The price of Bitcoin (BTC-USD) is coming back yet again. Accordingly, interest around Bitcoin price predictions is surging as the world’s largest crypto continues to trade around the critical $30,000 level.
Notably, last week, Bitcoin made a fresh one-year high, suggesting that bullish momentum for BTC is in full swing. One of the key drivers behind this positive enthusiasm appears to be continued excitement around BlackRock’s (NYSE:BLK) announced plans to create a Bitcoin exchange-traded fund (ETF).
This ETF, which is expected to be called the iShares Bitcoin Trust, would utilize Coinbase’s (NASDAQ:COIN) custodial services. It’s expected that this fund will cater to both retail and institutional investors, driving interest around the potential for additional upside in BTC as more funds flow into this alternative asset class.
Lately, fund outflows from Bitcoin-related products have slowed, although the trend does remain bearish in this regard. However, given BlackRock’s status as a leading provider of products that institutional investors search for, perhaps inflows could be on the horizon. At least, that appears to be what investors are betting on right now.
With that said, let’s dive into where the experts see this cryptocurrency headed from here.
Bitcoin Price Predictions
For context, BTC currently trades at about $30,090 per coin at the time of this writing.
- WalletInvestor puts forward a rather bearish one-year price target of only $14,509 for Bitcoin.
- However, Gov Capital suggests BTC could be worth $61,102 in one year and $235,564 in five years.
- Finally, DigitalCoinPrice predicts Bitcoin could average at $73,298 in 2024 and $163,19 in 2028.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
