While the price has decreased following the Spot Bitcoin ETF approval, analysts remain optimistic about the BTC price.
At this point, Matthew Sigel, head of digital assets research at investment giant VanEck, stated that he will continue his rise in Bitcoin and announced his 2024 forecast.
Speaking to Laura Shin recently, Matthew Sigel claimed that BTC could rise above its all-time high of $69,044 in 2024.
“2024 looks like a solid year and will be the year of BTC.
We think that Bitcoin will reach its all-time high after the elections, that is, in the 4th quarter of 2024.
A record number of world citizens are voting in this year's elections; This rate is almost more than 50%.
At this point, I believe the upcoming contentious election could provide an opportunity for change and pro-Bitcoin policies. “
He also stated that Bitcoin's gains at the end of 2023 depend on various factors, and said that the rally is related to the weak dollar as much as it is related to spot Bitcoin ETF approvals.
*This is not investment advice.