Bitcoin (BTC) Price Prediction: What's Next for BTC in 2024 and Beyond?

This year is one of the most tumultuous in Bitcoin history. Sure, on the one hand, you can't compare it to 2017, when BTC first became a household name

Bitcoin price is currently at $56,000 and has been seen rising as high as $73,000 this year. Well, now the question of whether it is really a bull or a bear market comes to mind. Which is the next Bitcoin of 2024 and what should investors pay attention to?

Arrangement and usage area

Two big factors influencing Bitcoin adoption and therefore growth are upcoming regulatory work and usage area.

The first major regulation that comes to mind is MiCA (markets in crypto assets). This is a regulation that will serve as a benchmark and framework for any future regulation. It is currently struggling in the EU and is prioritizing much greater emphasis on four main factors:

The important thing to understand about editing is that it is not just about the content of the edit. It's about having a written framework so crypto investors and developers know what they're getting into.

Before the arrangement is complete, it's like preparing for a competition without knowing what the rules of the tournament will be.

As for the usage area (the second part of the equation), the usage areas of these coins are increasing rapidly. We're talking about everything from buying and paying for things online with BTC to playing at the best crypto casinos.

The added anonymity and cybersecurity (using a crypto wallet instead of your own debit card) seems to be a big selling point, especially in the casino industry and payments industry. This is further contributing to crypto adoption among those who prioritize use case.

Experts say demand has undoubtedly decreased

The first thing to keep in mind when it comes to Bitcoin is that September has historically been a “red” month. Most people who start researching can notice this.

On September 5, Julio Moreno, head of research at cryptoquant.com, announced that there was a decline in demand for crypto that was driving the price down.

At the same time, many people expect Bitcoin to reach an all-time high in the fourth quarter of this year, but the low demand shows that many of these people are not really ready to put their money where their mouth is.

A big concern right now is that Bitcoin could fall below $50,000. However, at the peak of this fear, this currency managed to recover.

Some traders prefer to look at other types of analysis. For example, they look at other currencies and look for correlations. Complex machine learning algorithms are predicting the decline of XRP, for example, which could have further impact on the rest of the market.

Current price dynamics indicate a bull market trend in the medium term when it comes to XRP, but making a prediction for a currency like BTC with a much higher trading volume should not be that simple.

The dilemma is real

After all, this is one of the rarest moments in Bitcoin history where audiences are split almost down the middle. Some are in a bear market trend while others are in a bull market trend. People are cautious for a reason, but FOMO is a strong motivator and every last “false bear market” event is etched in the minds of most BTC investors. People are naturally cautious, but they also like to dream.

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