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The Most Interesting Bitcoin (BTC) Price Predictions to Watch in 2024

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TL;DR

  • Bitcoin’s Bullish Forecasts: Enthusiasts and experts, including Adam Back, envision Bitcoin surpassing gold’s market cap, with potential peaks reaching as high as $700,000 per coin.
  • Bearish Perspectives and Risks: Contrarily, figures like Peter Schiff express skepticism, cautioning about a potential bubble and decline in Bitcoin’s value, especially with the launch of a spot Bitcoin ETF.
  • Bitcoin’s Strong Performance in 2023: Despite challenges, including banking crises and global tensions, Bitcoin has shown resilience, markedly increasing in value throughout the year.

BTC Bulls Envision Massive Peaks

Bitcoin’s impressive price increase as of late has given experts, analysts, and prominent figures the opportunity to speculate where is the asset headed next. Somewhat expected, bulls have been most vocal, with some of them predicting a new all-time high in the near future.

One example is Adam Back – a well-known British cryptographer and CEO of Blockstream. In his view, BTC has the chance to surpass the market capitalization of gold while its valuation could explode to the astonishing $700,000 per coin. He believes such a scenario might occur during the next potential bull run, possibly triggered by the upcoming halving (scheduled for next spring).

The crypto analyst James Van Straten also thinks BTC could flip gold and thus witness a price jump of 4,000%. It is worth mentioning that Bitcoin’s market cap currently stands at almost $850 billion, whereas the yellow metal has $13.8 trillion, meaning the digital asset has a long way to go before hitting such a milestone.

Max Keiser – an American filmmaker and outspoken proponent of the primary cryptocurrency – and Robert Kiyosaki – the author of the book “Rich Dad, Poor Dad” – are among the optimists, too. 

The former recently claimed that BTC could be on the verge of experiencing a so-called “God Candle” that could take its price to as high as $100,000. Kiyosaki predicted a grim future for the US dollar in 2024 and a possible Bitcoin rise toward $120,000.

Those willing to observe additional BTC forecasts coming from prominent figures could take a look at our dedicated video below:

How About a Bearish Scenario?

Despite BTC’s success this year, some people seem they would never change their negative stance on the asset. Such is the case with Peter Schiff – an American stockbroker and one of Bitcoin’s harshest critics.

At the start of December, he warned that BTC’s uptrend could be attributed to the speculative fervor surrounding the launch of a spot Bitcoin ETF in the USA. In his view, the excitement would soon evaporate, describing it as a bubble set to burst. As a result, BTC might experience a spectacular plunge, while gold (Schiff’s favorite investment asset) could thrive.

He doubled down on that thesis a few weeks later, claiming that the introduction of a spot Bitcoin ETF “will be historically insignificant.” Schiff thinks that the launch of such a financial product would bring minimal investor demand and create a “sell the news” event.

Bitcoin (BTC) Has Risen Like a Phoenix This Year

The primary cryptocurrency has once again demonstrated its remarkable resilience. It started the year at around $16,500, shuttered by the devastating bear market in 2022, but it seems like the finish will be well above the $40K level. Currently, BTC is worth approximately $42,500 (per CoinGecko’s data), meaning a 160% increase.

BTC Price
BTC Price, Source: CoinGecko

What’s more spectacular is how the digital asset managed to overcome several negative events, rising stronger after each one of them. Such an example is BTC’s performance amid the severe banking crisis in the USA in the spring. Recall that leading banks like Silicon Valley Bank and Signature Bank were shut down after depositors withdrew great amounts of money out of fear of insolvency. 

And while the finance sector was gasping, this was not the case with the crypto industry, particularly Bitcoin. The asset’s valuation soared from $20,000 to above $30,000 shortly after the aforementioned bankruptcies.

The intensified conflict between Israel and Palestine has also not managed to impact BTC negatively. In fact, the asset’s price climbed from around $28,000 on October 7 (the day when Hamas launched a major attack on Israel, killing thousands of people and taking numerous hostages) to almost $35,000 by the end of the month.

Binance’s issues with the US Department of Justice are another example of BTC’s resilience. As CryptoPotato reported at the end of November, the world’s largest cryptocurrency exchange agreed to pay a whopping $4.3 billion fine for allegedly violating certain anti-money-laundering procedures, whereas CEO Changpeng Zhao (CZ) resigned from his post.

Bitcoin’s price slightly dipped from $37,000 to $36,000 following the news but started another rally shortly after, which took it to $44K two weeks later.

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Cryptocurrency

Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

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TL;DR

  • Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
  • Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
  • Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.

Large Withdrawals and Whale Activity

Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours. 

Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.

One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.

Major ETH Holders Offload Millions Amid Price Rally

In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.

A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months. 

Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578. 

Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.

Network Activity on the Rise

CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.

Ethereum (ETH) Tokens Transferred (Total)
Source: CryptoQuant

Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period. 

At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.

Ethereum (ETH) Staking Inflow Total
Source: CryptoQuant

In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.

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Massive DOGE Whale Activity Hints at $1 Breakout

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TL;DR

  • Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
  • A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
  • DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.

Price and Market Moves

Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion. 

Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.

On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.

Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.

Heavy Whale Buying and Large Transfers

As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community. 

Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.

Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.

Sentiment Building

Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding, 

“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”

With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.

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Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

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XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.

Technical Analysis

By ShayanMarkets

The USDT Pair

On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.

Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.

However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.

This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.

The BTC Pair

Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.

This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.

That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.

 

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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