Bitcoin ETF May Not Be as Bullish As We Expect, Warns Concordium Founder
Experts debate the future of crypto: while some see a slow rise, others believe a big surge is on the horizon. Will Bitcoin lead the way?
Crypto's next big rise might be different, warns Lars Seier Christensen from Concordium. He believes that not all cryptocurrencies will increase in value like before.
Many people hope that new Bitcoin funds will boost the market. But Christensen doubts this. He says:
“Even if Bitcoin goes up, other coins might not follow.”
He thinks the focus is now on blockchain technology for businesses. This means crypto prices might not quickly shoot up but grow slowly over time.
“Businesses use crypto for blockchain work, not because they want its price to rise a lot.”
But Ben Simpson from Collective Shift disagrees. He sees signs that a Bitcoin growth phase is starting. He explained:
“When you look at certain data, it feels like a big rise is coming.”
Simpson believes Bitcoin, Ether, and gaming tokens could see big gains. He says:
“Bitcoin might be the quiet champion as more people use it.”
The crypto world has faced challenges recently. Big companies like FTX faced problems, making prices drop. But now, with no plans to increase interest rates, some experts feel positive.
Josh Gilbert from eToro Markets seems hopeful. He believes:
“When interest rates drop, more money will go into crypto.”
Many people think 2024 will be a good year for crypto, mainly because of the expected Bitcoin "halving."
But Tina Teng from CMC Markets warns it's too early to be sure. She says:
“Past big gains in crypto happened when interest rates were cut. But now, things are uncertain.”
For a clear sign of growth, Teng believes Bitcoin needs to pass a certain price point and keep climbing.
