An overview of Bitcoin 2024

Bitcoin Forecast 2024 | Unbiased Pro

Delve into Bitcoin’s performance, safety, and future prospects for 2024, with insights into its performance in 2023, its safety as an investment, and predictions for its future trajectory.



  • Bitcoin is predicted to experience continued price growth in 2024, with projections suggesting a peak price of $88,000.

  • Institutional interest in Bitcoin is expected to persist, adding legitimacy and attracting more institutional investment.

  • Anticipated regulatory developments worldwide may provide clearer frameworks for cryptocurrencies.

  • Technological advancements in blockchain technology could enhance Bitcoin's utility and scalability, contributing to its value growth.


Bitcoin advice and our predictions for 2024

Since 2009, Bitcoin's journey has experienced exhilarating highs and gut-wrenching lows. Early years saw exponential growth, reaching unprecedented price levels that captured the attention of a diverse array of investors, ranging from retail traders to institutional investors. However, with such rapid ascents came inevitable corrections, leading to periods of volatility and uncertainty.

Understanding the past and future of Bitcoin is essential for a financial adviser as it ensures that you can offer your clients well-researched, reliable advice. 


Bitcoin performance 2023

Despite its rocky start at a two-year low of around £13,500, Bitcoin gradually gained momentum, spending much of 2023 trading in the £20,000 to £25,000 range. Investor sentiment improved as Bitcoin performance in 2023 improved, regulatory concerns eased, and institutional adoption continued to grow. As a result Bitcoin's price was buoyed by renewed interest and confidence in the digital asset.

Towards the latter half of 2023, Bitcoin experienced an impressive surge, surpassing expectations and closing the year out at £33,500. The momentum carried over into 2024, with the price of Bitcoin reaching a record high in March 2024 of £57,658. 


Is Bitcoin safe?

Bitcoin’s safety as an investment is a topic of considerable debate and scrutiny. While Bitcoin offers exciting opportunities for investors, it is not without risks as it goes beyond just being cashless. One of the primary risks is volatility, as the price of Bitcoin can experience significant fluctuations in short periods.

Bitcoin operates in a decentralised environment, which means that it is not backed by any central authority or government. While this decentralisation is one of Bitcoin's key selling points, it also means that investors have limited recourse in the event of fraud or theft.

Cryptocurrencies are not regulated in the UK, and no protection is offered by the Financial Ombudsman or the Financial Services Compensation Scheme. For the last several years, the government has been working towards a more regulated crypto industry, and it has recently confirmed that crypto assets are to become regulated in an expansive way.

Whether Bitcoin is safe depends on individual risk tolerance and investment objectives.


What questions will your clients ask about cryptocurrency? 

With cryptocurrencies gaining popularity, clients are turning to financial advisers for insights. It is essential for advisers to be ready to tackle common questions about Bitcoin in 2024, such as these:

Is Bitcoin legal?

Yes, Bitcoin operates within legal frameworks in many countries, including the UK. 

How secure is Bitcoin?

Bitcoin transactions are secured by robust blockchain technology. That said, lost passwords and hacking are potential security concerns you may need to contend with.

What factors influence Bitcoin's price?

Many factors impact Bitcoin's price, including demand, regulatory developments, macroeconomic trends, and technological advancements. It's like a mix of economics and market sentiment.

What are the tax implications of investing in Bitcoin?

Selling Bitcoin for a profit in the UK may trigger capital gains tax. Income tax may also apply to mining or trading activities involving Bitcoin.


What questions should you ask your clients about cryptocurrency? 

When it comes to advising clients about the future of Bitcoin and cryptocurrency investments, asking the right questions is key. Here are some queries financial advisers should consider:

What is your understanding of cryptocurrency?

Understanding your client's knowledge level will help tailor explanations and recommendations to their comprehension level.

What are your investment goals with cryptocurrency?

Knowing your client's investment objectives will guide the creation of a suitable investment strategy aligned with their financial goals.

What is your risk tolerance regarding cryptocurrency investments?

Assessing your client's risk tolerance ensures that recommended investments align with their comfort level, minimising potential stress.

Have you considered the potential tax implications of cryptocurrency investments?

Tax considerations are crucial, and discussing them upfront ensures your clients are aware of potential tax obligations associated with their crypto investments.


What could boost the value of Bitcoin in 2024?

There are a few factors to consider when understanding what could boost the worth of a Bitcoin.

Continued interest from institutional investors could play a significant role. If this trend continues, it could add further legitimacy to Bitcoin and attract more institutional money. 

Governments worldwide are working on establishing clearer regulations for cryptocurrencies, which could help alleviate concerns and encourage more widespread adoption. 

Ongoing technological advancements in blockchain could enhance Bitcoin's utility and scalability, making it even more attractive to investors. 

While nothing is certain in the world of cryptocurrency, these factors could potentially contribute to the worth of Bitcoin in 2024 and beyond.


What is the future of Bitcoin?

Short of peering into a cryptocurrency crystal ball for a Bitcoin forecast, the future of Bitcoin remains a topic of intense speculation and anticipation. 

Will Bitcoin be worth it in 2024? According to a study conducted by UK fintech firm Finder, Bitcoin could hit a peak price of $88,000 (£69,310) in 2024, with some experts even forecasting it to soar as high as $200,000 (£157,000). On the flip side, the study suggests that Bitcoin could also experience lows, with the average lowest price potentially dropping to $35,734 (£28,150) and some experts foreseeing it plummeting as low as $20,000 (£15,750).

Looking beyond 2024, the study anticipates a price increase following a "Bitcoin halving event" slated for April 2024. This involves cutting the reward for mining Bitcoin transactions in half. Panellists surveyed believe that Bitcoin will reach a new all-time high six months after the halving event. 

The future of Bitcoin is a tantalising blend of uncertainty and possibility. While the road ahead may be fraught with twists and turns, the potential for Bitcoin to reach new heights remains palpable. 


Looking to work with Unbiased? 

If you are looking to capitalise on the growing demand for cryptocurrency expertise and expand your client base, Unbiased Pro can help. You can connect immediately with clients looking for the type of expertise you offer and have access to all the tools you need to scale your business.

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