Research firm CCData predicts that: Bitcoin: may reach a new all-time high in 2024. He informed about it CNBC:. This estimate by CCData is based on historical trends, particularly price developments after so-called semi-finished products.
Bitcoin halving occurs approximately every four years. It halves the rate at which new Bitcoin is created. This reduces the supply of new Bitcoin to the market. The last semester took place in April 2024. In the past, halvings have caused bitcoin prices to rise for 12 to 18 months after the event.
New US crypto ETFs could fuel demand for Bitcoin
According to CNBC, CCData gave another reason for the supposed increase in Bitcoin prices. The impending launch of Ethereum ETFs in the US could boost demand for cryptocurrencies.
Bitcoin is currently trading well below its highs
On BTC Echo: At 1:15 PM today, Bitcoin was trading at $60,224 (just under €56,000). It peaked in mid-March this year at $73,738. To reach this value again, Bitcoin would need to rise a good 22 percent from its current level. According to BTC Echo, there are currently 19,719,375 bitcoins in the market out of a possible total of 21,000,000.
Besides Bitcoin, there are other cryptocurrencies like Ethereum, Tether, BNB and Solana. But they all play a smaller role than Bitcoin.
