![]() The macroeconomic conditions also look favorable to risk assets including bitcoin, as investors expect the Federal Reserve to start cutting its key interest rate as early as March. ![]() and the so-called halving event, which is expected to happen in April, Rousseau noted.īitcoin halving refers to a process in which block rewards given to crypto miners are cut in half after every 210,000 blocks are mined, or about every four years. The crypto has historically seen price appreciation in the months after halvings. It is likely that bitcoin will rise above $40,000 at the beginning of 2024 and climb to a new all-time high toward the end of next year, mostly boosted by an expected approval of bitcoin exchange-traded funds in the U.S. Meanwhile, the on-chain data shows that very few long-term holders are selling their bitcoin, a bullish sign for the coin, Rousseau noted. “These are all kind of moving up,” Rousseau said. The fair value of bitcoin currently stands at around $42,000, while the 200-day moving average of the coin is about $29,000. ![]() A bull run in 2024?īitcoin has a great setup for a bull run next year, Rousseau said in a call. I caught up with Anthony Rousseau, the head of brokerage solutions at TradeStation, to talk about his outlook for bitcoin in 2024.įind me on X at to share any thoughts on crypto or this newsletter. The crypto is still down more than 45% from its peak of $68,990 in 2021. Rallied this year, with a 130% gain for the year to date, according to CoinDesk data.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |