Bitcoin’s Potential to Reach $100K by 2024: Key Factors Explored

Share on Facebook Share on Twitter

Bitcoin on the way to 100,000 dollars in 2024?

The question of whether Bitcoin will reach the 100,000 dollar mark in 2024 is currently occupying many investors and market observers. In particular, the discussions around Bitcoin ETFs could have a significant impact on the price of the cryptocurrency.

Bitcoin Price Development and Forecasts

In the past week, Bitcoin was able to gain more than 3% and approached the 44,000 dollar mark. According to data from CoinMarketCap, the cryptocurrency was trading at 43,912.86 dollars at the time of reporting, with a market capitalization of over 860 billion dollars.

An analyst who developed the Stock-to-Flow (S2F) model even predicts that Bitcoin could exceed the 100,000 dollar mark in 2024 and reach a price of 532,000 dollars in 2025. This prediction was made at a time when Bitcoin ETFs were a hotly debated topic in the market.

alert-circle
You can also find us on Telegram: Click here to follow our Telegram channel.

Influence of Bitcoin ETFs

If Bitcoin ETFs are approved, investors could expect a further increase in the Bitcoin price. Crypto Tony, a well-known crypto analyst, also shared that he expects Bitcoin to reach 50,000 dollars if ETFs are approved.

Outlook for Investors

Even though the 100,000 dollar mark seems ambitious and it may still be too early to make such predictions, there is good news for investors. Captain Faibik pointed out in a tweet that the Bollinger Bands of Bitcoin are narrowing in the daily chart. This could indicate that the price of Bitcoin could rise in the coming days.

On-Chain Metrics of Bitcoin

An analysis of Bitcoin’s on-chain metrics revealed that the buying pressure on Bitcoin is increasing as the Exchange Reserve and the Exchange Netflow are in the green zone. This suggests that the movements of long-term holders have been below average over the past seven days. In addition, the buying sentiment among US investors was dominant, as evidenced by the Coinbase Premium of Bitcoin.

Potential Resistance Zones

If Bitcoin were to start a bull rally in the coming days, there could be some resistance zones. An analysis of Bitcoin’s liquidation heatmap showed that the liquidation of Bitcoin increased the last time the price reached the 45,000 dollar mark. Therefore, Bitcoin must exceed this mark in order to maintain its bull rally.

Sources: AMBCrypto, CoinMarketCap, CryptoQuant, Hyblock Capital.

The Best Bitcoin Casinos

Up to 1 BTC + 100 Free Spins
First Deposit Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Bets.io review
Cryptocurrencies (12)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • usd-coin-logo
Bets.io review

Bonus information

Bonus code: BETSFTD
Wagering requirements: 40x the bonus amount
40x the winnings from free spins
Minimum deposit: 20 USDT or equivalent
Bonus validity: 14 days
  • Maximum bet per round while wagering: 2 USDT – 0.000066 BTC , 0.01 BCH, 0.0011 ETH, 0.02 LTC, 40 DOGE, 2.8 XRP, 25 TRX, 6.6 ADA, 0.008 BNB, 2 BUSD, 2 DAI, 2 EUR – 2 USD.
  • Bonus must be used within 30 days of registration.
Why we like this casino

Bets.io is an impressive crypto casino that boasts a variety of games and renowned software providers. The website is easy to use and offers a wide selection of games, which makes the gaming experience particularly enjoyable. Furthermore, the customer service is available 24/7. They are highly competent, ensuring a reliable and trustworthy service.

Last update: 1. March 2024
Curaçao
Licence
100% up to 1 BTC
Welcome Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Metaspins review
Cryptocurrencies (9)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • usd-coin-logo
Metaspins review

Bonus information

Wagering requirements: 25x deposit & bonus
Minimum deposit: 0,1 mBTC
Bonus validity period: 7 days
  • Bonus & deposit must be wagered 25x
  • Max amounts: 1 BTC/10 ETH/10,000 USDT/10,000 USDC/100 BCH/200,000 TRX/35,000 ADA/150 LTC/125,000 DOGE
  • 7 days to wager
  • Minimum deposit: 0.1 mBTC
  • Slots 100%, game shows 50%, other 0%
Why we like this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Last update: 1. March 2024
100% up to 1 BTC + 100 Free Spins
Welcome bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Empire.io review
Cryptocurrencies (9)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
Empire.io review

Bonus information

Bonus Code KC100
Wagering requirements Bonus must be wagered 40x
Winnings from free spins must be wagered 40x
Minimum deposit 30 USDT or equivalent
Maximum bet €5 per round
Bonus currency Only with BTC and USDT deposit
  • The free spins are given on Sweet Bonanza.
  • VERY IMPORTANT: The bonus is only available when depositing with these methods: BTC & USDT.
  • To take advantage of the offer, change your wallet to mBTC (μBTC) or USDT and activate the bonus by clicking on “Redeem Bonus” and entering the bonus code.
  • Only the first deposit counts for the bonus.
Why we like this casino

We absolutely recommend Empire.io since it has one of the best crypto teams we know behind it. On top of that, it offers an extensive selection of slots and live games. The bonus is also exceptional with good conditions.

Last update: 1. March 2024
Curaçao
Licence
Share on Facebook Share on Twitter

The 3 best cryptocasinos

Up to 1 BTC + 100 Free Spins
First Deposit Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Bets.io review
Cryptocurrencies (12)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • usd-coin-logo
Bets.io review

Bonus information

Bonus code: BETSFTD
Wagering requirements: 40x the bonus amount
40x the winnings from free spins
Minimum deposit: 20 USDT or equivalent
Bonus validity: 14 days
  • Maximum bet per round while wagering: 2 USDT – 0.000066 BTC , 0.01 BCH, 0.0011 ETH, 0.02 LTC, 40 DOGE, 2.8 XRP, 25 TRX, 6.6 ADA, 0.008 BNB, 2 BUSD, 2 DAI, 2 EUR – 2 USD.
  • Bonus must be used within 30 days of registration.
Why we like this casino

Bets.io is an impressive crypto casino that boasts a variety of games and renowned software providers. The website is easy to use and offers a wide selection of games, which makes the gaming experience particularly enjoyable. Furthermore, the customer service is available 24/7. They are highly competent, ensuring a reliable and trustworthy service.

Last update by Isabella Brown (iGaming expert for > 10 years) on 1. March 2024
Curaçao
Licence
100% up to 1 BTC
Welcome Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Metaspins review
Cryptocurrencies (9)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • usd-coin-logo
Metaspins review

Bonus information

Wagering requirements: 25x deposit & bonus
Minimum deposit: 0,1 mBTC
Bonus validity period: 7 days
  • Bonus & deposit must be wagered 25x
  • Max amounts: 1 BTC/10 ETH/10,000 USDT/10,000 USDC/100 BCH/200,000 TRX/35,000 ADA/150 LTC/125,000 DOGE
  • 7 days to wager
  • Minimum deposit: 0.1 mBTC
  • Slots 100%, game shows 50%, other 0%
Why we like this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Last update: 1. March 2024
100% up to 1 BTC + 100 Free Spins
Welcome bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Empire.io review
Cryptocurrencies (9)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
Empire.io review

Bonus information

Bonus Code KC100
Wagering requirements Bonus must be wagered 40x
Winnings from free spins must be wagered 40x
Minimum deposit 30 USDT or equivalent
Maximum bet €5 per round
Bonus currency Only with BTC and USDT deposit
  • The free spins are given on Sweet Bonanza.
  • VERY IMPORTANT: The bonus is only available when depositing with these methods: BTC & USDT.
  • To take advantage of the offer, change your wallet to mBTC (μBTC) or USDT and activate the bonus by clicking on “Redeem Bonus” and entering the bonus code.
  • Only the first deposit counts for the bonus.
Why we like this casino

We absolutely recommend Empire.io since it has one of the best crypto teams we know behind it. On top of that, it offers an extensive selection of slots and live games. The bonus is also exceptional with good conditions.

Last update by Isabella Brown (Nerd of Numbers) on 1. March 2024
Curaçao
Licence

Latest News

Created by

I have enjoyed following the international iGaming industry since my first encounter at the age of 23. Fascinated by its diversity and complexity, I was hooked and have never left the industry since. Here at KC, I am a proud member of the founding team as well as the content team. We use everyone's knowledge to find every possible flaw in a casino so you can relax and play.
Reviewed by
Nerd of Numbers

Last update: 19. February 2024

🍪
We use cookies. By using this site, you accept them.