Crypto News – Asset manager VanEck believes that regulatory changes following the next U.S. presidential election and a long-feared U.S. recession would force Bitcoin to reach a new all-time high in late 2024.
According to Asset Manager VanEck’s Report, Binance could lose its Leadership Position in 2024
Including price projections, the timing of spot Bitcoin exchange-traded fund (ETF) launches, the effect of Bitcoin halving, and the emergence of dominating crypto platforms, VanEck released 15 predictions for the cryptocurrency market on December 8.
In the first quarter of 2024, VanEck believes with confidence that the first spot Bitcoin ETFs will be approved. It did include a dire forecast for the US economy, though.
The US recession will finally arrive, but so will the first spot Bitcoin ETFs. More than $2.4 billion may flow into these ETFs in Q1 2024 to support Bitcoin’s price.
VanEck
Ether Will Rise But Not Enough To Overtake BTC, Forecasts Suggest
Additionally, the company declared that there will be no market disruption following the April or May BTC halving, although there will be a price increase. Furthermore, it projects that Bitcoin will reach an all-time high in Q4 2024, possibly as a result of regulatory changes and political developments that follow a US presidential election.
The company added that while it thinks Ether will beat enormous tech equities in 2024, it probably won’t surpass Bitcoin.
Like past cycles, Bitcoin will lead the market to rally, and the value will flow into smaller tokens just after the halving. ETH won’t begin outperforming Bitcoin until post-halving and may outperform for the year, but there will be no ‘flippening,’
VanEck
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