2024

Bitcoin

A company called CryptoQuant, which offers on-chain data and analysis, has projected the price of Bitcoin (BTC) to rise sharply by 2024.   
According to the company, if the inflows from spot Bitcoin exchange-traded funds (ETFs) continue at the current pace, the price of <a href="https://optimisus.com/news/crypto-news/bitcoin-btc-surges-for-the-7th-consecutive-day-currently-trading-above-the-48k-mark/">BTC</a> could reach $112,000 this year. The firm added that the worst-case price for BTC is $55,000, still a 15% rise over its current value.   
The forecast was based on how inflows affected the market cap of BTC and a ratio that gauges its valuation.   
According to Ki Young Ju, CEO of CryptoQuant, spot Bitcoin ETF inflows into the Bitcoin market have reached $9.5 billion per month, potentially increasing the realized cap by $114 billion annually.   
Since their debut almost a month ago, Bitcoin ETFs have amassed more than 192,000 bitcoins in holdings as of this Friday.   
This indicates a sharp rise in interest in bitcoin, which may eventually lead to a price increase. Additionally, investors find spot ETFs more enticing than futures-based ETFs due to their lower fees and risks.   
The price of Bitcoin (BTC) has <a href="https://optimisus.com/news/crypto-news/bitcoin-btc-surges-past-50000-for-the-first-time-since-december-2021/">just surpassed $50,000</a> for the first time since December 2021. 
The post <a href="https://optimisus.com/news/crypto-news/this-company-predicts-bitcoin-price-to-reach-112000-in-2024/">This company predicts Bitcoin price to reach $112,000 in 2024</a> appeared first on <a href="https://optimisus.com">Optimisus</a>.

This company predicts Bitcoin price to reach $112,000 in 2024

Optimisus

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