Bitcoin Price Prediction 2024: Will BTC Hit $150,000 by Year-End?

Bitcoin continues its remarkable ascent in 2024, crossing the historic $100,000 milestone and sparking predictions that it could surpass $150,000 by year-end. Major institutions and industry experts are bullish, with forecasts ranging from six-figure prices to projections of $1 million or more in the coming years. Here's an in-depth look at the latest Bitcoin price predictions and the key factors driving this bullish sentiment.

Quick Take

• Bitcoin crossed $100,000 for the first time on Dec. 5, reaching an all-time high of $103,800.
• ARK Invest, led by Cathie Wood, predicts a minimum price of $124,000 by the end of 2024, driven by institutional adoption and strategic reserve considerations.
• Market sentiment indicates a 10% chance of Bitcoin hitting $150,000 by year-end.
• Decentralized prediction markets like Polymarket and Kalshi and technical analysts see $130,000 to $140,000 as achievable price targets in the coming months.

BTC/USDT price chart | Source: KuCoin

Analysts and prediction platforms see Bitcoin breaking past $150,000 as likely, with a potential surge to $250,000 in the coming weeks and months. Here are some major predictions for Bitcoin’s value before the end of the year and into 2025: 

1. ARK Invest’s $124,000 Target

ARK Invest, led by Cathie Wood, maintains a bullish outlook for Bitcoin. Their latest research indicates a minimum price of $124,000 by December 2024, based on historical performance and the current halving cycle. “Bitcoin’s increasing integration into institutional portfolios signals strong momentum into 2025,” ARK concluded.

Key factors include:

• Growing institutional adoption, highlighted by Bitcoin ETFs and corporate investments.
• Potential consideration by the U.S. government to include Bitcoin in its strategic reserves.

2. Traders Eye $130,000–$140,000 Range

Popular crypto analysts are optimistic about Bitcoin's next move.

• Jelle, a well-known cryptocurrency trader, anticipates a bullish pennant breakout that could propel Bitcoin's price to approximately $130,000. This projection is based on technical analysis of current market patterns, suggesting a continuation of the upward trend.
• Aksel Kibar, a Chartered Market Technician, identifies $137,000 as the next significant resistance level for Bitcoin. He considers the $100,000 mark to be more of a psychological barrier than a technical one, implying that surpassing it could lead to further gains.

These predictions align with technical indicators that signal Bitcoin’s continued upward trajectory.

Fibonacci Extensions: $154,250

Technical analysts point to historical Fibonacci levels to forecast Bitcoin's next move.

• Bitcoin recently broke the 1.618 Fibonacci extension at $101,562, setting the 2.618 level at $154,250 as the next milestone.

3. Analyst Predictions for BTC Price

• Ki Young Ju, CEO of CryptoQuant, predicts Bitcoin could rise to $146,000 by leveraging fresh capital inflows and growth in Bitcoin’s realized cap. Ju noted that Bitcoin’s realized cap growth pushed the ceiling price from $129,000 to $146,000 in just 30 days.
• Tom Lee, at Fundstrat, predicts Bitcoin will hit $150,000 in 2024 and $250,000 by 2025, citing the halving cycle’s “sweet spot.” Lee emphasizes the compounding impact of supply reductions and strong market momentum, which historically drive post-halving price surges.

Bernstein: $200,000 by Late 2025

Bernstein analysts forecast Bitcoin reaching $200,000 by 2025, attributing their bullish outlook to:

• Institutional adoption, with companies like BlackRock and MicroStrategy leading the charge.
• Pro-crypto regulatory shifts, including Paul Atkins’ appointment as SEC chair under President Trump.

4. Prediction Markets Target $128,000–$150,000

Kalshi’s prediction for Bitcoin price | Source: Kalshi 

Data from Kalshi, a leading prediction platform, shows that consensus estimates place Bitcoin’s year-end price at $128,000.

• A notable 10% of participants predict BTC could exceed $150,000 by the end of 2024.

• Over the past month, sentiment has grown increasingly bullish, with projected prices rising by $50,000.

5. Hal Finney’s Long-Term Vision of BTC at $10M

Bitcoin pioneer Hal Finney’s legendary prediction of $10 million per BTC remains a distant dream but has regained attention. Current market momentum and institutional support echo Finney’s early vision of Bitcoin as a global store of value.

6. PlanB’s $1 Million Bitcoin Price Prediction

PlanB’s BTC price forecast based on Bitcoin Stock-to-Flow (S2F) | Source: BitBo

PlanB, the creator of the Bitcoin Stock-to-Flow (S2F) model, forecasts Bitcoin hitting $100,000 by the end of 2024 and reaching $500,000 to $1 million by 2025. The S2F model compares Bitcoin’s scarcity to assets like gold, emphasizing its deflationary nature and limited supply.

PlanB’s model anticipates that as adoption grows and supply shrinks, Bitcoin will reach valuation levels comparable to global reserve assets like gold.

Read more: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025

1. Rising Institutional Adoption Powered By Bitcoin ETFs 

Bitcoin ETFs, approved by the SEC in early 2024, have attracted over $30 billion in inflows. BlackRock and Fidelity lead the charge, collectively holding 6% of Bitcoin’s market supply.

• BlackRock’s IBIT ETF alone saw $31.74 billion in inflows, boosting confidence among retail and institutional investors.

2. Regulatory Support From Trump’s Pro-Crypto Outlook 

The pro-crypto stance of President-elect Donald Trump is another catalyst. Key initiatives include:

• Plans for a U.S. national Bitcoin reserve.
• Shifting crypto regulation to the Commodity Futures Trading Commission (CFTC).

This shift has created a favorable regulatory environment, encouraging further adoption.

3. 2024 Bitcoin Halving

The April 2024 Bitcoin halving reduced mining rewards from 6.25 BTC to 3.125 BTC, tightening supply. Historically, halvings have preceded significant price surges, and this cycle appears no different.

Read more: The History of Bitcoin Bull Runs and Crypto Market Cycles

Despite the bullish momentum, Bitcoin faces potential hurdles:

• Market Volatility: Bitcoin is known for its significant price swings, which can lead to sharp corrections even during bullish cycles. In 2021, Bitcoin experienced a sharp drop from $64,000 to below $30,000 within weeks due to profit-taking and fears of overvaluation.With Bitcoin’s rapid rise past $100,000, any speculative excess could trigger short-term sell-offs as traders lock in profits.
• Regulatory Risks: While regulatory clarity has driven much of Bitcoin’s 2024 rally, any reversal or delay in pro-crypto policies could dampen sentiment. A shift in focus away from crypto-friendly initiatives by President-elect Donald Trump’s administration could create uncertainty. Delays in approving additional Bitcoin ETFs or sudden enforcement actions against major crypto firms could negatively impact Bitcoin and the overall crypto market’s performance. 
• Macroeconomic Factors: Bitcoin’s appeal as a hedge against inflation and fiat devaluation could be tested by macroeconomic uncertainties. The Federal Reserve’s recent rate cuts have been favorable for risk assets, but unexpected rate hikes to combat inflation could pressure Bitcoin. Ongoing conflicts or economic sanctions can lead to sudden shifts in investor behavior, favoring traditional safe havens like gold over Bitcoin. A global economic slowdown could reduce liquidity, forcing investors to pull out of speculative assets, including Bitcoin.
• Potential Black Swan Events: Unforeseen catastrophic events have previously disrupted the crypto market, and similar occurrences could pose risks in the future. For instance, the Terra (LUNA) crash in 2022 wiped out over $40 billion in value, triggering widespread liquidations across the crypto ecosystem. The FTX collapse, one of the largest crypto exchanges, caused a liquidity crisis and led to significant market-wide losses. Concerns over the stability of major crypto platforms, including custodial wallets and exchanges, could resurface. Hacks, security breaches, or mismanagement of large institutional Bitcoin holdings could erode investor trust. Sudden regulatory bans or unfavorable rulings in major economies, such as the U.S. or the EU, could spark panic selling.

Bitcoin’s price trajectory in 2024 is shaped by strong institutional adoption, favorable regulatory changes, and its post-halving supply dynamics. Analysts agree that six-figure prices are here to stay, with predictions pointing to $124,000–$250,000 by 2025.

Bitcoin’s path to $150,000 is paved with optimism, but challenges remain. Analysts believe the combination of institutional adoption, regulatory clarity, and macroeconomic conditions will shape its trajectory.

Whether Bitcoin ends 2024 at $124,000, $150,000, or beyond, one thing is clear: the crypto market’s flagship asset is poised for continued growth, making it a focal point for investors worldwide.

Stay tuned to KuCoin News for the latest updates on Bitcoin and the broader crypto market!