Bitcoin Price and Ethereum Prediction: BTC Soars Towards $24K - How Far Can ETH Follow?

cryptonews.com:

Bitcoin's price has soared toward $24,500 and many are wondering how far it can go. At the same time, Ethereum's value has been increasing, albeit at a slower pace than Bitcoin's. In this article, we'll look at how both cryptocurrencies are doing now and try to predict how they might do in the future.

Today, the cryptocurrency markets have experienced a significant surge in value, largely due to positive news out of Hong Kong. The Asian financial hub has announced that it will be opening its doors to digital assets and investors, with plans to become a leading crypto hub in the region. 

From June of this year, buying, selling, and trading crypto will be fully legal for all Hong Kong citizens, including mainland Chinese institutions. 

This development has generated a positive response from the markets, with prices rising by as much as 9% in just one day. Hong Kong's decision to embrace digital assets means that money from China can now flow easily back into the crypto markets, despite the ban on crypto for individuals in the country. 

These developments stem from a January announcement made by Paul Chan, the Financial Secretary of Hong Kong, in which he declared that the city is aiming to become a crypto hub with a strong regulatory framework.

Galaxy Digital's founder and CEO, Mike Novogratz, has expressed his belief that Bitcoin prices will reach $30,000 by the end of March. Speaking at a Bank of America conference on February 15, Novogratz highlighted the price action and excitement among customers, stating that the increasing FOMO, or Fear Of Missing Out, is building up to make his prediction a reality. 

With Bitcoin's largest daily gain in over a month, surging by 12% in the past 24 hours, the cryptocurrency would only need