Browsing Weibo today, I came across 13 predictions of a certain big V on the cryptocurrency market in 2024. My views are quite different from those of the big V. Every investor who enters the currency circle must first have the ability to self-control, then the ability to self-study, and most importantly, the ability to make his own judgment. It doesn't matter if you make a wrong judgment. Just correct it if you know it is wrong. If my opinion is wrong, friends are welcome to point it out.
1. The first spot Bitcoin ETF is expected to be approved, triggering capital inflows to triple.
There is a strong chance that the first spot Bitcoin ETF will be approved in 2024. The approval boosted the currency holding confidence of global investors, triggering a short-term rise in crypto market prices. After it is passed, the good things will turn bad, and the price of the crypto market will fall sharply. For details, you can refer to the gold price trend after the gold ETF was passed.
Today, the total market value of virtual currencies in the world is about $1.4 trillion. In the first year of the launch of the spot Bitcoin ETF, it can attract $5 billion in funds into the cryptocurrency market, and may attract about $50 billion in funds within five years. It is estimated that in the next ten years, the potential amount of new funds for Bitcoin investment products will be between $125 billion and $450 billion.
The spot Bitcoin ETF is expected to be approved in 2024, which can only attract US$5 billion in funds into the cryptocurrency market. It will have no impact on the nearly trillion-dollar capital market, but will only boost investors' confidence in the crypto market.
2. The fourth Bitcoin halving will enable low-cost miners to counterattack and achieve a 10-fold growth.
I agree. Bitcoin miners can quickly make a comeback as long as they can find cheap electricity.
3. Bitcoin is expected to hit an all-time high in the fourth quarter of 2024.
I agree with this view. Bitcoin will most likely hit a record high by the end of next year. The key lies in whether Bitcoin can hit a bottom in the first half of next year. Only after hitting the bottom can it quickly hit a record high. Bitcoin's future price trend will only become more and more stable, and the increase will only become smaller and smaller. The fierce bull market in 2013, 2017, and 2021 is no longer possible.
4. Ethereum may not catch up with Bitcoin, but it will surpass all major technology stocks.
I agree with this view. Whether Ethereum can catch up with Bitcoin depends on whether the Ethereum ecosystem can prosper again, especially Ethereum's second-layer network.
5. After the Cancun upgrade, Layer 2 will dominate the Ethereum ecosystem, and decentralized exchanges (DEX) on each chain will usher in vigorous development.
I agree with this view. The booming development of decentralized finance is the future development direction of the crypto industry, shouldering the sacred mission of subverting the world's old financial industry.
6. Platforms such as OKX, Bybit, Coinbase and Bitget will compete with Binance for the leadership of spot trading with their strong financial resources.
Spot trading is not the main focus of centralized exchanges; the contract market is the commanding heights that centralized exchanges compete for.
7. NFT popularity is expected to reach a new high.
The popularity of NFT will increase, but it is unlikely to reach a new high.
8. The market value of stablecoins is expected to reach more than US$200 billion.
I agree with this point of view. Over the past few weeks, major stablecoins have seen significant growth in market capitalization. The economic size of these fiat-pegged tokens has expanded from $123.66 billion to the current $129.14 billion. This massive increase of nearly $6 billion comes after the stablecoin industry lost tens of billions of dollars last year. Notably, tokens such as BUSD, USDP and USDC have seen significant redemptions over the past 12 months.
9. Decentralized exchanges (DEX) for new tokens are actively launched, and the spot trading market share is expected to hit a new high.
I agree with this view. Decentralized cryptocurrency exchanges are the future of the crypto market, with freedom and security going hand in hand.
10. The phenomenon of "Bitcoin staking" may occur.
I agree with this view.
11. A truly eye-catching blockchain game is expected to emerge.
I agree with this view. Blockchain games are the starting point of the metaverse.
12. DeFi’s total locked value (TVL) has rebounded, and Solana is expected to surpass Ethereum in performance.
Solana cannot surpass Ethereum. For a long time in the future, new public chains will take Ethereum as their goal to surpass. New public chains will fall on the road to surpassing, and there will only be one round of bull market glory, such as EOS, Solana, and future new public chains.
13. The DePin track will become a new opportunity.
I agree with this view. Recently, the discussion about DePIN-decentralized physical infrastructure network and RWA-real world assets in the Web3 industry has been very lively. The crypto market will always pursue new things. New projects without prospects will be popular in one round, and new projects with prospects will be popular again and again. When entering the cryptocurrency circle, you must maintain curiosity and learning ability for new projects and new hot spots, and continue to follow them.
Failure is inevitable when entering the cryptocurrency world. There is nothing to regret about failure due to lack of skills after trying your best. The most shameful failure is to give up when you still have the strength and opportunity to fight. Failure is not shameful, but it is shameful to surrender without firing a single shot. For those things that should and must be done, you must go all out and spare no effort to do them. Even if you fail, at least you can give yourself an explanation and live up to this crypto era.
Whether it is NFT, DEFI, Metaverse, chain games, or inscriptions in the cryptocurrency circle, every new hotspot is worth studying carefully, and every new track should not be underestimated.
I have finished commenting on a certain big V’s 13 predictions for the cryptocurrency market in 2024. Friends with different opinions are welcome to leave me a message. Let us discuss and witness the rapid development of the blockchain industry together.
I have finished writing, keep it up. I am the motivational guy in the B circle, an old investor who sincerely wishes you to get rich in the cryptocurrency circle.
