Bitcoin Price Boost Ahead: CEO’s Bold Prediction Points To 10 US States Adopting Pro-BTC Laws In 2024
2023年11月23日 - 10:00AM
NEWSBTC
In a recent statement, Dennis Porter, the co-founder and CEO of
Satoshi Action Fund, expressed his belief that the year 2024 will
mark a crucial turning point in the history of Bitcoin.
Porter’s remarks amidst growing anticipation surrounding the
approval of spot Bitcoin exchange-traded funds (ETFs) and the
highly anticipated halving event scheduled for April 2024.
According to Porter, these events, combined with the efforts of the
Satoshi Action Fund, have the potential to impact the price and
adoption of Bitcoin significantly. Satoshi’s Plan To Establish The
US As Global Bitcoin Leader Satoshi Action Fund, a non-profit
organization dedicated to informing policymakers and regulators
about Bitcoin, has actively shifted the narrative surrounding the
world’s leading cryptocurrency. The fund aims to promote
“hyper-Bitcoinization,” a term coined to describe the widespread
adoption of Bitcoin as a global currency. One of the primary goals
of the Satoshi Action Fund is to advocate for the passage of
pro-Bitcoin legislation in 10 different US states by 2024.
According to Porter, these proposed laws would protect individuals’
rights to self-hold and mine Bitcoin, positioning the United States
as a global leader in Bitcoin adoption and mining. Related Reading:
Panic At Binance Following CZ’s Departure? Analyzing 24-Hour Inflow
and Outflow Trends Interestingly, Porter envisions a future where
bipartisan legislation empowers Bitcoin and fosters the growth of
an emerging digital asset industry. Recent developments in the
Bitcoin ecosystem further bolster Porter’s optimism. The halving
event occurs approximately every four years and is anticipated
to reduce the rate at which new Bitcoins are created, potentially
leading to increased scarcity and upward price pressure.
Additionally, the long-awaited approval of Bitcoin ETFs by the
Securities and Exchange Commission (SEC) has the potential to
attract institutional investors and facilitate mainstream adoption.
BTC’s Path To New Heights Renowned crypto expert Charles Edwards
has boldly proclaimed that the recent liquidation of fear,
uncertainty, and doubt (FUD) surrounding the crypto market will
pave the way for a significant price rebound. Edwards
believes that the culmination of recent developments, particularly
the Binance news, will eliminate sources of FUD accumulated over
the past two years. The market has been gripped by panic triggered
by headlines associating the term “guilty” with cryptocurrencies.
However, Edwards suggests that the recent news concerning Binance
should be viewed more as a settlement rather than a detrimental
event. Edwards points out that five years ago, exchanges were
not compliant with know-your-customer (KYC) and anti-money
laundering (AML) regulations, whereas now, they have implemented
these practices. Consequently, Edwards believes that the lingering
FUD surrounding Binance can finally be restored. Looking ahead,
Edwards highlights several positive catalysts on the horizon for
BTC. These include the potential approval of ETFs, the upcoming
Bitcoin halving event, expectations of lower interest rates, and
the possibility of a recession leading to increased quantitative
easing (QE). Related Reading: Binance New CEO Affirms Strength In
Company’s Fundamentals Edwards concludes by envisioning a “Bitcoin
liquidity atomic bomb” waiting to explode. With the elimination of
FUD and a series of positive triggers aligning, the market is
poised for a substantial rebound. The convergence of ETF
approvals, the halving event, accommodative monetary policies, and
a potential recession are expected to propel Bitcoin to new
heights. At the time of writing, Bitcoin (BTC) is trading at
$36,500, experiencing a slight decline of 2.2% over the past 24
hours. Featured image from Shutterstock, chart from
TradingView.com
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