Can Bitcoin Amaze Investors by Year-End? Bitcoin Forecast

Bitcoin commenced the final week of 2023 with sideways movement following a minor dip. Cryptocurrency enthusiasts are eager to know if BTC can deliver a year-end surprise. According to their expectations, market participants may witness Bitcoin reaching $48,000 before the year's end.

Optimistic Bitcoin forecasters highlight the increasing anticipation surrounding the potential launch of the first-ever U.S. spot Bitcoin ETF. This instrument, according to market participants, is expected to attract institutional investors, bolstering BTC's growth.

Recent reports suggest that the U.S. Securities and Exchange Commission (SEC), the regulatory body responsible for approving the instrument, has requested final amendments to be made to applicants' submissions by December 29. Many investors view this as a signal indicating the imminent arrival of the instrument in the U.S. Bloomberg analysts previously speculated that spot Bitcoin ETFs might debut in early 2024.

Previously, BeInCrypto examined why some members of the crypto community perceive spot Bitcoin ETFs as a threat to the crypto industry.

While some investors anticipate BTC's sideways movement at year-end due to decreased market activity during the holidays, others believe Bitcoin may continue its correction, possibly dropping below the $40,000 level. Trader Bluntz attributes his bearish Bitcoin forecast to a simple correction following recent growth.

Many in the crypto community have noted Bitcoin's decreasing dominance and growing investor interest in altcoins. Prominent analyst Michael van de Poppe believes that now is the ideal time to invest in altcoins, with the trend likely to persist into early 2024. However, crypto enthusiasts caution that investors may soon shift their focus back to Bitcoin.