Nearly two months ago I wrote an article sharing my crypto predictions for the 2nd half of 2023. In the crypto market development and news happens at a lightning pace. Two months in crypto is similar to a year in other industries. The biggest event during that span was BlackRock filing for a spot Bitcoin ETF. It changed everything. It has already caused a domino effect of other large investment fund companies such as Fidelity and WisdomTree to file Bitcoin ETFs as well.

Now that the biggest players have come to Bitcoin it appears that the SEC will no longer be able to deny a spot Bitcoin ETF. All of a sudden everything that we thought was going to happen throughout the next year has changed. One thing is for certain; it is going to be glorious to watch.

While there are spot Bitcoin ETFs in other countries, having one approved in the US has long alluded us. It has long been thought of as the catalyst that will send Bitcoin’s price over $100k, but also officially make it a “legitimate” asset.

There is no denying that Bitcoin has had a rough couple of years since it set its previous all-time high at $69k. Living through countless insolvencies in the crypto market, and the devastating FTX fraud that some thought the crypto market would never be able to recover from. However, somehow Bitcoin was able to persevere through all of that FUD and stay at a higher price than expected.

With the monumental BlackRock ETF news the entire mood in the Bitcoin market has completely changed. The price has reflected this by going from $25k up to $31k.

Zooming out it appears that everything is lining up fantastically for Bitcoin. The banking crisis began to teach people in the West the real value of Bitcoin. Then came the news of BlackRock’s ETF application, and it looking more and more likely that it will be approved. 

The next year could be unlike anything we have ever experienced in this market.

Not only will BlackRock’s ETF be approved, but the whole lot of applications will be approved. ETF filings from BlackRock, Fidelity, WisdomTree, ARK, Grayscale, and the list goes on. This set of events alone could potentially be all the fuel we need for Bitcoin’s price to reach $100k.

But there is still a sleeping giant on the horizon.

Most people have had their attention focused only on what is happening currently. The FED interest rates, inflation, and now the Bitcoin ETFs. However, the next Bitcoin halving will occur next April/May. 

In combination of the Bitcoin ETFs finally being approved, the FED potentially beginning to cut interest rates and the next Bitcoin halving. IT could lead to a period of FOMO in the market that we have never seen before. Perhaps this could be the largest bull run of them all.

How about you? What’s your prediction for the next year in Bitcoin?

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