Will 2024 be a key year for Bitcoin?
Hello friends, without a doubt the year 2024 will be a key year for Bitcoin. The last 4 years have been quite eventful for cryptocurrencies marked by the brutal growth of 2020 and 2021 with which we saw Bitcoin touch $68,000 followed by chaos absolute that brought us 2022 in which the price of bitcoin plummeted non-stop to 15,000 with the end of Luna, Celsius, FTX and the increases in rates and international tensions among many other things.
However, despite all this, the banking crisis in the United States, which reminded us of what happened in 2008, caused bitcoin to begin a change in trend that has led it to rise more than 130% so far this year, however. If something has marked this year 2023, it has not only been the recovery of the price of Bitcoin but the arrival of very important news and events that are clearing the way for us to see much more serious increases in the future.
| But why do I think 2024 is going to be so important for bitcoin? |
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First of all, because of the long-awaited halving, a super important event for Bitcoin not only for the halving of the rewards to miners that will make the supply of bitcoin more valuable but also for the historical impact that this event has had for the price of bitcoin and if we look back at the previous bitcoin halvings, the price has followed a very similar pattern, starting a fairly strong upward trend shortly after the halving that has dragged it towards new all-time highs.
Always before each halving there is usually a strong correction, an event that is estimated to occur in mid-April and taking into account that we are almost in December, it is practically around the corner. Secondly, we have the year 2024 is going to be very important for several countries due to their elections and without going any further, one of the main countries that will have to elect a new president is the United States. The United States will have its elections in 2024, specifically on Tuesday, November 5 and without a doubt this In fact, it is creating quite an expectation in the crypto sector due to the presence of several presidential candidates who are in favor of the cryptocurrency sector and bitcoin.
Candidate Robert F Kennedy Jr is one of the candidates who has most supported bitcoin recently, even proposing a new support system for the US dollar that uses different assets such as bitcoin to be able to support its value or like Vivek Ramaswamy Republican candidate who not only supports cryptocurrencies but has also recently revealed that he holds both bitcoin and ethereum and trusts in the potential of this sector or even Donald Trump himself who in this case has not shown himself publicly in favor of bitcoin or cryptocurrencies.
But it is true that Donald Trump has taken some important steps such as the launch of his NFTS collection thanks to which he will hold nearly half a million dollars in cryptocurrencies, and beyond cryptocurrencies, his possible arrival could have a positive impact on the economy. American, in fact, Donald's possible victory according to the famous investment firm VanEck would be related to the price of bitcoin, so if it finally happened it would end up being positive for both bitcoin and other markets and all this could mean a before and after for the growth and consolidation of this technology in the United States.
Since in recent months it has not been easy at all due to the lack of Clarity and the continuous attacks by Gary Gansler and company, the only thing that has helped is to make a large part of the crypto companies have decided to look for new places in the to be able to grow without having to be worried about receiving protests or attacks without any type of basis for what We must also add the possibility that new countries such as Panama or Argentina with its new president continue to join the cryptocurrency sector.
Since this is something that seems increasingly possible as adoption expands internationally, in fact this is also being reflected. Even in China, which after having been one of the countries with the most restrictions regarding bitcoin, reaching even to ban it within the country itself has been making a small, more positive leap towards cryptocurrencies for a few months, for this reason a great year is expected for bitcoin and all altcoins since with the arrival of the halving and ETFs it is expected that a strong liquidity to the market, many good news are yet to come, we just have to be attentive.
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This is an interesting post but I think bitcoin year will be 2025 after the halving has occurred
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