Expert predicted the growth of bitcoin and Ethereum until the end of 2024

By the end of the year, the price of bitcoin may reach $95 thousand, and Ethereum - $4.1 thousand. This opinion was shared by BitRiver financial analyst Vladislav Antonov in a conversation with Izvestia.

According to CoinDesk, the price of bitcoin, having passed the $99 thousand mark on November 22, fell from $97.9 thousand to $91.9 thousand from November 25 to 27. At the same time, the cryptocurrency Ethereum showed growth during this period of time. Its value rose from $3.3 thousand and reached $3.4 thousand.

"According to the analytical company Glassnode, from September to November, long-term investors sold more than 507 thousand BTC, which creates pressure on the price after updating the historical highs. Another reason for the local correction was the failed attempt to overcome the $100 thousand mark. This provoked traders to fix profits. Also, the risky mood in the markets deteriorated after the statements of U.S. President-elect Donald Trump on new tariffs on imports, which negatively affected stock futures and strengthened the dollar", - recalled the expert.

According to him, the minutes of the meeting of the US Federal Reserve System (FRS) showed that the regulator favors a gradual reduction of rates in the future. After the publication of the minutes, the probability of a rate cut in December increased from 52.3 to 62.8%. This allowed the US stock indices to recover. The dollar came under pressure.

"External factors for the crypto market remain favorable. The correction removed overbought, now it is possible to recover to $95.15. We should also take into account that bitcoin has risen in price by 133% since the beginning of the year and at the end of the year companies will be fixing profits to show good returns to their investors in Q4 and for 2024. This will put pressure on buyers, but by all metrics the rally is not over yet," Antonov said.

He noted that technical analysis points to an interesting outlook for Ethereum. The current recovery is taking place from the $2131 level. For confident growth, it is necessary to overcome resistance at $3.8 thousand and $4.1 thousand. A successful breakdown of the latter level may open the way to $4.9 thousand.

"The historical maximum of Ethereum is $4951 on the Binance exchange. Further growth potential up to $6k directly depends on the innovative solutions of Ethereum co-founder Vitalik Buterin and his team. So far, Ethereum remains a "token out of fashion", but has a significant potential for revival when breakthrough technological solutions appear," the expert concluded.

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Earlier, on November 20, Antonov told Izvestia that bitcoin continues to show impressive growth. In his opinion, reaching the $100 thousand mark by the end of 2024 looks quite realistic. He noted that the cryptocurrency's current growth is due to several key factors, such as the activation of the institutional sector.

In the same month, Capital Lab partner Evgeny Shatov also suggested in a conversation with "Izvestia" that by the end of this year, the value of bitcoin may reach $100 thousand. He added that the rate will grow if Trump continues to declare support for cryptocurrencies and specific actions in this direction.