Many attendees of Binance Blockchain Week in Istanbul believe that Bitcoin could rise to new peaks in 2024 thanks to many bullish factors such as the next halving.
One person who mentioned this issue was Richard Teng – Regional Market Manager at Binance. He agrees that the potential launch of a US spot BTC ETF and the upcoming Bitcoin halving in the spring could trigger a bull run for the leading digital asset in 2024.
He also mentioned two other factors worth XEM when predicting cryptocurrency prices. The first is that many financial giants, including BlackRock and Fidelity, have recently embraced the “cryptocurrency and blockchain agenda.”
Teng believes this could attract more investors to join the ecosystem and increase mass adoption in the near future:
“They are going to launch new investment products like ETFs and that will bring in new investors and liquidation .”
The second factor is that regulatory clarity is now more important than in previous years. According to the Binance executive, this can give investors a sense of security and thus increase their confidence in entering the market.
The next person to share his stance is Eowyn Chen - CEO of Trust Wallet. She also agrees that the launch of a BTC spot ETF in the United States and the halving will likely cause Bitcoin prices to spike next year.
Additionally, Chen claimed the results of the US presidential election could “change the dynamic and accelerate the clarification process.” As previously reported, the campaign features several individuals who have been outspoken advocates of the digital asset industry, such as Robert Kennedy.
On the other hand, Chen warns that current global macroeconomic conditions have flaws and could negatively impact BTC prices. She concluded:
“I don't expect a super high growth market, but I think a little bit of positivity to give more momentum to builders is good enough for us to get a base and build more.”
Sun Kyu from the Contentos blockchain protocol also contributed comments. He cannot predict whether the crypto community will see a new BTC ATH in 2024 but thinks valuations will “definitely be higher” than they are now:
“I think next year will be very interesting. We are waiting for the US government to approve a BTC ETF, which will attract a lot of institutional investors. If that happens in the next year or so, it will be very optimistic.
And of course, we have the halving next year, so people are really looking forward to that. These factors actually improve market conditions. We don't know what the new ATH is, but we will definitely see higher numbers next year.”
Esra Kahraman – Marketing Director of BTCHaber – is a bit more cautious, suggesting that investors should wait a little longer before witnessing a proper Bitcoin price increase. However, she believes such a recovery is imminent and could begin in the second quarter of 2024.
For his part, Ali Tunc – Product Manager of Cointelegraph Turkey – argued that the current outlook of the cryptocurrency market looks like the beginning of a bull season:
“I have seen two bull seasons and now I feel like I am starting a new season. I can't know for sure, but I hope this is the beginning."
Solar Brand Ambassador Elaine Egan said 2024 will be beneficial for cryptocurrency projects that have survived the prolonged bear market.
She believes that the coming year will see more adoption, a wave of new investors entering the digital asset space, and a growing market trend. Additionally, Egan predicts Japan will play a key Vai in the next bull run and emerge as a global leader in the crypto world.
You can XEM the coin prices here.
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Minh Anh
According to Crypto Potato
