Bitcoin's Path in 2024: Halving, Regulation, Accounting Changes May Shape Price and Adoption
• The approval of a spot Bitcoin ETF could broaden crypto access and lead to significant inflows. However, uncertainty remains around if/when SEC approval may come.
• The upcoming Bitcoin halving event in 2024 could amplify crypto price cycles due to current Bitcoin ownership distribution trends.
• Crypto regulation and enforcement actions defined 2023; further legislative clarity may arrive in 2024 amid rising Congressional concern.
• FASB crypto accounting rule changes could spur more corporate Bitcoin balance sheet adoption in 2024.
• An end to central bank tightening policies could provide a positive macro backdrop for crypto as a risk asset.