The head of strategy at the American crypto exchange Kraken predicts four events that will likely help the crypto markets this year.
In a new interview with Bloomberg, Kraken strategy chief Thomas Perfumo says there will be “four big catalysts” for digital assets in the second half of 2024.
According to Perfumo, lower interest rates and the Ethereum (ETH) exchange-traded fund (ETF) will help push the cryptocurrency higher this year.
“Yes, I think in the short term there are about four big catalysts in the second half that I’m looking forward to. So broadly speaking, we’re talking about risky assets over the macroeconomy. So Canada and Europe are already lowering interest rates. The question is when the Fed will do that and to what extent will they do that with crypto? In concrete terms, the launch of the Ethereum ETF is a major issue that is once again attracting a lot of attention to crypto and involving many capital flows. It’s a rising tide that lifts all boats.
Furthermore, the Kraken executive says that global adoption of products traded on crypto exchanges and the outcome of the upcoming US presidential election will likely both push digital assets higher.
“Looking ahead, the US elections set the tone for policymaking and the legislative agenda for the next four years. And beyond that, you know, I think it’s just the continued trend of acceptance of Bitcoin’s global involvement in exchange-traded products like the UK and Hong Kong launching their own products, as well as the increased access to crypto ETFs here in the US.”
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