The price of Bitcoin (CRYPTO: BTC) is rallying, surpassing $35,000, fueled by increasing interest in Bitcoin Spot ETFs and anticipation surrounding the upcoming halving in 2024.
Gracy Chen, CEO of Bitget, spoke to Benzinga ahead of the Future Of Digital Assets event that is happening on November 14.
C u at @Benzinga 's Future of Digital Assets event in New York this November 13-14. The venue is Convene 225 https://t.co/FgPdUvMTbj https://t.co/Upn32QCOlF — Gracy Chen @Bitget (@GracyBitget) November 2, 2023
Chen told Benzinga that Bitcoin “halving used to be a huge topic but the effect is diminishing over time.”
Factors Influencing BTC Price
In her view, two crucial factors that could heavily influence the BTC price are the Federal Reserve’s interest rates and the introduction of spot BTC ETFs. Chen noted that more than nine companies, including major Wall Street players like BlackRock and Fidelity, have filed for these ETFs.
"So if there are more people buying, but also institutional investors, like pension funds, insurance funds, they have a ...