3 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. 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 correlates 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. 🚀

🛡️ Secure your assets permanently – master self custody and hardware wallets 🔐

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Author

D. Petkovski

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

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