You are about to go on a rollercoaster ride of a lifetime. During the next several months lives will be changed by Bitcoin. The adrenaline will be unlike anything you have experienced before. Bitcoin’s price will go up… A LOT, but it will be a bumpy road to get there.
The only question is if you have what it takes to HODL until Bitcoin finally goes parabolic.
This week news about Fidelity came out that has put Bitcoiners into a frenzy. Fidelity is one of the largest money managers and a company that recently had their ETF approved in the US.
It came out that their “All-In-One Conservative ETF” offering has a 1% allocation to Bitcoin.
If you are new to the investing world, a 1% allocation may seem like a very trivial amount. Nothing to be excited about. However, you couldn’t be further from the truth.
In Bitcoin circles, it has long been theorized that once the BTC ETF was approved if money managers would just make a 1% allocation to Bitcoin. This is enough of a catalyst to send the price of Bitcoin significantly over $100k.
These companies are managing trillions and trillions of dollars. A 1% allocation will have a giant impact on Bitcoin’s price. This is why so many people were anticipating the Bitcoin ETF happening.
This is when things become even more interesting.
If Fidelity making a 1% allocation wasn’t bullish enough, the Bitcoin halving is rapidly approaching.
Once you have been in the cryptocurrency market for a certain length of time, you learn that the best advertising for this industry is the price going up.
Sometime in 2024, there is going to be a Bitcoin supply shock, and no one is ready for it. With the additional demand brought on by these ETFs, and the reduction of new Bitcoin created each day due to the halving. It is creating a perfect situation for Bitcoin to succeed.
The plot thickens even more from here.
2024 is a presidential election year in the United States. Bitcoin has traditionally performed incredibly well during these occasions. It doesn’t matter who you are planning on voting for. The important thing to remember is that the Democrats and Joe Biden are desperate to hang onto the White House. One of the best ways to do that is to lower interest rates and “help” financial assets appreciate in value. When people are making money, they are more likely to vote for the incumbent President.
ETFs have been approved and we are seeing unprecedented inflows into Bitcoin. The halving is soon approaching. It’s a presidential election year. And don’t forget that accounting laws in the US have changed allowing companies that hold Bitcoin to report its current price instead of its low during the quarter. A move that may seem small to many, but is vital for these companies.
Everything in 2024 is shaping up to be a very exciting year for Bitcoin. The price will be going up, but there will also be large dips a lot the way. Your chance to accumulate Bitcoin before this market goes into a state of Bull Market FOMO is quickly running out. What you do during these next few months could honestly change your financial trajectory.
Make every day count.
How about you? What are your Bitcoin price predictions for the end of 2024?
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As always, thank you for reading!