Opinion: NFTs and fan tokens to drive Bitcoin’s record-breaking surge in 2024
The cryptocurrency market is expected to undergo significant changes in 2024, with key trends shaping its trajectory. One major shift anticipated is the widespread acceptance of cryptocurrencies accompanied by increased regulatory measures. Bitcoin is predicted to set new price records, with its value potentially soaring to $60,000 or higher. The upcoming Bitcoin halving event and the potential approval of Bitcoin exchange traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) contribute to this optimistic forecast. Mining is expected to transition into an industrial operation dominated by major corporations. The main value of cryptocurrencies will lie in their utility, with established coins like Bitcoin, Ethereum, and Tether being embraced for payments. The proliferation of cryptocurrency payment infrastructures, such as crypto-processing services and crypto ATMs, will facilitate their use in daily transactions. While regulation in the cryptocurrency sector is expected to tighten, this is seen as a positive development to attract traditional investment and enhance market legitimacy. NFTs and fan tokens are predicted to decline in relevance due to their limited utility. Overall, 2024 is set to be a transformative year for cryptocurrencies and their integration into everyday life.
