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Galaxy Digital Warns! Bitcoin Price Sell-Off Could Continue!! Bitcoin is expected to be the scene of important trends in 2024, but it could face some challenges in the cryptocurrency market. According to a research report by Galaxy Digital, large amounts of money are expected to flow into Bitcoin ETFs; however, it is also stated that the increase in the cost of existing spot ETFs such as Grayscale could lead to “selling pressure on Bitcoin that could last for weeks or months.”
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The Galaxy Digital report also emphasizes that the halving, which will take place in April 2024, could lead to consolidation in the market, but the monetary expansion policies of central banks could be a positive factor for Bitcoin.
While Ethereum is expected to provide more support for Layer 2 platforms with its updates this year, it is also predicted that Ethereum will face unique competition from alternative Layer 1 blockchain such as Solana.
These expected developments in the cryptocurrency market offer investors various opportunities, but they also bring risks that need to be considered carefully. In this context, investors need to be prepared for changes in the market and adopt a strategic approach.
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