Gemini

Reserve

Carbon

<p class="is-style-lead">Several analysts suggest that Bitcoin’s value could skyrocket to nearly $160,000 by 2024.</p> 
<p>This surge is anticipated due to the Bitcoin halving event and the growing excitement around potential spot ETFs in the United States.&nbsp;</p> 
<p>The Bitcoin halving will effectively reduce the availability of new BTC on the market, and it has been a historical precursor to significant price rallies. The next halving is set for April 2024, and market traders seem to be factoring in its potential impact on the cryptocurrency’s value.</p> 
<p>CryptoQuant, an on-chain analytics provider, recently told <a href="https://www.coindesk.com/markets/2023/12/20/bitcoin-could-reach-160k-in-2024-on-the-back-of-halving-spot-etf-hype-analysts/?utm_term=organic&amp;utm_campaign=coindesk_main&amp;utm_source=twitter&amp;utm_content=editorial&amp;utm_medium=social" target="_blank" rel="noopener">CoinDesk</a> that Bitcoin is poised for a massive rally next year. According to their analysis, <a href="https://crypto.news/blackrock-meets-with-sec-for-24th-time-to-discuss-bitcoin-etf/">ETF</a> approval and the impact of halving could push the leading token’s price to a minimum of $50,000.</p> 
<p> You might also like: <a href="https://crypto.news/michael-saylor-spot-bitcoin-etfs-a-game-changer/"> Michael Saylor: Spot Bitcoin ETFs a game-changer </a> </p> 
<h2 class="wp-block-heading" id="bitcoin-etf-hype-is-heating-up">Bitcoin ETF hype is heating up</h2> 
<p>Discussions are ongoing between several major traditional financial institutions and the SEC regarding ETFs, as many believe several applications will likely be <a href="https://crypto.news/k33-research-spot-bitcoin-etf-approvals-expected-in-january/">approved</a> together in January. Yesterday, another new application was filed by <a href="https://www.gemini.com/blog/gemini-to-custody-7rcc-bitcoin-and-carbon-credit-futures-etf" target="_blank" rel="noopener">7RCC Global</a>, which wants to launch the first-ever environment-friendly Bitcoin ETF.&nbsp;</p> 
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   <p lang="en" dir="ltr">Interesting piece this morning from <a href="https://twitter.com/VildanaHajric?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@VildanaHajric</a> on Miami-based 7RCC's filing yesterday for a spot Bitcoin ETF that will will be ~80% spot <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#bitcoin</a> and ~20% Carbon credits. <a href="https://t.co/EkiHLP1Fe6" target="_blank">https://t.co/EkiHLP1Fe6</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1737187661842915687?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 19, 2023</a>
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<p>7RCC Global Inc. will primarily invest in Bitcoin while allocating a significant portion of its portfolio to carbon-credit futures. The ETF, if approved, will trade under the ticker BTCK, and crypto exchange Gemini will be its custodian.&nbsp;</p> 
<p>Furthermore, there is an expectation that the U.S. Federal Reserve might reduce interest rates in 2024 in response to a decline in inflation rates. Historically, lower interest rates have spurred investments in higher-risk assets, including technology stocks and cryptocurrencies. However, there’s a cautionary note: Bitcoin prices could experience short-term volatility as recent investors grapple with substantial unrealized gains.</p> 
<p> Read more: <a href="https://crypto.news/coinmarketcap-3-altcoins-lead-with-over-20-gains/"> CoinMarketCap: 3 altcoins lead with over 20% gains </a> </p> 
<p class="is-style-lead">&nbsp;</p>

Analysts predict Bitcoin surge to $160k by 2024

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