Bitcoin to hit $100,000 in 2024 

Bitcoin is anticipated to continue its rise until 2024, reaching new all-time highs of more than $100,000 per token, according to CNBC, citing industry analysts.

This year, the digital asset has increased by more than 160%, trading at $44,200 on Saturday, up from $16,500 at the start of the year.

“It appears that 2023 was a year to prepare for the upcoming run. However, the attitude is really positive for 2024 and 2025,” Ledger CEO Pascal Gauthier told CNBC.

In November 2021, Bitcoin reached a new high of approximately $69,000. However, approximately $1.4 trillion was taken out of the crypto market last year as a result of industry bankruptcies.

The collapse of FTX, the world’s second-largest crypto exchange at the time of its insolvency, sparked the crisis, with its creator, Sam Bankman-Fried, now facing over 100 years in jail after being guilty on seven charges of criminal fraud.

To add to the crypto sector’s woes, Binance CEO Changpeng Zhao pleaded guilty to criminal charges and stepped down as CEO as part of a $4.3 billion deal with the US Department of Justice last month.

The former CEO of the world’s largest cryptocurrency exchange faces up to ten years in jail for money laundering.

Experts also predict that the next Bitcoin halving, a mechanism to limit supply that occurs every four years and is due for late April 2024, will be another driver of price growth.

Standard Chartered Bank confirmed this month its April projection that Bitcoin will hit $100,000 by the end of 2024, if not sooner.