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Will Bitcoin touch $100,000 in 2024? PlanB’s price prediction says…

2min Read

Bitcoin ETFs could massively impact prices – an analyst predicted that BTC could touch $100,000 soon.

Will Bitcoin touch $100,000 in 2024?

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  • Bitcoin was up by more than 3% in the last seven days. 
  • If BTC starts a bull rally, it might face resistance near the $45,000 mark. 

As Bitcoin’s [BTC] price iced near the $44,000 mark, investors’ expectations of the king coin rose. In fact, if the latest data is to be believed, BTC might touch a new high in 2024.

Considering the hype around Bitcoin ETFs, the possibility of BTC reaching new highs seems likely.

2024 might be a year worth remembering

Bitcoin’s price action remained bullish last week, as it was just about to cross the $44,000 mark. According to CoinMarketCap, BTC was up by over 3% last week.

At press time, the king of cryptos was trading at $43,912.86 with a market capitalization of over $860 billion.

As BTC’s price steadily increased, analysts have been making bullish predictions for the king coin.

Notably, an analyst who created the Stock-to-Flow (S2F) model predicted that Bitcoin might surpass $100,000 in 2024 before reaching a price of $532,000 in 2025.

The prediction was made at a time when Bitcoin ETFs were a hot topic of discussion in the market. If ETFs get approved, investors might expect BTC’s price to reach new highs.

In fact, Crypto Tony, a popular crypto analyst, also shared that he also anticipated BTC reaching $50,000 if ETFs get approved.

Anything for investors in the short term?

Though the figure of $100,000 looked ambitious, and it would be pretty early to make such predictions, there was good news for investors. Captain Faibik revealed in a tweet that BTC’s Bollinger Bands were tightening in the daily time frame chart.

The analyst remained bullish on BTC and expected its price to move up in the coming days.

Therefore, to better understand what to expect from BTC, AMBCrypto took a look at its on-chain metrics.

Our analysis found that buying pressure on BTC was increasing as its exchange reserve and exchange netflow were in the green.

Source: CryptoQuant

Our look at CryptoQuant’s data also revealed that BTC’s binary CDD was green. This meant that long-term holders’ movements in the last seven days were lower than average.

Buying sentiment among US investors was also dominant, as evident from BTC’s Coinbase Premium.

Source: CryptoQuant

Read Bitcoin’s [BTC] Price Prediction 2024-25

If Bitcoin manages to initiate a bull rally in the coming days, it might face a few resistance zones. AMBCrypto then checked Bitcoin’s liquidation heatmap to find out those troublesome zones.

Our analysis revealed that BTC’s liquidation increased last time when its price reached the $45,000 mark. Therefore, it must go above that level to maintain its bull rally.

Source: Hyblock Capital


Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. He is a singer and a guitarist who also enjoys going on long bike rides.
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