Bitcoin Price Predictions From Experts to Keep an Eye on

Which Bitcoin price prediction do we believe? It can be hard to know how to separate the wheat from the chaff when it comes to Bitcoin price predictions. This is especially when commentators have a vested interest in their predictions turning into reality.

Here are some Bitcoin price predictions from some well-known talking heads and institutions that are worth keeping an eye on. However, remember that a lot of these people are actually hustling hard to keep prices high.

Cathie Wood (Ark Invest CEO): US$1.5m

Cathie Wood is known as a hard-core optimist when it comes to Bitcoin price predictions. She has been saying for years that Bitcoin will hit one million eventually. Recently, she reiterated this belief, saying that Bitcoin will surpass US$1.5 million by 2030. Or maybe even sooner!

Okay, calm the farm. Wood has a vested interest in beating the Bitcoin price drum. She is the CEO of ARK Invest. She founded the investment management firm in 2014, focusing on disruptive innovation in the public equity markets.

ARK Invest holds significant investments in Bitcoin through various funds and trusts. A higher Bitcoin price would directly benefit the firm and its investors, increasing the value of their holdings.

Vested interests

Having a vested interest doesn't necessarily invalidate Wood's prediction. She genuinely believes in the long-term potential of Bitcoin and its underlying technology. But being worth US$1.5 million? Seems a little extra. But stranger things have happened.

Think about all those people who bought Bitcoin in 2010 for US$0.10. They may have had no idea that just one Bitcoin could reach an all-time high (so far) of around US$71k.

So while it seems outrageous to say that BTC will reach more than one million dollars, let’s not discount it either.

Geoffrey Kendrick, Standard Chartered: US$150k-$200K

Geoffrey Kendrick is Standard Chartered’s digital assets research head. Kendrick has made the prediction that Bitcoin could hit US$80k by mid-2024, and US$150k by the end of 2024.

So why do we care about an opinion coming from Standard Chartered?

Here’s why: It is a multinational banking and financial services company. They have a research division that analyses various markets, including digital assets like Bitcoin.

They do not directly trade Bitcoin, their primary role is to provide accurate research and analysis, regardless of the direction of the market.

This is what makes this prediction rather interesting, in that they don’t have a direct benefit from their price prediction. It’s probably a lot more realistic and tempered than other predictions for this reason.

The Bitcoin price prediction proviso

There is a catch though. The US$150k Bitcoin price prediction is made on the understanding that Donald Trump will win the White House in November.

Kendrick said, “As we approach the U.S. election, I expect $100K to be reached and then $150k by year-end in the case of a Trump victory.”

Trump has made a U-turn on Bitcoin in the approach to the election, now saying he will support the crypto industries in the US.

If Trump gets in, Kendrick said that his prediction will go even higher over time. “I am sticking with my end-2024 $150K and end-2025 $200K forecasts for BTC.”

Jack Dorsey, Block: US$1million by 2030

Founder of Twitter, Jack Dorsey is currently the chairman and Block Head (CEO) of Block, Inc. It is a financial services and digital payments company he co-founded in 2009.

Jack Dorsey said recently that the price of Bitcoin will go above $1 million by the end of this decade. He said, “I do think it hits that number and goes beyond.”

Like Cathy Wood, however, Jack Dorsey has a vested interest in saying that the price of Bitcoin will surpass one million dollars by 2030.

Block (formerly Square), his company, is heavily invested in Bitcoin. A significant increase in Bitcoin's price would directly benefit Block's financial performance.

Again, while Dorsey has a vested interest in Bitcoin being in demand, it doesn't automatically invalidate his prediction. Many experts share his optimism about Bitcoin's potential for growth. However, be aware of potential biases when seeing opinions like this.

Bernstein Analysts: US$150k by end of 2025

Analysts at research and brokerage firm Bernstein have been hard at work pondering over what Bitcoin is going to do. They said they expect the price to continue rising.

Mahika Sapra of Bernstein said, “We continue to expect Bitcoin to touch a cycle high of $150,000 by 2025.”

This prediction is similar to what other experts are saying, especially with the approval of spot Bitcoin ETFs (a type of investment fund). Making these ETFs available on big investment platforms could be a huge boost, like putting a product on the shelves of a major supermarket.

Vested interest?

Bernstein analysts, like all financial analysts, have a professional responsibility to provide accurate and unbiased analysis. While Bernstein may have clients who hold significant Bitcoin investments, they have a reputation to uphold as a credible research institution. So take from that what you will!

PlanB Analyst: Bitcoin to reach US$288,000

PlanB has a solid following on socials, with nearly 2 million followers on X.

They also have a solid YouTube following.

In the YouTube video "Bitcoin Will Hit $288,000”, PlanB, who created the stock-to-flow model, predicts that Bitcoin will hit $288,000.

The stock-to-flow model analyses the relationship between Bitcoin's scarcity (stock) and its new production rate (flow). This particular model has been thought to be fairly accurate in predicting Bitcoin's price trends.

That might just be an unfounded reputation however, as other commentators strongly disagree that PlanB has a history of being accurate.

Perhaps you can follow PlanB and hope your little heart out that the predictions are right, but expect them to be wrong, just to be safe.

Pessimistic Bitcoin price predictions

While the general sentiment for Bitcoin's price in 2024 and 2025 is bullish among many experts, some analysts and investors have expressed concerns about potential downward pressure.

InvestingHaven

While maintaining a bullish outlook for Bitcoin in the long term, InvestingHaven has cautioned about a potential drop to $45,000 in 2024 before a subsequent rally.

They attribute this possible correction to market volatility and profit-taking.

Peter Schiff

A well-known Bitcoin sceptic and gold advocate, Peter Schiff has consistently predicted a major Bitcoin crash. He believes Bitcoin is a speculative bubble with no intrinsic value and will eventually collapse.

Conclusion: Bitcoin price predictions

While at this time the vast majority of Bitcoin price predictions are positive and point to an upward trajectory in price, this doesn’t make it an irrefutable truth.

The thing to remember is that no one has a crystal ball to see the future. Remember to separate those who have a vested interest in saying the Bitcoin price will go up, from people who are making predictions based on sound analysis.

Is it the right time to buy Bitcoin? Only your future self knows that answer to that question.