Cryptocurrency

IOTA

Bitcoin

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 <p class="paragraph">The long-anticipated spot-Bitcoin ETF approval hasn’t brought the result investors hoped for, as Bitcoin (BTC) lost its footing and recently fell below the $40,000 threshold. Now, attention has shifted to the Bitcoin <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>, with Ethereum (ETH) potentially being the primary beneficiary of this event.</p>
 <p class="paragraph">Upon the completion of mining 210,000 blocks, which occurs approximately every four years, the block reward allocated to Bitcoin miners for transaction processing undergoes a <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>. This event is named <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> due to its impact on reducing the rate at which new BTCs are introduced into circulation by half.</p>
 <p class="paragraph">This event aims to decrease the circulation of new coins and thus increase the price of flagship crypto.</p>
 <h2 class="wp-block-heading" id="h-ethereum-to-outpace-bitcoin-according-to-cathie-wood">Ethereum to outpace Bitcoin, according to Cathie Wood</h2>
 <p class="paragraph">Cathie Wood, the Chief Executive Officer of ARK Invest, is recognized for her optimistic outlook on cryptocurrencies, with a notable emphasis on Bitcoin and Ethereum.</p>
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 <p class="paragraph">Wood’s attention is particularly compelling in the context of Ethereum. She acknowledges Ethereum’s growing significance in decentralized finance (DeFi) and non-fungible tokens (NFTs), recognizing its capacity to address the unmet demand for yield in financial markets. This perspective is accentuated by the current state of fixed-income markets, where the pursuit of yield has reached unprecedented levels, she said in an interview on December 8.</p>
 <p class="paragraph">Regarding long-term projections, ARK Invest’s “Big Ideas” presentations offer ambitious forecasts for Bitcoin and Ethereum. Their 2023 presentation outlined three scenarios for Bitcoin, spanning from a bear case of $258,000 to a bull case of $1.48 million by 2030. As for Ethereum, their 2022 forecast envisions a market cap that may surpass $20 trillion by 2032, potentially resulting in a valuation of each ETH at over $166,000.</p>
 <h2 class="wp-block-heading" id="h-financial-institutions-are-bullish-on-eth-as-well">Financial institutions are bullish on ETH as well</h2>
 <p class="paragraph">A report from VanEck, an investment management firm, presents a positive outlook for Ethereum’s future. The report delineates three potential scenarios for Ethereum’s market price by 2030: a bullish scenario, a bearish scenario, and a base scenario.</p>
 <p class="paragraph">In the event of a bullish outcome, Ethereum’s market price could surge to $51,006, marking a 31-fold increase from its current value. This optimistic scenario is underpinned by Ethereum’s perceived capacity to offer security as a service and its utilization as a store of value assets.</p>
 <h2 class="wp-block-heading" id="h-etf-approval-for-ethereum-as-a-possible-catalyst">ETF approval for Ethereum as a possible catalyst</h2>
 <p class="paragraph">The recent spot-Bitcoin ETFs endorsement by the United States Securities and Exchange Commission (SEC) marks a notable milestone in the cryptocurrency industry. This determination is considered a substantial stride towards the broader financial acknowledgment of cryptocurrencies. The SEC will decide on spot Ethereum ETF applications by May 23, 2024.</p>
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    <p lang="en" dir="ltr">The final deadline for the Spot #Ethereum ETF will be May 2024! pic.twitter.com/DOlhWLAOVB</p>— Crypto Rover (@rovercrc) January 12, 2024
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 <p class="paragraph">Numerous events could propel Ethereum’s price to new all-time highs and present investors with substantial returns on their investments, spanning from ETFs to Bitcoin <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>. Whether they will remains to be seen.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-btc-halving-predicted-to-double-gains-for-this-altcoin-tbt77856.html">https://thebittimes.com/bitcoin-btc-halving-predicted-to-double-gains-for-this-altcoin-tbt77856.html</a></p>

Bitcoin (BTC) halving predicted to double gains for this altcoin

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