Bittime Predicts Crypto Market Capitalization to Touch USD 3 Trillion in the Second Quarter of 2024, These are the Driving Factors

He believes that this is because more and more investors want to gain exposure to crypto assets, where Bitcoin ETFs provide easier access to this asset class and trigger strong demand in March 2024, thereby boosting the crypto market.

“Bitcoin prices broke through to an all-time high in March 2024, as the Bitcoin ETF recorded daily net inflows of more than one billion US dollars, or higher than the inflows experienced since the launch date,” said Francis.

On the same occasion, Bittime CEO Ryan Lymn said that the crypto market will remain bullish because global investors continue to increase Bitcoin ETF holdings ahead of the highly anticipated Bitcoin Halving moment in mid-April 2024. “At the same time, global digital asset regulations are becoming more focused on investors crypto,” said Ryan.

In March 2024, European regulators passed new anti-money laundering laws, while the US Securities and Exchange Commission (SEC) took steps to potentially classify Ethereum (ETH) as a securities instrument, related to the news of an Ethereum ETF.

“The three month period from February to April is historically a strong period for Bitcoin prices and investors are optimistic that the crypto rally in early 2024 can continue into the second quarter,” said Ryan.