Matrixport's $45K End of Year Target for Bitcoin Looks to Be Accurate (2024)

FAQs

What is the realistic price target for Bitcoin? ›

Wood boldly predicted that BTC could surge 5,837%, reaching a price of $3.8 million per coin, by 2030. Her bullish projection, coupled with the recent resurgence in market sentiment, is igniting excitement among crypto enthusiasts and investors.

Bitcoin Overview

Our most recent Bitcoin price forecast indicates that its value will increase by 17.24% and reach $64,372 by September 11, 2024. Our technical indicators signal about the Bearish Bullish 27% market sentiment on Bitcoin, while the Fear & Greed Index is displaying a score of 26 (Fear).

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Bitcoin price approaches the $56,022 support level; if the level holds, it could continue its recovery. Ethereum price faces resistance around the $2,421 level, and a close below the level could prolong its downtrend. Ripple price faces rejection around the 200-day EMA at $0.548, eyeing a decline ahead.

If Wood is correct and Bitcoin does reach $3.8 million by 2030, an investment of $1,000 would be worth over $60,000. This would result in a compound annual growth rate (CAGR) of over 100%.

“Based on the current market trend, it is possible that bitcoin may reach up to $100,000 by the end of 2024 and could potentially surpass $200,000 by the end of 2025,” Collins said. Unfortunately, he said it's unlikely bitcoin's momentum in 2023 and 2024 will continue indefinitely.

Is there any coin better than Bitcoin? ›

Ether (ETH)

Unlike Bitcoin, Ether's underlying network is far more than just a tool for peer-to-peer payments; the Ethereum blockchain is custom-made for smart contracts and decentralized finance tools, as well as for so-called Web3 applications and the trading of non-fungible tokens, or NFTs.

Bitcoin's Price History

Notably, Cathie Wood, CEO of Ark Invest, predicted that bitcoin could reach an astounding $1.48 million by 2030. Obviously, the world's oldest cryptocurrency has come a long way since its first recorded price of less than a cent.

Cryptos that could boom in 2024 include Render Token (a rendering network) and Solana. Bitcoin and Ethereum could also be poised for strong performances in 2024, thanks to the SEC's approval of Bitcoin ETFs and Ethereum ETFs.

Ark's research suggests the cryptocurrency could soar 2,115% to almost $1.5 million by 2030 -- but Wood herself came out with an even more bullish estimate recently, saying Bitcoin could rocket 5,453% to $3.8 million.

There's a strong likelihood that the bull market will persist, possibly pushing Bitcoin's price to $100,000 by year-end. The market has seen an influx of new investors, both retail and institutional, who are using spot ETFs to enter the market conveniently.