Matrixport: Bitcoin could rise in 2024 even if spot ETFs aren’t approved
According to a report by financial services company Matrixport, even if the spot ETF is not approved, Bitcoin could still rise in 2024. Analyst Markus Thielen predicts that with increased liquidity, the Bitcoin halving event and the possibility of Donald Trump being re-elected as US president provide further catalysts.
The analyst wrote in the company's latest report that since the outbreak of the COVID-19 pandemic, the size of the US money market fund has increased from $3 trillion to $6.1 trillion. This growth means that now about $370 billion in interest is paid annually, equivalent to about $1 billion per day - this money can "easily" enter riskier investments such as stocks and cryptocurrencies. In addition, he believes that the $6.1 trillion in principal could also be used to push up asset prices.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
We know memecoins, but what are contentcoins?
Want Speed, Scale, and Security? Qubetics, Polkadot, and Flare Are the Best Cryptos to Join TodayFlare: Turning Blockchain Data Into Actionable Utili
Discover the best cryptos to join today with updated insights on Qubetics, Polkadot, and Flare. Compare presale stats, utility, token price, and community growth.Qubetics: Redefining Web3 Utility with Power and PrivacyPolkadot: Modular Strength with a Battle-Tested NetworkFinal Thoughts: Should You Back the Next Web3 Power Move?
XRP price consolidates and maintains expectations of growth towards US$ 5
Ethereum Resurrected? ETH Reacts Strongly and Analysts Point to Possible Path to $10.000
Trending news
MoreCrypto prices
More
