Crypto to Experience Explosive Growth in 2024, Analyst Predicts
A new video from the Crypto Capital Venture channel features a YouTube analyst who presents several arguments in favor of a bullish sentiment for 2024.
The video begins by acknowledging the challenges faced by the market, such as the collapse of FTX, the bankruptcy of 3AC, and the lawsuits against Coinbase and Binance by the SEC. Despite these obstacles, the market has shown resilience and continued to grow.
The analyst points out that Bitcoin has consistently achieved higher highs and higher lows on a macro level. The market cycles have remained consistent, indicating the continued growth of the cryptocurrency.
Several bullish indicators are mentioned by the analyst. Firstly, 2024 is expected to be the year of the next Bitcoin halving event. Additionally, the approval of the spot Bitcoin ETF, which is anticipated in January, is expected to have a significant impact on the crypto space. This development is seen as a game-changer that will bring substantial liquidity to Bitcoin and the altcoin market. The filing by BlackRock for a spot Ethereum ETF further supports this belief.
The analyst suggests that even without these developments, the market would still look significantly different from its current state.
In addition to these factors, the analyst highlights the pending decision on the Coinbase-SEC case, with oral arguments scheduled in the coming weeks. While speculative, Crypto Capital Venture believes that the judge will be fair in their ruling and that one of the world’s largest crypto exchanges will emphasize that Congress holds the ultimate authority.
Given this context, Crypto Capital Venture expresses excitement for the upcoming year and predicts a $10 trillion market cap for crypto in this bull cycle, with $4 trillion attributed to Bitcoin.
