- Spot Bitcoin ETFs expected to be sanctioned in January 2024.
- Bitcoin halving projected for April 2024.
- FASB may implement Bitcoin fair value accounting in December 2024.
In a post on X (previously known as Twitter), James Van Straten, the chief analyst at CryptoSlate, outlined a prospective timeline for Bitcoin
Following ETF trading on Van Straten’s schedule, he anticipates the initial interest rate reduction in the United States. Subsequently, the much-awaited Bitcoin halving is projected to happen in April 2024.
The expert believes that interest rate reductions will persist from May through November of the following year. Consequently, this could lead to an influx of capital into the cryptocurrency sector as investors invest in more speculative asset categories, such as digital currencies. Furthermore, Van Straten anticipates that the Financial Accounting Standards Board (FASB) will likely implement fair value accounting practices for Bitcoin in December 2024.
Previously, Michael Saylor, the creator of MicroStrategy, shared news about the possibility of the Financial Accounting Standards Board (FASB) embracing fair value accounting for Bitcoin (BTC). A post on X (previously known as Twitter) from December 13 revealed that the FASB has formally decided to implement fair value accounting for BTC for fiscal years starting after December 15, 2024.
In his post, Saylor mentioned that improving accounting standards would promote the global corporate adoption of BTC as a treasury reserve asset. Regarding its value, the primary cryptocurrency experienced a 4.28% increase in the last 24 hours. Consequently, at the time of reporting, BTC was being traded for $42,927.34, based on data from CoinMarketCap.
Following a decline in value to $40,530.26 during the previous trading day, the cryptocurrency has since rebounded. Bitcoin (BTC) has climbed back up to its present trading price. Additionally, it is now trading nearer to its 24-hour peak of $43,354.30 than the low it experienced within the same period.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
