Cryptocurrency markets experienced high volatility as the calendar turned earlier this week. Short-term uncertainty due to the upcoming decision by the U.S. Securities and Exchange Commission (SEC) has sparked high speculation in the cryptocurrency market.
Additionally, nearly $1 billion has been liquidated from cryptocurrency leveraged trades over the past four days. Nonetheless, the initial cryptocurrency bullish sentiment that began in the fourth quarter of 2023 is expected to last for the next 24 months.
Why is 2024 the most optimistic year?
According to renowned economist and Bitcoin trader MikyBull Crypto, the X platform’s macro bullish cycle is in its early stages based on fundamentals and technical aspects. As a result, the cryptocurrency analyst claims that Bitcoin (BTC) could easily hit its all-time high (ATH) during the third and fourth quarters of 2024.
The cryptocurrency analyst supported the bullish argument as high-impact events are looming on the horizon, including the Bitcoin halving and the highly anticipated spot Bitcoin and Ethereum exchange-traded fund (ETF) approvals.
In particular, the US Federal Reserve (Fed) is expected to make several rare interest rate cuts after a series of rate hikes over the past few years to combat high inflation. Additionally, in a general election year in the United States, we see several candidates promising support for the blockchain and digital asset industry in an attempt to win over voters.
Altcoins to watch out for
With the altcoin market expected to post higher gains than Bitcoin in the current bull cycle, MikyBull Crypto is taking a closer look at layer 2, layer 1, AI-driven cryptocurrencies, gaming and metaverse digital assets, and perpetual DEX tokens. I think it’s wise. .