BTC ETF and halving hype
Crypto Banter predicts that a Bitcoin ETF will be approved with major players included in the first quarter of 2024. The move is expected to further legitimize Bitcoin and could inject up to $2 billion into the market.
The Bitcoin halving is scheduled for Q1/Q2 2024 and is expected to align with the impact of ETFs on demand, thereby reducing the supply side. Historically, Bitcoin tends to peak about a year after the halving event.
The Fed’s pivot and the surge in global liquidity
The recent Federal Open Market Committee shift by Fed Chairman Jerome Powell suggests a possible change in monetary policy. An expected rate cut in mid-2024 could create a more favorable monetary environment, with a positive impact on liquid asset prices.
With the global interest rate cuts and loose monetary policies, liquidity has surged, especially from China. This influx of liquidity is expected to attract more funds into various markets.
Election Year and FASB Rule Changes
The historically bullish trend in election years, coupled with the stock market breaking out to new all-time highs, presents an interesting dynamic. The new regime of crypto-friendly presidential candidate Donald Trump has further added to the optimism.
Meanwhile, new FASB rules in 2024 will allow for real-time reflection of the value of Bitcoin on balance sheets, which will boost corporate adoption of Bitcoin by demonstrating its dynamic asset potential.
ETH ETF Approval and $SOL Futures ETF
Ethereum’s spot ETF filing mirrors Bitcoin’s journey, with approval expected in Q3/Q4 2024, positioning ETH as the next crypto star.
Following the trajectory set by Bitcoin and Ethereum, the logical progression leads to SOL or XRP. Crypto Banter prefers SOL, expecting a futures ETF to attract attention and diversify portfolios.
Altcoin mania and stablecoin mass adoption
However, growing liquidity is expected to attract investors to explore the cryptocurrency risk curve, paving the way for altcoin mania throughout the year.
With BlackRock’s participation in Circle and Tether’s record market cap, stablecoins are expected to experience explosive growth in 2024. Growing concerns about currency debasement in developing countries are further fueling this trend.
Crypto Banter’s 2024 forecast offers a multifaceted view of the expected cryptocurrency boom, providing enthusiasts and investors with a nuanced perspective on the underlying driving forces shaping the cryptocurrency landscape in the year ahead.
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