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Recently, there has been a surge in the popularity of cryptocurrency despite its perceived volatility as an investment option. Many are attracted to crypto due to its potential for higher returns. As we approach a new year, investors are actively seeking opportunities to bolster their portfolios and maximize their returns on investment. Experts have already made predictions about cryptocurrency trends for 2024. Here’s a glimpse of what they anticipate:
Binance
Binance’s Expected Drop from the Top Spot: Following the downfall of Sam Bankman-Fried’s FTX last year, Binance experienced an increase in its trading value. However, New York-based investment management company VanEck predicts a bearish year for Binance in 2024. According to their post on X, they anticipate Binance losing its top spot for spot trading, with competitors like OKX, Bybit, Coinbase, and Bitget vying for leadership. VanEck also suggests that Coinbase’s futures market might surpass $1 billion in daily volume due to regulated index inclusion.
Prediction #6: NFT activity will rebound to an all-time high with Ethereum leading and Bitcoin gaining traction via the Ordinals protocol, shifting the ETH-to-BTC NFT issuance ratio to 3-1 by the end of 2024.
— VanEck (@vaneck_us) December 7, 2023
Ethereum
Ethereum’s Revenue Surge: Ethereum remains a popular choice for investors. Bitwise’s 2024 crypto predictions on X suggest that Ethereum will more than double its current revenue. As per Ryan Rasmussen’s post, Ethereum’s revenue is anticipated to exceed $5 billion, driven by increased user participation in crypto applications. Bitwise predicts Ethereum’s fee payments to surge from approximately $2.3 billion in 2023 to over twice that amount in 2024, positioning Ethereum as one of the fastest-growing large-scale tech platforms globally.
With everything on the table coming in 2024, it’s hard to imagine Bitcoin under $250,000.
Everyone in this space knows that this is the greatest opportunity of a lifetime.
For everyone else, they’ll get Bitcoin at the price they deserve.
— The ₿itcoin Therapist (@TheBTCTherapist) December 6, 2023
Coinbase
Coinbase’s Revenue Projection: Experts forecast that Coinbase, the largest cryptocurrency exchange in the United States, will nearly double its revenue. Ryan Rasmussen predicts that Coinbase’s revenue will double, surpassing Wall Street’s expectations by at least tenfold. They anticipate an increase in trading volumes during bullish market conditions, along with traction for new product launches.
Prediction #2: Spot bitcoin ETFs will be approved, and collectively they will be the most successful ETF launch of all time.
Within five years, we estimate spot bitcoin ETFs could capture 1% of the $7.2 trillion U.S. ETF market, or $72 billion in AUM. pic.twitter.com/iWX6n3I3qC
— Ryan Rasmussen (@RasterlyRock) December 13, 2023
Prediction #3: Coinbase’s revenue will double, beating Wall Street expectations by at least 10x.
Historically, Coinbase's trading volumes surge in bull markets, and we expect the same to happen again. Plus, they’ve launched a wide range of new products that are showing traction. pic.twitter.com/a1bq1IyyMq
— Ryan Rasmussen (@RasterlyRock) December 13, 2023
Bitcoin
Bitcoin’s Projected Value: Bitcoin, being one of the most prominent cryptocurrencies, is predicted to hit a value of a quarter of a million dollars in 2024. Venture capitalist Tim Draper and another expert on X echoed similar sentiments, anticipating Bitcoin’s value to reach or even exceed $250,000. They suggest that this prediction aligns with the significant potential of Bitcoin as a lifetime opportunity for investors.
With everything on the table coming in 2024, it’s hard to imagine Bitcoin under $250,000.
Everyone in this space knows that this is the greatest opportunity of a lifetime.
For everyone else, they’ll get Bitcoin at the price they deserve.
— The ₿itcoin Therapist (@TheBTCTherapist) December 6, 2023