Bitcoin News and Finance
Crypto Crossroads — Contrasting 2024 Predictions Signal a Year of Defining Shifts Skip to main content

Crypto Crossroads — Contrasting 2024 Predictions Signal a Year of Defining Shifts

Throughout the past year, enthusiasm and speculation around bitcoin and other crypto assets have surged, particularly as the year drew to a conclusion. The Motley Fool’s forecasts for 2024 strike a pessimistic tone, anticipating a “buy the rumor, sell the news” scenario related to the spot bitcoin exchange-traded fund (ETF) and further projecting that the crypto market will not decouple from the traditional stock market. In contrast, bitcoin advocates maintain a more optimistic outlook for the upcoming year, estimating the value of bitcoin to range from $80,000 to $120,000.

Dueling Visions Set Stage for 2024’s Crypto Saga

On the final day of 2023, The Motley Fool, a well known provider of financial and investing advice, released four projections relating to the crypto economy. The writer comments that the “phenomenal 2023” BTC experienced may prove challenging, perhaps even unattainable, to replicate.

Regarding the spot bitcoin ETF, the author remarks that it might result in a “buy the rumor, sell the news” scenario, especially given BTC’s impressive 160% increase in 2023. Additionally, The Motley Fool predicts that the highly favored ‘dog’ coins are expected to continue their lackluster performance. The author adds:

With nothing more than enthusiastic social media banter holding up the valuations of DOGE and SHIB, I’d expect another underperforming year for both ‘dog’ coins.

The analysis extends, with the author expressing skepticism that the crypto market can successfully separate from leading benchmark indices such as Nasdaq and the S&P 500. Furthermore, the author forecasts that the crypto world is on the cusp of another “major failure” that will prove to be “game-changing.” Notably, Sean Williams of The Motley Fool also hints at rumors surrounding tether (USDT) potentially decoupling from the U.S. dollar.

The Other Side of the Crystal Ball

While these insights offer an external perspective, it’s beneficial to consider a range of predictions, including those from more informed sources within the industry. Bitcoin advocate Nic Carter foresees numerous beneficial shifts in 2024, including the expansion of the stablecoin market from its current $135 billion to an impressive $200 billion. Carter anticipates that spot bitcoin ETFs will garner “at least $20b of flows in year 1” and maintains that BTC’s value will be flat upon the approval of an ETF.

Nevertheless, Carter holds the view that BTC might achieve a value of $80,000 per unit within the year. On Dec. 31, the well-known figure ‘Whale Panda,’ whose real name is Stefan Jespers, unveiled his expectations for BTC’s trajectory in 2024. He described the year’s uptick as “just [a] normal market cycle behavior after capitulation,” asserting that it wasn’t solely attributable to the ETF.

“Who has been buying all the bitcoin you sold at $20K expecting it to go to $12K? Saylor and Tether are [two] big players but data shows it’s also just regular people stacking,” Whale Panda remarked. “ETF approval spikes us to $50K-ish, then depending on how long it takes for the ETFs to launch it will start selling off, maybe to low $40k-ish if it takes a month before they launch … [I] don’t see us go below $38K.” Whale Panda added:

After that just a steady rise like a normal bitcoin bull market passing $70K in April-May with some stalling in the summer and then end the year at around $100K-120K.

The divergent views between the likes of The Motley Fuel and BTC advocates paint a vivid picture of the crypto market’s unpredictability. From cautious pessimism to buoyant optimism, industry experts and enthusiasts alike await 2024, a year poised for potential expansion, regulatory shifts, and continued innovation in the crypto sphere. Only time will reveal the accuracy of these predictions, marking 2024 as just another chapter in the ever-evolving narrative of digital currencies.

What do you think about the 2024 crypto and bitcoin predictions? Share your thoughts and opinions about this subject in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory