Short and medium-term forecasts on the price of Bitcoin: 87,000 dollars by the end of 2024

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The fintech company Finder conducted a survey with 32 experts in the cryptocurrency market, asking them what their price predictions for Bitcoin are from now until 2030.

Based on the findings, the responses of the interviewees on average project the price of the cryptocurrency to 87,000 dollars by the end of the year.

Going beyond the forecasts reveal a decidedly bullish spirit for the long term: is now the right time to buy?

Let’s see everything below.

Finder’s predictions on the price of Bitcoin: industry experts are bullish

According to the latest survey conducted by Finder in July 2024, the forecasts on the price of Bitcoin in the short and medium term are positive.

On average, the 32 panelists see an average price of 87,169 dollars for the cryptocurrency by the end of the year, highlighting a potential growth of around 35% compared to current quotations.

Among the interviewees, the most bull predict even a target of 200,000 dollars by the end of 2024. Among the most bear, however, the price estimate reaches 10,000 dollars in the same period.

If we expand the time horizons projecting to 2025, the average forecasts of Finder rise to 127,494 dollars, while for 2030 we reach 385,514 dollars.

Although these targets may seem ambitious, consider that in the last Finder survey conducted in April 2024, the forecasts were even more bull.

In the last quarter, there was talk of an average price of 150,996 dollars for 2025, while for 2030 the projections were astonishing and indicated a price of 567,489 dollars.

Among the interviewees, Dr. Sathvik Vishwanath, CEO of Unocoin Technologies, believes that by the end of the year we will see a strong increase in the value of Bitcoin, reaching $120,000.

His strategy is to hold the cryptocurrency in the long term, without worrying excessively about short-term fluctuations.

These are his words:

“My predictions on bitcoin prices are based on historical price trends, market sentiment, and ongoing institutional interest. The current price of BTC reflects its role as a digital store of value comparable to gold. Given the macroeconomic factors and increasing adoption, at the moment BTC seems to be fairly priced. Volatility remains constant, so holding BTC may be the best strategy for long-term gains.”

Maximum and minimum price in 2024

The Finder survey certainly doesn’t end here: respondents were asked to indicate the maximum and minimum price predictions that Bitcoin will reach this year.

Regarding the maximum value, the average of the panelists’ responses projects the cryptocurrency at 93,333 dollars. Some believe it will even reach 200,000 dollars in the next 5 months.

For the lowest price instead, the average responses from experts indicate a value of 48,117 dollars, with some remaining super bear with predictions down to 10,000 dollars.

Among the most optimistic we find Ben Ritchie, CEO of Alpha Node, who believes that we will see BTC reach 120,000 dollars in 2024.

His theories are based on the state of the four-year cycle of Bitcoin. This is what was reported to Finder:

“The current price of Bitcoin is consolidating after reaching its maximum resistance in 2021. We predict that the longer this consolidation phase lasts, the higher the probability of surpassing this resistance and reaching new highs. This would be consistent with its historical four-year cycle.”

Julian Hosp, CEO di Cake Group, è piuttosto bull e crede che andremo presto in FOMO portando il prezzo di Bitcoin sopra i 100.000 dollari.

To be slightly less enthusiastic is instead Diego Apaza, CEO of Alpha Stocks Lab, who while remaining positive predicts a top of 90,000 dollars this year.

In all this, there are also those, like Dimitrios Salampasis, FinTech lecturer at Swinburne University of Technology, who do not expose themselves excessively in predictions.

He believes that the top of Bitcoin has already been reached, but at the same time he predicts a minimum very close to the current prices at 61,805 dollars.

According to Alexander Kuptsikevich, senior market analyst at FxPro, Bitcoin will crash to 38,300 dollars but will recover and reach 80,000 dollars by the end of the year.

“Despite four consecutive weeks of decline and a bit of a downward trend after the March peak, there is still a bull market in bitcoin.”

Now is a good time to buy Bitcoin

Given the forecasts on the price of Bitcoin released by industry experts, now should be a good time to buy the cryptocurrency.

Especially from a long-term perspective, 55% of Finder’s panelists believe that now is an excellent choice to buy Bitcoin, given its potential for future appreciation.

At the same time, 32% of respondents believe that buying now is risky, while they prefer to hold their previously acquired positions.

Only 13% finally believe that it is the case to sell Bitcoin and move elsewhere.

Nicole DeCicco, CEO di CryptoConsultz, is part of the category of the most optimistic, and believes that the buying pressure of the crypto ETFs will push the price up.

“Bitcoin is ready to continue an upward trajectory due to several factors that historically contribute to upward pressure on its price. The influx of institutional investors entering the market, facilitated by the availability of exchange-traded products (ETP) such as bitcoin ETFs, should significantly increase the demand for bitcoin.”

Anche Kimberly Rosales, CEO di ChainMyne, dice che è il momento di fare compere sul mercato crittografico. Secondo l’imprenditrice ci troviamo in un dip del mercato e le previsioni sul sentiment indicate che questa è un’ottima occasione per fare affari.

“The recent drop in Bitcoin prices is considered temporary, with expectations of a rally to $100,000 driven by solid fundamentals despite factors like the Mt. Gox repayments impacting the market. The BTC Fear and Greed index entering the “fear” territory signals a potential buying opportunity for investors and suggests a possible price rebound, supported by optimistic forecasts and market dynamics.”

The current outlook of Bitcoin and the crypto market: bull restart expected for Q4 2024

While experts release their more or less bullish predictions on the price of Bitcoin, many are wondering when the cryptocurrency’s bull run will resume.

At the moment the entire crypto sector is in difficulty due to the confluence of various black swans such as the institutional sales of BTC by Mt. Gox and the German government.

On the political front, Biden’s exit from the elections and the entry of Kamala Harris creates some turbulence related to concerns that Trump might encounter obstacles.

In fact, the crypto market hopes that the Republicans will win the elections, while the price of the orange currency moves based on the electoral polls.

Furthermore, even the stock market is not providing the right push to support Bitcoin prices, with the US indices experiencing a drop in the last week.

To all this is added the fact that usually during the summer speculative assets move with less volatility and rarely make significant movements.

At this moment, the liquidity of large investors is missing, as well as the interest to speculate during the hottest period of the year according to cyclical studies.

Indicatively, however, starting from the end of August/beginning of September, we might start to see more bulls in the market.

What motivates this thesis the most is that on September 18 there is yet another meeting of the FED that will decide on a possible cut in US interest rates.

At the moment, the forecasts indicate that there is an 80% chance that the rates will be lowered to 500-525 basis points, which would support a market recovery.