Bitcoin (CRYPTO: BTC) has been surging in price in recent months. After coming off a strong year in 2023 where its value jumped by 154%, the digital currency has been building off those gains in the early part of 2024 as well. On Monday, it hit a new 52-week high of more than $47,000.

As well as Bitcoin has been performing of late, its valuation can still go even higher, and crypto stocks could also go along for the ride. Here are two reasons why it could be a spectacular year for Bitcoin and crypto stocks in general.

The approval of a spot Bitcoin exchange-traded fund (ETF) may happen as early as this week.

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Source Fool.com