Bitcoin's Bullish Outlook: $90K by 2024?
Bitcoin Price Prediction: $90,000 by 2024?
According to CK (Changguang) Zheng, co-founder and CIO of ZX Squared Capital, Bitcoin's price could surge to $90,000 by the end of 2024. This bullish prediction is fueled by several factors, primarily the growing institutional interest driven by the anticipated approval of Bitcoin ETFs in the US.
Institutional Interest and ETF Approvals
Zheng argues that the approval of Bitcoin ETFs will significantly increase institutional investment in the leading cryptocurrency. This influx of capital, he believes, will be the catalyst for a substantial price increase. The anticipation surrounding ETF approvals is already generating excitement within the market.
Inflation and Bitcoin's Narrative
Furthermore, Zheng highlights the current inflationary environment as a key factor supporting Bitcoin's price. He states that Bitcoin's narrative has "never been better" due to global fiat currency inflation, positioning Bitcoin as a hedge against economic uncertainty. This narrative strengthens Bitcoin's appeal as a store of value.
Building on a Strong Foundation
While this prediction is bullish, it's important to remember that the cryptocurrency market is inherently volatile. However, this forecast builds upon several positive indicators, including increased institutional adoption and macroeconomic factors. Codeum, a leader in blockchain security and development, emphasizes the importance of secure smart contracts and robust tokenomics for the long-term health of the cryptocurrency ecosystem. Our services include:
- Smart contract audits
- KYC verification
- Custom smart contract and DApp development
- Tokenomics and security consultation
- Partnerships with launchpads and crypto agencies
For more insights and daily updates on market movements, follow this podcast: Markets Daily Podcast
Consensus 2024
Interested in further exploring the future of the digital landscape? Join Consensus 2024 in Austin, Texas, from May 29-31. Use code MD15 for a 15% discount. Register at consensus.coindesk.com.