James Van Straten, chief analyst at CryptoSlate, said: Bitcoin He shared a potential 2024 timeline for (BTC). The analyst lists the approval of Spot BTC ETFs in January next year as the first step in the expected timeline.
#Bitcoin Potential 2024 Timeline
NEWS CONTINUES BELOWJan: ETF Approval
Feb: ETF Trading (Based on GLD)
March – Potential for first-rate cut
April – Halving
May – November: Rate cuts and liquidity
December – FASB is expected to adopt fair value accounting for Bitcoin— James Van Straten (@jimmyvs24) December 13, 2023
NEWS CONTINUES BELOW
The next step on Van Straten’s timeline is ETF trading. Then, he expects the first interest rate cut in the USA. This is followed by the highly anticipated Bitcoin halving event, which is predicted to take place in April 2024.
The analyst also shared his expectation that interest rate cuts may continue between May and November next year. This will cause liquidity to flow into the cryptocurrency market as investors begin purchasing riskier asset classes, including cryptocurrencies. Finally, Van Straten noted that the FASB is expected to adopt fair value accounting for BTC in December 2024.
As Koinfinans.com reported, MicroStrategy founder Michael Saylor provided an update on the FASB’s potential adoption of fair value accounting for Bitcoin. published. In a post published on December 13, the FASB formally adopted fair value accounting for BTC for fiscal years beginning after December 15, 2024.
FASB has officially adopted Fair Value Accounting for #Bitcoin for fiscal years beginning after Dec 15, 2024. This upgrade to accounting standards will facilitate the adoption of $BTC as a treasury reserve asset by corporations worldwide. https://t.co/4GOuji6cr0
— Michael Saylor⚡️ (@saylor) December 13, 2023
In his article, Saylor added that this upgrade in accounting standards would “facilitate the adoption” of BTC as a treasury reserve asset by companies around the world.