Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»TRADING NEWS»What a $670 Billion Asset Manager Predicts for Bitcoin in 2024
TRADING NEWS

What a $670 Billion Asset Manager Predicts for Bitcoin in 2024

By Crypto FlexsJanuary 6, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
What a 0 Billion Asset Manager Predicts for Bitcoin in 2024
Share
Facebook Twitter LinkedIn Pinterest Email

There is great interest in the Bitcoin price trajectory in 2024. This is especially true considering the possibility of approval of a spot Bitcoin ETF (Exchange Traded Fund).

Some analysts are predicting a landmark year for Bitcoin, with the potential for it to hit new all-time highs.

AllianceBernstein’s Bitcoin Price Prediction

Optimism about Bitcoin’s performance in 2024 stems from a confluence of factors. Bitcoin in particular surged more than 150% in 2023, and had an impressive rally reaching $45,913 in early 2024. This is the highest since April 2022.

Despite this price surge, Bitcoin remains more than 30% below its all-time high of around $68,990 set in 2021.

Bitcoin price performance. Source: TradingView

Analysts at AllianceBernstein, a global asset management firm with $669 billion in assets under management, highlighted several key drivers for Bitcoin’s expected rise. The first is the potential approval of a spot Bitcoin ETF, a development the cryptocurrency community has been eagerly awaiting.

The U.S. Securities and Exchange Commission (SEC) is expected to decide on applications from high-profile companies such as ARK Investments by January 10. Other asset managers such as BlackRock and Fidelity are likely to repeat this approval for similar products, which could herald a new era. Institutional investment in Bitcoin increased, pushing the price to $80,000.

Gautam Chhugani and Mahika Sapra estimate total inflows of around $15 billion in 2024. They predict that 10% of Bitcoin will be held in ETFs by 2028. As a result, significant changes have occurred in the way these cryptocurrencies are traded and stored.

“We expect 2024 to be a landmark inflection point for cryptocurrency. Building Bitcoin ETF flows may be gradual, but applicants will fight hard to gain an upper hand in this massive asset accumulation game, adjusting their advertising and Bitcoin branding leading to a snowball effect,” said analysts at AllianceBernstein.

Read more: How to Prepare for a Bitcoin ETF: A Step-by-Step Approach

Another important event coming up soon is the Bitcoin halving, which is expected to take place in April 2024. Historically, these halvings, which reduce the rewards for BTC mining, have led to significant price increases in the following months. AllianceBernstein predicts that this pattern will repeat itself, further accelerating Bitcoin’s rise.

Bitcoin Halving Price Performance
Bitcoin halving price performance. Source: Glassnode

Likewise, Robert Kiyosaki, author of ‘Rich Dad, Poor Dad’, also emphasized the importance of the upcoming Bitcoin halving. He urged investors to pay attention to this important event.

“If you want to be rich, you must have a rich friend, or at least a friend who also wants to be rich. Bitcoin halving is fast approaching. Please pay attention to Bitcoin ​​halving, gold and silver in January, February and March. “Please choose your friends carefully,” Kiyosaki emphasized.

Other cryptocurrencies also look promising

The broader cryptocurrency market also shows promise. AllianceBernstein expects an Ethereum ETF to be approved by June 2024. Therefore, Ethereum could potentially become the only cryptocurrency that has a direct investment exchange traded fund.

James Seyffart, ETF analyst at Bloomberg, explained that these expectations are based on the SEC’s decision to allow Ethereum ETF futures last year. This was a measure to indirectly classify Ethereum as a commodity. He emphasized that the SEC did not object to Ethereum’s classification when it went through the ETF registration process with the Commodity Futures Trading Commission (CFTC).

“CFTC is blatantly calling Ethereum a commodity. They don’t call them securities. (…) SEC approved Ethereum futures ETF. Therefore, Gary Gensler will not explicitly state whether Ethereum is a security or a commodity. But in their actions, by endorsing the Ethereum futures ETF, they are implicitly accepting Ethereum futures as commodity futures,” Seyffart said.

This optimistic outlook for Bitcoin, Ethereum and the broader cryptocurrency market has been echoed by a variety of industry experts and thought leaders.

For example, Lindsey Li, an investor at Bessemer Venture Partners, highlighted the role of large language models (LLMs) in decentralized education and AI-generated content ownership verification in driving the cryptocurrency market. Meanwhile, Denelle Dixon, CEO of the Stellar Development Foundation, predicted that tokenization and blockchain-based transactions will surge, improving global financial inclusion.

Read more: 7 cryptocurrencies you need in your portfolio before the next bull market

Paul Brody, Global Blockchain Leader at EY, remains optimistic about the growth of the cryptocurrency ecosystem due to the implementation of the European Union’s Market for Cryptocurrency Assets Regulations (MiCA). Meanwhile, Seth Ginns, managing partner at CoinFund, believes a surge in altcoins could overwhelm Bitcoin.

disclaimer

In compliance with Trust Project guidelines, BeInCrypto is committed to unbiased and transparent reporting. These news articles aim to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to check the facts and consult with experts. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025

Why is the ecosystem of the SEI network boom in the second quarter?

June 6, 2025

Why is the ecosystem of the SEI network boom in the second quarter?

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

Is the Solana -SOL route that is involved in whale movements still alive for $ 160?

June 7, 2025

Gala Games unveils a new byte pack in VEXI village.

June 7, 2025

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025

ARCA is disappointed with the IPO allocation and dumps the circle sharing.

June 7, 2025

Eigenlayer starts the redistribution function in testnets

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Vortex uses NVIDIA Jetson to innovate medical imaging with CT-similar ultrasound.

June 6, 2025

2025 Best Free Cloud Mining

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Analyst Michaël Van de Poppe says Bitcoin is getting higher.

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Is the Solana -SOL route that is involved in whale movements still alive for $ 160?

June 7, 2025

Gala Games unveils a new byte pack in VEXI village.

June 7, 2025

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025
Most Popular

Bitcoin’s ‘Coinbase Premium’ is back as BTC price heads for its best September ever.

September 27, 2024

Did you buy dip? 3 signs the $90,000 Bitcoin price is at a local low

November 28, 2024

Exploring the intersection of poetry and AI with Sasha Stiles

November 30, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.