Below are 5 major upcoming events that will affect the Crypto market. Please take note of these milestones!
1️⃣ The next FED meeting schedule is December 13
This will be the last meeting in 2023. The expected scenario is that there will be no more interest rate increases because the longer the FED keeps interest rates high, the more it will lead to an economic recession.
2️⃣ Bitcoin Spot ETF approval deadline
January 10, 2024 will become a key deadline for Bitcoin ETF approval. On this date, the US agency needs to make a decision on the deadline for Ark Invest's Bitcoin spot ETF application.
Otherwise, the deadline will be March 13-15, 2024, forcing the SEC to make a decision to accept or reject Bitcoin ETF applications. If approved, this will be a Big pump for the crypto market before the Halving time (around April 2024).
The SEC can absolutely decide to reject these Bitcoin ETF applications. However, with 12 Bitcoin Spot ETF applications this time, I think the SEC will not be able to refuse to avoid legal battles with large traditional funds like Blackrock.
3️⃣Upgrade Ethereum-4844
The ETH-4844 upgrade (Decun upgrade) is expected to be completed in the first quarter. EIP4844 (also known as Proto-Danksharding) is an important improvement for Ethereum that aims to increase the scalability of the network, especially on Layer2.
4️⃣Forecasting interest rate cuts
According to Morgan Stanley's forecast,#FEDwill begin cutting interest rates a series from June 2024 to gradually bring interest rates to around 2.375% by the end of 2025.
And Goldman Sachs believes that the FED will not reduce interest rates until the fourth quarter of 2024, lasting until mid-2026. Cutting interest rates and loosening monetary policy is a driving force for economic growth. From there, it is beneficial for other niches like Crypto when new money flows in.
5️⃣Bitcoin Halving 2024
There are about 177 days (5 months) left for the Bitcoin Halving event to take place. Halving will take place at block 840,000, the reward will be reduced to only 3,125 BTC.
Based on the past, previous Halving events have contributed to strong bullish periods for Bitcoin. Below is a summary table of BTC Halving events and the percentage Bitcoin price growth after each #halvingbitcoin event in the past.
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