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The performance of Bitcoin in 2024 depends on various potential bullish and bearish catalysts, including institutional adoption, halving, regulatory changes, and macroeconomic trends, among many factors.
In 2023, a series of regulatory enforcement actions shook the confidence of some investors in the industry. The U.S. Commodity Futures Trading Commission took civil enforcement actions against the cryptocurrency exchange platform Binance and its founder and CEO, Changpeng Zhao (CZ).
In November, Binance reached a settlement with the U.S. Department of the Treasury and the Department of Justice. As part of the settlement agreement, CZ agreed to resign and transfer management control. Binance was not accused of misusing customer funds, and the platform did not experience a run on its reserves. This was one of the better outcomes that the market hoped for, and cryptocurrency asset prices rose as a result.
The Binance incident was like a looming dark cloud over the cryptocurrency assets, and the final settlement agreement acted as a massive green flag, clearing the gloom before 2024. |
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Post time 15-1-2024 12:36:47