Although the price declined following the approval of the Spot Bitcoin ETF, analysts remain optimistic about the price of BTC.
At this point, Matthew Sigel, head of digital asset research at investment giant VanEck, said he will continue his growth in Bitcoin and announced his predictions for 2024.
Speaking to Laura Shin recently, Matthew Sigel said that BTC could surpass its all-time high of $69,044 in 2024.
“2024 looks like a solid year and will be the year of BTC.
We think Bitcoin will reach its all-time high after the elections, i.e. in the 4th quarter of 2024.
A record number of world citizens will vote in this year’s elections; This rate is almost above 50%.
At this point, I believe the upcoming contentious elections could provide an opportunity for change and pro-Bitcoin policies. “
He further said that Bitcoin’s gains in late 2023 depend on various factors and said the rally is tied to dollar weakness as much as spot approvals of Bitcoin ETFs.
*This is not investment advice.