Can BTC (Bitcoin) surpass $100,000 in 2024?

When will BTC reach $100,000? An OptOut SEO Analysis.

It’s been a thrilling year for Bitcoin investors, with huge events such as the halving and ETF approvals propelling to a new ATH.

During the bull rally leading to the halving that occurred on April 20, Bitcoin (BTC) reached a new all-time high (ATH) of $73734 on March 14, over a month before the halving. Since then the price has maintained a resistance close to 70k, with gaps as low as 57k.

Our researcher at OptOut SEO reminds you that there are many variables to consider when analyzing the movement of a crypto like Bitcoin. A possible explanation for the highs of 2024 is the boosted confidence of regular investors and new buyers reacting to the high media interest leading to the halving, virtually inflating the BTC’s price.

A possibility, since the halving by itself does not increase the value of BTC, at least not instantly.

Halving

The halving is a pre-programmed event that’ll cut the distribution of all BTC given as reward per block mined by half. With 2024’s halving, the total reward per block now sits at 3.125, which are distributed worldwide each 10 minutes, in a rough average, a far cry from the original 50 coins per block.

Besides the halving, factors that can drive up the perceived value of BTC are.

Higher Bitcoin adoption
Higher Market Cap
Decreased available offer

Less predictable events such as the fall of big brokers like FTX can negatively impact the value of cryptos due to decreased market trust.

Why do halvings increase the price of Bitcoin

By itself, halvings do not increase the price of BTC, but make the total amount already distributed more valuable due to a smaller injection of BTC into its ecosystem.

Think of it like this, imagine a world in which there’s a single gold mine from which it is possible to extract gold, due to being the only source of gold, the perceived value is bigger than in our world, for example, in which news sources can be found.

In this world not all of the gold is yet accessible, mining is required to add the gold into the economy. As mining progresses, the mine gets closer and closer to running dry, and the perceived value of Gold increases, due to becoming increasingly scarce.

A similar situation happens to Bitcoin with each halving occurring roughly 4 years after the other, the price always increases to the scarcity generated by each cycle, which along with increased adoption, is the main factor that increased the perceived value of BTC. Speaking of adoption, that’s where the ETFs shine.

What are ETFs and why they can drive BTC

ETFs mean Exchange Traded Funds, with approval by the Securities and Exchange Commission, traditional investors can now buy BTC similarly to buying stocks. This means that someone can use a trusted traditional Exchange, such as Franklin Templeton which exists since 1947, and ask them to buy, sell, hold, or lend BTC using their account.

It’s an important step that approaches the ‘’old way’’ of investing to modern forms. While self-custody is an important aspect for crypto investors, the expertise and convenience of traditional Exchanges can be just what new interested investors need to enter into the crypto game.

The event also sets the stage for other countries to follow and increase competition with crypto brokers, such as Binance; more adoption can lead to higher value.

Conclusion

While there are many variables to consider when analyzing the value of cryptocurrencies, the state is set for the price to surpass $100,000 in the following months, while impossible to define when, it’ll likely happen during the first half of 2025 or the last months of 2024, when the effects of halving’s scarcity and ETF adoption starts to kick in.

Personally, we at OutOut SEO are bullish for a new ATH in late 2024.

Do you have any price predictions for BTC in 2024? Let us know in the comments or send us an e-mail at optoutweb@gmail.com.

FAQ

When will BTC reach $100,000?

While impossible to define a date, it’ll likely happen somewhere in 2025. In a bull case, it can also happen during the last months of 2024.

Is it safe to invest in BTC?

Investing in any crypto without prior knowledge can be risky. If you invest in BTC following security preceding, such as storing your coins in a safe Hardware Wallet, and following a strict long-term strategy, then it’s an investment with strong potential.

How much will BTC be worth in 2024?

BTC can surpass $100,000 in 2024, in a bull case. There’s always the possibility of a price crash before a post-halving bull cycle, if it happens, it’s best to hold your coins until early or late 2025 and give the market time to recover.