Last updated: 25.05.2024 – 17:31
For the crypto market in 2024 crypto bull season Their expectations are based on many important developments. Here is detailed information about these expectations and their analysis.
Bitcoin Halving Event
The halving of Bitcoin mining rewards will take place in April 2024. This phenomenon reduces the supply of Bitcoin, increasing pressure on demand and has historically led to price increases. Significant increases in Bitcoin price have been observed after previous halving events.
Approval of Bitcoin and Ethereum ETFs Along with Bitcoin spot ETFs, the approval of Ethereum ETFs could attract the interest of institutional investors in the crypto market. Approval of such ETFs could increase market liquidity and investor confidence, leading to upward movements in prices. Large investments in these ETFs are expected throughout 2024.
Performance of Ethereum and Other Altcoins
Major updates to Ethereum, such as EIP-4844, which will reduce scalability and transaction costs, can create activity in the crypto market. At the same time, the growth of Solana, Cardano and other layer 1 blockchain projects also creates positive expectations for the market. These developments can attract investors’ attention and increase overall market value.
Corporate Investments and Regulatory Changes
Accounting changes and regulatory improvements that will make it easier for corporate companies to keep crypto assets on their balance sheets could increase overall market acceptance. Additionally, the uncertainty and economic incentives created by the US presidential elections may also work in the market’s favor. In particular, regulatory changes and positive policies towards crypto in the US may encourage large investors to enter the market.
The Growth of Decentralized Finance (DeFi) and NFTs
Decentralized finance (DeFi) projects and NFT (non-fungible token) markets can stimulate the market by bringing new participants into the crypto ecosystem. DeFi projects are making financial services more accessible, while NFTs are revolutionizing art, gaming and other digital content. Innovations in these areas and increasing adoption rates carry significant growth potential in the crypto market.
Macroeconomic Factors and Global Economic Policy
Developments in the global economy can directly affect the crypto market. For example, central banks’ interest policies, inflation rates and economic growth expectations may be decisive in investors turning to crypto assets. During periods of low interest rates and high inflation, investors may switch from traditional assets to crypto assets.
These six factors stand out as important factors that could trigger the bull season in the crypto market throughout 2024. It is important for investors to follow these developments closely and evaluate the opportunities in the market.
