On the first day of 2024, Bitcoin surpassed the psychologically significant $45,000 barrier. At the time of posting, the top cryptocurrency had increased by an astounding 5.7% in only a single day. During the same period, there were increases of more than 3% for Dogecoin and Ethereum as well.

King Crypto’s action is noteworthy since it is the first time that BTC has over $45,000 since April 2022.

As at the end of 2023, the rise was driven by the excitement surrounding the announcement of spot Bitcoin ETFs. Asset managers competing to have their proposals for the ETFs accepted might receive notification on Tuesday or Wednesday, with a potential debut date of January 10. This was first reported by Reuters during the New Year’s weekend.

According to the article, there are a total of 14 asset managers that are looking for the SEC clearance.

Note that there are presently a lot of audacious forecasts on Bitcoin’s future trajectory circulating throughout the cryptocurrency community. By 2024, according to financial expert Mark Mobius, the biggest cryptocurrency would have reached a value of $60,000. Even more ambitiously, Antoni Trenchev predicts that Bitcoin will reach $100,000 this year.

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As of the time of posting, stock futures were unchanged, but cryptocurrency markets were unquestionably doing well at the start of 2024. In an interview with CNBC, Vital Knowledge founder Adam Crisafulli stated that the markets needed a one to three percent decline to stabilize. While pointing out that the rally may go on, he remarked that such a move would be “very healthy”.

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