In April 2024, a significant event is expected, such as halving on the Bitcoin network. Even though this event has not yet arrived, the price of BTC has already seen an impressive increase of 165.7% in a short period of time. This rise in price may continue further.
Another potential event that could occur in the first half of 2024 is SEC approval of Bitcoin Spot ETF applications by large asset managers. This move could lead to the recognition of cryptocurrencies as a reputable asset class and attract large capital to the market, which will contribute to the growth and development of the crypto world.
Approving an ETF may require implementing a system of cryptocurrency-related rules and regulations, as regulating something without a clear official definition is challenging. It is likely that the first round of regulation will be related to Bitcoin, since it is the largest cryptocurrency by market capitalization and the most accepted in traditional markets. Regulators have defined Bitcoin as a commodity and digital store of value comparable to gold.
