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    Assessing Bitcoin’s future: Expert predictions on price thresholds and potential post-election surge

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    Economist and trader Alex Krüger theorized a 50% chance that Bitcoin’s value may never dip below $60,000 again. Further speculation suggests Bitcoin could reach groundbreaking highs post-US elections. Analysts at Bitfinex predict Bitcoin could surge to $80,000 by the end of 2024, while key crypto figure Adam Back believes the lowest possible price may exceed $40,000. Some suggest Bitcoin’s absolute lowest price should be based on Coin Days Destroyed (CVDD); currently, CVDD stands at $26,520.

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    People are chatting about the future value of Bitcoin after a well-known economist suggested that the price of this first-ever digital currency might never dip below $60,000 again. Alex Krüger, who’s not just an economist but also a trader, speculated that Bitcoin’s price could end up sticking around the $60,000 mark. He expressed his thoughts in a post, saying that there’s a “50% chance of Bitcoin never trading below 60K again.”

    Everyone’s eyes were on Bitcoin and other cryptocurrencies during the US elections. On November 4, Bitcoin’s value dipped just a touch above $66,815 but managed to bounce back over $68,750 the very next day.

    Kruger isn’t the only one speculating a bright future for Bitcoin. Some market watchers believe that the aftermath of the elections could trigger Bitcoin to reach groundbreaking highs. In fact, analysts at Bitfinex are predicting Bitcoin could surge to $80,000 by the end of 2024, citing the structure of the options market and the potential of a Republican presidential victory as driving factors.

    Meanwhile, another key figure in the crypto space, Adam Back, believes that Bitcoin’s “lowest possible” price might be greater than $40,000. Back, the co-founder and CEO of Blockstream and the creator of Hashcash, pointed to the 200-week moving average, a popular tool used by traders to spot longer-term trends by smoothing out daily ups and downs. He noted that this key metric crossed the $40,000 threshold on October 18.

    Others hold the opinion that Bitcoin’s value based on the total number of days a coin has been held (or Coin Days Destroyed, CVDD) is a better way to estimate Bitcoin’s absolute lowest price. However, as of writing, Bitcoin’s CVDD stands at $26,520 according to TradingView data.

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