🚀 Bitcoin Bulls Eyeing 2024: 7 Catalysts That Could Ignite a BTC Surge
🌐 Cryptocurrency Forecast: Bitcoin (BTC) Price Eyes $45K Milestone by Year-End
The resilience of Bitcoin's price throughout the year is paving the way for an exciting end to 2023 and a potentially monumental 2024.
1. Bitcoin Spot ETF Approval (January)
The first-ever Bitcoin Spot ETF is anticipating a positive decision from the SEC in early 2024. Bitwise estimates that this could capture 1% of the $7.2 trillion U.S ETF market within five years, signaling a massive $72 billion inflow into Bitcoin.
2. FED Rate Cuts (Starting March)
Projected rate cuts by the Federal Reserve starting in March 2024 could spell good news for the crypto space. With rates possibly dropping below 2.6% by October, the crypto market is poised to benefit from multiple rate cuts throughout the year.
3. Bitcoin Halving (April)
The highly awaited Bitcoin Halving in April 2024, reducing miner rewards from 12.5 BTC to 6.25 BTC, is expected to decrease new Bitcoin issuance, increasing scarcity and potentially driving up the token's value.
4. Markets in Crypto-Assets (MiCA) Law EU (June)
The EU's tailored crypto law, set to come into effect in June 2024, promises legal clarity and compliance.
5. X Payment Implementation by Elon Musk (August)
Elon Musk, the CEO of X (formerly Twitter), is anticipated to introduce the first crypto-based payment system in August 2024.
6. US Elections (September)
As the US presidential elections loom at the end of the third quarter, the crypto space may receive a boost, especially if former President Donald Trump, known for his favorable stance on cryptocurrencies, sees success.
7. FASB for Bitcoin (December)
The Financial Accounting Standards Board (FASB) confirming the 'Fair Value' approach for corporate crypto holdings, effective December 2024, could encourage more institutions to enter the crypto space.
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