Top Analyst Explains 4 Reasons Why Bitcoin and Ethereum Will Hit At Least $150k and $20k in 2024
In a recent Twitter thread, user @ardizor laid out his bullish case for why Bitcoin and Ethereum could see huge price increases by 2024. He pointed to four key factors that could fuel major growth.
Halving Event cycles
The first factor is the cyclical nature of crypto price movements related to Bitcoin’s halving events, according to @ardizor. As he explains, “Halving is basically a reduction of emissions by half every 4 years. The next one is scheduled for April 2024.” He notes these halving cycles have happened regularly and are like market cycles in other assets.
Potential Spot ETF Approval
The second growth driver highlighted is the possible approval of a Bitcoin spot ETF in early 2024. @ardizor suggests this could “Skyrocket the demand for BTC and ETH” as well as “Establish crypto as a regulated instrument in traditional finance (TradFi).” While anticipation may already be priced in, approval would still be a hugely positive sign.
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Show more +Changes in Federal Reserve Policy
Next, @ardizor points to potential shifts in Federal Reserve policy by 2024 that could “reintroduce stimulus, giving BTC a boost and mirroring its 2021 trajectory.” As a reminder, he notes “Bitcoin skyrocketed to ATH of $69,000” in 2021 amidst policy stimuli.
Reduced Gas Fees
Finally, @ardizor expects major advancements in Layer 2 solutions to significantly decrease gas fees compared to the last cycle peak. As he states, “During the bull run, expect a surge of investments flowing into them due to high anticipated gas fees.”
In summary, @ardizor believes these four catalysts point to a likely bull run with a Bitcoin top target of $150-250k and Ethereum topping out around $20-30k in the 2024-2025 timeframe. As he notes, “Consider this thread as food for thought rather than a call to action” given many uncertainties still ahead.
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