TechFlow news — Recently, Huatai Securities released a research report on the electronics industry, analyzing three major themes and eight predictions for 2024.
In the report, Huatai Securities analysts forecast that Bitcoin's price will reach a new all-time high in 2024, citing reasons such as "Looking ahead to 2024, apart from macro factors like the U.S. entering a rate-cutting cycle, we observe the following events could impact Bitcoin's price":
1) Bitcoin's new issuance halving (April 2024). According to Bitcoin's algorithm, the amount of newly issued Bitcoin halves every four years. Historically, after each of the previous three halvings, Bitcoin experienced price increases. In April 2024, Bitcoin will undergo another halving.
2) On the afternoon of January 10 local time, spot Bitcoin ETF applications from Grayscale, BlackRock, Fidelity, and other institutions were approved by the U.S. Securities and Exchange Commission (SEC), officially commencing trading on January 11. According to Bloomberg data, first-day trading volume exceeded $4.6 billion.
