Will Bitcoin Hit $1 Trillion Market Cap in 2024?

Key Takeaways:

• The Bitcoin price is displaying extreme strength as it appears to be poised to mark a bullish close for the year, paving the way for a bullish start of 2024.
• The bullish influence could prevail throughout 2024 as multiple events like Halving, ETF approval, etc. are expected.
• To regain the $1 trillion market capitalization, Bitcoin is required to reach a minimum value of $50,000, while bears also appear to be waiting for this milestone.

Factors that Could Help BTC Price to Hit $1 Trillion in 2024

Bitcoin price is surging high! The global markets have jumped in favor of the bulls, aiming for a bullish close for the year. What lead to a fine rise in the price and will the bullish momentum prevail in 2024?

Itis quite evident that Bitcoin price has a larger impact from external factors other than varying levels of demand and supply. The factors mentioned below have held the token above the crucial support and hence triggered a fine upswing in the coming days.

• Bitcoin Up by Over 140% in 2023

Bitcoin is heading to close the yearly trade on a bullish note as the price has soared by over 140% in a year, raising the possibility of the crypto hitting the $1 trillion market cap very soon. 

• BTC Heading Close to the Price Target

The current market capitalization is around $838.41 billion, and to reach $1 trillion, the BTC price is required to surge by over 30% to gain a value of around $50,000, considering approximately 20 million tokens in circulation

• • Positive Sentiments Mounts Around Bitcoin ETF

The current price rally is undoubtedly driven by investors’ anticipation of the first spot Bitcoin ETF. While the filing had lifted the BTC price beyond its bearish claws, an approval may set up a fine bull run, which may propel the price beyond $50,000

• Bitcoin Halving History 

Besides, a major factor that may fuel the BTC price rally is the upcoming Bitcoin halving. Here, the token’s circulation will be reduced by halving the miner’s rewards, which they get after validating a transaction and adding the block to the chain. The halving has historically been proven to be a bullish event, and hence a similar impact is expected in the coming days.

• Global Regulatory Factors

Alongside, global factors have also had a larger impact on the price oflet. The anticipation of spot ETFs legitimizing Bitcoin in the financial world may attract fresh capital ahead. This could mark Bitcoin as a regulated and approved product that may be quite easy to trade

• The US Inflation and Interest Rate Cuts

The inflation rate in the US had reached a decade high, and a constant effort from the authorities managed to lower the levels in recent months by hiking interest rates. However, a cut in interest rates, which is expected to occur in 2024, may prove to be the biggest catalyst for Bitcoin.

Read On: How to Buy Bitcoin in India?

Bitcoin Technical Analysis

Source: Tradingview

• Ever since the BTC price has risen above the consolidation, Bitcoin is trading within a rising parallel channel, aiming to reach the upper resistance 
• The recent rebound from the lower support indicates the inbuilt strength among the bulls, which has uplifted the momentum within the markets
• Besides, the RSI is maintaining above the average levels, which indicates the price will hold an elevated trend until the yearly close
• However, the price may remain within the ascending consolidation until it marks the upper resistance at $48,282.
• If the bulls sustain at this levels, a rise beyond $50,000 could be imminent in the first few weeks of 2024 and maintain a healthy upswing until the end 

Know More: Can Bitcoin Halving Initiate a Bull Run in 2024?

Bitcoin Price Prediction 2024

The Bitcoin price rally remains under bullish influence in the long term, regardless of the prevailing short-term pullbacks. The journey from around $16,000 to the yearly highs of close to $45,000 reflects the potential of the token to overcome the selling pressure. Hence, after withstanding the bear market of 2022 and a recovery in 2023, the BTC price is set to trigger a strong upswing in 2024. 

Moreover, the markets are expected to be highly impacted by the factors mentioned above, as spot ETF approval, halving, etc. may attract fresh liquidity within the space. Besides, the halving has historically been a bullish event. The BTC price is expected to trigger a bull run, hitting a new ATH. the Bitcoin prediction 2024 is bullish with a price range between $72,000 and $75,000. 

Read More About: Bitcoin Price Prediction

What will be the Maximum Price of Bitcoin in 2025?

The bulls are expected to have gained acute strength after the price underwent a massive run in 2024. The BTC price could be in the middle of a bullish trend in the first few weeks of 2025, aiming to mark the $100K milestone and a new ATH for the prevailing bull run. The optimism surrounding the token may eventually outweigh the bearish pressures as the selling volume may fail to mount, keeping the upswing intact for the first half of the year. 

The BTC price is expected to surpass $80,000 for the first time, marking new highs beyond $85,000 in the first few days of H2. This move is expected to trigger a strong bearish move as the buyers are expected to get exhausted. Hence, a steep correction may be triggered as the selling volume elevates, which may persist until the end of the year. The price may trade between $75,000 and $78,000 by year-end. 

What Will be the Price of 1 Bitcoin in 2030?

The Bitcoin price has been following a pattern since its inception. The price usually follows a 4-year cycle, where the first year could be under a bearish influence, the next 2 years indicate the recovery phase, and the last year indicates a bull run. Considering the above pattern, the BTC price may have undergone another bull run between 2026 and 2028. Further, the price may witness yet another bear market in the first half of 2029, which may be followed by a strong rebound. 

The year 2030 is believed to ascertain a strong recovery phase that may further transform into a healthy upswing. As the trade advances, the rally’s strength may increase, leading to substantial growth in the value. By the end of the year, the price may trade close to the $100K milestone, while an extended bullish trend may mark the highs around $110K to $115K. 

Should You Invest in Bitcoin Right Now?

Bitcoin has displayed a spectacular rally with huge gains since the beginning of the year. Despite this, it may not be too late to join the party, as the token is believed to manifest a massive rally in the coming days. The BTC price has experienced a prolonged crypto winter, and hence a rebound that ignited a few months ago could trigger a healthy upswing in the future. 

With this the question arises that if the price has already soared over 100%, will the BTC price rise again?

The token that shares more than 60% of the global market cap will likely trigger a fine ascending trend. However, deep research on the fundamentals is required before investing in Bitcoin or any other token, along with a deep price analysis. This may help with better decision- making as well as risk management.