Despite recent turbulence in the crypto market, leading financial institutions remain bullish on Bitcoin’s future, as noted in their predictions.

As 2024 begins, these organizations project significant growth for Bitcoin, with price predictions ranging from a moderate increase to $80,000 to a staggering surge beyond $600,000.

Messari: Bitcoin Could Reach Parity with Gold

Messari, a notable name in crypto analytics, predicted a Bitcoin value exceeding $600,000. Its analysis underscored Bitcoin’s resilience and dominance in the cryptocurrency market, citing its ability to lead recoveries and overshadow other digital currencies.

“We’ve recently seen multi-year highs for bitcoin dominance, but still nothing close to the high-water mark we attained at the beginning of the 2017 and 2021 bull runs. Bitcoin dominance shrank from 87% to 37% in 2017. It reclaimed 70% during its consolidation phase and run-up to $40,000 in 2021 before dropping to 38% at the height of the bubble. We just tapped 54%. There’s still room to consolidate,” analysts at Messari argued.

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Author: Bary Rahma

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