Bitcoin, cryptocurrencies relates stocks like Coinbase, Robinhood markets, Nu Holdings Ltd, Microstrategy could triple in value in 2024 driven by the likely rising Bitcoin price in 2024, according to Wolfteam Ltd.'s house view.
The main factors for the rising Bitcoin price, according to Wolfteam Ltd.'s estimates in 2024 are:
1) The Federal Reserve implication in the December 2023 meeting that the central bank of the United States of America will strive to lower interest rates levels in the US. Lower interest rates levels will make more funds flow into lending to and venture capital investing in Bitcoin cryptocurrencies related businesses.
2) The introduction of a BitcoinETF will provide for a new instrument to invest in cryptocurrencies and thus increase the money flowing into Bitcoin by increasing the participation in cryptocurrencies investing of institutional investors like asset managers, hedge funds and even endowments and pension funds.
3) General improving risk sentiment will provide for more news coverage of Bitcoin, cryptocurrencies, which will increase investments into Bitcoin, cryptocurrencies and thus raise Bitcoin, other cryptocurrencies' prices in 2024.
Bitcoin's price could rise above 102 000 USD in 2024, according to Wolfteam Ltd.'s projections and estimates.
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