The end of December is the time to summarize the results of the year and make plans for the coming year. In this article we will analyze the factors affecting the price of BTC and the most likely scenario for its movement in 2024
Macroeconomics
▪️ Key Rate. Central banks of developed countries have taken a pause in the cycle of rate hikes. According to the forward curve with a probability of 87% the first rate cut by the Fed will occur in March.
▪️ Liquidity. The amount of money in the system is growing thanks to the reverse repo market, which is stimulating investor appetite for high-risk assets.
Domestic factors
▪️ Halving. Reduced reward to miners according to VanEck analysts (https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-15-crypto-predictions-for-2024/) plays far from a key role in pricing, but has a positive impact on sentiment.
▪️ Spot ETF. The adoption of spot Bitcoin ETFs is in the final stages and is likely to be (https://www.foxbusiness.com/markets/sec-could-make-crypto-history-in-new-year-with-first-spot-bitcoin-etf-approval) approved by the SEC in January. According to Goldman Sachs, this will attract more institutional investors
Technical picture
Any fluctuation in price is an interaction of supply and demand on an exchange. If we look at the map of traded volumes, we can see that a large number of buy volumes are distributed from the bottom: range #1 $32,000 - $26,000 and range #2 $24,000 - $18,000. This means that the downside will require a huge amount of effort from sellers to overcome these areas.
🔰 Priority scenario for 2024: continued upward movement from historical high $69,000 problems.
Bet 👍 if you're waiting for to the moon in 2024
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The introduction of spot bitcoin ETFs, possibly in early 2024, brings considerable uncertainty for traditional #crypto exchanges like Coinbase. ETF researchers anticipate that this move could significantly impact the market structure, mainly due to reduced transaction fees.
Predictions and Expectations
Some experts predict that if spot #BTC ETFs are launched alongside the reduction of bitcoin mining rewards in April, it could trigger a significant increase in BTC value, potentially reaching $100,000. Samson Mow from Jan3 even suggests that the approval of a spot #bitcoin ETF in the USA could catapult bitcoin's value to as high as 1 million dollars in the ensuing days or weeks.
 Skeptical Views
However, not all forecasts are so optimistic. Nate Geraci of ETF Store and Bloomberg's analyst Eric Balchunas point out that the future might not be as bright for centralized crypto exchanges. Geraci specifically warns that the approval of a spot bitcoin ETF could spell a "bloodbath" for cryptocurrency exchanges.
 

 Transaction Fee Differences
Balchunas highlights a significant difference in transaction fees. While spot bitcoin ETFs would only have a 0.01% fee, exchanges like Coinbase charge up to 0.6%, depending on the transaction volume and type. This discrepancy could lead to substantial market price competition and potential losses for exchanges that have invested heavily in marketing campaigns, such as Super Bowl ads.
 Financial Impact on Coinbase
Coinbase, historically reliant on transaction fees for the bulk of its revenue, reported $2.4 billion in such fees in 2022, accounting for 77% of their total revenue. The company is now working to reduce its dependence on fees and diversifying its revenue streams into other services like subscriptions and financial products.
 Conclusion
Overall, the potential introduction of spot bitcoin ETFs seems to bring not only hope for a rise in bitcoin's value but also significant uncertainty for traditional crypto exchanges. These exchanges will need to find new ways to compete with the lower costs and fees brought about by innovations like spot ETFs.
#crypto2023 #crypto2024catch
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 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The Shiba Inu (SHIB) community overwhelmingly won a poll for the most vocal and passionate community. 
Read more on: https://thecryptobasic.com/2023/12/18/shiba-inu-lead-reacts-as-shib-wins-big-poll/
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Lee Bok-hyun, the head of South Korea's Financial Supervisory Service (FSS), intends to meet with Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), in January to discuss the regulation and current state of the #cryptocurrency market.
According to a December 18th report from South Korean media Chosunbiz, Lee plans to visit the SEC in January to meet with Gensler. The purpose of this meeting is to discuss the current state of the cryptocurrency market and future directions of regulatory policy in this area. Cointelegraph attempted to obtain a comment from the SEC but was unsuccessful.
 A South Korean government official emphasized the importance of international regulatory cooperation for the borderless virtual asset market.
 This meeting comes at a time when financial regulators from both countries are facing challenges. There is speculation that the SEC might approve more spot Bitcoin products in January. On the other hand, the FSS plans to implement new guidelines for crypto investors depositing funds on exchanges in July 2024.
 Tension exists between the USA and South Korea over the extradition of Do Kwon, the co-founder of Terraform Labs. Kwon, arrested in Montenegro for using forged documents, may face extradition to the USA.
Under Gensler's leadership, the SEC has faced criticism for its ambiguous stance on spot crypto ETFs. Despite having several pending applications from asset managers, including BlackRock, it has yet to approve a spot fund for #BTC or Ether.
#crypto2024SpaceCatch #crypto2024catch #Binance
 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Bitfinex analysts project the global crypto user base could soar to between 850 and 950 million in 2024, given the current bullish market trends.Despite a challenging 2023, the crypto community shows robust growth, with the global number of users climbing from 432 million to 575 million.
The Rising Tide of Crypto Adoption
The cryptocurrency landscape, despite facing a turbulent 2023, is set for a significant upturn. Analysts from the crypto exchange Bitfinex have shed light on an exciting development: the number of global cryptocurrency users, standing at 575 million as of December 1, 2023, is poised for an impressive jump. According to their insights, this number could escalate to between 850 and 950 million by 2024, contingent upon the continuation of bullish market conditions.
Analyzing the Growth Trajectory
Bitfinex analysts attribute this predicted surge to increasing global interest and acceptance of cryptocurrencies. Their report emphasizes that investment activities within the crypto sphere are gaining momentum. One key development that could propel the market beyond current expectations is the approval of a Bitcoin spot exchange-traded fund (ETF). Such a move, as noted by Grayscale CEO Michael Sonnenshein, could significantly boost Bitcoin adoption, potentially unlocking access to the vast “advise market” in the United States, estimated to be worth around $30 trillion.
Statista’s Projection: A Steady Climb
In parallel, the statistics website Statista provides corroborative projections, indicating a steady growth curve for crypto user adoption. Statista forecasts the number of crypto users to reach nearly 833 million in 2024, with a potential to expand to around 992 million by 2028. These projections highlight the sustained interest and expansion of the cryptocurrency realm.
The Future of Crypto: Beyond Numbers
The anticipated growth in crypto users is not just a numerical milestone but signifies a broader shift in financial technology and global economic participation. As cryptocurrencies continue to permeate various sectors, from finance to gaming, their influence is reshaping how value is exchanged and stored in the digital age. The approaching billion-user mark is a testament to the enduring appeal and potential of cryptocurrencies, heralding a new era of decentralized digital assets.
The burgeoning user base of cryptocurrencies signals not only a paradigm shift in digital transactions but also underscores the growing mainstream acceptance of blockchain technology. As the world edges closer to a billion crypto users, the landscape is ripe for innovation, investment, and unprecedented growth, redefining the contours of the global financial ecosystem.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#crypto2024catch

If you're seeking an overview of today's significant events in the world of #cryptocurrencies , you're in the right place. This article provides updated information on key trends and events impacting bitcoin, blockchain technology, decentralized finance (DeFi), non-fungible tokens (NFTs), Web3, and cryptocurrency regulation.
SEC Decision Impacts Coinbase and the Cryptocurrency Market
The United States Securities and Exchange Commission (SEC) has opposed Coinbase's request to establish specific rules for cryptocurrency transactions considered as securities. This decision comes at a time when the cryptocurrency market is dealing with uncertainty and volatility. Additionally, Adam Back, the CEO of Blockstream, expressed optimism about the future of #bitcoin , predicting that 2024 will be a period of recovery. This contrasts with the recent drop in SafeMoon's price, which fell by 31% following the announcement of its bankruptcy under Chapter 7.
 Details on the SEC's Rejection of Coinbase's Proposal
The SEC made it clear that additional specific rules for cryptocurrencies are unnecessary, as the existing laws are sufficient to regulate this sector. SEC Chairman Gary Gensler emphasized that cryptocurrencies are already covered under existing securities laws. This decision could have significant implications on how cryptocurrencies will be regulated in the future, indicating that the SEC is taking the cryptocurrency sector seriously.
 Adam Back's Perspective on the Future of Bitcoin
Adam Back, CEO of Blockstream and a pioneer in cryptography, spoke to Cointelegraph about his predictions for the future price of bitcoin. He suggests that upcoming events, such as the next reduction in bitcoin mining rewards, could increase its value. Back emphasized that historical trend lines and previous market cycles indicate that bitcoin has the potential for further growth, despite recent market fluctuations.
 SafeMoon's Financial Troubles
The cryptocurrency SafeMoon is facing financial difficulties following its recent bankruptcy. This move represents a pivotal point in the company's history, which had been striving to gain investor trust in its decentralized financial protocol. This dramatic drop in the value of the SFM token exemplifies how regulatory issues and financial instability can lead to rapid losses in the cryptocurrency market. This story also highlights broader issues that can affect investor confidence in new and unstable cryptocurrencies.
#crypto2023 #crypto2024catch #Binance
 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“