Key events in the digital assets and investment market
1. According to CoinShares, institutions have significantly increased investments in altcoins. According to the results of a survey conducted among investors, they significantly increased the share of investments in Solana-based products. This was reported by 15% of respondents, although at the beginning of the year none of the respondents had invested in a crypto coin. “Investors are very bullish on Solana,” said James Butterfill, head of research at CoinShares.
2. Spot funds based on digital currencies will appear on the Hong Kong market as early as April 30 this year. This was reported in Bloomberg. Fund management fees can range from 0.3% to 0.99%, which is less than expected. Bloomberg also noted that one should not expect the success of similar products released in the United States to be repeated in Hong Kong. Analysts emphasize that with the help of ETFs it will be possible to attract no more than $1 billion.
3. The desire of the US authorities to introduce an increased rate on capital gains will not affect the majority of cryptocurrency investors, even if the initiative becomes law. This opinion was expressed by the founder of Crypto Tax Made Easy, Matthew Walrath. “The proposal essentially says they want to raise the long-term capital gains tax rate for people earning over $1 million a year to 44.6%. Really high-income earners could potentially — if this budget proposal goes through — face a much higher long-term capital gains tax rate. But for the most part, it’s unlikely that it’s going to affect the average crypto user,” Walrath commented.
4. Spot On Chain announces forecasts regarding the rate of the main cryptocurrency for 2024 and next years. Experts believe that during May-July the price of Bitcoin will fluctuate between $56,000 and $70,000. This time will be characterized by increased volatility. At the same time, the probability of BTC falling below $60,000 is slightly less than 50%. In the second half of 2024, there is a 63% chance that the first digital coin could rise in price to $100,000. In addition, there is a “strong probability” of 42% that the price of Bitcoin will exceed $150,000 in the first half of next year. “The chances are that the price Bitcoin will exceed $150,000, increases to 70% if we consider the entire year 2025,” experts emphasized.
