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Popular crypto YouTuber Lark Davis has taken to the X/Twitter social media platform to suggest 10 reasons why he believes that the cryptocurrency market will skyrocket in the upcoming year of 2024.
Among those are, of course, potential Bitcoin spot ETF approval and the fourth Bitcoin halvening event.
Key reasons for crypto surge in 2024
The first reason mentioned by Davis was that stock markets in various countries are reaching all-time highs now - in particular in the U.S., they include the Nasdaq 100 and Dow Jones. Stock markets are risk-on at the moment, Davis stressed, and people are making a lot of money on them, which they will likely want to buy crypto with in the next year, driving prices up.
The second reason was the much expected Bitcoin ETF approval in Q1 next year. Per the YouTuber, the SEC may reject it in January, creating a price dip, and then it is likely to approve ETFs in March.
The third one is the potential, or Davis believes so, victory of Coinbase over the SEC in court and the judge likely driving the agency to finally come up with cryptocurrency regulations for companies and individuals in the United States. Besides, this would be the final loss for the SEC in court; earlier this year, it saw Ripple Labs score a major victory against it in court and was also beaten by Grayscale over its Bitcoin spot ETF application.
Some more major reasons for potential crypto spike
Bitcoin halvening, the fourth reason, is to take place in late April next year. Davis mentioned that retail investors are currently accumulating all the Bitcoin that miners are producing, along with BalckRock and other Wall Street companies that continue to buy Bitcoin while they are waiting for their BTC ETF approvals to take place next year.
Among the other reasons, Davis highlighted that he expects a great number of games based on crypto and Web3 to start emerging next year, with a lot of funds pouring into them. He believes that crypto games are likely to attract a lot of “normies” into cryptocurrency and blockchain. Also, the Federal Reserve hinted that it is considering making interest rate cuts starting next year.
Tomiwabold Olajide
Arman Shirinyan
