Matrixport’s Insightful Report Predicts 2024 Events Shaping Bitcoin and Crypto Landscape

Estimated read time 2 min read
  • Matrixport’s report unveils six key events projected to shape the Bitcoin and crypto landscape 2024.
  • Predictions include the SEC approving a Bitcoin ETF, Circle’s potential stock market listing, FTX’s return to prominence, and more.

Matrixport, a prominent player in the digital asset space, has released a comprehensive report titled “2024 Unveiled: Six Micro and Macro Events That Will Shape Bitcoin,” highlighting crucial events anticipated to impact the crypto industry positively and altcoinsnow. The report emphasizes micro and macro events, explicitly focusing on Bitcoin.

The report’s first prediction centers around the US Securities and Exchange Commission’s (SEC) expectation to approve a Bitcoin ETF. Matrixport anticipates this approval by January 2024, with trading expected to commence by February or March. This development is a significant catalyst for increased institutional investment in Bitcoin.

Another noteworthy prediction involves the potential listing of stablecoin issuer Circle on the stock market by April 2024. This move is a crucial step towards mainstream acceptance of digital assets. Behind the stablecoin USDC, Circle is reportedly exploring an Initial Public Offering (IPO) in early 2024.

FTX’s Comeback and Synergy with Bitcoin Halving

Matrixport forecasts FTX’s operational return by May or June 2024, with the exchange projected to reclaim its position as a top 3 exchange within 12 months. The report suggests a synergistic effect of these events with the Bitcoin halving cycle, expected to occur at the end of April 2024. This halving is potentially impactful, making Bitcoin the most complex asset globally.

Matrixport’s fifth prediction revolves around Ethereum’s EIP-4844 upgrade scheduled for Q1 2024, acknowledging it as a less significant yet noteworthy event. Additionally, the report highlights the potential US Federal Reserve interest rate cut by mid-2024 as a macro event with substantial implications for the crypto market.

The report concludes with a short-term analysis of Bitcoin’s price movement, suggesting potential rallies triggered by upcoming US CPI data. The forecast envisions Bitcoin attempting to break out, potentially reaching up to $45,000 by the end of 2023, fueled by a ‘Santa Claus rally.’

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