Curb your enthusiasm — crypto prices aren't going to move as quickly as you think

A $100,000 target for Bitcoin isn’t off the table for 2024 — but it could be a slow and steady rise rather than the quick one you might be anticipating.

February has been great for Bitcoin (BTC) — there’s no denying it. Even the most cautious, poker-faced of investors would have found it hard to contain their excitement as BTC stormed past the $50,000 milestone. 

So optimistic was the sentiment that prices barely even flinched at the January CPI report — a 2% drop is nothing in crypto terms. Comparisons to the 2021 bull run were naturally drawn, fueling a fresh set of “Bitcoin at $100,000” predictions.

This excitement, however, should be tempered. On close examination, the current rally appears to be largely psychologically driven. The bigger picture indicates we’re in for a lot more of the boring price action that preceded it, and that 2024 will be altogether different from the euphoria of 2021.

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