Bitcoin has reached $31,300, marking an 89% increase for the year so far. The rise in Bitcoin’s price can be attributed to mean reversion and institutional adoption. However, industry experts predict that the next bitcoin halving in 2024 will have a more significant impact on its price. The article also mentions upcoming events such as the Permissionless II Hackathon and the Digital Asset Summit in 2024. The SEC has never allowed a bitcoin ETF to come to market despite numerous attempts.

AI Sentiment: Positive