Bitcoin, which has reached an all-time high of $73,000 recently, remains in the agenda. Analysts and experts are making bold predictions for Bitcoin, which is trying to stabilize above $70,000, by the end of the year. Here are three critical Bitcoin predictions and their probabilities of realization...

PlanB, Standard Chartered and Robert Kiyosaki's predictions are noteworthy

Cryptocurrency expert Plan B made a striking Bitcoin price prediction for June 2024. According to his analysis, Bitcoin could reach a target price of at least $100,000 in the near future. Plan B's prediction is based on his own developed model, which anticipates a rapid rise in Bitcoin's price. In addition, Robert Kiyosaki predicts that the price of Bitcoin will skyrocket to $350,000 by mid-August. This prediction is based on Kiyosaki's analysis of market trends and factors influencing Bitcoin's price movements.

Another prediction comes from Standard Chartered. Standard Chartered is forecasting a BTC price of $150,000 by the end of 2024. This prediction points to the potential for Bitcoin to rise to $80,000 by the end of June, based on positive payroll data and other market indicators.

Are these three Bitcoin predictions reasonable?

Now, looking at the current situation of Bitcoin, we are almost halfway through the year and we have not yet seen Bitcoin reach $100,000. With the halving period pump and ETF inflows, it reached a maximum of $73,000, which is quite unusual. Normally, we do not surpass all-time highs until a few months or even six months after the halving. Therefore, the current position of the Bitcoin price is quite impressive. According to experts, we expect a downward move along with Bitcoin and the broader cryptocurrency market. As it goes up, there may be some resistance along the way, which can cause a temporary pause or even a slight upward pressure for a day.

Looking at the total market capitalization in the daily timeframe, we can see a significant bullish flag pattern forming. If this pattern plays out as expected, we may see a measured upward move. However, looking back to June 2023, the crypto market bounced back thanks to BTC spot ETF applications. It was a month full of progress and regulatory changes with more involvement from major institutions. While reaching $100,000 for Bitcoin in June 2024 may not seem very likely, given the current trajectory, it could happen before the end of the year.

In conclusion, we have examined different expert opinions and market analyses regarding the future of Bitcoin. While experts set high targets, it is also predicted that the cryptocurrency market may experience a downward break. Whether Bitcoin will surpass the psychological level of $100,000 will be revealed over time.

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