**Matrixport Predicts The Future of Bitcoin and Crypto in 2024**
Matrixport, a prominent figure in the digital asset space, has released a groundbreaking research report titled “2024 Unveiled: Six Micro and Macro Events That Will Shape Bitcoin.” This report, dated Thursday, November 9, 2023, sheds light on pivotal events that are projected to shape the crypto landscape in 2024. The report, which can be accessed [here](https://www.matrixport.com/institutions/research/matrix-on-target/758), highlights a mix of micro and macro events that are anticipated to make a positive impact on the industry, with a particular focus on Bitcoin.
**Top 6 Predictions For Bitcoin And Crypto**
The report underscores the expectation of the US Securities and Exchange Commission (SEC) to approve a Bitcoin ETF. According to Matrixport, “By January 2024, we anticipate the SEC to approve a Bitcoin ETF, with trading expected to commence by February or March.” This event is seen as a massive catalyst for increased institutional investment in Bitcoin.
Additionally, Matrixport points to the potential listing of stablecoin issuer Circle on the stock market by April 2024. Circle, the company behind the stablecoin USDC, is contemplating an Initial Public Offering (IPO) in early 2024. The company is engaging with consultants to lay the groundwork for this potential public listing, though it remains uncertain whether the IPO will ultimately materialize. More information can be found in this [report](https://bitcoinist.com/circle-considers-2024-ipo-support-blackrock/).
The third prediction of Matrixport concerns FTX. The company forecasts that the exchange could be operational by May or June 2024, making a strong comeback in the crypto exchange landscape.
The report mentions the interplay of these events with the Bitcoin [halving cycle](https://www.newsbtc.com/news/bitcoin/historical-bitcoin-halving-cycles/), suggesting a synergistic effect that could provide momentum into the following year.
**Ethereum And Macro Predictions**
Matrixport also sees Ethereum’s EIP-4844 upgrade, scheduled for Q1 2024, as a less significant, yet noteworthy event. Although it may be challenging to see this as a significant upside catalyst, the upgrade is expected to take place in Q1 2024.
Furthermore, the potential US Federal Reserve interest rate cut by mid-2024 is mentioned as a macro event that could have a significant impact on the crypto market.
The report concludes with an analysis of the short-term Bitcoin price movement, noting that “Next week’s US CPI data could trigger another rally in Bitcoin if inflation declines again.” The report forecasts Bitcoin attempting to break out, with a potential to reach up to $45,000 by the end of 2023, catalyzed by a ‘Santa Claus rally’. At press time, BTC traded at $36,657.
Matrixport’s report offers a comprehensive look into the future of Bitcoin and crypto for 2024, highlighting key events and their potential impact on the industry. With its insightful predictions and analysis, it provides valuable information for both institutional and individual investors alike. This report sets the stage for an eventful and transformative year in the crypto world.
*Featured image from iStock, chart from TradingView.com*
❗Follow us on Twitter to get all the latest crypto news as soon as they're out! 🚀