5 Top Crypto Influencers Make Their Bitcoin Price Predictions For 2024

2023 has been a stellar year for the cryptocurrency market, with the global crypto market capitalization rising by 113% year-to-date, currently hovering at the $1.77 trillion mark. 

The Bitcoin price appreciated by 160% year-to-date, hitting an yearly high of $44,500 and a market capitalization of $870 billion. BTC is currently trading at $42,700, outperforming most Bitcoin price predictions made at the start of 2023.

The Bitcoin bull rally could largely be attributed to the strong likelihood of the US Securities and Exchange Commission approving all spot Bitcoin ETF applications, including BlackRock’s iShares ETF. 

The ETFs are expected to bring billions to dollars to the Bitcoin ecosystem from the institutional investors. More importantly, this will be a decisive victory for the crypto proponents over the SEC, which had previously outright rejected all such applications. 

Bitcoin Price Prediction For 2024

Despite the change of the year, the bullish sentiment of crypto analysts in regards to Bitcoin remains unchanged. A number of factors are contributing to the widespread optimism. 

The SEC is set to approve all the spot Bitcoin ETF applications in between the 5th and the 10th of January. According to Pantera Capital’s Dan Morehead, the spot Bitcoin approval will be a “Buy The News” event, highlighting that BTC will see another upwards move after the SEC’s green light. 

The Bitcoin halving is also quickly approaching and is expected to take place at the start of April 2024. Bitcoin’s price typically experiences a massive upside rally a few months after the halving, as its supply is cut in half while the demand surges. 

The upcoming halving will also result in a strong price rally in other BTC derivatives such as Bitcoin Minetrix, especially since the new crypto project allows small scale investors to mine BTC and earn rewards. Some analysts predict that it native token $BTCMTX could 10x in price in 2024 following its initial exchange listings. 

Furthermore, the Federal Reserve is set to adopt a dovish monetary policy in 2024, ending its long-standing restrictive approach. During the last FOMC meeting, Fed chair Jerome Powell stated that the central bank is likely done raising the interest rates and that there was a discussion about when to start cutting the rates. 

The CME FedWatch Tool is already displaying a 20% chance of the Fed starting to cut its benchmark rate in January itself, while giving it a 72% chance to start in March. The dovish monetary policy is extremely bullish for Bitcoin and the rest of the crypto market. 

In this article, we dive into the Bitcoin price prediction given by 5 expert market analysts and crypto influencers. 

Tim Draper, Founder Of DFJ and Draper Associates

Tim Draper is a popular crypto influencer, a prominent VC and an early BTC bull, with a long track record of accurate Bitcoin price prediction. 

In 2014, Draper purchased 30,000 BTC tokens at a cumulative price of just $19,000,000. The value of his Bitcoin holdings has now ballooned to over $810 million, representing an uptick of 4,165% in its price. He also boldly predicted that the Bitcoin price will hit the $10,000 mark by 2017, which turned out to be true. 

Now Draper has made another startling Bitcoin price prediction, predicting the largest cryptocurrency to hit the $250,000 by July of 2024. He believes that BTC may even surpass his prediction, highlighting its mass adoption.

Draper’s BTC prediction is especially surprising, considering that he does not believe that the SEC will approve spot Bitcoin ETF applications unless Nikki Haley - a Republican nominee - wins the presidency of the United States. 

Michael van de Poppe, Founder of MN Trading

Michael van de Poppe is a popular crypto analyst, with over 679k followers on X. De Poppe is extremely bullish on the crypto market next year. However, he believes that Bitcoin will have a tumultuous 2024, even though its price will be significantly higher at the end of the year than at the start. 

De Poppe highlights that the Bitcoin dominance typically hits a local top prior to the BTC halving, after which the altcoins take control of the crypto rally. Consequently , he predicts BTC to peak at $48k in the first quarter of 2024, followed by a few months of consolidatory range-bound price action. 

However, he expects the Bitcoin price to start its second bullish leg a few months after the halving which could span for about two years, a phenomenon that has been observed during previous crypto cycles as well. By the end of 2025, he predicts BTC to hit the $250,000 - $300,000 range. 

Lark Davis, Founder of Wealth Mastery

Lark Davis is one of the most popular crypto influencers, with over 1.1 million followers on X. Davis is extremely bullish on the impact of spot Bitcoin ETFs, believing that the investment vehicles could draw over $20 billion to the BTC ecosystem. 

Furthermore, with the BTC halving and retail investors exerting their positive influence, he believes that the Bitcoin price will create a new all-time high in 2024. In fact, Lark Davis believes that Bitcoin will be priced at $100,000 by the end of 2024. 

Dr. Profit Crypto, Crypto Trader

Dr. Profit Crypto is a popular analyst and expert trader, with over 230k followers on X. 

He is extremely against the idea that the spot Bitcoin ETF approval is a “Sell the News” event, strongly believing that the BTC price will experience a strong bullish surge after the SEC’s green light. He highlights that the Gold ETFs also saw a massive surge in 2004 after their approval. 

Dr. Profit believes that Bitcoin will witness the “mother of all bull markets” in 2024, citing that BTC could end up as high as $100,000 - $120,000 by the end of this bull run in 2024 and 2025. 

Unlike de Poppe, Dr. Profit remains bullish on BTC in the short-term as well, as long as it stays above the 20-day Simple Moving Average indicator. 

Crypto Jelle, Analyst

Jelle is a long-term crypto and stock investor, with over 50k followers on X. He believes that the Bitcoin price will trade near the $65k mark at some point in 2024, extremely close to creating a new all-time high. 

Jelle highlights that BTC has just flipped a crucial resistance in the weekly time frame, which resulted in a massive bull run in 2020. 

 

The top crypto analyst predicts that the Bitcoin price will soon test the $48k resistance, flipping which could then catapult it straight to the $65,000 mark. 

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