How much will Bitcoin and Ethereum be worth in 2024?
I forecast BTC and ETH to reach $150,000 and $10,000 each in 2024
Bitcoin (BTC) was the best-performing major asset of 2023.
And I predict it will be another profitable year for crypto investors in 2024.
Here’s why…
When bitcoin started in 2009, miners were earning 50 bitcoins every 10 minutes. Handing out 7,000 bitcoins per day was a superb way to bootstrap growth, but it was unsustainable.
There are “halving” schedules programmed into bitcoin. Roughly every four years, miners’ rewards get cut in half. Hence the name “halving.”
In 2012, block rewards went from 50 to 25 BTC. Four years later, they were slashed to 12.5 BTC per block. The third halving happened in May 2020, with issuance being cut to 6.25 BTC per block.
This matters, as each halving coincided with a huge run-up in bitcoin’s price:
Bitcoin jumped 8,000% after the first halving. It almost quadrupled in the year following the second event. And it handed investors more than 7X gains after the most recent halving.
We’re 82 days out from the next bitcoin halving (April 20, 2024).
If the halving pattern holds (everything tells me it will), bitcoin will hit $150k in late 2024.
Ethereum (ETH) has outperformed bitcoin around every halving. This time won’t be different.
I think Ethereum will ultimately hit $10k in 2024.
