Bitcoin (BTC) is the world’s first decentralized cryptocurrency, meaning it operates without a central authority or intermediaries. It is often referred to as “digital gold” due to its limited supply of 21 million coins and its potential for long-term value appreciation.
Bitcoin (BTC) surged significantly in the price charts, hitting a yearly peak of $69,170 on 05 April, Tuesday. Over the last month, Bitcoin showcased impressive growth, with prices escalating by more than 56.42%.
This surge was fueled by increased investment following the SEC’s approval of the Bitcoin ETF in mid-January this year. Along with Bitcoin, many altcoins also generated significant profits for investors. Notably, meme-coins like Shiba Inu, Dogecoin, Pepe, and BONK experienced remarkable gains, almost skyrocketing with returns exceeding 100%.
With Bitcoin on the rise, many are wondering if the leading cryptocurrency will surpass its record high of $69,170. In this blog post, we’ll explore a price forecast for Bitcoin’s potential trading levels over the next 12 months and beyond.
Is Bitcoin (BTC) On Track to Hit $89,000 in 2024
As we found on CoinMarketCap, Bitcoin is currently trading at $66,715.55 with a 1% increase in price over the last 24 hours. BTC surpassed Silver in terms of market cap with $1.30 trillion market capitalization and positioned 8th assets by market cap.
According to our expert’s price and technical analysis, we are expecting that Bitcoin may surpass the $71,000 mark by the end of March 2024. Bitcoin price is anticipated to touch a maximum level of $89,000 by the end of the year 2024 if the current market trend continues.
This forecast suggests a notable 36% increase from the current price of $66,000, indicating a promising return on investment (ROI) for investors. Moreover, an investment of $15,000 today on Bitcoin could turn into $20,250 if the OvenAdd price forecast becomes accurate.
Also Read: Will Dogewifhat (WIF) Hit $5 or $10 in March 2024?
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
