optimistic view of Bitcoin’s market potential in the next few years.
Bitcoin price prediction from Fundstrat - $180K
Fundstrat, a prominent research firm, has set an ambitious target for Bitcoin, predicting it could soar after the launch of a Bitcoin ETF to $180,000 by its 2024 halving. Fundstrat’s projection reflects a bullish stance on Bitcoin’s future, buoyed by these significant market developments and anticipated changes in the cryptocurrency landscape.
Individual Bitcoin Price Predictions 2024
What will Bitcoin be worth in 2024? There are some bolder Bitcoin price predictions being made by investors, analysts, and industry leaders.
Bitcoin price prediction from Arthur Hayes (CEO of BitMEX) - $70K
BitMEX’s founder, Arthur Hayes, forecasted Bitcoin potentially reaching $70,000 by 2024 amid a more conservative short-term outlook. He underscored the importance of Bitcoin’s capped supply at 21 million coins, which he believes will fuel demand. Additionally, Hayes anticipates a bullish trend across all asset markets, influenced by central bank policies.
Bitcoin price prediction from Messari - Parity with Gold
Messari, a notable name in crypto analytics, predicted a Bitcoin value exceeding $600,000. Its analysis underscored Bitcoin’s resilience and dominance in the cryptocurrency market, citing its ability to lead recoveries and overshadow other digital currencies. Bitcoin dominance shrank from 87% to 37% in 2017. It reclaimed 70% during its consolidation phase and went up to $40,000 in 2021 before dropping to 38% at the height of the bubble. We just tapped 54%. There’s still room to consolidate, analysts at Messari argued.
Bitcoin price prediction from Tim Draper (Billionaire Investor) - $250K
Billionaire investor Tim Draper, known for his early advocacy of cryptocurrency, has adjusted his Bitcoin price prediction. Initially, Draper forecasted that Bitcoin would reach $250,000 by June 2023. However, he recently acknowledged that this target might be delayed until 2025, attributing the postponement to unexpected aggressive enforcement actions by the U.S. government, particularly the SEC, against crypto companies.
Draper remains optimistic about Bitcoin’s value and underlying technology, envisioning a future where financial transactions and operations are conducted entirely in Bitcoin, leveraging blockchain’s transparency and efficiency.
Bitcoin price prediction from Cathie Wood (CEO of Ark Invest) - $600K
Cathie Wood of ARK Invest predicts Bitcoin could reach $650,000 in 2024, with her optimism spawning from a potential spot Bitcoin ETF and Bitcoin’s decentralized nature, contrasting with centralized entities like FTX.
This outrageous Bitcoin price prediction entails a crypto market cap representing over half of a projected $25 trillion total crypto market, emphasizing Bitcoin’s role as a unique global digital monetary system.
AI Bitcoin price predictions 2024
TradingEconomics forecasts Bitcoin to be priced at 4274054780 USD by the end of this quarter and at 48450 USD in one year, according to its global macro model's projections and analysts' expectations.
WalletInvestor provides a slightly bullish Bitcoin price prediction for 2024. The website forecasts Bitcoin to hit a maximum of 75.000 and close the year at around 62,000.
According to CoinPriceForecast, Bitcoin price will hit $101,000 by the end of 2024 with $69,000 by the end of Q2, while LongForecast predicts Bitcoin to trade as high as 98469 by the end of 2024.
Bitcoin Price Prediction 2025-2030
Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that limited supply and rising demand would suggest a bullish bitcoin projection. The analyst's Bitcoin price prediction for 2030 is $100,000.
Arthur Hayes predicts a significant surge in Bitcoin’s value, with a long-term projection of $750,000 to $1 million by 2026. In his recent interview, Hayes pointed to Bitcoin’s limited supply, the introduction of Bitcoin spot ETFs in regulated markets, and geopolitical uncertainties as significant factors driving this anticipated growth.
Renowned bitcoin analyst PlanB predicts a potential all-time high of $524,000 for bitcoin in the next four years.
Analysts at Blockware Solutions suggest that the 2024 bitcoin halving could propel the price to a staggering $400,000 in the next 5 years.
Mike Novogratz, a prominent Bitcoin advocate and CEO of Galaxy Digital, has significantly revised his earlier bullish predictions for Bitcoin. In 2021, he had anticipated Bitcoin reaching $500,000 by 2024, even planning a commemorative tattoo for the milestone. Novogratz maintains a long-term optimistic view, believing Bitcoin will eventually hit $500,000, though not within the next five years.
His current ultra-bullish Bitcoin price prediction is influenced by Federal Reserve Chair Jerome Powell’s firm stance on interest rates, which Novogratz has forecasted as a barrier to a rapid return to BTC’s previous highs.
Mark Basa gave a more bullish Bitcoin price prediction for 2030 and beyond. He expected the token to reach $1m in the next eight years. He believes that a whole new generation of young people is going to be introduced to easier ways to buy Bitcoin and interact with crypto. They’ll be faced with a much higher cost of living, US debt, inflation, and a housing market almost out of reach.
The most bullish 2030 Bitcoin price prediction comes from Cathie Wood of ARK Invest. She forecasts Bitcoin will hit $1.5 million by 2030.
The Bitcoin price prediction for the next 5 years from WalletInvestor is bullish, with BTC forecasted to trade around 100,000 USD.
Giving longer-term price targets for bitcoin in 2030, DigitalCoinPrice, as of May 2024, suggested that the coin could trade at an average price of $305,981.72 in 2030.
According to PricePrediction, the average Bitcoin value could be $387,000 by 2030.
According to CoinPriceForecast, Bitcoin price will hit $138,496 by the end of 2026. Bitcoin will rise from $186,384 to $273,263 during 2031-2035. This is one of the most bullish Bitcoin forecast for the next 10 years.
Is It Possible to Forecast the Price of Bitcoin?
Many price predictions for Bitcoin are flawed because they lack the necessary analytical support. Investors will always be attracted to a high price point, especially one that is on an upward price trend. Someone holding a cryptocurrency priced at $0.01 could easily believe that it will rise to $10,000 just because it sounds good.
The problem is that predictions can be made without any evidence or analysis. However, three types of analysis have been used in the financial world for a long time to try and forecast prices and the evolution of markets.
- Technical Analysis
- Fundamental Analysis
- Sentimental Analysis
Bitcoin Forecast using fundamentals
Investors in financial markets use fundamental analysis to study and evaluate the variables that impact an asset’s price.
You can assess the intrinsic value of a cryptocurrency to determine if it is undervalued or overvalued. This can be achieved by analyzing qualitative factors like the state of the economy and cryptocurrency market conditions, as well as the management and market capitalization of crypto companies.
Fundamental analysis can help traders determine the price of a cryptocurrency based on a wide range of information. This could be a great way to make long-term investment decisions.
How to conduct a Bitcoin price prediction today using fundamentals
Fundamental analysis is when you examine the fundamentals of cryptocurrency projects, from their market capitalization to the utility and value of the native token.
Do not confuse fundamental analysis and technical analysis. Fundamental analyses of cryptos are more qualitative and less tangible than statistical trends like price charts or historical market data.
The fundamental analysis of cryptocurrency is like that of traditional financial markets with more traditional assets such as stocks. It is not as important to focus on a company’s historical financial performance, financial statements, or balance sheets.
The following parameters can be used to help investors predict trends in crypto markets:
- Market capitalisation
- Total and circulating supply
- Token utility and use cases
- Community size
- The team for the crypto project
- The crypto's trading volume
- Crypto exchanges listings
- Partnerships with trusted institutions
- The latest news about the coin
- Government rules and regulations
It is important to remember that fundamental analysis can only give you an overview of cryptocurrency investments. You can better understand the project and the future changes in cryptocurrency prices by looking at all the information. To get a better picture, you can also refer to the company’s whitepaper.
You can also examine blockchain metrics which provide crucial information about a cryptocurrency's technology and processes.
Bitcoin Forecast using technical analysis
Technical analysis uses historical price charts and market statistics to examine and anticipate price changes in the financial markets. It is founded on the concept that if a trader can recognize historical market trends, they may anticipate future price trajectories accurately.
Whereas fundamental analysis focuses on an asset's 'real value,' considering both external and intrinsic elements, technical analysis is only based on an asset's price charts. To anticipate future movements, all that is required is the recognition of patterns on a chart.
The ability to recognize price trend cues in a market is an important part of any trading strategy. All traders must devise a strategy for determining the optimal entry and exit points in a market and using technical analysis tools is a popular technique for doing so.
Technical analysis software is now so widely utilized that many people believe it has established self-fulfilling trading rules: As more traders use the same indicators to find support and resistance levels, more buyers and sellers will congregate around the same price points, repeating the patterns.
In general, technical analysts look at the following broad types of indicators, formations, and theories:
- Price trends (trendlines, channels, Elliott Waves, Dow Theory)
- Chart patterns (double tops and bottoms, head and shoulders, triangles, wedges)
- Price action (pin bar, inside and outside bars, and different candlesticks chart patterns like Doji candle)
- Trend following indicators (moving averages, Ichimoku, Parabolic SAR, ZigZag, ADX)
- Volatility indicators (Bollinger bands, ATR)
- Oscillators (RSI, MACD, CCI, Stochastic)
- Support and resistance levels (Fibonacci retracements, pivot points)
Bitcoin Price Prediction Using Market Sentiments
In finance, the term "sentiment" refers to a viewpoint or opinion about a market's condition. The sentiment of crypto market investors towards the asset is a description of their general emotions and attitudes. It reflects the collective psychology of all those involved in trading and developing cryptocurrency.
How investors feel about cryptocurrency can have a tangible impact on market cycles and the price. It can have serious implications if enough traders act on the ideas, thoughts, and feelings they share, regardless of whether they are based on real-world data. This is evident in how tweets by Elon Musk have impacted Bitcoin's price (a bullish sentiment).
For analyzing the sentiment of cryptocurrency markets, there are many statistics you can use. The following statistics provide vital information about the movement and trajectory of cryptocurrency assets: funding rates, sentiment indices, social media, community analysis, and whale monitoring.
The funding rates are the monthly payments that traders receive based on price differences between the spot price of currencies and tokens and the price difference between cryptocurrency perpetual contracts. Positive funding rates indicate a bullish market.
A sentiment index is used to predict whether investors will act fearfully or greedily. It can be affected by volatility, market momentum, and investor responses to surveys. A fearful market can be an opportunity to buy if it is managed correctly. Conversely, a greedy market means that it is a good moment to sell.
Another crucial aspect for assessing sentiment in crypto markets is the community’s activity on social media, especially Twitter and Telegram. Investors would look for an active social network with meaningful interaction across platforms.
Whale monitoring is the process of keeping an eye out for big crypto players. A cryptocurrency whale is an investor who holds large-value transactions on multiple blockchains. Whale watchers spot major market participants' trades and trade accordingly.
Bitcoin Historical Prices
To better inform your Bitcoin price predictions, here are the most important price movements and trends in Bitcoin's history.
2009 - 2015
Bitcoin was first introduced in 2009. Back then, the price of BTC was zero. Its price reached $0.09 on July 17, 2010. In April 2011, the price was around $1 and surged to around $29.60 by June 2011, which was a 2,960% growth in only three months. Its price dropped to $2 by November 2011.
Bitcoin had a steady evolution throughout 2012, and by 2013 it surged again, reaching $230 by April and then $1,237 in October 2013. However, the Bitcoin price plummeted by 2014, and it was around $300 by the start of 2015.
2016-2022
The price of Bitcoin steadily climbed through 2016, reaching $900 by December 2016. In December 2017, Bitcoin's price reached $19,345.49, gaining massive social media attention. Major investors took notice of Bitcoin, and the cryptocurrency market exploded.
The price of Bitcoin fluctuated over the next two years, with only small spikes in price. In June 2019, prices surpassed $10,000, indicating a rebound in both price and trading volume. It dropped to $6,635.84 in December 2019.
The COIVD-19 pandemic caused the economy to shut down in 2020. However, Bitcoin's price surged into activity again. Bitcoin’s price was around $7,000 at the beginning of 2020. Then the price of the asset was accelerated by the pandemic shutdown and subsequent government policy. And they were right, as the price did increase about 416% by the end of the year, reaching $29,000 in December 2020.
It took Bitcoin less than a month to surpass its 2020 price record of $40,000, which happened in January 2021. Prices fell by half in the summer of 2021. Bitcoin’s price reached its lowest point on July 19, when it was trading at $29,795.55.
But the crypto market experienced another bull market during October and November, and Bitcoin reached an all-time record of $67,549.14 on November 7, 2021.
Bitcoin failed to break the $70,000 level and started dropping in late 2021. The cryptocurrency has slipped into a bear market since November 2021, recording one of its biggest historical crashes in 2022, driven by the collapse of high-profile projects, liquidity issues and bankruptcies.
By the end of 2022, the cryptocurrency crashed below $20,000 for the first time since 2020, fueling extreme fear in the market. In December 2022, Bitcoin was struggling to maintain at $17,000.
2023 and present
In 2023, FTX founder Sam Bankman-Fried was found guilty of all seven criminal counts brought against him by federal prosecutors in the U.S.
Also in 2023, Binance’s Changpeng Zhao pleaded guilty to criminal charges and stepped down as the company’s CEO as part of a $4.3 billion settlement with the Department of Justice.
However, Bitcoin had a huge rally in 2023, with the digital currency up some 152% for the year.
At least some of this success can be chalked up to an improving overall economy; job gains, the deceleration of inflation, and the prospect of interest rate cuts this year have helped to bolster stocks, which have been shown to follow similar price patterns as cryptocurrencies.
The expected Bitcoin halving and Bitcoin ETF added optimism to the market.
Sources:
- https://www.bitcoin.com/get-started/
- https://www.federalreserve.gov/econres/feds/bitcoin-technical-background-and-data-analysis.htm
- https://www.coinglass.com/BitcoinOpenInterest
- https://www.investopedia.com/bitcoin-halving-2024-what-next-8636072
https://blog.woo.org/content/files/2024/04/WOO-X-Research_Q1-Highlights-and-alpha-outlook-for-Q2.pdf - https://cointelegraph.com/news/bitcoin-hash-rate-decline-post-halving-implications-strategies