Can Bitcoin reach $100,000 mark in 2024? Here's what experts say
Bitcoin (BTC) has attracted tech enthusiasts and investors alike, often making headlines with its dramatic price movements. Its journey from trading at just $1 in 2011 to surpassing $73,000 by 2024 has been a rollercoaster of meteoric rises and significant declines.
Historically, Bitcoin has been synonymous with volatility, witnessing notable fluctuations in its price over the years. In 2012, it saw modest gains, starting the year around $13 and closing at $732 by the end of 2013. The extraordinary surge in 2017 saw Bitcoin's price skyrocket from around $1,000 to a peak of $19,188 by December. This momentum carried into 2021, smashing previous records as it surpassed $60,000 in April, peaking at $64,895 mid-month, before declining to below $20,000 by mid-2022.
However, a resurgence in 2023 saw Bitcoin climbing steadily from $16,530 at the year's start to $42,258 by the end. The approval of Bitcoin Spot ETFs in early 2024 fueled another rally, propelling its price above $70,000 by March, with highs reaching $73,750 on exchanges.
Meanwhile, recent weeks have seen Bitcoin under downward pressure, dropping to the $67,500 level. This decline reflects investor caution ahead of a crucial U.S. inflation report and Federal Reserve policy decision,
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