Expert says Buy Bitcoin before halving, Bitcoin could outperform tech stocks in 2024
Raul Pal shared his opinion on the incoming bull phase of this crypto market and claimed that Bitcoin will outperform all the tech stocks in the next year easily.
Bitcoin, the top crypto asset by market cap, currently is in the early phase of the Bitcoin bull run and it is expected that it will reach at peak in March after that, it will crash just before the Bitcoin halving event in April, which will be the just like an opportunity for people to again invest in Bitcoin.
The current trade price of Bitcoin is $37,322 & this trade price is 8.52% over the last 30 days of trade price.
In the last few days, the trade price of Bitcoin saw significant volatility because of the negative sentiments in the market because of the legal hurdles with the top Crypto exchange Binance in the US jurisdiction.
Today the trade price of Bitcoin was below $37k but now the situation is getting positive again, as the Binance vs US authorities matter has been solved.
Recently prominent Crypto analyst Raoul Pal shared his opinion on the current market sentiments and predicted that Bitcoin will outperform all the other tech stocks in 2024.
Pal said that Bitcoin will experience huge growth, as trends & indicators are showing. To predict Bitcoin’s future, Pal used the GMI Financial Conditions Index to forecast this positive trend.
Here Pal is not only the analyst who believes that the trade price will increase, other analysts also declared similar kinds of predictions.
Another analyst Vetle Lunde from K33 Research predicted the bullish sentiment in Bitcoin’s prices for the incoming year. He dragged attention toward the high interest and price premiums on the Chicago Mercantile Exchange (CME).
The prediction of the Bitcoin price is increasing rapidly by almost every crypto analyst as Bitcoin heading toward the Bitcoin halving event, expected 19 April 2024.
Some crypto experts believe that Bitcoin will crash -20-30% before Bitcoin halving, if it Bitcoin will follow its past 4 patterns of Bitcoin halving.
This year’s situation is totally different because currently a dozen of Bitcoin spot ETF applications are waiting to get regulatory approval from the United States Securities and Exchange Commission (SEC). According to ETF experts, if the SEC body approves these applications then it will cause billions of money inflow in the Bitcoin market.
Read also: IMF believes if CBDCs fail to integrate each other then people will choose Cryptocurrencies
