The 3 Crucial Things to Watch in Bitcoin Price in Q4 2 Cryptocurrency scrgruppen

Turkish lire; Dr

  • The price of BTC at the end of the year may be affected by macroeconomic factors and regulatory changes, especially the potential approval of a Bitcoin ETF in the US.
  • Market sentiment, endorsements from influencers, and technical analysis can also lead to BTC spikes in the short term.
  • Predictions range from BTC reaching $120,000 to $150,000 in the coming years, with the BTC halving event in 2024 considered a potential catalyst.

BTC year-end catalysts

There are many factors that could affect the price of the underlying cryptocurrency in the last quarter of the year. Below, we will outline these matters and outline some of the latest forecasts from experts and analysts.

One of the most important elements that can play a role is the macroeconomic environment. Rapid inflation, economic crises, and rising interest rates have affected the price of BTC in the past. However, a general improvement in the global economy or a potential shift by the Federal Reserve away from its anti-inflationary policy could send Bitcoin higher.

The US central bank will hold two more FOMC meetings until the end of 2023, where it will decide whether it is time to cut benchmark interest rates.

Regulatory developments are also an important factor. It is safe to say that the majority of governments around the world have so far failed to impose a comprehensive regulatory framework on cryptocurrencies. The United States is undoubtedly among the countries where the SEC has generated a lot of controversy due to its actions.

The potential approval of a spot Bitcoin ETF could change trends and indicate that the industry has huge advancement potential in the world’s largest economy. Let us remember that many financial giants, including BlackRock, Invesco, and Fidelity, have expressed their intentions to launch such a product in America.

Last but not least, market sentiment (news, social media trends, public perception) can cause BTC to rise in the short term. For example, endorsements from influential figures like Elon Musk could push the asset’s valuation northward in a matter of minutes.

Technical analysis, psychological levels, adoption rates, and network developments are additional components that can benefit Bitcoin bulls.

Some of the latest BTC predictions

Countless experts and famous individuals have recently envisioned a bright future for the underlying cryptocurrency, seeing it trading at a new all-time high.

Robert Kiyosaki – American investor, motivational speaker and author of Rich Dad Poor Dad – recently predicted that Bitcoin could rise to $120,000 in 2024 as the US dollar “dies”.

Adam Buck (CEO of Blockstream), Tom Lee (Managing Partner at Fundstrat), and Anthony Scaramucci (former White House official) also made similar predictions.

Another fundamental factor that could lead to a rally is the Bitcoin halving scheduled for the spring of next year. Pantera Capital Analysts He thinks The asset could rise to $150,000 in 2024 as a result of this event.

Special Offer (Sponsored)

Free Binance $100 (Exclusive): Use this link to sign up and get free $100 and 10% off Binance Futures in your first month (conditions).

PrimeXBT Special Offer: Use this link to register and enter code CRYPTOPOTATO50 to receive up to $7,000 on your deposits.

Cryptocurrency scrgruppen

Related Articles

Back to top button