Factors Influencing Bitcoin's Performance in 2024:

- Institutional adoption, regulatory changes, macroeconomic trends, and the most recent halving event can all impact Bitcoin's price in 2024.

- Increased demand for block space on Bitcoin's network and the adoption of the Lightning Network could enhance Bitcoin's utility and potentially drive its price higher .

- Interest rate decisions by central banks, such as the U.S. Federal Reserve, can also influence Bitcoin's performance .

- The halving event, which reduces the rate at which new coins are created, has historically affected Bitcoin's price, but its significance is still debated .

- Approval of spot Bitcoin ETFs could have a positive impact on Bitcoin's price and add legitimacy to the cryptocurrency market .