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Analysts Predict Bitcoin Surpassing $220K; Max Keiser Foresees $50K Surge This Week
- Max Keiser predicts Bitcoin will reach USD $50,000 within a week and foresees a rise to USD $220,000 by the first quarter of 2024.
- Scott Melker predicts Bitcoin will reach USD $240,000 during its current cycle, basing his forecast on the cryptocurrency’s performance in previous halving cycles.
- CoinGecko have compiled various expert predictions on Bitcoin’s post-2024 halving price, showing a wide range from Bloomberg’s USD $100,000 to Ark Invest’s USD $1.5 million.
Bitcoin to Reach $220k By Q1?
After falling below USD $39k (AUD $59) in the recent crypto flash crash, Bitcoin is now recovering and racing past the USD $43.5k (AUD $65.5) mark. And of course, as is usually the case, bulls are back with wild price predictions.
Bitcoin maxi and Bitcoin advisor to El Salvador, Max Keiser, has probably one of the most bullish scenarios for BTC. He posted to his followers on X (formerly known as Twitter) that he believes Bitcoin will reach USD $50,000 (AUD $75,000) by the end of the week.
You heard that right – 50k by the end of this week. While no one knows the future, not even Mister Keiser; it is technically possible that Bitcoin can reach this number by the end of the week. Is it realistic? May you be the judge of that for yourself.
But Mister 50k wasn’t satisfied with just 50k by week’s end; he also graced us with his 2024 quarter one prediction. If you have any money in Bitcoin, you better take a seat before you hear his numbers “in play.”
$50,000 this week! New ATH’s Q1, 2024 $220,000 in play.
Max Keiser That’s right, USD $220k (AUD $332k) is on the cards within the next two months, if you believe his prediction, that is.
Bitcoin to Reach $240k By End of the Cycle?
Former DJ and now Investor with 140k subscribers on YouTube, Scott Melker, can top this prediction, with a whopping USD $240k (AUD $362k). But here is the thing, unlike Max “50k this week” Keiser, Melker allows for a little more time to reach this still very bullish target. The Wolf Of All Streets believes BTC will hit that number sometime this cycle, based on past performance in previous halving cycles.
I know it might seem like hyperbole to talk about bitcoin being $170,000 or $220,000 or even, one day, $1 million. But if it ain’t broke, don’t try to fix it. This cycle has worked in the past and until I see it not working in the future, I’m going to bet that we see bitcoin over $200,000.
Scott Melker CoinGecko Dusts Off the Crystal Ball
Meanwhile, market analysts over at popular crypto data aggregator CoinGecko have conducted a little study of their own, collating industry experts’ insights into the Bitcoin price, post-halving in 2024.
The numbers are in the table below for our perusal, just that much: there is a huge difference between the lowest estimate (Bloomberg’s USD $100k/ AUD $151k) and the highest (Ark Invest’s USD $1.5m/ AUD $2.27m). No matter what side of the aisle you are on, it’s going to be an interesting ride – so strap yourself in tight.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
