5 Crypto Predictions for 2024

--- by D. Petkovski ---

I always liked making predictions over a course of a year.

And I especially like to be rewarded for being right when doing so.

Here’s how I see 2024 playing out in the context of the cryptocurrency market:

Table of Contents

1. Bitcoin ETF Approval in the US

My prediction is that a spot Bitcoin ETF will be approved this year.

The gates are open and there’s no going back – the big players want in. BlackRock, Fidelity, Grayscale, WisdomTree, VanEck and others already applied for an ETF and the pressure is on the SEC as billions wait to enter this market.

Needless to say, this will create a shift in demand. At the same time, it’ll coincide with the supply shock of the block reward halving. I’ll let you figure out what this means for the price.

I have to mention: I don’t care about the Bitcoin ETF. I won’t buy it, I won’t recommend it. Bitcoin didn’t solve self-custody for traders to gift their keys to institutions.

But n00bs that “want to allocate 1% of their net-worth to crypto” will love it.

2. Bitcoin Price Prediction

I already wrote about this in May 2023 on my first thread on X:

I believe we already entered the “bull market confirmed” stage. I’ll post a more detailed post about Bitcoin’s short-term price, but in summary:

I expect $BTC to be either close to or breach its all-time-high this year. The “big” predictions (i.e. price discovery) are for 2025.

3. Upcoming Narratives

Here’s a list of crypto/DeFi narratives I think will blow up:

Native cross-chain swaps (THORChain, Maya Protocol, Chainflip – the ones that go beyond the EVM)
Ethereum & L2s (all governance tokens of L2 networks, preferably acquired via airdrops)
Bitcoin Ecosystem (Stacks, Ordinals, BRC-20s – just holding free mints and Bitmaps was already worthwhile)
Restaking (EigenLayer is building a revolutionary solution and there are many liquid restaking tokens available too)

4. The Year of Airdrops

If you missed the airdrop potential of the bear market, this is your chance to get involved!

If you don’t know the term: an airdrop is a distribution of tokens from a project as a reward to its users.

Some drops aren’t worth it, but others can be worth hundreds of thousands of dollars (literally). Usually there are no guarantees or announcements about this. Instead, they happen as a surprise drop to your wallet based on some criteria at a given time.

Here’s the ones I’ll definitely be eligible for or already expecting:

Ethereum L2s (ZkSync, Scroll, Linea, Manta Pacific, Taiko, Base, Zora, StarkNet, etc.)
Bridges (LayerZero, Wormhole, Orbiter Finance, Owlto Finance, etc.)
Ecosystem-specific (MarginFi, Kamino Finance, MayanSwap, SyncSwap, Vertex, etc.)
Many others: EigenLayer, Namada, Dymension, Venom, MetaMask, Aleo, Tabi, Omni, opBNB, XAI, ElDorado, etc.

I can’t list them all because there are updates daily. I definitely forgot a bunch as well.

I’ve made multiple 5 figures from airdrops during 2023 and the narrative continues to deliver. Just to name a few: Celestia, Arbitrum, Optimism, Maya Protocol, Mayan Gold, multiple Cosmos ecosystem airdrops, and most recently ZkFair.

Again, these are just from the last year and from the top of my head. But I think you get the picture.

Long story short: new projects are being built. They built on top of each other and reward active users and early participation.

5. The End of Tight Monetary Policy

The FED seems closer to declaring victory over inflation by the day.

Whether this will manifest itself as rate cuts or increasing the money supply in other ways, I think we’re nearing a loosening of the monetary policy.

We’re also entering a US election year. This usually corelates with good performance in the stock market as no candidate wants a declining S&P 500 while running for president. By the way, for bonus points, my crystal balls tells me that a republican will win this cycle.

Of course, nobody can tell exactly when the rate hikes will stop, but I’m confident in predicting it over a course of a year.

PS I keep seeing people failing to position themselves properly for a rate cutting environment. That’s why I included a macro prediction besides crypto. But of course, all prices will be affected by a loose monetary policy – both groceries’ and (digital) assets’.

Summary

There’s no better way to summarize this post except: 2024 will be epic for crypto!

Congrats if you’re already riding the wave. 🚀

Author

D. Petkovski

📓 The Author Husband & Father
Software Engineer StrengthCentric
₿itcoin Hodler Long-Term Investor
🌍 Everything Enthusiast 🔥 Optimist

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