Bitfinex analysts have identified four sources of Bitcoin's recent rally, which have driven the price up to over $44,000. The first factor is the upcoming halving event in April 2024, which historically leads to a reduced supply of new coins and therefore an increase in the price. They believe the possible approval of spot Bitcoin ETFs could also drive institutional investment, leading to a surge in the BTC price. El Salvador's adoption of Bitcoin and the potential for other nations or corporations to do the same is seen as likely having a positive effect. Finally, should central banks reduce interest rates, this could make riskier asset classes like cryptocurrencies more attractive. This situation is already being reflected in the link between crypto price trends and monetary policy.



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