Bitcoin back on the rise after vaulting to new record (2024)

FAQs

Did bitcoin rise after rapid climb to new record? ›

Bitcoin rose by as much as 6.8% to a session high of $67,645, after having dropped 6% on Tuesday from an earlier record high above $69,000.

Why has it risen in price this time? A major factor in bitcoin's rise since the start of the year has been the approval by the US financial regulator in January of exchange-traded funds [ETFs] – a basket of assets that can be bought and sold like shares on an exchange – that track the price of bitcoin.

Bitcoin Price Prediction May 2024

However, it's expected that the positive momentum will bounce back quickly, maintaining the upward trend. By the end of the month, Bitcoin's price is expected to hover between $72,200 and $72,500.

While past performance does not guarantee future results, these historical precedents suggest that the reduced supply of new bitcoins entering circulation after a halving can lead to increased scarcity and, consequently, higher prices.

The next potential catalyst for bitcoin's 2024 performance will be its halving event, expected in mid-April. Halving is intended to maintain the scarcity of bitcoin and support its price.

Bitcoin (BTC) Price Prediction 2030

According to your price prediction input for Bitcoin, the value of BTC may increase by +5% and reach $ 87,239.62 by 2030.

Who Owns the Most Bitcoins? Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.

Unfortunately, it's also incredibly volatile. For that reason, while current market conditions are favorable for anyone considering buying Bitcoin, it is an asset you should purchase only at your own risk. Because while Bitcoin may have the potential for significant returns, you may also lose most of your investment.

With the launch of potentially more Bitcoin-related financial services and the global adoption spark of Bitcoin, BTC prices will maintain a bullish trend in 2025. The cryptocurrency is expected to create a high of $140,449 with a low of $61,357.

What will $100 dollars of Bitcoin be worth in 10 years? ›

A $100 investment in Bitcoin could purchase 0.00607 BTC today based on a price of $16,466.14 at the time of writing. If Bitcoin hits the $1 million price target by Wood in 2030, the $100 investment would turn into $6,070. This represents a gain of 5,970% from now until 2030.

More than half of the experts Finder surveyed expected the price to increase after a so-called "BTC halving event" in April 2024. A halving event refers to a period every few years when the reward for mining Bitcoin transactions is cut in half.

“Bitcoin trading volume generally sees the most significant increase in the 60 days prior to halvings, as interest builds and prices gain momentum,” Megan Stals, a market analyst at trading platform Stake, tells Forbes Advisor.

A Bitcoin halving event occurs when the reward for mining Bitcoin transactions is cut in half. Halvings reduce the rate at which new coins are created and thus lower the available amount of new supply. Bitcoin last halved on April 19, 2024, resulting in a block reward of 3.125 BTC.

After the 2012, 2016 and 2020 halvings, the bitcoin price ran up about 93x, 30x and 8x, respectively, from its halving day price to its cycle top. The event is a big test for mining companies, however.

It's sometimes easy to forget that Bitcoin (BTC) is just a teenager, launched in 2009 by the enigmatic Satoshi Nakamoto. Since then, Bitcoin has seen a meteoric rise, increasing from fractions of a penny to an all-time high of nearly $69,000 in November 2021.

Bitcoin (BTC) price again reached an all-time high in 2024, as values exceeded over 73,000 USD in March 2024. That particular price hike was connected to the approval of Bitcoin ETFs in the United States, whilst previous hikes in 2021 were due to events involving Tesla and Coinbase, respectively.

Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000. On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.