Will Raleigh and its sisters continue in the new year?

 Investing institutions expect the price of the largest cryptocurrency to reach $100,000 in 2024
Stay tuned for the Securities Commission’s decision, expected on January 10, to determine the fate of Bitcoin exchange-traded funds

 Standard Chartered Bank expects the price of Bitcoin to reach more than $100,000 by the end of 2024. Many financial institutions agree with these rosy expectations, based on a number of anticipated events that will positively affect the performance of the largest cryptocurrency and its siblings.
In addition to the Federal Reserve’s decisions and the path of inflation, the United States is likely to give the green light to Bitcoin ETFs next January. It is also expected that the upcoming halving of "Bitcoin" - that is, reducing the rate of issuance of new currencies - will limit the growth of its supply, which may provide a supportive dose for prices.

After Bitcoin and the rest of the cryptocurrencies bid farewell to 2022 with a significant decline, the beginning of the current year was not promising either, with a breakthrough in terms of gains looming on the horizon, but cryptocurrencies, which are characterized as volatile assets, surprised the markets, as the largest of them - Bitcoin - is preparing to end... year with a jump of more than 150%, while Ethereum rose by about 90%.
With these gains, cryptocurrencies have achieved returns that exceed other asset classes, such as the “Nasdaq” index, which rose by more than 40%, or gold, which gained more than 10% this year...but there are still doubts about whether the “rally” It will continue in the new year.
Mark Connors, head of research at 3iQ Corp, believes that the price of Bitcoin is qualified to target the level of $100,000 by the end of 2024, and that it will reach higher levels in 2025 to record a stronger rise, based on his company’s research, which indicates that the demand for the token has been reached. The largest is $3.5 billion in Canada during the current year, with this number reaching $30-50 billion in the next few years.
The market is waiting for the green light
Connors hinted that although the market has already priced in approval of Bitcoin ETFs, once large institutional players enter the market, there will be a very significant price boom.
BlackRock and Valkyrie Investments have appointed intermediaries to invest cash in their proposed Bitcoin spot funds if they obtain US regulatory approval, an important step in the competition for the first ETF to track... Base cryptocurrency.

BlackRock and Valkyrie appoint brokers to manage Bitcoin ETFs
On the other hand, Connors said that there are a number of determinants that will shape the fate of “Bitcoin” during the current year, the most important of which is the “regulatory aspect,” which the Securities Commission will determine on January 10 regarding exchange-traded funds. It is likely that the market will eventually get the green light, which will mitigate any expected fluctuations that may result from any other regulatory challenges.

Regarding the extent to which Bitcoin is considered a store of value, Connors said that Bitcoin has “already proven to be a safe haven,” citing the agreement of four major American banks to adopt the cryptocurrency as a safe haven. Pointing out that he notes that investors are returning to these assets in a very different way, which was directly reflected in the current inverse relationship between Bitcoin and Ethereum, and on the other hand, stocks for the first time since the pandemic.