The bitcoin price trend is no less than ‘hot pancakes’ which is gaining global attention. The rise or fall in price is not restricted to demand and supply, as the institutions and whales, along with the market makers, do have a significant impact on it. After the collapse of Terra & FTX, the markets appeared to be uncertain and not in recovery mode for the next few months. However, the emergence of institutions in the crypto space lifted the momentum, which made the market participants optimistic about the future growth of the BTC price and the entire market.

It’s more clear that Bitcoin is fueling up for one of the most phenomenal runs in history. The major reason for being bullish on Bitcoin could be:

• Halving in less than a year
• Mass exodus from ‘crypto’
• Major players submitting ETFs
• A drop in the exchange reserves
• Importantly, a huge rise in the long-term hold rate is recorded

Considering these factors, industry experts believe the BTC price may witness a huge bull run over the next 18 months. After claiming a huge inflow of $150B to $200B in Bitcoin through the BlackRock ETF, the director of the firm is now confident of all the ETFs being approved in the next 3 to 6 months. This may transform the entire crypto space, with an elevated attention and adoption rate. 

With the growing confidence of investors and market participants, can the BTC price make it to $50,000 in 2024?

Analyzing the impact of the spot ETFs on the BTC price, a popular crypto proponent and influencer, tedtalksmacro, shared some context. Presently, the FDV, or fully diluted value, of Bitcoin, which is a product of maximum supply and current market price, is around $580 billion amidst the depths of the bear market and the regulatory tightening of the global central banks.

If the token forms a strong base around the current price, the next leg after the ETFs could elevate the FDV to around $780 billion, which is around $37,100 per BTC. Additionally, the central banks are estimated to ease their tight vigilance in the next 12 to 24 months, which may make the markets more optimistic, which may add up to a much higher speculative premium.

If all these go well and BTC market capitalisation moves back to $1 trillion, then the price may rise to $48,000 in late 2025 or early 2026. The analysis depends on speculations and assumptions, and many more are yet to come. However, positive sentiments continue to mount up expecting a similar price rise that happened with Gold since 2004 after the SPDR ETF.