Cryptocurrency

Bitcoin ETF

Bitcoin

Bull Market

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/2024-a-promising-year-for-the-cryptocurrency-market/" data-wpel-link="internal">2024: A Promising Year for the Cryptocurrency Market</a> 
2024 looks promising for the cryptocurrency market as it anticipates many significant developments. Among the upcoming events are the increased interest of institutional investors and the broader adoption of cryptocurrencies, marking a significant milestone for a market that emerged just 14 years ago. We have compiled developments surrounding the growth of the <a href="https://en.coin-turk.com/bitcoins-golden-cycle-expert-analysts-positive-forecast/" data-wpel-link="internal">Bitcoin</a> ecosystem, including the upcoming Bitcoin block reward halving, the spot exchange-traded fund (ETF), and the potential bull market. 
<h2 style="text-align: justify" id="strong-spot-bitcoin-etf-approval-strong">Spot Bitcoin ETF Approval</h2> 
The US Securities and Exchange Commission (SEC) is expected to approve the country’s first spot Bitcoin ETF by January 10, 2024, following a series of meetings with applicants over the past few months. Leading asset management firms competing to offer ETFs include BlackRock, Ark Invest/21Shares, Invesco/Galaxy Digital, Franklin Templeton, Grayscale Investments, VanEck, WisdomTree, Valkyrie, Fidelity Investments, and Bitwise. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-296157" src="https://coin-turk.com/wp-content/uploads/2023/12/Bitcoin-Altcoin-2024.jpeg" alt="" width="1280" height="720"> 
Anonymous sources indicate that the SEC has asked competing companies to make final adjustments to their applications before the new year and that those who update their applications have a 90% chance of getting the green light. 
However, it should be noted that the US regulator has previously postponed or rejected all such investment product applications, claiming they were susceptible to <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">money</a> laundering or market manipulation. This time, however, expectations have been raised, especially with BlackRock entering the scene and having an almost flawless ETF approval rate with the SEC. 
<h2 style="text-align: justify" id="strong-bitcoin-s-block-reward-halving-strong">Bitcoin’s Block Reward Halving</h2> 
The upcoming Bitcoin block reward halving is another bullish trigger expected to occur in 2024. The halving reduces the block reward given to miners for each block they mine by 50%, thus decreasing the rate of new <a href="https://en.coin-turk.com/bitcoin-miners-increase-strategic-btc-sales-as-price-surges/" data-wpel-link="internal">BTC</a> produced daily. After the completion of the fourth block reward halving in Bitcoin’s history, the reward amount for each mined block will drop from 6.25 BTC to 3.125 BTC. 
The block reward halving occurs every four years (or every 210,000 blocks) and the next one is expected to take place in April 2024. As the date approaches, excitement in the cryptocurrency world increases, as the block reward halving is considered one of the most significant events in the industry. Although Bitcoin miners will begin to earn less for their operations, the returns from the halving extend far beyond this. 
<h2 style="text-align: justify" id="strong-bitcoin-bull-market-strong">Bitcoin Bull Market</h2> 
Historically, past block reward halvings have triggered bull runs in Bitcoin and propelled the cryptocurrency market to new heights. While past data is not a guarantee of future price movements, it is worth mentioning that following the third block reward halving in May 2020, BTC’s price soared to $69,000. The possibility of history repeating itself is quite high. 
In addition to the rally expected after the block reward halving, BTC is also close to an uptrend due to expectations related to the potential approval of spot Bitcoin ETFs. Indeed, the price of the largest cryptocurrency has risen over 150% since the beginning of the year, currently trading above $42,000. Once ETFs are approved and the block reward halving takes place, the future price trajectory of Bitcoin will become clearer. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/2024-a-promising-year-for-the-cryptocurrency-market/" data-wpel-link="internal">2024: A Promising Year for the Cryptocurrency Market</a></h5>

2024: A Promising Year for the Cryptocurrency Market

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