Standard Chartered analyst Geoff Kendrick believes that the demise of mid-tier U.S. lenders and the stabilisation of risk #Cryptocurrencies assets will cause Bitcoin's value to soar to $100,000 by the end of 2024. Furthermore, according to Blockstream CEO Adam Back, #Bitcoin might reach $100,000 before the cryptocurrency's second halving, which is anticipated to take place in 2024. Significant price increases have often been preceded by the expectation of the halving event, which lowers the rate of new #BTC creation. Notwithstanding the SEC's hesitation to officially approve a spot Bitcoin #ETF's , recent events, combined with the fervour of trade and the impending halving, suggest that the #cryptocurrency industry is about to enter a revolutionary phase.

#uma Grayscale's massive selling pressure could have been enough for digital gold to retrace swiftlyDisclaimer: 🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice. The cryptocurrency market's momentum drop we witnessed recently has a perfect explanation: Grayscale, a leading digital asset manager, reportedly decreased its Bitcoin holdings by approximately 52,227 #BTC , equating to a staggering $2.14 billion. This sell-off is significant enough to dampen the bullish momentum that has persisted on the market recently. Grayscale's move came in the wake of the Bitcoin #ETF's approval, which marked a watershed moment for cryptocurrency's mainstream financial integration. Alongside Grayscale, other major players like iShares by BlackRock, Fidelity and Bitwise hold substantial amounts of Bitcoin, collectively amounting to billions of dollars in value.BTC/USD Chart by #tradingview The disposal of such a substantial sum by Grayscale could understandably cause a temporary setback in market sentiment. The market's reaction to this divestment has been swift, with Bitcoin prices reflecting the impact of the reduced holdings. However, it is essential to consider the broader market context.Bitcoin's price analysis indicates a dip, but it is crucial to note that the fundamental drivers of the bull market remain intact. The adoption of cryptocurrencies continues to grow, with institutional interest still high and new developments in #BlockchainTechnology emerging regularly. These factors suggest that the bullish trend may resume once the immediate impact of Grayscale's sell-off dissipates.Moreover, the cryptocurrency market has shown resilience in the face of similar challenges in the past. Bitcoin, in particular, has a history of bouncing back from corrections, bolstered by its limited supply and increasing demand, especially from institutional investors seeking alternative assets amid economic crises. Looking ahead, the market is likely poised for recovery, with the temporary bearish pressure likely to ease as the ecosystem adjusts to Grayscale's realignment.

The creator of the Digital Assets Council of Financial Professionals, Ric Edelman, has noted that approximately 77% of financial advisers are anticipating the launch of spot #BTC exchange-traded funds (ETFs) to provide to their clients.
This expectation arises from the possibility that spot #Bitcoin #ETF's will offer a more direct and controlled exposure to Bitcoin, potentially matching the risk profiles and inclinations of its customers.
The waiting period is a reflection of the financial advice community's strong interest in and desire for more easily accessible and regulated Bitcoin investment products.