Bitcoin Could Reach $100,000 in 2024, Novogratz Forecasts

Bitcoin (BTC), the pioneering cryptocurrency, has recently been the subject of intense scrutiny and discussion, especially regarding its upcoming price movements. Amidst market volatility and price swings, notable figures in the cryptocurrency space have shared their views and predictions, shedding light on how Bitcoin’s value could move in the coming years.

On March 6, Bitcoin saw a resurgence, hitting a daily high of $67,716. That’s rebounding from a 13% drop attributed to for-profit trading following its last all-time high. Despite this brief setback, on-chain data points to persistent bearish catalysts, with Bitcoin briefly falling to a weekly low of $59,548. Currently, Bitcoin is trading at $66,317.82, reflecting a 5% weekly increase.

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Novogratz’s bullish outlook

In a recent interview with Fox Business, Michael Novogratz, a prominent figure in the cryptocurrency sphere, shared his optimistic view of Bitcoin. Novogratz expressed confidence in Bitcoin’s potential to surpass the $100,000 mark within the next year. His prediction comes against a backdrop of price volatility. BTC experiences rapid rises to new highs, followed by significant retracements. Novogratz highlighted the likelihood of Bitcoin stabilizing between $58,000 and $69,000. This before embarking on a more pronounced upward trajectory.

Also Read: Bitcoin (BTC) Expected to Climb Above $87,000: Here’s When

Kiyosaki’s advocacy for Bitcoin

Renowned author of “Rich Dad Poor Dad”, Robert Kiyosaki, has always defended BTC as a solution to the deterioration of the financial landscape and banking challenges in the United States. Kiyosaki advises individuals to invest in BTC, gold and silver. His forecast matches the sentiments of other Wall Street and cryptocurrency experts, such as Standard Chartered, Tom Lee of Fundstrat and Michael van de Poppe, who predict that the price of Bitcoin could surpass $100,000 in 2024.

In a recent statement, Kiyosaki reiterated his optimistic stance towards BTC, setting a new target of $300,000 by 2024. He stressed the importance of taking proactive steps, emphasizing that procrastination is a trap fluent. “It is crucial to get started, even with a modest investment of $500,” he emphasized.

As BTC continues to captivate the attention of investors and enthusiasts around the world, opinions from influential voices in the cryptocurrency space offer valuable perspectives on the digital asset’s potential trajectory. However, it is essential to approach these predictions with caution, given the volatility and unpredictability inherent in the cryptocurrency market. Nonetheless, optimism regarding Bitcoin’s long-term prospects remains strong, fueled by growing institutional interest and adoption, as well as its perceived role in protecting against economic uncertainty and inflation.

Also read: 3 reasons why investors are betting on Bitcoin and not the US dollar

reference: watcher.guru

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