1. Possible inflow of institutional money into Bitcoin
In November, the world's largest exchange operator, Intercontinental Exchange (ICE), plans to launch a global regulated ecosystem for digital money, Bakkt, within which ordinary users and various institutions will be able to buy, sell, store and spend crypto assets. "Bakkt is being created to help crypto market to develop safely and effectively," ICE representatives said.
2. Regulators realized that BTC is the future
In March, a meeting of finance ministers and heads of central banks of the G20 countries was held in Buenos Aires. The forum participants discussed issues related to the regulation of the cryptocurrency and concluded that it does not yet threaten the world financial system.
Today a number of countries demonstrate a positive attitude towards cryptocurrencies. In particular, Gibraltar, Malta, and Switzerland intend to become the leading blockchain hubs.
3. Bitcoin ETF coming sooner rather than later
Currently, a solid number of applications for the launch of Bitcoin ETF is awaiting approval from the United States Securities and Exchange Commission (SEC). Since there are already derivatives on cryptocurrency on CFE and CME permitted by the Commodity Futures Trading Commission (CFTC), it is difficult to imagine that bitcoin ETF will not be approved by the SEC. And many believe that this is only a matter of time.
4. Bitcoin is an excellent asset for diversifying the investment portfolio
Specialists at Yale University (the USA) believe that cryptocurrencies, including bitcoin, are neither affected by the stock market and macroeconomic factors nor correlated with the currency or commodity assets.
According to analysts, each diversified investment portfolio should have from 1% to 6% of bitcoins.
5. Increased demand for cryptocurrency in emerging markets
Over the past few months, the volume of BTC trading has significantly increased in Kenya, Mexico, Nigeria, and the Philippines, and in countries such as Argentina, Venezuela, and Zimbabwe, the digital gold is one of the few viable alternatives to local rapidly depreciating currencies.
According to experts, despite the fact that the majority of cryptocurrency buyers from developing countries are small retail investors, their activity indicates a tendency to recognize bitcoin at the global level.
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This year has been pivotal for Bitcoin, the world's leading cryptocurrency. One of the key milestones was the approval of Bitcoin spot ETFs by the US Securities and Exchange Commission. In April 2024, Bitcoin also experienced a halving event, which is typically seen as a positive development for the digital asset. This year, the cryptocurrency is up 57%, and analysts remain optimistic about its future. However, they highlight four key factors that could influence Bitcoin's trajectory, both for better and for worse
