A startling 78% of participants in Finder’s most recent survey of 40 cryptocurrency creators, executives, and educators predicted that Bitcoin would reach an all-time high in the upcoming year, painting a positive picture for the cryptocurrency’s future. According to the survey, which represents the opinions of significant figures in the cryptocurrency space, there is generally optimism regarding Bitcoin’s future trajectory until 2030.

The Expected Value of Bitcoin and the Positive Consensus

As per the survey, the panelists predict that the value of Bitcoin will rise steadily, with the highest estimate being $366,935 by 2030, $122,688 by 2025, and $77,423 by the end of 2024. This is a significant increase in optimism over earlier surveys, suggesting that the crypto industry is becoming more optimistic.

Various Forecasts and Impacting Elements

While individual panelists’ expectations range from six figures to more conservative estimations, the average prediction places Bitcoin at $77,423 by the end of 2024. The introduction of spot ETFs, which improves market accessibility, growing interest from large corporations and institutional investors, and the planned halving event, which lowers Bitcoin’s fresh supply rate, are important aspects that support this hopeful perspective.

Speculative Risks and Transient Gains

Some panelists, like John Hawkins of the University of Canberra, are sceptical despite the general upbeat tone. Viewing Bitcoin as a speculative bubble, Hawkins compares the BTC futures ETFs to the subsequent market meltdown in 2021 and cautions against potential short-term profits from new spot ETFs.

Divergent Views Regarding Investor Strategy

Diverse viewpoints exist regarding the optimal course of action for Bitcoin investors. While Jeremy Cheah of Nottingham Trent University urges prudence and predicts a slight correction, Jason Lau of OKX highlights the significance of ETF approval and expanding acceptance, suggesting a bright long-term prognosis.

The Current Value of Bitcoin and Purchase Opportunities

More over half of the panelists believe that the price of Bitcoin is now undervalued, indicating a good time to buy. Anticipation of the halving event, rising institutional participation, and ETF approvals are some of the factors that have contributed to the recent price surge.

Agreement on the Record-High Timeline

Based on the study, industry professionals generally believe that October 2024 will mark the next peak for Bitcoin. Merely 5% of participants hold the view that Bitcoin won’t surpass $69,000 once more, while a noteworthy 78% predict that the cryptocurrency will achieve a new peak in the next year.

The majority of the panelists at Finder are bullish about Bitcoin’s prospects, predicting significant growth through 2030. Though perspectives on the timing and scope of this growth are divided, market factors, legislative developments, and the cyclical nature of Bitcoin’s halving occurrences support a generally favorable prognosis. The cryptocurrency market is still on the verge of a potentially revolutionary phase in the upcoming months, as long as Bitcoin continues to draw interest from institutions and investors.