CoinShares analysts do not anticipate Bitcoin exceeding $80,000 in 2024. The firm identifies the Federal Reserve's hawkish monetary policy and the failure of the CLARITY Act as primary obstacles for the asset's growth.
The Federal Reserve recently implemented a 0.25 percentage point rate hike, bringing the range to 3.75%–4.00%. Projections indicate that interest rate easing is not expected through 2027, while rising energy costs continue to fuel inflation.
James Butterfill, head of research at CoinShares, notes that a move above $80,000 requires improved inflation data or a shift in policy. Conversely, VanEck predicts Bitcoin will reach $100,000 within a year, citing government debt burdens as a catalyst.
The CLARITY Act, which aimed to establish cryptocurrency market regulations, was rejected by the Senate in a 49–50 vote on September 15. Following this, Circle experienced an 11% decline in its stock price. CoinShares expects a revised version of the bill in 2025.
