Crypto Predictions for 2024: A Year of Surprises and Shifting Dominance
Binance to Lose Its Crown in the Spot Market
Despite experiencing a surge in trading volume post-FTX bankruptcy, Binance is expected to relinquish its leading position in the spot market. Analysts from VanEck predict that competitors like OKX, Bybit, Coinbase, and Bitget will narrow the gap, ultimately dethroning Binance as the market leader.
Further reading：FTX’s Restructuring Proposal: Absurd Compensation Based on Last Year’s Bankruptcy Prices!
Coinbase Set for a Bull Run
Bitwise analyst Ryan Rasmussen anticipates a bullish future for Coinbase in 2024. He forecasts that the company’s revenue will double, outperforming Wall Street’s expectations by a tenfold margin. With the launch of the public chain Base and the expansion of international exchanges, Coinbase is poised for significant growth.
JPMorgan’s Foray into Tokenization and Blockchain
Rasmussen also believes that JPMorgan Chase will tokenize one of its funds and launch it on the blockchain. This move is expected to trigger a domino effect, leading to widespread adoption of blockchain technology among major institutions.
Further reading：JPMorgan CEO’s Bitcoin Criticism Contrasts With Blockchain Department’s Billion-Dollar Daily Trades and 300% Staff Growth
Bitcoin’s Ascent to $250,000
“The ₿itcoin Therapist” a renowned crypto KOL, finds it hard to imagine Bitcoin not reaching $250,000 by 2024, suggesting a bullish outlook for the cryptocurrency.
Bitcoin ETF Approval: A Precursor to Market Crash
REN Invest warns that the approval of a Bitcoin spot ETF could mark a short-term peak in the crypto market cap, followed by a sharp 30%-40% drop. However, a true bull market is expected to commence in Q2 and Q3 of the year.
Elon drops a token
Joe Vezzani, co-founder of LunarCrush, predicts the launch of a new token by Twitter as it shifts towards a subscription model. He believes this token’s market cap will far exceed the price Musk paid for Twitter.
Further reading：Bitwise’s ‘Top 10 Crypto Predictions for 2024’: Bitcoin Poised to Hit a New High of $80,000
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Keywords: Crypto Predictions 2024, Binance, Coinbase Bull Run, JPMorgan Tokenization, Bitcoin $250,000, Bitcoin ETF, Market Crash, Elon Musk, Blockchain Adoption, Crypto Market Trends
