2024 Bitcoin price predictions

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Not financial advice

While this blog explores potential future price movements for Bitcoin in 2024, it’s crucial to emphasise that this information is for educational and informational purposes only and should not be construed as financial advice. It’s vital to conduct your own thorough research and due diligence before making any investment decisions, consulting with a qualified financial professional as needed.

TL;DR (too long, didn’t read)

Don’t want to read the whole blog? Here’s a summary of the 2024 Bitcoin price predictions in USD, AUD and SGD:

  • Minimum: US$60,000 / A$92,000 / S$81,000
  • Median: US$100,000 / A$154,000 / S$135,000
  • Average: US$143,000 / A$220,000 / S$192,000
  • High: US$500,000 / A$768,000 / S$673,000

Factors that influence price

Limited supply, growing demand & long-term holders

Unlike traditional currencies (AUD, SGD, USD, etc), which can be inflated and devalued, Bitcoin has a fixed long-term supply. There will only be a maximum of 21 million coins to be mined. Over 93% of all Bitcoins have already been mined, this creates scarcity and the potential to drive up its price as demand for Bitcoin continues to increase. Additionally, long-term holders, who choose not to sell their Bitcoin, further restrict the circulating supply.

Bitcoin halving

Every four years, the number of new Bitcoins rewarded to miners is halved. This event is known as the halving. As the mining process becomes more challenging and fewer coins enter circulation, existing Bitcoins become relatively scarcer, potentially influencing their price. In 2009 there were 50 new Bitcoins mined with every block, then the supply dropped to 25, 12.5 and until April 2024, only 6.25. After April 2024, only 3.125 Bitcoin will be mined every approximately 10 minutes.

Awareness and adoption

Growing public awareness and adoption of Bitcoin can also positively impact its price. As more people recognise Bitcoin’s potential as a store of value or medium of exchange, demand may increase, driving up the price. As of 2024, 95% of Australian adults are aware of at least 1 cryptocurrency and 27.5% own some crypto, with Bitcoin being the most widely held cryptocurrency.

Bitcoin spot ETF buying pressure

The approval and launch of spot Bitcoin exchange-traded funds (ETFs) in the United States in January 2024 marked a significant milestone. These ETFs offer a regulated and potentially more accessible way for investors to gain exposure to Bitcoin, without going through a crypto exchange.

While it’s still too early to definitively assess the long-term impact of spot Bitcoin ETFs on price, initial signs suggest they have contributed to the buying pressure. As of February 2024, over $7.7 billion has flowed into the 10 live spot Bitcoin ETFs in the US, highlighting investors’ strong interest in gaining access to Bitcoin’s price.

However, it’s important to note that some experts believe this initial buying pressure might wane over time, and the long-term impact of spot Bitcoin ETFs on price remains to be seen. As with any investment, conducting thorough research and understanding the associated risks is important before making any decisions.


Market sentiment plays a significant role in Bitcoin’s price fluctuations. Positive news and price movements, along with broader economic optimism, can lead to increased investor confidence, driving up demand for Bitcoin. Conversely, negative news, regulatory concerns, or broader market pessimism can lead to investor fear, potentially pushing the price down. You can gauge crypto market sentiment by looking at the Crypto Fear and Greed Index.

Interest rates

Interest rates can also influence Bitcoin’s price. When interest rates are low, investors might seek alternative risk-on assets like Bitcoin. Conversely, rising interest rates could make other investments more attractive, potentially leading to a shift away from Bitcoin.

Bitcoin’s historical trends

Bitcoin’s price history has been characterised by wild fluctuations. Since Bitcoin’s inception in 2009, it has experienced periods of meteoric rises followed by sharp corrections.

In its early years, Bitcoin’s value was negligible. However, it witnessed its first significant price surge in 2011, reaching a peak of around US$30 before plummeting to single digits later that year. This pattern of boom-and-bust cycles continued throughout the next decade, with notable highs in 2013 (around US$1,000 / AU$1,100), 2017 (US$15,800 / AU$26,500), and 2021 (surpassing US$65,000 / AU$93,000). Each peak was followed by significant corrections, highlighting the inherent volatility that comes with the crypto market.

A case for bearish Bitcoin

While some investors remain optimistic about Bitcoin’s future, others hold a more cautious view. These investors point to several factors potentially hindering Bitcoin’s price growth in 2024.

Firstly, concerns regarding regulatory scrutiny and potential crackdowns. Regulatory uncertainty can dampen investor confidence and limit adoption. Additionally, some governments might implement stricter regulations or even bans on cryptocurrency trading, further impacting the market. For instance, China’s 2021 crypto ban significantly impacted the global market, demonstrating the potential influence of regulatory actions.

Environmental concerns surrounding Bitcoin’s energy consumption also remain a point of contention. The energy-intensive mining process raises sustainability concerns, potentially damaging Bitcoin’s public image and deterring environmentally conscious investors. Nonetheless, others have argued that Bitcoin’s energy use is overstated and not properly understood.

A case for bullish Bitcoin

Despite the potential headwinds, many investors remain bullish on Bitcoin in 2024.

Continued institutional adoption is a key driver for Bitcoin’s future success. Major corporations, investment firms, and even sovereign wealth funds are exploring Bitcoin as an addition to their portfolios. This growing institutional interest suggests there’s continued demand for Bitcoin. For instance, MicroStrategy, a leading business intelligence firm, has a US$11 billion stake in Bitcoin.

Advancements in Bitcoin’s scalability and infrastructure could address existing limitations and pave the way for wider adoption. The development of Layer 2 solutions aims to address transaction speed and transaction cost concerns. These developments could make Bitcoin more user-friendly and accessible.

With signs of inflation cooling down, central banks are starting to entertain the possibility of rate cuts later this year. This shift towards a looser monetary policy could benefit Bitcoin, as it often thrives in environments with lower interest rates.

The above, coupled with the aforementioned Bitcoin Spot ETF approval, Bitcoin halving, and supply squeeze created by long-term holders, paints a compelling picture for Bitcoin’s potential price in 2024. 

However, it’s crucial to remember that this is simply a perspective, and thorough research and professional financial advice are essential before making any investment decisions.

Historical Bitcoin price movements

2024 Bitcoin price predictions

Expert opinions regarding Bitcoin’s price in 2024 vary considerably, with predictions ranging from a minimum of US$60,000 to a high of US$500,000. Let’s delve into the specific figures from notable individuals and organizations in the financial and cryptocurrency space.

At the time of writing this article, we had already surpassed the minimum price predictions!

Price predictions in USD, AUD and SGD

  • Minimum: US$60,000 / A$92,000 / S$81,000
  • Median: US$100,000 / A$154,000 / S$135,000
  • Average: US$143,000 / A$220,000 / S$192,000
  • High: US$500,000 / A$768,000 / S$673,000
Source 2024 Bitcoin Price Predictions
Geoff Kendrick, (Head of Research, Standard Chartered) US$120,000
VanEck (Invement Management) US$100,000+
ETC Group US$100,000+
Bitwise US$80,000
Martin Leinweber (Digital Asset Product Strategist) US$150,000
Mark Mobius (Investor) US$60,000
James Butterfill (Head of Research, CoinShares) US$80,000
Antoni Trenchev (Co-Founder, Nexo) US$100,000
Carol Alexander (Professor, University of Sussex) US$100,000
Matrixport (Financial Advisory) US$125,000
Seth Ginns (Managing Partner, CoinFund) US$250,000 – $500,000
Max Keiser (OG Bitcoin Maxi) US$200,000

Need more opinions: here’s a 2024 Reddit thread with more Bitcoin price predictions.

2025 predictions

Source 2025 Bitcoin Price Predictions
Tim Draper VC (Founder of DFJ) US$250,000
Plan-B US$1,000,000
Changelly US$36,000 – $127,000
CoinCodex US$62,000 – $156,000
Techopedia US$50,000 – $102,000

2030 Bitcoin price predictions

Opinions of everyday Australians

In the Australian 2024 Independent Reserve Cryptocurrency Index (IRCI) survey, we asked over 2,000 Australians from all walks of life about their 2030 Bitcoin price predictions. Those who have invested in crypto are more optimistic about Bitcoin’s long-term price than non-crypto investors. Below are the results in AUD:

2030 bitcoin price predictions

Long-term Bitcoin price predictions

Source Long-term Bitcoin price predictions
Messari (Research firm) $600,000 (Long term)
Cathie Wood (CEO of Ark Invest) $1,000,000 (2030)
Hal Finney $22,000,000 (2045)
Fidelity Investments $1,000,000,000 (2038)
Chamath Palihapitiya $1,000,000 (2040)
Michael Saylor $5,000,000


Bitcoin’s price in 2024 remains uncertain, with various factors influencing its potential trajectory. While some experts predict significant growth, others warn of potential headwinds. It’s important to remember that this blog post is not financial advice, and conducting your own research and seeking professional guidance is essential before making any investment decisions.

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