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Is 2024 going to see Bitcoin (BTC) at $120k? Experts suggest buying this DeFi token instead

Press Releases Crypto News AMB-Crypto Is 2024 going to see Bitcoin (BTC) at $120k? Experts suggest buying this DeFi token instead

2024 is set to be an exciting year for the cryptocurrency market and community. Bitcoin (BTC), the ecosystem’s most valuable coin, will undergo its fourth halving event. This event, happening every four years, cuts by half the reward for mining Bitcoin transactions, along with its inflation.

But that’s not what investors are excited about. After Bitcoin’s halving event, a market-wide price surge followed, resulting in new highs. In the process, crypto investors realize huge profits. That’s the exciting part. 2024’s halving event will occur in April.

Besides Bitcoin, another cryptocurrency investors are buying ahead of this event is Retik Finance (RETIK). The DeFi sensation has recently become an investor favourite, owing to its innovative ecosystem. In this article, we’ll evaluate Bitcoin and Retik Finance to see which has the most potential for a successful year.

Click Here To Take Part In Retik Finance Presale

Bitcoin (BTC): Will the King of Crypto breach the $100K mark?

Bitcoin has come a long way since it was launched in 2009. Its value has risen from a worthless invention to an $800 billion sensation. The current price of BTC is roughly $43,800 per bitcoin. This is 36% below its all-time high price of $68,770, achieved on November 10, 2021.

Bitcoin has had a bullish 2023, appreciating more than 130%. One of the reasons behind Bitcoin’s price appreciation in 2023 has been the halving event. Another reason has been speculation about the creation of the first Bitcoin spot exchange-traded fund (ETF) in the U.S. Several asset managers have already submitted their applications to the Securities and Exchange Commission, waiting for approval. The approval of a Bitcoin spot ETF will potentially push Bitcoin’s demand and price higher.

However, even with spot ETF approval and the halving event as price catalysts, Bitcoin’s price might not skyrocket because its value is already really high. Traditionally, cryptocurrencies with a large market cap only perform moderately well, even during a bull market.

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Author: AMBCrypto Team

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