Bitcoin (BTC-USD) has attained its highest value in two years, surpassing the $45,000 mark for the first time since April 2022. This surge is driven by the widespread expectation of the U.S. granting approval for a spot Bitcoin ETF.
After a prolonged wait, the U.S. Securities and Exchange Commission (SEC) is poised to give the green light to a Bitcoin ETF, addressing concerns related to volatility and potential market manipulation.
There are 2 factors that could drive a super bullish in 2024:
(1) A Bitcoin ETF is expected to be approved in the US (99% likelihood).
(2) Bitcoin halving is scheduled for 2024 (100% certainty).
Over the past year, Bitcoin has experienced a noteworthy 175% surge, outperforming both gold and global stocks. Despite this remarkable performance, it has not yet reached its 2021 peak of $69,000.
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