{"id":10693,"date":"2024-02-14T13:18:41","date_gmt":"2024-02-14T11:18:41","guid":{"rendered":"https:\/\/forklog.com\/en\/experts-revise-bitcoin-forecasts-for-2024\/"},"modified":"2024-02-14T13:18:41","modified_gmt":"2024-02-14T11:18:41","slug":"experts-revise-bitcoin-forecasts-for-2024","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/experts-revise-bitcoin-forecasts-for-2024\/","title":{"rendered":"Experts Revise Bitcoin Forecasts for 2024"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Former BitMEX CEO Arthur Hayes closed March bitcoin puts with a strike of $35,000 and anticipates a new ATH.<\/li>\n<li>CryptoQuant pointed to $104,000\u2013112,000 as a target, with $55,000\u201359,000 in a pessimistic scenario.<\/li>\n<li>SkyBridge Capital founder Anthony Scaramucci urged buying digital gold at current levels without hesitation.<\/li>\n<\/ul>\n<\/div>\n<p>Former BitMEX CEO Arthur Hayes has abandoned his previous forecast of bitcoin falling below $35,000 and now anticipates a new all-time high this year.<\/p>\n<p><iframe loading=\"lazy\" width=\"1250\" height=\"703\" src=\"https:\/\/www.youtube.com\/embed\/ysriqBlppcU\" title=\"WHY Bitcoin Could Smash NEW HIGHS VERY SOON! (What Altcoins Will Do)\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p>Earlier this year, Hayes highlighted several factors negatively impacting the price of the leading cryptocurrency:<\/p>\n<ul class=\"wp-block-list\">\n<li>the policy of the <span data-descr=\"Federal Reserve System of the USA\" class=\"old_tooltip\">Fed<\/span> and &#8220;excessive&#8221; inflation;<\/li>\n<li>conflicts in the Middle East, including clashes in Yemen;<\/li>\n<li>the US presidential elections.<\/li>\n<\/ul>\n<p>At that time, he revealed that he had purchased put options expiring on March 29 with a strike of $35,000.<\/p>\n<p>In an interview with Crypto Banter, Hayes noted that he no longer expects a significant correction in the foreseeable future.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;[I] am definitely optimistic until the end of the year. I think bitcoin will reach a record $70,000 by the end of the year,&#8221;<\/em> the expert emphasized.<\/p>\n<\/blockquote>\n<p>He explained the purchase of puts by anticipating stress in the US banking sector and a repeat of the March 2023 situation. Hayes expected a price drop below $40,000.<\/p>\n<p>In late January, <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-tests-40000-support-level\">this indeed occurred<\/a>, but the lack of further downward momentum eventually forced him to close the position due to the &#8220;killing premium,&#8221; he admitted.<\/p>\n<p>The specialist still expects central banks to resume fiat money issuance due to issues in the commercial real estate sector, which could lead to further financial institution collapses.<\/p>\n<h2 class=\"wp-block-heading\"><strong>CryptoQuant Anticipates a Doubling<\/strong><\/h2>\n<p>CryptoQuant CEO Ki Young Ju is even more optimistic than Hayes. According to the expert, digital gold could rise to $104,000\u2013112,000 this year due to high interest in spot bitcoin ETFs.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> could reach $112K this year driven by ETF inflows, worst-case $55K.<a href=\"https:\/\/t.co\/HrkV3TU8Ul\">https:\/\/t.co\/HrkV3TU8Ul<\/a> <a href=\"https:\/\/t.co\/jBn6HWpt9b\">pic.twitter.com\/jBn6HWpt9b<\/a><\/p>\n<p>\u2014 Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1756498625205502301?ref_src=twsrc%5Etfw\">February 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The specialist extrapolated January inflows into products ($9.5 billion) for the entire year and calculated a realized capitalization increase of $76\u2013114 billion. In his view, the growth momentum will be sustainable despite outflows from the <span data-descr=\"Grayscale Bitcoin Trust ETF\" class=\"old_tooltip\">GBTC<\/span>.<\/p>\n<p>In the worst-case scenario, the CryptoQuant CEO expects the price of the leading cryptocurrency to rise to $55,000\u201359,000.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Is It Too Late to Buy?<\/strong><\/h2>\n<p>SkyBridge Capital founder Anthony Scaramucci urged not to hesitate about opening a long position on bitcoin, despite the price holding above $50,000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">With <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> back over $50k, average investor again wondering: &#8220;did I miss buying opportunity?&#8221; Answer is hard &#8220;no.&#8221; Interest rates falling, spot ETFs driving billions in new flows, halving two months away. Face-ripping rally incoming IMO.<\/p>\n<p>\u2014 Anthony Scaramucci (@Scaramucci) <a href=\"https:\/\/twitter.com\/Scaramucci\/status\/1757099107921867084?ref_src=twsrc%5Etfw\">February 12, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The average investor is again wondering: &#8216;Did I miss the buying opportunity?&#8217; It&#8217;s hard to say &#8216;no.&#8217; Interest rates are falling, spot ETFs are attracting billions in new investments, and the halving is two months away. In my opinion, a &#8216;face-ripping&#8217; rally is coming,&#8221;<\/em> the financier wrote.<\/p>\n<\/blockquote>\n<p>Earlier, slower-than-expected inflation led to the postponement of the Fed&#8217;s key rate cut expectations from May to June, but it had limited impact on bitcoin.<\/p>\n<p>Previously, options traders bet on a digital gold rally to the $65,000 level in the second quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former BitMEX CEO Arthur Hayes closed March bitcoin puts with a strike of $35,000 and anticipates a new ATH. CryptoQuant pointed to $104,000\u2013112,000 as a target, with $55,000\u201359,000 in a pessimistic scenario. SkyBridge Capital founder Anthony Scaramucci urged buying digital gold at current levels without hesitation. Former BitMEX CEO Arthur Hayes has abandoned his previous [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1254,1193,18,1205,569,1150,1138],"class_list":["post-10693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-anthony-scaramucci","tag-arthur-hayes","tag-bitcoin","tag-cryptoquant","tag-etf","tag-news-plus","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10693"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10692"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}