VanEck’s 15 Crypto Predictions for 2024

VanEck has released a set of 15 predictions for the cryptocurrency landscape in 2024, encompassing price forecasts and anticipated events, including the anticipated launch of a spot Bitcoin ETF.

The company foresees Bitcoin (BTC) soaring to a fresh all-time high by late 2024, coinciding with expected U.S. recessionary concerns and regulatory adjustments post the next U.S. presidential election scheduled for November 5, 2024.

Ether (ETH), on the other hand, isn’t projected to usurp Bitcoin’s dominance in 2024 but is anticipated to outshine major tech stocks.

“Traditionally, Bitcoin leads market surges, with value subsequently flowing into smaller tokens post-halving. Ethereum’s potential to outperform Bitcoin may emerge after the halving but not secure a complete market switch.”

VanEck suggests that Ether’s market dominance will contend with other smart contract platforms like Solana, praised for its clearer scalability pathway.

Additionally, VanEck predicts a dethroning of Binance’s leading centralized exchange position in trading volume, with contenders like Coinbase, OKX, Bybit, and Bitget vying for supremacy.

The cryptocurrency market has shown significant momentum since November, notably Bitcoin’s surge by 163% from last year’s lows. Despite retreating from its annual peak of $44,465, Bitcoin is presently trading at $43,200.