Future drivers of cryptocurrency market growth, according to Matrixport:
1. By January 2024, it anticipates the SEC to approve a Bitcoin ETF, with trading expected to commence by February or March.
2. Stablecoin issuer, Circle could be listed on the stock market by April.
3. While the announcement of FTX's winning bid could occur in December 2023, it projects the exchange to be operational by May or June 2024. FTX is anticipated to reclaim its position as a top 3 exchange within twelve months.
4. The abovementioned three events and the Bitcoin halving cycle are expected to provide a healthy dose of momentum into the following year.
5. Although seeing this as a significant upside catalyst is challenging, in Q1 2024, Ethereum’s IEP-4844 upgrade is scheduled to take place.
6. This also coincides with the potential U.S. Federal Reserve interest rate cut by mid-2024, as market pricing indicates the first rate cut happening in June 2024.
