In a recent survey conducted by Finder, a prominent cryptocurrency news and insights platform, optimism abounds among experts in the crypto industry regarding the future of Bitcoin. The survey, which gathered insights from 40 crypto founders, executives, and educators, paints a picture of bullish sentiment and high expectations for the leading cryptocurrency.
According to the survey findings, an overwhelming 78% of respondents anticipate Bitcoin to reach a new all-time high within the next 12 months. This optimistic outlook is supported by various factors and projections, indicating a significant upward trajectory for Bitcoin’s value in the coming years.
The consensus among the panel of experts suggests a positive trend for Bitcoin’s price, with projections indicating a rise to $77,423 by the end of 2024. Looking further ahead, predictions extend to $122,688 by 2025 and a remarkable $366,935 by 2030. These projections signify a notable increase in optimism compared to previous surveys, highlighting the growing confidence in Bitcoin’s long-term potential.
Key factors contributing to the bullish outlook include increasing interest from major companies and institutional investors, the approval of spot ETFs making the market more accessible, and the anticipated halving event, which is expected to reduce Bitcoin’s new supply rate.
However, amidst the prevailing optimism, some voices of caution emerge. Skeptics like John Hawkins of the University of Canberra warn against viewing Bitcoin as a speculative bubble, emphasizing the potential for temporary gains from new spot ETFs. Hawkins draws parallels to past events, citing similar claims made about BTC futures ETFs in 2021 that ultimately led to a subsequent price crash.
Despite varying projections and viewpoints, the majority of experts advocate for purchasing Bitcoin at its current price, citing the potential for long-term growth driven by ETF approvals and increasing adoption by financial institutions. Jason Lau of OKX highlights the importance of regulatory approval and institutional adoption in shaping Bitcoin’s future, foreseeing a new wave of inflows over time.
Conversely, Jeremy Cheah of Nottingham Trent University advises caution, predicting a modest correction in Bitcoin’s price trajectory. However, the overall sentiment remains overwhelmingly positive, with over half of the panelists viewing Bitcoin as underpriced, presenting a favorable buying opportunity for investors.
Diverse opinions exist among the panelists regarding the trajectory of Bitcoin’s price. Some foresee a surge to six figures within the year, while more conservative estimates suggest a potential decline from its current price of around $44,000.
Key factors contributing to this positive outlook include increasing interest from major companies and institutional investors, the approval of spot ETFs enhancing market accessibility, and the anticipated halving event reducing Bitcoin’s new supply rate, as highlighted by Kadan Stadelmann, CTO of Komodo. Daniel Polotsky, founder and chairman of CoinFlip, adds possible interest rate cuts by the Federal Reserve and geopolitical instability as additional catalysts for Bitcoin’s price increase.
Despite the overall bullish sentiment, skepticism remains, with some, like John Hawkins of the University of Canberra, viewing Bitcoin as a speculative bubble that may only experience temporary gains from new spot ETFs.
Looking ahead, the panelists identify the 2024 halving as a potential trigger for the next major crypto bull run, supported by a combination of regulatory approvals, macroeconomic factors, and evolving market narratives. The consensus on a new all-time high timeline settles around October 2024, with only a minority of respondents expressing doubt about Bitcoin’s ability to breach $69,000 again.
In conclusion, the findings of the Finder survey reflect a prevailing sense of optimism and confidence in Bitcoin’s future among experts in the crypto industry. While uncertainties and differing opinions persist, the overall outlook remains positive, with the majority of respondents anticipating significant growth and a new all-time high for Bitcoin within the next 12 months.
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