AI Cryptocurrency Insights: Bitcoin Price Forecast for Year-End 2024
Friday, 11 October 2024, 12:02
AI Cryptocurrency Analysis for Bitcoin's Year-End Predictions
Perplexity AI has consolidated various expert analyses to formulate predictions for Bitcoin's (BTC) price by the end of 2024. With sources from LongForecast, USA Today, VanEck, and Swan Bitcoin, the AI provides a comprehensive view into the potential movements of BTC.
Optimistic Predictions from Industry Analysts
- Price Range: Bitcoin could trade between $80,000 and $100,000 by the end of 2024, as forecasted by Anthony Rousseau from TradeStation.
- Market Drivers: Rousseau attributes this bullish outlook to the Federal Reserve's shift towards an accommodative monetary policy.
- An additional bullish forecast from Bernstein sees potential highs nearing $200,000 per BTC by 2025.
Bearish Scenarios to Consider
- LongForecast anticipates only a slight increase to $72,499.
- VanEck highlights the volatility with predictions of Bitcoin trading between $65,000 and $70,000 in a bearish scenario.
Currently, Bitcoin trades around $61,150, holding above the 50-week exponential moving average, signaling potential volatility ahead.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.