Asset class returns since 2011

In addition, the US and other economies may enter a recession in the later half of 2024 due to the lagged effects of the interest rate hikes.

Equally, we saw a number of bank failures in 2023, predominantly in the US. In the event of a recession or more bank problems, governments may be forced to provide stimulus packages and print more money. This would further devalue currencies and make bitcoin still more attractive.

3. The halving
A big event for bitcoin in 2024 is the so-called “halving”. Bitcoin runs on an online ledger known as a blockchain, in which entries are validated by “miners” using arrays of computers to solve complex mathematical puzzles. Miners are paid in bitcoin for completing a set of transactions known as a block, and the protocol stipulates that their reward per block halves every 210,000 “blocks” (roughly every four years).

The reward began at 50 bitcoin in 2009 and is expected to fall from 6.25 bitcoin to 3.125 bitcoin around the middle of April 2024.

This decrease entails fewer bitcoin sold on the market, which tightens supply and may squeeze out the least efficient miners, significantly reducing the computer power used by the network. The three previous halvings have prompted dramatic bull runs, while also driving up the prices of digital assets more generally as investors take more risks in the space.

Halving effects

Chart showing how bitcoin halvings have affected price
Trading View
4. Blockchain developments
The bitcoin network saw a number of technological advancements in 2023. This has included enabling a new and a unique form of NFTs (non-fungible tokens) known as ordinals, and also a new standard called BRC-20 that makes it possible to create new cryptocurrencies on the network. Until now, NFTs and new cryptocurrencies have mostly been issued on other blockchains such as ethereum.

We are also seeing growing adoption of the Lightning network, a layer above the bitcoin blockchain that enables much faster transactions. All these changes are resulting in increased demand for bitcoin, which in turn may lead to higher prices.

In sum, there’s a strong case for being bullish about bitcoin’s price in the year ahead. Commentators’ predictions range from US$60,000 to US$500,000 by year end. Our own belief is that though the road may be bumpy, 2024 could well see increased adoption of cryptocurrencies, which will drive prices beyond the current US$40,000 mark.In addition, the US and other economies may enter a recession in the later half of 2024 due to the lagged effects of the interest rate hikes.

Equally, we saw a number of bank failures in 2023, predominantly in the US. In the event of a recession or more bank problems, governments may be forced to provide stimulus packages and print more money. This would further devalue currencies and make bitcoin still more attractive.

3. The halving
A big event for bitcoin in 2024 is the so-called “halving”. Bitcoin runs on an online ledger known as a blockchain, in which entries are validated by “miners” using arrays of computers to solve complex mathematical puzzles. Miners are paid in bitcoin for completing a set of transactions known as a block, and the protocol stipulates that their reward per block halves every 210,000 “blocks” (roughly every four years).

The reward began at 50 bitcoin in 2009 and is expected to fall from 6.25 bitcoin to 3.125 bitcoin around the middle of April 2024.

This decrease entails fewer bitcoin sold on the market, which tightens supply and may squeeze out the least efficient miners, significantly reducing the computer power used by the network. The three previous halvings have prompted dramatic bull runs, while also driving up the prices of digital assets more generally as investors take more risks in the space.

Halving effects

Chart showing how bitcoin halvings have affected price
Trading View
4. Blockchain developments
The bitcoin network saw a number of technological advancements in 2023. This has included enabling a new and a unique form of NFTs (non-fungible tokens) known as ordinals, and also a new standard called BRC-20 that makes it possible to create new cryptocurrencies on the network. Until now, NFTs and new cryptocurrencies have mostly been issued on other blockchains such as ethereum.

We are also seeing growing adoption of the Lightning network, a layer above the bitcoin blockchain that enables much faster transactions. All these changes are resulting in increased demand for bitcoin, which in turn may lead to higher prices.

In sum, there’s a strong case for being bullish about bitcoin’s price in the year ahead. Commentators’ predictions range from US$60,000 to US$500,000 by year end. Our own belief is that though the road may be bumpy, 2024 could well see increased adoption of cryptocurrencies, which will drive prices beyond the curIn addition, the US and other economies may enter a recession in the later half of 2024 due to the lagged effects of the interest rate hikes.

Equally, we saw a number of bank failures in 2023, predominantly in the US. In the event of a recession or more bank problems, governments may be forced to provide stimulus packages and print more money. This would further devalue currencies and make bitcoin still more attractive.

3. The halving
A big event for bitcoin in 2024 is the so-called “halving”. Bitcoin runs on an online ledger known as a blockchain, in which entries are validated by “miners” using arrays of computers to solve complex mathematical puzzles. Miners are paid in bitcoin for completing a set of transactions known as a block, and the protocol stipulates that their reward per block halves every 210,000 “blocks” (roughly every four years).

The reward began at 50 bitcoin in 2009 and is expected to fall from 6.25 bitcoin to 3.125 bitcoin around the middle of April 2024.

This decrease entails fewer bitcoin sold on the market, which tightens supply and may squeeze out the least efficient miners, significantly reducing the computer power used by the network. The three previous halvings have prompted dramatic bull runs, while also driving up the prices of digital assets more generally as investors take more risks in the space.

Halving effects

Chart showing how bitcoin halvings have affected price
Trading View
4. Blockchain developments
The bitcoin network saw a number of technological advancements in 2023. This has included enabling a new and a unique form of NFTs (non-fungible tokens) known as ordinals, and also a new standard called BRC-20 that makes it possible to create new cryptocurrencies on the network. Until now, NFTs and new cryptocurrencies have mostly been issued on other blockchains such as ethereum.

We are also seeing growing adoption of the Lightning network, a layer above the bitcoin blockchain that enables much faster transactions. All these changes are resulting in increased demand for bitcoin, which in turn may lead to higher prices.

In sum, there’s a strong case for being bullish about bitcoin’s price in the year ahead. Commentators’ predictions range from US$60,000 to US$500,000 by year end. Our own belief is that though the road may be bumpy, 2024 could well see increased adoption of cryptocurrencies, which will drive prices beyond the curIn addition, the US and other economies may enter a recession in the later half of 2024 due to the lagged effects of the interest rate hikes.

Equally, we saw a number of bank failures in 2023, predominantly in the US. In the event of a recession or more bank problems, governments may be forced to provide stimulus packages and print more money. This would further devalue currencies and make bitcoin still more attractive.

3. The halving
A big event for bitcoin in 2024 is the so-called “halving”. Bitcoin runs on an online ledger known as a blockchain, in which entries are validated by “miners” using arrays of computers to solve complex mathematical puzzles. Miners are paid in bitcoin for completing a set of transactions known as a block, and the protocol stipulates that their reward per block halves every 210,000 “blocks” (roughly every four years).

The reward began at 50 bitcoin in 2009 and is expected to fall from 6.25 bitcoin to 3.125 bitcoin around the middle of April 2024.

This decrease entails fewer bitcoin sold on the market, which tightens supply and may squeeze out the least efficient miners, significantly reducing the computer power used by the network. The three previous halvings have prompted dramatic bull runs, while also driving up the prices of digital assets more generally as investors take more risks in the space.

Halving effects

Chart showing how bitcoin halvings have affected price
Trading View
4. Blockchain developments
The bitcoin network saw a number of technological advancements in 2023. This has included enabling a new and a unique form of NFTs (non-fungible tokens) known as ordinals, and also a new standard called BRC-20 that makes it possible to create new cryptocurrencies on the network. Until now, NFTs and new cryptocurrencies have mostly been issued on other blockchains such as ethereum.

We are also seeing growing adoption of the Lightning network, a layer above the bitcoin blockchain that enables much faster transactions. All these changes are resulting in increased demand for bitcoin, which in turn may lead to higher prices.

In sum, there’s a strong case for being bullish about bitcoin’s price in the year ahead. Commentators’ predictions range from US$60,000 to US$500,000 by year end. Our own belief is that though the road may be bumpy, 2024 could well see increased adoption of cryptocurrencies, which will drive prices beyond the curIn addition, the US and other economies may enter a recession in the later half of 2024 due to the lagged effects of the interest rate hikes.

Equally, we saw a number of bank failures in 2023, predominantly in the US. In the event of a recession or more bank problems, governments may be forced to provide stimulus packages and print more money. This would further devalue currencies and make bitcoin still more attractive.

3. The halving
A big event for bitcoin in 2024 is the so-called “halving”. Bitcoin runs on an online ledger known as a blockchain, in which entries are validated by “miners” using arrays of computers to solve complex mathematical puzzles. Miners are paid in bitcoin for completing a set of transactions known as a block, and the protocol stipulates that their reward per block halves every 210,000 “blocks” (roughly every four years).

The reward began at 50 bitcoin in 2009 and is expected to fall from 6.25 bitcoin to 3.125 bitcoin around the middle of April 2024.

This decrease entails fewer bitcoin sold on the market, which tightens supply and may squeeze out the least efficient miners, significantly reducing the computer power used by the network. The three previous halvings have prompted dramatic bull runs, while also driving up the prices of digital assets more generally as investors take more risks in the space.

Halving effects

Chart showing how bitcoin halvings have affected price
Trading View
4. Blockchain developments
The bitcoin network saw a number of technological advancements in 2023. This has included enabling a new and a unique form of NFTs (non-fungible tokens) known as ordinals, and also a new standard called BRC-20 that makes it possible to create new cryptocurrencies on the network. Until now, NFTs and new cryptocurrencies have mostly been issued on other blockchains such as ethereum.

We are also seeing growing adoption of the Lightning network, a layer above the bitcoin blockchain that enables much faster transactions. All these changes are resulting in increased demand for bitcoin, which in turn may lead to higher prices.

In sum, there’s a strong case for being bullish about bitcoin’s price in the year ahead. Commentators’ predictions range from US$60,000 to US$500,000 by year end. Our own belief is that though the road may be bumpy, 2024 could well see increased adoption of cryptocurrencies, which will drive prices beyond the curIn addition, the US and other economies may enter a recession in the later half of 2024 due to the lagged effects of the interest rate hikes.

Equally, we saw a number of bank failures in 2023, predominantly in the US. In the event of a recession or more bank problems, governments may be forced to provide stimulus packages and print more money. This would further devalue currencies and make bitcoin still more attractive.

3. The halving
A big event for bitcoin in 2024 is the so-called “halving”. Bitcoin runs on an online ledger known as a blockchain, in which entries are validated by “miners” using arrays of computers to solve complex mathematical puzzles. Miners are paid in bitcoin for completing a set of transactions known as a block, and the protocol stipulates that their reward per block halves every 210,000 “blocks” (roughly every four years).

The reward began at 50 bitcoin in 2009 and is expected to fall from 6.25 bitcoin to 3.125 bitcoin around the middle of April 2024.

This decrease entails fewer bitcoin sold on the market, which tightens supply and may squeeze out the least efficient miners, significantly reducing the computer power used by the network. The three previous halvings have prompted dramatic bull runs, while also driving up the prices of digital assets more generally as investors take more risks in the space.

Halving effects

Chart showing how bitcoin halvings have affected price
Trading View
4. Blockchain developments
The bitcoin network saw a number of technological advancements in 2023. This has included enabling a new and a unique form of NFTs (non-fungible tokens) known as ordinals, and also a new standard called BRC-20 that makes it possible to create new cryptocurrencies on the network. Until now, NFTs and new cryptocurrencies have mostly been issued on other blockchains such as ethereum.

We are also seeing growing adoption of the Lightning network, a layer above the bitcoin blockchain that enables much faster transactions. All these changes are resulting in increased demand for bitcoin, which in turn may lead to higher prices.

In sum, there’s a strong case for being bullish about bitcoin’s price in the year ahead. Commentators’ predictions range from US$60,000 to US$500,000 by year end. Our own belief is that though the road may be bumpy, 2024 could well see increased adoption of cryptocurrencies, which will drive prices beyond the curIn addition, the US and other economies may enter a recession in the later half of 2024 due to the lagged effects of the interest rate hikes.

Equally, we saw a number of bank failures in 2023, predominantly in the US. In the event of a recession or more bank problems, governments may be forced to provide stimulus packages and print more money. This would further devalue currencies and make bitcoin still more attractive.

3. The halving
A big event for bitcoin in 2024 is the so-called “halving”. Bitcoin runs on an online ledger known as a blockchain, in which entries are validated by “miners” using arrays of computers to solve complex mathematical puzzles. Miners are paid in bitcoin for completing a set of transactions known as a block, and the protocol stipulates that their reward per block halves every 210,000 “blocks” (roughly every four years).

The reward began at 50 bitcoin in 2009 and is expected to fall from 6.25 bitcoin to 3.125 bitcoin around the middle of April 2024.

This decrease entails fewer bitcoin sold on the market, which tightens supply and may squeeze out the least efficient miners, significantly reducing the computer power used by the network. The three previous halvings have prompted dramatic bull runs, while also driving up the prices of digital assets more generally as investors take more risks in the space.

Halving effects

Chart showing how bitcoin halvings have affected price
Trading View
4. Blockchain developments
The bitcoin network saw a number of technological advancements in 2023. This has included enabling a new and a unique form of NFTs (non-fungible tokens) known as ordinals, and also a new standard called BRC-20 that makes it possible to create new cryptocurrencies on the network. Until now, NFTs and new cryptocurrencies have mostly been issued on other blockchains such as ethereum.

We are also seeing growing adoption of the Lightning network, a layer above the bitcoin blockchain that enables much faster transactions. All these changes are resulting in increased demand for bitcoin, which in turn may lead to higher prices.

In sum, there’s a strong case for being bullish about bitcoin’s price in the year ahead. Commentators’ predictions range from US$60,000 to US$500,000 by year end. Our own belief is that though the road may be bumpy, 2024 could well see increased adoption of cryptocurrencies, which will drive prices beyond the curIn addition, the US and other economies may enter a recession in the later half of 2024 due to the lagged effects of the interest rate hikes.

Equally, we saw a number of bank failures in 2023, predominantly in the US. In the event of a recession or more bank problems, governments may be forced to provide stimulus packages and print more money. This would further devalue currencies and make bitcoin still more attractive.

3. The halving
A big event for bitcoin in 2024 is the so-called “halving”. Bitcoin runs on an online ledger known as a blockchain, in which entries are validated by “miners” using arrays of computers to solve complex mathematical puzzles. Miners are paid in bitcoin for completing a set of transactions known as a block, and the protocol stipulates that their reward per block halves every 210,000 “blocks” (roughly every four years).

The reward began at 50 bitcoin in 2009 and is expected to fall from 6.25 bitcoin to 3.125 bitcoin around the middle of April 2024.

This decrease entails fewer bitcoin sold on the market, which tightens supply and may squeeze out the least efficient miners, significantly reducing the computer power used by the network. The three previous halvings have prompted dramatic bull runs, while also driving up the prices of digital assets more generally as investors take more risks in the space.

Halving effects

Chart showing how bitcoin halvings have affected price
Trading View
4. Blockchain developments
The bitcoin network saw a number of technological advancements in 2023. This has included enabling a new and a unique form of NFTs (non-fungible tokens) known as ordinals, and also a new standard called BRC-20 that makes it possible to create new cryptocurrencies on the network. Until now, NFTs and new cryptocurrencies have mostly been issued on other blockchains such as ethereum.

We are also seeing growing adoption of the Lightning network, a layer above the bitcoin blockchain that enables much faster transactions. All these changes are resulting in increased demand for bitcoin, which in turn may lead to higher prices.

In sum, there’s a strong case for being bullish about bitcoin’s price in the year ahead. Commentators’ predictions range from US$60,000 to US$500,000 by year end. Our own belief is that though the road may be bumpy, 2024 could well see increased adoption of cryptocurrencies, which will drive prices beyond the curIn addition, the US and other economies may enter a recession in the later half of 2024 due to the lagged effects of the interest rate hikes.

Equally, we saw a number of bank failures in 2023, predominantly in the US. In the event of a recession or more bank problems, governments may be forced to provide stimulus packages and print more money. This would further devalue currencies and make bitcoin still more attractive.

3. The halving
A big event for bitcoin in 2024 is the so-called “halving”. Bitcoin runs on an online ledger known as a blockchain, in which entries are validated by “miners” using arrays of computers to solve complex mathematical puzzles. Miners are paid in bitcoin for completing a set of transactions known as a block, and the protocol stipulates that their reward per block halves every 210,000 “blocks” (roughly every four years).

The reward began at 50 bitcoin in 2009 and is expected to fall from 6.25 bitcoin to 3.125 bitcoin around the middle of April 2024.

This decrease entails fewer bitcoin sold on the market, which tightens supply and may squeeze out the least efficient miners, significantly reducing the computer power used by the network. The three previous halvings have prompted dramatic bull runs, while also driving up the prices of digital assets more generally as investors take more risks in the space.

Halving effects

Chart showing how bitcoin halvings have affected price
Trading View
4. Blockchain developments
The bitcoin network saw a number of technological advancements in 2023. This has included enabling a new and a unique form of NFTs (non-fungible tokens) known as ordinals, and also a new standard called BRC-20 that makes it possible to create new cryptocurrencies on the network. Until now, NFTs and new cryptocurrencies have mostly been issued on other blockchains such as ethereum.

We are also seeing growing adoption of the Lightning network, a layer above the bitcoin blockchain that enables much faster transactions. All these changes are resulting in increased demand for bitcoin, which in turn may lead to higher prices.

In sum, there’s a strong case for being bullish about bitcoin’s price in the year ahead. Commentators’ predictions range from US$60,000 to US$500,000 by year end. Our own belief is that though the road may be bumpy, 2024 could well see increased adoption of cryptocurrencies, which will drive prices beyond the curIn addition, the US and other economies may enter a recession in the later half of 2024 due to the lagged effects of the interest rate hikes.

Equally, we saw a number of bank failures in 2023, predominantly in the US. In the event of a recession or more bank problems, governments may be forced to provide stimulus packages and print more money. This would further devalue currencies and make bitcoin still more attractive.

3. The halving
A big event for bitcoin in 2024 is the so-called “halving”. Bitcoin runs on an online ledger known as a blockchain, in which entries are validated by “miners” using arrays of computers to solve complex mathematical puzzles. Miners are paid in bitcoin for completing a set of transactions known as a block, and the protocol stipulates that their reward per block halves every 210,000 “blocks” (roughly every four years).

The reward began at 50 bitcoin in 2009 and is expected to fall from 6.25 bitcoin to 3.125 bitcoin around the middle of April 2024.

This decrease entails fewer bitcoin sold on the market, which tightens supply and may squeeze out the least efficient miners, significantly reducing the computer power used by the network. The three previous halvings have prompted dramatic bull runs, while also driving up the prices of digital assets more generally as investors take more risks in the space.

Halving effects

Chart showing how bitcoin halvings have affected price
Trading View
4. Blockchain developments
The bitcoin network saw a number of technological advancements in 2023. This has included enabling a new and a unique form of NFTs (non-fungible tokens) known as ordinals, and also a new standard called BRC-20 that makes it possible to create new cryptocurrencies on the network. Until now, NFTs and new cryptocurrencies have mostly been issued on other blockchains such as ethereum.

We are also seeing growing adoption of the Lightning network, a layer above the bitcoin blockchain that enables much faster transactions. All these changes are resulting in increased demand for bitcoin, which in turn may lead to higher prices.

In sum, there’s a strong case for being bullish about bitcoin’s price in the year ahead. Commentators’ predictions range from US$60,000 to US$500,000 by year end. Our own belief is that though the road may be bumpy, 2024 could well see increased adoption of cryptocurrencies, which will drive prices beyond the current US$40,000 mark.rent US$40,000 mark.rent US$40,000 mark.rent US$40,000 mark.rent US$40,000 mark.rent US$40,000 mark.rent US$40,000 mark.rent US$40,000 mark.rent US$40,000 mark.