Bitcoin’s Current Rally Is Just Beginning, Benzinga Identifies 3 Major Upcoming Catalysts

In the ever-changing landscape of digital assets, Bitcoin (CRYPTO: BTC) remains a subject of intense discussion and speculation, particularly regarding the catalysts that could propel its value to unprecedented heights.

Benzinga has identified three potential bullish catalysts that could send Bitcoin soaring.

Apex crypto outlook to be part of in-depth conversation at Benzinga The future of digital assets conference on November 14, where investors and experts will converge to dissect the future trajectories of cryptocurrencies.

Spot approvals of Bitcoin ETFs

The first catalyst focuses on the potential approval of spot Bitcoin exchange-traded funds (ETFs).

A spot ETF, unlike its futures counterparts, is based on the current price of Bitcoin and allows investors direct exposure to cryptocurrency.

The United States Securities and Exchange Commission (SEC) has historically been hesitant to approve such investment products due to concerns about the market. manipulation and volatility.

However, the winds could change direction.

Approval would not only legitimize Bitcoin as an investable asset to a broader segment of the public, but could also trigger a substantial inflow of assets. institutional money in the cryptocurrency market.

Such an event could constitute a watershed moment, positioning Bitcoin as a major financial asset and catalyzing a significant rise in prices.

Bitcoin halved

The second potential catalyst is the Bitcoin halving.

Approximately every four years, the reward for mining new blocks is cut in half, meaning miners receive 50% less Bitcoin. to verify transactions.

This process effectively reduces the rate at which new Bitcoins are created and is designed to mimic the appreciation due to scarcity seen in precious metals like gold.

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The next halving, expected in 2024, could decrease supply and if demand remains strong, this scarcity could drive Bitcoin prices higher.

Historical precedent suggests a sharp rise in prices following past halving events, making this a closely watched timeline for investors.

The perceived undervaluation of Bitcoin

Finally, the idea that Bitcoin is currently undervalued could be a problem. catalyst in its own right.

Despite its volatility, its supporters claim that when comparing Bitcoin’s market capitalization to that of gold or world wealth, Bitcoin appears undervalued.

As it becomes increasingly accepted in the financial world as “digital gold” and a hedge against inflation, its the valuation could rise.

The adoption of Bitcoin as legal tender in countries, its integration into payment systems and the growing interest of institutional investors are all factors that could lead to reassessing the true value of Bitcoin and adjusting its price accordingly.

As these catalysts loom on the horizon, their potential convergence could signal a paradigm shift in the valuation of Bitcoin.

Benzinga to come The future of digital assets The conference promises to provide fertile ground for discussions on these topics, providing insight into how these catalysts could shape the trajectory of Bitcoin’s journey.

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