This Will Be A Big Year For Crypto. Here's What Could Happen.
As we head into 2024, my attention is firmly focused on what the year will bring for the crypto market.
This year will see the start of the crypto bull run where positivity returns to crypto and investor money pours into crypto and prices typically soar.
And 2024 could see the biggest crypto bull run ever and maybe even the last one before crypto goes main stream.
So here are a few things to watch out for in the year ahead.
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The year will start off with a bang with the expected approval of several spot Bitcoin ETF applications.
Should they be approved by January 10th, this would encourage wider investment into Bitcoin and billions of dollars could flow into Bitcoin and crypto potentially sending prices soaring.
However approval is not 100% certain and disapproval could see a sharp drop in the price of Bitcoin as short term traders liquidate their positions.
The next big event you need to be aware of is Bitcoins halving which is expected at the end of April.
This is when the amount of Bitcoin issued to miners halves which reduces supply and typically after this event, Bitcoins price soars and eventually reaches a new all time high.
Bitcoins halving is typically the official start of the crypto bull run.
Another very important event to keep an eye on is a potentially huge stock market and financial crash that could be equal or worse to that of the great 2008 crash.
The US government is loaded with trillions of dollars of debts and many banks are over leveraged and are on the brink and with war raging in the Middle East and Europe, any major escalation would have devastating effects on the financial markets and the economy.
If a big financial crash were to happen, the crypto market could also crash but on the flip side, many investors are growing wary of the US dollar and are storing their wealth in Bitcoin so Bitcoin could capitalize on any major crash over time.
The main narratives driving crypto this year will be crypto gaming, crypto AI and Real World Asset crypto projects. So keep your eye's peeled on these areas of the crypto market and the promising crypto coins within them.
In summary, whilst this year will see strong surges in crypto prices with Bitcoin potentially exceeding its previous all time high, there will also be volatility depending on news and world events at the time.
So buckle up because crypto will be like a roller coaster ride this year!
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