Renowned asset management firm VanEck has released 15 bold predictions that project the cryptocurrency landscape through 2024. These predictions offer an intriguing look at the future of the crypto market and are based on careful analysis from VanEck experts. Let’s take a closer look at some of these fascinating predictions:
1. US Recession and Bitcoin ETFs:
The first forecast points to a recession in the United States, but also predicts the emergence of the first Bitcoin ETFs. With over $2.4 billion flowing into these ETFs in the first quarter of 2024, they are expected to support the price of Bitcoin.
2. Quarta Halving do Bitcoin:
The second prediction suggests that the fourth Bitcoin halving in 2024 will have minimal impact on the market. On the contrary, a significant increase in the price of Bitcoin is expected after the halving, bringing substantial profits to low-cost miners.
3. Bitcoin Reaching New Heights:
The third prediction is exciting as it predicts that Bitcoin will reach its all-time high in the fourth quarter of 2024. Initially, it could be driven by political events and regulatory changes following a US presidential election.
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VanEck 15 Crypto Predictions for 2024
Prediction #1. The US recession will finally arrive, but so will the first spot #Bitcoin ETFs. Over $2.4B may flow into these ETFs in Q1 2024 to support Bitcoin’s price.
— VanEck (@vaneck_us) December 7, 2023
Predictions cover topics such as Bitcoin ETFs, Ethereum, NFTs and the rise of DEXs
4. Ethereum and the Competition:
The fourth prediction addresses Ethereum’s performance relative to top technology stocks. While Ethereum is not expected to surpass Bitcoin in 2024, it is expected to continue outperforming technology stocks. However, its market share will face challenges from other smart contract platforms.
5. Ethereum Layer 2s on the Rise:
The fifth prediction highlights the potential of Ethereum layer 2 after the implementation of EIP-4844. They should capture the majority of EVM-compatible TVL (Total Value Locked) and trading volume.
6. NFTs in Focus:
The sixth forecast predicts a rebound in NFT activity, with Ethereum leading the way. In other words, Bitcoin should also gain strength through the Ordinals protocol, changing the issuance ratio of NFTs from ETH to BTC by the end of 2024.
7. Binance Losing Lead:
The seventh prediction suggests that Binance will lose its position as the leader in spot trading. Thus, competitors such as OKX, Bybit, Coinbase and Bitget are preparing to compete for leadership. The Coinbase futures market could also surpass a daily volume of $1 billion.
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8. Rise of Stablecoins:
The eighth prediction projects that the market capitalization of stablecoins will reach a new record above $200 billion. USDC, in particular, is expected to regain its market share, indicating growing institutional adoption.
9. DEXs on the Rise:
The ninth prediction highlights that decentralized exchanges (DEXs) will achieve high shares in the spot trading market. Therefore, being driven by fast blockchains like Solana and wallets that allow automated transactions.
10. Increase in Bitcoin Remittances:
The tenth prediction points to an increase in the use of blockchain for remittances, with “Bitcoin Staking” on the Lightning Network. Thereby offering income opportunities through affordable staking tools.
So these are just a few of VanEck’s 15 exciting predictions for the world of crypto through 2024. Each brings a unique perspective on the future of the market, giving investors and crypto enthusiasts plenty to look forward to in the years to come.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.