Bitcoin Will Surge Above $80,000 in 2024, Bitwise Predicts

Surge Above $80,000 in 2024

Bitcoin stands as the pioneer of cryptocurrencies and has ever since captured fancy imagination of many investors worldwide. Its volatility and its journey has seen witnessed worldwide acceptance as well as denial, making its highs remarkable for profits and daunting lows that classifies it as an asset which is most cherished and criticized too. As we are moving ahead with the technological advancement in the sphere of cryptocurrencies and blockchain technology. As we dig deeper into how 2024 can be for Bitcoin halving event and what the final price of bitcoin would be. This article will help you delve into the bullish forecast by Bitwise and explore the intricacies of how the Bitcoin halving occurred in the past and what implications it set forth on the market along with what is instore for the investors post BTC halving event.

Bitwise Stance on Bitcoin’s Price

The famous digital asset firm Bitwise has ignited a spark of excitement in the cryptocurrency community with its predictions for the year 2024. They made total ten forecasts and among which they predicted Bitcoin to be standing at $80,000 reaching an all time high so far.

This bullish outlook for BTC was forecasted on the basis of two significant events: long awaited approval of BTC ETF or Exchange Traded Funds with BTC halving event that is to take place in April 2024. Let us delve deep into these factors and explore the validity of Bitwise’s forecasts.

Spot BTC ETF: A Gateway for Traditional Investors

Traditionally investing in Bitcoin has required navigating the cryptocurrency exchanges which can be intimidating for many new investors unfamiliar with the complexities of digital asset landscape. A spot Bitcoin ETF upon launching could become the most successful in history, potentially amassing the $72 billion in assets under management within the next five years.

BTC Halving: A Catalyst for Price Increase

Bitcoin’s unique characteristics is its capped supply. Unlike traditional fiat currencies, now governments can print money at will, knowing that they can print as much fiat currency as they want. Contrary to this built in scarcity the crucial role is its value proposition.

As Bitcoin halving is a pre-programmed event that occurs roughly every 210,000 blocks or four years time span, the reward for mining is reduced to half further reducing the supply of Bitcoins followed by a surge as demand continues to rise upsurging financial transactions. Over the years, Bitcoin has garnered widespread attention attracting both fervent supporters and vocal critics.

Bitcoin Phenomenon

Bitcoin as created by the pseudonymous Satoshi Nakamoto in 2008, was introduced via the concept of decentralization and digital currency. It is powered by blockchain technology and operates independently of any central bank or central authority, which in case of traditional finance offers security but comes with no privacy. In case of decentralized finance over the years, Bitcoin has garnered widespread attention, attracting both fervent supporters and vocal critics.

Bitcoin’s price history continues to be extremely volatile, punctuated by dramatic rallies and precipitous declines. Despite the enduring skepticism and regulatory challenges, Bitcoin has emerged as a resilient asset class, captivating investors that are seeking alternatives to traditional fiat currencies.

Bitwise’s Bullish Forecasts

Bitwise’s predictions of Bitcoin surpassing the $80,000 price mark in 2024 has sent ripples throughout the crypto community. It was founded in 2017, Bitwise has established itself as a reputable player in the cryptocurrency sphere, offering investment solutions tailored to institutional and individual investors.

This optimism surrounds Bitwise’s prediction stemming from a confluence of factors such as macroeconomic indicators, technological advancements and other market dynamics. Let’s examine these factors in greater detail to understand the rationale behind the forecast.

The global macroeconomic landscape has exerted a significant influence on Bitcoin’s price dynamics. Amidst the unprecedented monetary stimulus measures, there are concerns about the inflationary pressures and currency debasement when it is intensified. Bitcoin is often touted as digital gold, because of its increased view as a hedge against fiat currency depreciation and economic uncertainty.

As central banks adopt accomodative policies and governments roll out massive fiscal stimulus packages the allure of scarce digital assets such as Bitcoin grows stronger. Bitwise forecasted that this heightened inflationary trends and expectations of currency devaluation fears that drive demand for the Bitcoin as a store of value, propelling the price of bitcoin higher.

Institutional Adoption

In recent years, institutional adoption has gained a traction signaling towards the paradigm shift in the cryptocurrency landscape. Some high profile endorsements from renowned investors, corporate treasuries allocated funds to the Bitcoin and this gave way to the regulated investment vehicles that have bolstered the confidence in the asset class.

The institutional investors have traditionally been cautious about venturing into nascent markets. This increasingly allocated capital to the Bitcoin as part of their diversified investment strategy. This entry of institutes injects liquidity into the market reducing volatility and lends legitimacy to Bitcoin as a trustworthy asset for wealth preservation and appreciation.

Technological Advancements

Bitcoin’s underlying technology, blockchain continues to evolve and pave way for innovative developments and some enhanced functionalities. This integration of layer 2 solution such as Lightning Network, promises to improve transaction fees, throughput, scalability as well as addresses longstanding concerns regarding Bitcoin’s network congestion and high fees.

Moreover there are some advanced custodial solutions having regulatory clarity, infrastructure development that have facilitated broader accessibility as well as participation in the cryptocurrency market. As the ecosystem matures and infrastructure evolves Bitcoin utility and its appeal as a digital asset are expected to grow, fueling more price appreciation and demand.

According to Bitwise, this anticipates the ongoing technological innovations that will bolster the confidence in Bitcoin’s long term prospects and further attracts investors and drives the upward momentum in price trajectory.


Bitwise’s bullish forecast of Bitcoin surpassing the $80,000 in 2024 underscores the growing optimism surrounding the cryptocurrency market. As the predictions are inherently speculative and subject to market dynamics, the confluence of macroeconomic trends, institutional adoption with technological upgradations bodes well for Bitcoin’s price continued and its upcoming price trajectory.

Investors should seek caution before investing as the market can show volatility amid any frenzy. Nevertheless prospects for Bitcoin’s reaching an all time high and new heights can bring resilience and disruption to the potential reshaping of the global financial landscape.


Will Bitcoin halve in 2024?

Yes, Bitcoin’s next halving event is projected to occur in 2024.

What date is Bitcoin halving?

Next BTC halving date is 20th April, 2024.

What does halving do to Bitcoin?

Bitcoin halving reduces the rate at which new Bitcoins are created, potentially impacting its price due to limited supply.

Why Bitcoin just hit its all time high?

Bitcoin recently hit its all-time high due to a combination of increased institutional adoption, growing mainstream acceptance, and favorable macroeconomic conditions driving demand for the digital asset.

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