Bitcoin in 2024: VanEck’s 15 Record-Breaking Predictions
2024 is set to be possibly the biggest year for Bitcoin yet. The coin has two major upcoming events that may shape the industry for decades to come – the introduction of a spot ETF and the impending block reward halving. Now, with the New Year well and truly on the horizon, people are starting to make their predictions for what’s to come. In a thread of tweets yesterday, VanEck speculated on 15 different things they believe will happen in 2024.
Q4 2024 All-Time-High on the Cards
VanEck’s predictions aren’t anything too crazy and tend to be on the slightly more conservative side compared to some others who have suggested BTC is a shoo-in for USD $100K (AUD $151K) by 2024. However, overall, the financial institutions and fund managers are quite bullish on the crypto industry’s prospects moving into the New Year.
The overarching theme of the predictions is that 2024 is set to be Bitcoin’s year. The company believes that
Bitcoin will make an all-time high in Q4 2024, potentially spurred by political events and regulatory shifts.
The predictions also make note that BTC will likely outperform Ethereum next year, but that ETH will still be a superior asset to major tech stocks on the NASDAQ and other U.S. indices. In fact, VanEck believes that the U.S. will enter a recession next year, but the crypto market will largely be spared from the chaos.
NFTs and DEXs Back on the Agenda?
Perhaps the most outlandish claim made by VanEck is that NFT activity will “rebound to an all-time high”. While this is not out of the realm of possibility, the NFT sector has become a barren wasteland over the past few years, with widespread interest falling off a cliff. It will likely take significant industry disruption (for example, GTA VI announcing they will utilise NFTs) for this to ring true.
Other predictions include:
On its own, VanEck commenting on the crypto industry isn’t particularly riveting news. However, that’s exactly the point – the fact an average fund manager is weighing in on cryptocurrency shows that there is a real appetite for digital currencies in traditional finance.