Published on 13 Apr 2024 on Motley Fool via Yahoo Finance
The cryptocurrency market cooled off in 2022 as rising interest rates, regulatory challenges, and other macro headwinds drove investors toward more conservative investments. But over the past year, the crypto market warmed up again as the U.S. Securities and Exchange Commission (SEC) approved the first spot price Bitcoin exchange-traded funds (ETFs) and investors looked forward to lower interest rates.
The upcoming Bitcoin "halving," which will reduce the rewards for mining the cryptocurrency; network upgrades for the Ethereum Network; and more institutional cryptocurrency purchases also brought back more bulls.
Image source: Getty Images.