"2024 Crypto Forecast: From Bold Bitcoin Rallies to ETF Impacts and $80K Predictions"

Grayscale, a major digital asset manager, has emphasized that while the potential approval of spot Bitcoin ETFs in the US could bring new investors and demand for Bitcoin, the cryptocurrency's fundamentals and sustained demand from end investors will be more crucial for its price in the long term. Despite the volatility of the crypto market, Bitcoin's role as a store of value, similar to gold, means its price will be influenced by factors such as real interest rates and geopolitical risks. Bitcoin recently saw a price surge, trading above $45,000 for the first time in 21 months.