Analysts Predict Bitcoin Boom: $2.2T Market Cap, $280K Target Post-Halving

February 5, 2024
Analysts Predict Bitcoin Boom: $2.2T Market Cap, $280K Target Post-Halving
  • Michaël van de Poppe predicts a surge in Bitcoin value around the 2024 halving event, with a potential $2.2 trillion crypto market cap and $600 billion influx.

  • Altcoins, led by Ethereum, are expected to drive the market's valuation, as Bitcoin and Ethereum trade above $43,000 and $2,300, respectively.

  • Investors demonstrate increasing confidence in Bitcoin, contributing $197 million to Bitcoin spot ETFs, despite outflows from Grayscale Bitcoin Trust.

  • Analyst Charles Edwards forecasts a 500% Bitcoin price return post-2024 halving, with a potential conservative price of $300,000 in the coming years.

  • Bankrupt lender Genesis seeks to sell $1.3 billion in Grayscale ETFs, with a court hearing set for February 8, despite overall inflows into bitcoin ETFs.

  • Market volatility has caused Bitcoin's price to drop below $43,000, but bullish sentiment persists with expectations of a rise above $50,000 by late February.

Summary based on 42 sources


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