7 Reasons Why Bitcoin Price Will Go Up In 2024
Things are looking very good for BTC.
1. Interest rate hike stops and possible cuts ahead
The Fed has paused interest rate hikes and has indicated recently that interest rate cuts could come in 2024. In the past, low interest rates meant that more money was allocated into assets such as stocks and Bitcoin. This trend is very likely to continue when interest rate cuts take place in the next year. As a result, we can expect Bitcoin price to increase.
2. High inflation is likely to persist
Bitcoin maintains its value compared to fiat currencies and thus provides protection against inflation. This will become more prominent again in 2024, as prices will remain high and even rise further in many places. These are the reasons:
Shrinkflation and skimpflation are not captured in the official calculation
Officially it is said that inflation has declined. However, anyone who goes to the supermarket in Northern America or the EU quickly realizes that this is not true. For example, many producers reduce the size of their products instead of raising prices directly. By doing this they hope to pass increasing production costs to consumers…
