Leaders in the crypto industry are declaring the beginning of a fresh bull run, and many are expressing expectations of Bitcoin (BTC) reaching new record highs in 2024, surpassing $100,000.
Talking to CNBC, Pascal Gauthier, CEO of Ledger, mentioned that 2023 was a year to get ready for upcoming growth. He expressed positive feelings about the sentiments for 2024 and 2025, describing them as “very encouraging.”
According to David Marcus, CEO of Lightspark, once the speculative phase, which is almost complete but not entirely done, is over, the focus can shift to real builders concentrating on technology and solving real-world problems. Marcus envisions moving away from a large digital casino for trading to a space where technology addresses meaningful issues.
Crypto Industry’s Optimism for 2024: ETF Hopes and Bitcoin Halving
Investors are now shifting their focus to positive developments in the crypto space, with two key factors standing out. Firstly, there’s growing excitement about the potential approval of a Bitcoin exchange-traded fund (ETF), which could attract larger traditional investors who were previously hesitant about crypto.
The second noteworthy event is the upcoming Bitcoin halving scheduled for May 2024, occurring every four years. However, Pascal Gauthier, CEO of Ledger, cautioned that the current rally, largely based on ETF approval expectations, might face challenges if regulators reject the product.
Gauthier emphasized, “An all-out ETF rejection could play havoc to this run as well, hence definitely something to be mindful of.”
Standard Chartered, in an April statement, predicted that Bitcoin would reach $100,000 by the end of 2024, contingent on the approval of several ETFs. Matrixport also shared a positive outlook, anticipating Bitcoin to hit $63,140 by April 2024 and $125,000 by the close of the following year. The crypto industry is abuzz with announcements of a new bull run, with increasing voices predicting all-time highs for Bitcoin in 2024, surpassing $100,000.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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