Three important things to watch for Bitcoin price in Q4 2023

TL; DR

BTC's year-end price may be affected by macroeconomic conditions and regulatory changes, particularly in the US, where Bitcoin ETFs are accepted. Market sentiment, endorsements from influential people, and technical analysis can drive short-term BTC rallies. In the coming years, BTC will reach $120,000 to $150,000, with the BTC halving event in 2024 being considered encouraging.

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BTC's Catalysts at the end of the year

There are various factors that influence the price of major cryptocurrency in the last quarter of the year. We'll highlight those lines below and provide some of the latest predictions from experts and analysts.

One of the most important factors that can play a role is the macroeconomic environment. High inflation, economic crises, and rising interest rates have affected the price of BTC. That said, a general improvement in the global economy or the Fed's anti-inflationary policy could lead to a Bitcoin rally.

The central bank of the United States It has two more FOMC meetings until the end of 2023, when it will decide when it is time to cut interest rates.

Regulatory developments are also significant factors. Most governments around the world have so far failed to impose a comprehensive regulatory framework on cryptocurrencies. The US is undoubtedly one of the most controversial SEC actions.

The approval of a Bitcoin ETF somewhere could change trends and indicate that the industry has huge growth potential in the world's largest economy. Note that several financial giants, including BlackRock, Invesco and Fidelity, are interested in launching such a product in the US.

Last but not least, market sentiment (news, social media trends and public perception) can trigger a short-term BTC rally. For example, an endorsement from an influential person like Elon Musk can push a property's valuation northward in minutes.

Technical analysis and psychological levels, adoption rates and network developments are additional elements that can benefit BTC bulls.

Some recent BTC predictions

Countless experts and celebrities have envisioned a bright future for the major cryptocurrency as it recently witnessed an all-time high in trading volume.

Robert Kiasaki – the American investor, motivational speaker and author of the book “Rich Dad, Poor Dad” – recently predicted that BTC could rise to $120,000 by 2024 as the US dollar “dies”.

Adam back (Blockstream CEO) Tom Lee (Managing Partner at Fundstrat) and Anthony Scaramucci (former White House official) issued similar predictions.

Another important factor that could trigger a bull run is the planned BTC halving in the spring of next year. Pantera Capital analysts think the property could explode to $150,000 by 2024 as a result of the event.