The cryptocurrency market is eagerly anticipating a potential surge in the leading digital asset. On Monday, December 4, the flagship cryptocurrency’s price hit a yearly high of $41,000. Many crypto investors hope for further growth of Bitcoin, expected after its halving. According to Pascal Gauthier, the Chairman and CEO of Ledger, 2023 was a year of preparation for the growth ahead for BTC. He believes that the sentiment for 2024 and 2025 is “very encouraging.” The analyst contemplates the possibility of the first cryptocurrency reaching $100,000 by 2024. Notably, the previous record for Bitcoin was set in November 2021. Since then, the crypto industry has faced numerous challenges, including the FTX exchange crash and the resignation of Binance CEO Changpeng Zhao. Many analysts and market participants believe that these events mark the end of a series of difficulties for the digital asset market. Crypto enthusiasts believe it is time for interested market participants and professionals capable of utilizing innovative technologies in the industry. According to David Marcus, the CEO of Lightspark, investors can now focus on significant events in the crypto sphere, primarily the potential launch of a Bitcoin-based ETF. The second significant event of 2024 will be the Bitcoin halving scheduled for May next year. Many market participants are bullish on Bitcoin, expecting a surge in the BTC price after the halving. However, in the case of positive news about ETFs, the surge in BTC's value may begin sooner. Currently, the first cryptocurrency is consolidating near $38,000, which is considered an optimistic scenario. According to analysts, once this threshold is surpassed, Bitcoin could rise to $48,000. A potential roadblock for Bitcoin's growth could be a complete refusal to launch ETFs. However, there is no news that the ETF initiative will be denied. Earlier, Matrixport experts noted that in the lead-up to the halving, the price of the main cryptocurrency could soar to $125,000 by the end of 2024.
