{"id":544332,"date":"2023-07-25T20:00:44","date_gmt":"2023-07-25T20:00:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=544332"},"modified":"2024-06-11T08:09:35","modified_gmt":"2024-06-11T08:09:35","slug":"bitcoin-will-reach-180000-in-2024","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-will-reach-180000-in-2024\/","title":{"rendered":"Fundstrat Predicts Bitcoin Will Reach $180,000 In 2024, But What’s The Catalyst?"},"content":{"rendered":"

Bitcoin has been on the lips of many crypto investors and news outlets for the past few months as major investment companies like BlackRock look to bring on Spot Bitcoin ETFs. The world’s largest digital currency has also seen an increase in price in the past few months as a result of this, ranging around $30,000 for almost a month.\u00a0<\/span><\/p>\n

Now, Fundstrat, an equity research firm based in New York City, has made a daring bullish prediction on the price of BTC. According to the investment research firm, the price of the cryptocurrency could reach $180,000 before its April 2024 halving.<\/span><\/p>\n

Fundstrat Makes Bullish Bitcoin Prediction<\/h2>\n

In a Monday note<\/a> to its clients, the firm put forward that BTC’s price could be on the verge of skyrocketing in the next year. A big part of their prediction revolves around the possibility of the trading of Spot Bitcoin ETFs by investment firms spearheaded by BlackRock, the world\u2019s largest asset manager with over $9 trillion in assets. If approved, Spot Bitcoin ETFs could open the gates for mainstream investors and institutions to pour billions of dollars into Bitcoin.<\/span><\/p>\n

Related Reading: Elon Musk Incorporates Dogecoin Symbol In Twitter Bio, Triggering 5% Increase In Price<\/a><\/div>\n

The investment research firm said that the current daily demand for BTC currently at $25 million could skyrocket to $100 million with Spot Bitcoin ETFs. This would put bitcoin ETFs in direct rivalry with the market for precious metals ETFs, which currently has a total market capitalization of approximately $230 billion.<\/span><\/p>\n

“This [bitcoin ETF launch] would bring daily demand to $125 million, while daily supply is only $25 million. The implied equilibrium price would need to rise so daily supply matches daily demand,\u201d Fundstrat said in the research note.<\/span><\/p>\n

Fundstrat’s head of digital asset strategy, Sean Farrell, also added: “We anticipate [a bitcoin ETF] would attract new investors and generate increased demand for bitcoin.”<\/span><\/p>\n

\"Bitcoin<\/span><\/p>\n

BTC price recovers slightly to $29,227 | Source: BTCUSD on Tradingview.com<\/a>\u00a0<\/span><\/pre>\n
Upcoming BTC Halving<\/h2>\n
Another thing the research note mentions is the influence of the upcoming Bitcoin halving. Done once approximately every four years, the Bitcoin halving cuts in half the reward given to miners for mining a block on the blockchain. Past halvings have been known to reduce inflationary pressure on BTC, thereby steadily increasing its price.\u00a0<\/span><\/p>\n
According to Fundstrat, the impending reduction of the daily mining incentive to $6 million from its current $12 million would result in a sizeable increase in the price of Bitcoin in order to achieve a state of equilibrium between buyers and sellers. The effect of the halving is then expected to compound with the Spot Bitcoin ETFs, leading to a greater price increase.<\/span><\/p>\n
Related Reading: Ripple\u2019s XRP Sales Jump Significantly In 2023, But Is This Bearish For The Altcoin?<\/a><\/div>\n
Coincidentally, Fundstrat is not the only firm anticipating BTC reaching the $100,000 mark in the near future. In April, Standard Chartered predicted that a unit of Bitcoin would go for more than $100,000 by the end of 2024.<\/span><\/p>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has been on the lips of many crypto investors and news outlets for the past few months as major investment companies like BlackRock look to bring on Spot Bitcoin ETFs. The world’s largest digital currency has also seen an increase in price in the past few months as a result of this, ranging around $30,000 for almost a month.\u00a0 Now, Fundstrat, an equity research firm based in New York City, has made a daring bullish prediction on the price of BTC. According to the investment research firm, the price of the cryptocurrency could reach $180,000 before its April 2024 halving. Fundstrat Makes Bullish Bitcoin Prediction In a Monday note to its clients, the firm put forward that BTC’s price could be on the verge of skyrocketing in the next year. A big part of their prediction revolves around the possibility of the trading of Spot Bitcoin ETFs by investment firms spearheaded by BlackRock, the world\u2019s largest asset manager with over $9 trillion in assets. If approved, Spot Bitcoin ETFs could open the gates for mainstream investors and institutions to pour billions of dollars into Bitcoin. Related Reading: Elon Musk Incorporates Dogecoin Symbol In Twitter Bio, Triggering 5% Increase In Price The investment research firm said that the current daily demand for BTC currently at $25 million could skyrocket to $100 million with Spot Bitcoin ETFs. This would put bitcoin ETFs in direct rivalry with the market for precious metals ETFs, which currently has a total market capitalization of approximately $230 billion. “This [bitcoin ETF launch] would bring daily demand to $125 million, while daily supply is only $25 million. The implied equilibrium price would need to rise so daily supply matches daily demand,\u201d Fundstrat said in the research note. Fundstrat’s head of digital asset strategy, Sean Farrell, also added: “We anticipate [a bitcoin ETF] would attract new investors and generate increased demand for bitcoin.” BTC price recovers slightly to $29,227 | Source: BTCUSD on Tradingview.com\u00a0 Upcoming BTC Halving Another thing the research note mentions is the influence of the upcoming Bitcoin halving. Done once approximately every four years, the Bitcoin halving cuts in half the reward given to miners for mining a block on the blockchain. Past halvings have been known to reduce inflationary pressure on BTC, thereby steadily increasing its price.\u00a0 According to Fundstrat, the impending reduction of the daily mining incentive to $6 million from its current $12 million would result in a sizeable increase in the price of Bitcoin in order to achieve a state of equilibrium between buyers and sellers. The effect of the halving is then expected to compound with the Spot Bitcoin ETFs, leading to a greater price increase. Related Reading: Ripple\u2019s XRP Sales Jump Significantly In 2023, But Is This Bearish For The Altcoin? Coincidentally, Fundstrat is not the only firm anticipating BTC reaching the $100,000 mark in the near future. In April, Standard Chartered predicted that a unit of Bitcoin would go for more than $100,000 by the end of 2024. Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":544333,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,678,679,1119,1144,78790,13103],"class_list":["post-544332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-prediction","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-fundstrat"],"acf":[],"yoast_head":"\nFundstrat Predicts Bitcoin Will Reach $180,000 In 2024, But What's The Catalyst?<\/title>\n<meta name=\"description\" content=\"Bitcoin has been on the lips of many crypto investors and news outlets for the past few months as major investment companies like BlackRock look to bring\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Fundstrat Predicts Bitcoin Will Reach $180,000 In 2024, But What’s The Catalyst?","url":"http:\/\/uniquehot.com\/news\/bitcoin-will-reach-180000-in-2024\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-will-reach-180000-in-2024\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/iStock-1356848899.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/iStock-1356848899.jpg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin prediction","bitcoin price","btc","btcusd","btcusdt","fundstrat"],"dateCreated":"2023-07-25T20:00:44Z","datePublished":"2023-07-25T20:00:44Z","dateModified":"2024-06-11T08:09:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Fundstrat Predicts Bitcoin Will Reach $180,000 In 2024, But What’s The Catalyst?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-will-reach-180000-in-2024\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-will-reach-180000-in-2024\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1356848899.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1356848899.jpg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin prediction\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\",\"fundstrat\"],\"dateCreated\":\"2023-07-25T20:00:44Z\",\"datePublished\":\"2023-07-25T20:00:44Z\",\"dateModified\":\"2024-06-11T08:09:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/iStock-1356848899.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/544332"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=544332"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/544332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/544333"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=544332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=544332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=544332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}