Bitwise has identified three key factors that could drive Bitcoin’s price to $80,000 by the end of 2024.

Although the first cryptocurrency is expected to hit new all-time highs next year, achieving this sooner will require certain conditions to align, according to the asset management firm.

Matt Hougan, Chief Investment Officer at Bitwise, believes Bitcoin needs three specific catalysts to reach $80K by the end of 2024. He also noted that an additional factor could push the price even higher.

Bitwise, one of the fastest-growing crypto asset management firms, offers a variety of investment products. In 2024, it launched Bitcoin and Ethereum ETFs, and in early October, the company filed for an XRP ETF from Ripple.

Hougan predicts that Bitcoin will hit $80,000 by 2025 regardless of circumstances, but for that milestone to be reached in 2024, three conditions must be met:

1. Trump’s Election Victory or Policy Shift by Democrats
   Hougan suggests that if Republican candidate Donald Trump wins the U.S. presidential election in November, or if Democrats—represented by Kamala Harris—ease their stance on crypto, it could significantly boost Bitcoin.

   “Bitcoin doesn’t need politicians to thrive—it just needs them to stay out of the way,” Hougan said, adding that Democrats are already starting to acknowledge the "inevitability" of cryptocurrencies.

2. Fed Rate Cut and China’s Economic Stimulus
   Hougan emphasized that a 50-basis-point rate cut by the Federal Reserve by year-end, along with additional economic stimulus from China, would spark growth in Q4. If these actions don’t occur, investor disappointment could negatively impact the market.

   “Cryptos have recently rallied on the back of such developments,” the Bitwise executive noted.

3. No Major Negative Surprises in the Crypto Industry
   According to Hougan, Bitcoin also needs a period free of disruptions, such as hacks or high-profile lawsuits, to reach $80K. He highlighted how the release of previously locked Bitcoin from the collapsed Mt. Gox exchange and government holdings caused the asset to “stall.”

   “Sudden coin inflows like that are undesirable,” he added.

For Bitcoin to aim for even higher targets—such as $100K in the coming months—Hougan believes it will need support from altcoins. A broader crypto market rally would help BTC gain strength, he explained.

“Bitcoin doesn’t need Ethereum, Solana, or new altcoins to succeed in the long run. But if we want to see sharp growth in the short term—say, $100K in just a few months—altcoin growth would help drive more pro-crypto sentiment,” Hougan concluded.

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