After a successful start to the year, when bitcoin briefly surpassed the $30,000 mark, this leading cryptocurrency faced a number of problems and a subsequent price correction. 

Nevertheless, many experts and market participants suggest that 2024 may become a turning point and return the bullish trend. The key factors that can become catalysts for growth are the upcoming halving of bitcoin, the revision of interest rates by the US Federal Reserve, the potential introduction of exchange-traded bitcoin funds (ETFs) and the US presidential election.

Historical analysis of bitcoin market cycles shows that approximately every 4 years bitcoin experiences a «halving», which reduces the rate of new bitcoin issuance by half and thereby increases the price due to increased demand. As the next halving approaches in 2024, investors expect a reduction in supply, which could potentially lead to higher prices.

In addition, it is expected that after a long period of raising rates, the US Federal Reserve will begin to reduce them in 2024. This may encourage investors to look for higher-yielding investments outside of traditional assets, which contributes to the growth of interest in cryptocurrencies.

Another growth factor may be the potential approval and launch of the long-awaited spot bitcoin ETF in 2024. If the US Securities and Exchange Commission (SEC) gives the green light to bitcoin ETFs, this may become an additional incentive to attract large investors to the cryptocurrency market.

And finally, the upcoming US presidential elections in 2024 may contribute to the dynamics of the market, especially if the new government supports a favorable regulatory policy regarding cryptocurrencies and blockchain technology.