Is 2024 Bitcoin’s Big Year?

Published on January 4, 2024

News Analysis U.S. regulators’ pending approval of the spot Bitcoin exchange-traded fund (ETF), which could come as soon as next week, and severe criticisms of the Securities and Exchange Commission (SEC) for missteps in the prosecution of a Utah-based firm, DEBT Box, and for a general pattern of regulatory overreach, have combined to give the cryptocurrency market unprecedented momentum in 2024, financial and legal expert analysts have told The Epoch Times. For Bitcoin, 2024 is off to a strong start. On Tuesday, Jan. 2, riding high on expectations of spot ETF approval, Bitcoin hit $45,000, before dipping modestly to $42,666 on Wednesday. The severe risks that regulators associate with Bitcoin and other cryptocurrencies are real indeed, and criminals make wide use of Bitcoin scams to rip off unsophisticated investors, often older people who did not grow up with social media and online trading platforms. The latter problem is so acute that police in U.S. states routinely issue warnings about the dangers of investing in crypto online. Crypto is still a highly volatile asset, and the value of a digital portfolio can disappear virtually overnight....