In the last quarter of 2023, BTC enjoyed significant gains and analysts projected 2024 as another bull year due to ranging factors of which Bitcoin halving and approval of the Bitcoin spot ETF are most significant.
Blackrock announcement about the approval of the spot ETF over the weekend could be the catalyst that have triggered the market in the first day of year 2024 with BTC and global marketcap up by 6% respectively and currently trading above the $45k mark.
While many are anticipating bullrun to kickstart after the Bitcoin halving, I have a feeling there could be a twist to this year's bullrun as it may not completely depend on the factors listed above. It's also important to note that the US interest rate is on a decline which is a good thing that could drive investors to opt for crypto. What do you think, let's discuss.
One thing I like about bitcoin of these days is that it obeys predictions. I mean all the projections about bitcoin last year has happened and we shouldn't be surprised if the projects for this year will still happen. The most amazing happening is the ability of bitcoin to clutch and remain in the 45k range the first day of 2024.
There has been news circulating bitcoin this time around and these news will make or mare bitcoin price projections. There are more positive to rise the price than negative. For instance;
- Halving and the accompanying bull run
- BlackRock and spot ETF approval
- The US interest rate and more
So, we should hope for the best in the coming months