Bitcoin Surpasses $48,000 Again: What Are the Predictions for the Peak in 2024?

cryptocurrency As the bull market heats up Bitcoin rose above $48,000 and Ethereum It regained the $2,500 level. Analysis of global exchange-traded products (ETPs) with digital assets as underlying collateral revealed a 5% growth in Total Crypto Assets Under Management (AUM) in January, rising from $49.5 billion to $52.0 billion, according to analysts at Fineqia International. .

The nine newly launched ETF products generated approximately $6.9 billion in inflows in January, partially offset by net outflows from the Grayscale ETF. Despite this, total flows resulted in a net inflow exceeding $1 billion for January.

“The light has turned green and investor traffic has started to move,” said Bundeep Singh Rangar, CEO of Fineqia. “More vehicles are joining the ETF path as their confidence in digital assets grows.”

In January, the price of BTC increased by 2.5% to $43,300 from $42,300 at the end of last year. The assets under management of ETPs, whose underlying asset is BTC, increased by 6.8% in January, rising from $35.6 billion recorded at the end of December 2023 to $38 billion. These figures highlight the significant net inflow observed in January, especially following the approval of BTC Spot ETFs.

According to Finder’s latest Bitcoin price prediction report, BTC is expected to peak at $88,000 in 2024. The majority of cryptocurrency and fintech experts (58%) expect the upcoming halving event to trigger a bull run. Nearly one in five panelists (18%) think the bull run will happen before the halving. 10% of panelists say the market will not enter a bull run until later in the year. However, 10% say there won’t be a bull run in 2024 and 5% are unsure if there will be one.

According to Finder’s Ethereum price prediction report, ETH is predicted to finish 2024 just slightly behind the all-time high (ATH) set in November 2021, with industry experts predicting ETH to reach a price of $4,887.

*This is not investment advice.