Thomas Perfumo explained that the upcoming US presidential elections set the tone for the development of legislative initiatives for the crypto industry for the next four years.
“I think there are about four big catalysts that will emerge in the second half of the year. In particular, the launch of the ETH ETF is a big event that brings a lot of attention to cryptocurrency and brings a lot of capital inflows,” he said.
Another catalyst for growth will be the US Federal Reserve’s (Fed) interest rate cut, as Canada and Europe have already done. The ongoing trend of global Bitcoin adoption and the outcome of the 2024 US elections will also serve as catalysts for the growth of cryptocurrencies on exchanges. Thanks to them, the market will be able to demonstrate a sustainable bullish trend next year, Perfumo believes.
Earlier, experts from the analytical platform CryptoQuant stated that market data indicates that the cryptocurrency market has entered the second largest institutional accumulation.
Source: Bits
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