Huatai Securities predicts that the price of Bitcoin will reach a new all-time high in 2024

Huatai Securities recently released a research report on the electronics industry, analyzing three major trends and eight predictions for 2024. Among them, Huatai Securities analysts predict that the price of Bitcoin will reach a new historical high in 2024. The reasons include: 1) The halving of newly issued Bitcoins (April 2024). According to the Bitcoin algorithm, the new issuance of Bitcoins is halved every four years. Historical records show that after the previous three halvings, Bitcoin prices have risen; 2) Institutions such as Grayscale, BlackRock, and Fidelity have obtained approval from the U.S. Securities and Exchange Commission (SEC) for their Bitcoin spot ETF applications, with trading volume exceeding $4.6 billion on the first day.