Bitcoin (BTC) has been evident in fluctuations since the beginning of 2023. But, BTC is still expected to reach a new All-Time High (ATH) in the coming time. This has been observed that many traditional financial systems have been taking an interest in the crypto industry.
Prominent figures from the manufacturing and mining sectors are predicting that the 4th Bitcoin halving is going to push Bitcoin. They believe that this halving could propel Bitcoin (BTC) above $100,000 in 2024. Various traditional financial systems have been looking for possible ways to adopt cryptocurrencies to stabilize finances. This growing admiration for crypto assets would help leading digital asset Bitcoin (BTC) to gain new ATH in the coming time.
Davis Hui, the Vice President of Canaan shares his views on Bitcoin’s new ATH price in a panel discussion at ‘Avalon Bitcoin and Crypto Day (ABCD)’. Several executives took part in the panel discussion and affirmed that Bitcoin’s upcoming price for 2024 can surpass $100k.
The panel included Bitcoin mining executives from the United Arab Emirates (UAE), Kazakhstan and Singapore. The panel discussed Bitcoin’s price for 2024 and its impact on the mining sector because of the reward halving of BTC mining coming ahead. Davis emphasized the factors that there is the possibility of less BTC mining in the coming time as only 6.25 BTC per block after the reward cut.
Another agenda that drew the attention of the panel was the increasing interest of traditional financial systems toward cryptocurrencies. Hui says that the financial giant, BlockRock has the worth value of $10 trillion which is far more than the collective worth of assets which is $2 trillion.
He is of the view that this increasing interest and Bitcoin’s halved supply would push Bitcoin upward. The panel also spoke about the significance and pending applications of Bitcoin ETFs to SEC by global financial managers.
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