The future of Bitcoin: what will 2024 bring?

In the world of cryptocurrencies, Bitcoin is king.

Value. Popularity. Prestige. Whatever metric you use, Bitcoin rules the roost. It’s the most important crypto of them all, and it’s the one that everyone — from seasoned crypto connoisseurs to first-time investors — wants to know about.

So, what are the big factors that could influence Bitcoin’s price in 2024? And when is the right time to buy Bitcoin on Paybis? Keep reading and find out.

A look at ppot Bitcoin ETF

In 2024, expect to hear a whole lot about spot Bitcoin exchange-traded funds, or ETFs. They just got approved by the US Securities and Exchange Commission (SEC) in January 2024, and they’re set to take the crypto world by storm.

First, the basics: ETFs are essentially investment vehicles. They can track the rise and fall of BTC, and users can invest in them directly, instead of actually having to buy their own Bitcoin.

What’s more, ETFs are much more accessible compared to regular crypto trading, opening the doors of Bitcoin to a much bigger audience than before.

Here’s how it works: investors can buy shares of the ETF fund. The fund itself is managed by asset managers — they take their cut in the form of commission style management fees. They also sell off each share at a slightly higher price than Bitcoin’s current value, allowing them to earn a little cash on every investment.

So, why would people want to invest in them? Well, as mentioned earlier, they’re much more accessible for the everyday investor.

Newbies. First time crypto buyers. People who struggle to understand the complexities of crypto but still want to invest in it. All of those crowds will find ETFs much easier to work with. Plus, they can be safer and less volatile than buying BTC outright.

What does all this mean for Bitcoin's value? Well, right after the SEC approved ETFs, Bitcoin rallied.

And, as more people find out about ETFs and start pouring money into them, we could see Bitcoin continue to grow as the year progresses. In other words, ETFs are definitely good news for Bitcoin’s price, as they’re only going to make this cryptocurrency more accessible to an even bigger audience.

Upcoming Bitcoin halving

The launch of ETFs isn’t the only big news for Bitcoin fans in 2024.

The launch of ETFs isn’t the only big news for Bitcoin fans in 2024. We’re also gearing up for the next Bitcoin halving, which is set to take place in April. And that’s also sure to have a positive impact on the value of the coin, especially if we look back at how previous halving events led to boosted Bitcoin price charts.

For the uninitiated, Bitcoin halving is basically when the reward for mining Bitcoin transactions gets slashed in half. So, since 2020, Bitcoin miners have been given 6.25 BTC per successful block.

Well, once April’s halving kicks in, that 6.25 is getting slashed to 3.125. Why? It’s all about cutting the rate at which coins get made, thus reducing the total BTC supply.

And, as the time-tested laws of supply and demand have proven over the years, when the supply drops, the price tends to go up, as long as the demand either stays the same or rises.

Given the release of ETFs and consistently growing interest in Bitcoin, we can expect demand to, at the very least, remain steady in 2024, so the value should soar post-halving, which is something to factor into your investment strategies.

Bitcoin regulation

Regulation is the big buzzword going around the crypto industry right now. And it’s easy to see why.

Over recent months and years, we’ve seen governments and various authorities clamping down on crypto like never before. Some countries have even gone as far as banning the possibility of buying BTC altogether!

And those efforts don’t show any signs of slowing down or going away in 2024.

In fact, in a lot of locations, they’re only getting stricter. There’s no sign of Bitcoin bans getting lifted anytime soon, and even relatively liberal and crypto-friendly countries are still putting plans in place to control how Bitcoin gets used, sold, traded, and so on.

For investors, this is bad news. As Bitcoin regulation rises, crypto on the whole may be harder to invest in — and the harder it gets, the fewer buyers there will be.

That’ll impact supply, and when supply drops, so does value. On the plus side, many experts hope that the positive influences of ETFs and the halving event should offset any potential value drops caused by regulation.

Price prediction for Bitcoin

So, what does all of this mean for the estimated price of Bitcoin in 2024?

Well, the overall outlook is pretty positive. In other words, multiple signs suggest that Bitcoin should rise this year. Investing early could be the right move, as the difference between January prices and December prices could be quite vast if all goes well.

In terms of how far we can expect Bitcoin to go, it’s tough to say. Every expert has their view on the matter. Some of them are exceptionally optimistic, even suggesting that Bitcoin could have its best ever year, with a potential 1,000% rally.

Other experts are a little more conservative, but almost all of them agree that the price of Bitcoin will rise. It’s only a question of how much and how high it can go.

Overall, it’s clearly going to be quite an interesting year for Bitcoin and the crypto markets once again.

And while the increasing levels of regulation can cause some headaches and unwanted issues for investors, the signs are generally quite good that Bitcoin will rise in value as 2024 proceeds. In particular, expect to see big rises after the halving in April.