Cryptocurrency experts have identified the main factors for the growth of cryptocurrencies in the future

Finbold analysts say that many macro and micro factors will dictate the timing, fierceness, and duration of the next bullish breakout when the cryptocurrency industry starts a stable positive trend. «We don’t know the day or hour when cryptocurrencies will turn bullish. But we know it will happen as surely as night follows day,» crypto experts hope.

Experts have identified three factors that can contribute to the growth of the flagship crypto market and the industry as a whole.

Introduction of ETFs

The first driver of BTC growth is the approval of ETFs. Financial institutions have been trying to get permission from the US regulator for a long time, but the US Securities and Exchange Commission has always refused, citing the potential for market manipulation.

Approval of the Bitcoin ETF will mean that pension funds will be able to gain direct access to cryptocurrencies for the first time. This also confirms the thesis that cryptocurrencies are the asset class that will open the door for other ETFs. Experts suggest that Ethereum (ETH) will be the next to get the green light.

Regulatory policy

«Regulation of cryptocurrencies is often described in a negative context, as something that restrains the market rather than fuels it.This is understandable, as most attempts to regulate the industry, especially in the United States, have been overly thorough in their coverage and risked stifling innovation,» crypto experts write.

Nevertheless, Finbold notes that the regulatory policy allows financial institutions to communicate more transparently with clients. For example, the UK is now paying more attention to consumer protection, and the EU introduced a harmonized system of digital asset regulation in April.

«One way or another, there will come a time when the most egregious proposals will either be turned into law or rejected in favor of softer alternatives.When that happens, just trust,» the journalists advise.

Halving

«If cryptocurrencies still haven’t reached a high level by the first quarter of next year, don’t despair — the next potential driver will be inevitable,» crypto experts predict.

In a year, the main crypto asset will halve. This is a phenomenon when the reward for a block issued to miners is halved. Currently, 6.25 BTC are issued approximately every 10 minutes. From May 2024, this reward will decrease to 3.13 BTC.

As of the morning of August 31, bitcoin was trading at $ 27,253 with a market capitalization of $ 530.6 billion. Traders made daily trading deals worth $ 14.58 billion. BTC’s market share amounted to 48.9%.