The Three Critical Things to Watch in Bitcoin’s Price in Q4 2023

TL;DR

BTC’s year-end price may be affected by macroeconomic factors and regulatory changes, particularly the possible approval of a Bitcoin ETF in the US.
Market sentiment, endorsements from influential figures, and technical analysis could also drive short-term BTC rallies.
Predictions range from BTC reaching $120,000 to $150,000 in the coming years, with the BTC halving event in 2024 considered a potential catalyst.

BTC’s Catalysts at the End of the Year

There are various factors that could impact the price of the primary cryptocurrency in the last quarter of the year. In the lines below, we will pinpoint those and outline some of the latest predictions from experts and analysts.

One of the most important elements that could play a role is the macro-economic environment. Galloping inflation, economic crises, and rising interest rates have impacted BTC’s price in the past. That said, the overall improvement of the global economy or the Fed’s possible pivot from its anti-inflationary policy could lead to a Bitcoin rally.

The central bank of the United States has two more FOMC meetings until the end of 2023, where it will decide whether the time for reducing the record interest rates has come. 

Regulatory developments are also a significant factor. It is safe to say that the majority of governments across the world have so far failed to impose a comprehensive regulatory framework on cryptocurrencies. The US is undoubtedly amongst those where the SEC has caused much controversy with its actions. 

A possible approval of a spot Bitcoin ETF could change the trends and indicate that the industry has a huge advancement potential in the world’s largest economy. Recall that multiple finance giants, including BlackRock, Invesco, and Fidelity, have displayed intentions to launch such a product in America.

Last but not least, market sentiment (news, social media trends, and public perception) could trigger a short-term BTC rally. For example, endorsements from influential figures such as Elon Musk might push the asset’s valuation north in minutes. 

Technical analysis and psychological levels, adoption rates, and network developments are additional components that could benefit BTC bulls.

Some of the Latest BTC Predictions

Countless experts and well-known individuals have recently envisioned a bright future for the primary cryptocurrency, seeing it trading at a new all-time high.

Robert Kiyosaki – an American investor, motivational speaker, and author of the book “Rich Dad, Poor Dad” – recently predicted that BTC could soar to $120,000 in 2024 as the US dollar “will die.”

Adam Back (CEO of Blockstream), Tom Lee (Managing Partner at Fundstrat), and Anthony Scaramucci (former White House official) have also laid out similar forecasts.

Another essential factor that might prompt a bull run is the BTC halving scheduled for the spring of next year. Analysts of Pantera Capital think the asset could blast to $150K in 2024 as a result of the event.