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.
Meh. We have been talking about Bitcoin ETFs and bitcoin spot ETFs as early as 2014 and we have yet to encounter a successful one. Don't want to sound like the pessimistic clown in the thread but I don't feel like the ETF, whether rumored or true, is going to give bitcoin the rightful push it needs if it wants to shoot for 100k this year or the next. It just doesn't have that flavor per se, unlike past reasons for bitcoin's ATH shots like Tesla buying off a significant amount of bitcoins in one go and going on a campaign to tell the whole world bitcoin is the future of currency, those kind of stuff makes more sense to be the reason for bitcoin's pumping, this one doesn't.
I'm guessing the only reason why we're getting this massive pump in coin value is due to the fact that people are becoming more confident about bitcoin's longevity and price security, they realize that with something as financially secure and safe as bitcoin, there's no such thing as down time really. Or I can be wrong and it is really all about the ETF.