The editors of BeInCrypto asked experienced market experts to give a Bitcoin forecast for January 2024. We tell you how, according to our interlocutors, BTC can spend the first month of the new year.
Sergey Selivanov, development director of the multifunctional blockchain platform Bringold, believes that January 2024 promises to be interesting and potentially highly profitable for Bitcoin investors.
According to our interlocutor, if spot Bitcoin ETFs are approved, there is every chance of seeing BTC above $50,000. If the instrument is not approved, the cryptocurrency, according to Sergey Selivanov, will fluctuate slightly above $40,000 for some time.
Our interlocutor noted that the correction, if there is one, will be insignificant, since the Bitcoin halving is ahead of the market.
Let us remind you that the event that traditionally brings BTC into growth may take place in April. Also, the growth of Bitcoin, even in the context of the refusal to launch spot ETFs, will be supported by economic uncertainty, including fears of recession or stagflation in the United States, our interlocutor believes.
“In this environment, investors are looking for safe havens for their assets, and some see Bitcoin as an alternative to gold or other traditional safe haven assets.
This will also support and increase the demand for Bitcoin,” Sergei Selivanov summed up his Bitcoin forecast for January.
StormGain cryptocurrency exchange expert Dmitry Noskov believes that BTC may well overcome the psychological level of $45,000 in January.
Our interlocutor explained his optimistic forecast by expecting a positive effect from the possible approval of spot Bitcoin ETFs and the approaching halving.
The founder and CEO of WAYMORR, Grigory Shchukin, supported the positive forecast for Bitcoin for January 2024. At the same time, our interlocutor warned investors about a likely increase in volatility in the market.
If spot Bitcoin ETFs are not approved and if global economic conditions worsen, as our interlocutor believes, BTC may enter a correction.
Lennix Lai, commercial director of OKX, also gave his Bitcoin forecast for January 2024. According to our interlocutor, the prospects for BTC in January depend on the interest in the cryptocurrency on the part of institutions. The launch of spot Bitcoin ETFs could fuel it.
Also, the growth of Bitcoin in January, according to Lennix Lai, may support the approach of halving and the interest of market participants in Bitcoin NFTs.
“In 2024, we can expect continued interest in ordinals. They became the reason for the influx of NFT capital into the Bitcoin blockchain and provoked debate about which direction the Bitcoin blockchain will develop next,” our interlocutor summed up his Bitcoin forecast for January.