3 Bitcoin Things to Enjoy in 2024

The next year looks promising for the crypto industry as major events are about to take place. Among the many benefits of the upcoming events, institutional investors and the widespread adoption of crypto assets, is a significant milestone in a sector that came into existence only 14 years ago.

CryptoPotato has put together this short list because optimism can build on the Bitcoin ecosystem, with the network's upcoming halving event, spot exchange-traded fund (ETF) approvals, and a potential bull market. These Bitcoin-related events are widely anticipated by the crypto community and could open a new chapter for the sector.

Spot Bitcoin ETF approval

The United States Securities and Exchange Commission (SEC) is expected to approve the country's first-ever Bitcoin ETF between January 8 and 10 after holding a series of meetings with applicants over the past few months.

Firms competing for the products include leading traditional financial asset managers such as BlackRock, ArchInvest/21Shares, Invesco/Galaxy Digital, Franklin Templeton, Greyscale Investments, VanEick, WisdomTree, Valkyrie, Fidelity Investments and Bitwise.

Anonymous sources confirmed that the SEC has asked rival firms to submit final corrections to their filings before the new year, bolstering analysts' 90% chance of approval by January.

However, it should be noted that the US securities regulator has rejected all previous applications for such products, as they could be used for money laundering or market manipulation. This time, though, the tide seems different, especially after BlackRock's arrival on the scene and its flawless level of approval with the agency.

Half of Bitcoin

Another highly anticipated event is the upcoming Bitcoin halving in 2024. The halving is a mechanism that will reduce rewards by 50%, reducing the rate at which BTC is produced each day. When the next one is completed – the fourth in the history of Bitcoin – the production rate will decrease from 6.25 BTC to 3.125 BTC.

Half will be held every four years (210,000 blocks), with the next scheduled for April 2024. The crypto community is full of excitement as the halving is considered one of the most important events in the industry. Although Bitcoin miners are beginning to receive a few rewards for their work, the downside of halving is very high.

BTC bull market

Historically, the events of the past half have triggered BTC bull runs, pushing the crypto market to new highs. Although historical data does not guarantee future price movements, it is worth noting that BTC rose to $69,000 after the third half of May 2020. History is likely to repeat itself.

In addition to the expected post-halving rally, BTC is growing in anticipation of the potential approval of spot Bitcoin ETFs. The property has increased over 157% annually and currently hovers around $43,000. It remains to be seen how high the leading digital asset will rise once the EFAs are approved and the halving is done.