While the Cryptoverse anxiously awaits the Blackrock Bitcoin spot ETF approval, which is expected to be announced by the U.S. SEC in early January 2023 (along with up to a dozen other ETFs), many crypto bulls are not only increasing their Bitcoin (BTC) positions, but they are also investing big in everything from meme coins to NFTs.
Now that there’s more government regulation overseeing digital gold, along with several bad actors like SBF having been eliminated from the equation, BTC and other top cryptos are about to explode in price. And this prediction doesn’t include the Bitcoin halving, which will occur in April of 2024—a catalyst that will certainly drive the king of all cryptos to new all-time highs.
While things are definitely looking very optimistic in crypto land, the space wasn’t always looked upon fondly by major investment firms, especially when it was easily manipulated by bad actors. Says Silver Miller Law, a Florida firm that took the lead in Coinbase litigation back in 2016, they were able to engage in a class action lawsuit based on sufficient evidence that Coinbase willfully served as a funnel for laundering millions of dollars stolen from account holders at the Florida-based crypto exchange, Cryptsy. In the end, the firm was able to produce a legal settlement from Coinbase of close to $1,000,000.
But that was then, and this now. With Coinbase and other crypto platforms having become far more secure, the days of the Crypto Wild West are over. That said, what do commercial and mainstream investors need to know about crucial crypto trends in 2024?
According to a recent report by Xapo Bank, as the crypto market matures, diversifies, and becomes a far safer financial playing field than ever before, these are thought to be some of the most pivotal trends you can expect to see come 2024.
Price Predictions and Other Trends
Like the majority of the U.S. financial markets, crypto like BTC works according to cycles. Now that the next Bitcoin halving is expected in April 2024, a massive surge in market activity exacerbated by the SEC approval of a large batch of BTC spot ETFs means the crypto gold will likely see an all-time high in 2025 of perhaps mid-six figures.
However, no one knows what the exact price will be. But it’s a good bet that Bitcoin reaches an all-time high of $80,000 in 2024 and $150,000 in 2025. The Crypto Nutshell daily newsletter predicts a $1 million Bitcoin over the course of the next 4-year cycle.
The Bitcoin halving means the mining block rewards will be cut from 6.25 to 3.125. The limited supply of the asset combined with massive institutional and mainstream adoption will see a surge in demand. This simple supply-and-demand equation will fuel the price surges.
Says Standard Chartered Bank for CoinDesk, BTC will likely reach $100,000 prior to the end of 2024, which will mean a fine Thanksgiving and Holiday season for crypto holders. Again, the surge in price is being propelled at present largely by a batch of U.S.-based spot Bitcoin ETFs, which are expected to realize their SEC approvals beginning January 8, 2024.
Other Crypto Predictions and Trends
Aside from the approval of BTC spot ETFs and the halving, here are some other crucial crypto trends investors need to pay attention to in 2024:
Mass Adoption: The crypto bull run will attract a massive number of new users to new and emerging projects, which will likely bring record liquidity to the market.
Institutional Investment: Major financial institutions and banks are already preparing to allocate a portion of their assets to cryptocurrencies, especially BTC. This will also bring brand-new liquidity to the market.
Web3 Transition: The recent shit from Web2 to Web3 will place a significant emphasis on decentralization, smart contracts, data ownership, trustless transactions, along with interoperability among ecosystems and specific financial applications. It will also attract a larger audience to decentralized crypto like Bitcoin.
In conclusion, there is no better time than right now to be investing in crypto like Bitcoin. All indicators are pointing to a digital gold that is likely to reach all-time highs over the course of the next few months and in 2025, once again reach all-time highs. But beware of 2026, which will likely usher in a new bear market and a downturn in crypto prices.
Plan accordingly. Keep in mind it’s always best to speak to your financial advisor before investing your cash into any asset, not matter how safe or volatile.
